Profee Review: Fees, Safety, Alternatives, and More
Byron Mühlberg
Guide
Profee is a very good money transfer service (9/10) which our reviewers recommend for your next transfer abroad. It's now an established company with more than 170 employees, Profee is licensed and legitimate and get a good trust score (9.5/10) and offers an excellent product and service on its app (8.5/10) for low fees and good exchange rates (9.7/10). Profee also has a good customer satisfaction score of (8.4/10).
What Monito Likes About Profee
- Excellent exchange rates on Monito's comparison engine,
- Simple, easy-to-understand web and app interface,
- Fast card-to-card transfers, usually in minutes.
What Monito Dislikes About Profee
- Some currencies like JPY aren't supported.
- Pay-outs options are limited for some destination countries
A fast and well-priced money transfer option, we recommend Profee for transfers from Europe an the UK. However, if you'd like to transfer money for cash pick-up or make sure you're getting the best deal of all, then we recommend running a search on Monito's real-time comparison engine to find the best deal.
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How We Review Money Transfer Providers
With more than 50 providers reviewed and 100 test transfers made over the past ten years, we pride ourselves on providing the best reviews of international money transfer services online. Curious how we make them and why you can trust us? Take a look at our process below:
Profee Review
Is Profee Available in Your Country?
You can use Profee to transfer money from any EEA or UK bank account. You may send money from your card, bank account, or use Apple or Google Pay in the Profee app. To double-check if Profee works in your country, take a look at the dropdown list below:
| Profee | Switzerland |
Trust & Credibility
Background check
Valid authorisation from all relevant financial authorities.
Security & reliability
Segregated accounts, HTTPS, Tier4 data centers, etc.
Company size
Founded in 2017, Profee is now an established company, with 170+ employees
Transparent pricing
Exchange rate margin isn't displayed transparently on the homepage calculator.
Can I Trust Profee?
Yes, Profee is a safe and secure money transfer platform that you can most certainly trust to deliver your funds from A to B.
Profee is a Cyprus-based money transfer company that's duly licensed as an Electronic Money Institution (EMI) by the Central Bank of Cyprus, making it a legitimate company that's fully compliant with EU standards and global regulations. Among these regulations is the requirement that your funds as a customer be held in a "segregated safeguarding account". This means that your money is always held separately from the company’s business accounts and will therefore not be used to run the company.
Aside from its legal and regulatory status, Profee is also a highly secure platform that adheres to the latest security protocols on the internet, such as secure servers, HTTPS, PCI DSS compliance, and more.
The only reason we didn't score Profee higher in this section is because it's (1) a relatively young company with a small corporate size and (2) it isn't totally transparent about making money on the exchange rate, instead being ambiguous on its homepage about whether or not the exchange rate displayed is the same as the mid-market exchange rate.
Service & Quality
Opening an account
Opening a new account is fast and simple, requiring only a phone number and a few personal details.
Making a transfer
The interface makes transferring money simple and easy to do in just minutes.
Contacting support
Support is available by phone, email, and live chat.
Profee's Service Quality
Profee provides a fast, seamless, and clean experience for sending money abroad, and we found it to be an excellent all-around money transfer platform in our tests.
With Profee, you can quickly send money from the EU/EEA and the UK to 90+ countries. However, it currently doesn't support transfers to a few major currencies, most notably the following ones:
- Japanese yen (JPY),
- Turkish liras (TRY),
Speed is one of the most significant selling points of Profee. Indeed, according to its website, most transfers arrive within minutes of being sent. This makes Profee one of the fastest ways to send money abroad, on par with the likes of Wise and Remitly.
Profee supports transfers by bank transfer and debit or credit card and pays out funds to foreign bank accounts as a local deposit or credit or debit card deposits.
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As of 21 June 2023, Profee prepaid VISA debit cards and virtual cards are temporarily unavailable and should be restored soon.
In addition to international money transfers, Profee also offers you the option to open a digital multi-currency wallet and get a prepaid Visa debit card (and virtual cards) for no additional cost (unless you order the physical card, which costs €9.99 to be delivered).
This account is a complete and versatile offering. For example, the cards come integrated with all the bells and whistles, such as contactless payments, Google Pay, and Apple Pay. The online account allows you to spend online or in-person in multiple foreign currencies at Profee's low exchange rates, making it an excellent addition to the money transfer service if you know you'll frequently spend in a foreign currency.
Fees & Exchange Rates
Transfers to a debit or credit card
Profee's transfer to a card are very often the cheapest options, and only occasionally not among the most competitive options.
Transfers to a bank account
Profee is the cheapest option to send money to a bank account in close to half of the searches where they are listed on Monito, and always competitive.
Transfers to a mobile wallet
The option to send money to mobile wallet of Profee is always very competitive.
Profee's Fees & Exchange Rates
There are no two ways about it — Profee is a very cheap way to send money to a foreign currency from Europe.
Like most international transfer platforms and banks, when you send money internationally with Profee, you'll be charged two types of fees: (1) a fixed fee and (2) an exchange rate margin (meaning Profee will offer you a slightly worse exchange rate than the 'real' mid-market exchange rate and pocket the markup).
At Profee, the fixed fee is usually around €1 or currency equivalent per transfer and the exchange rate margin is around 1% of the total transfer amount. This means that for a €1,000 transfer, you'll pay around 1.11% (or €11.10) in total fees. This is much cheaper than the bank, which typically charges anywhere between 3% and 9% in total fees for a similar transfer. What’s more, Profee may give you a special offer if you are a new client: a 0% fee and/or a better exchange rate.
Compare Profee's fees to those of other leading platforms:
Customer Satisfaction
Trustpilot reviews
4.3/5 from 8,000+ reviews.
Google Play reviews
4.5/5 from 11,500 reviews.
App Store reviews
4.8/5 from 500 reviews
Profee Reviews
Profee's customer reviews are overall very positive. Their play-store rating (which change from country to country) is on average at 4.5/5, while their App Store rating is even higher at 4.8/5, but based on fewer reviews.
Their 8000+ reviews on Trustpilot with a score of 4.3 is good as well, with the service's speed, ease of use, and ability to transfer to a wide number of currencies being most frequently praised.
FAQ About Profee
Why You Can Trust Monito
Our recommendations are built on rock-solid experience.
- We've reviewed 50+ money transfer providers
- We've made 100+ test transfers
- Our writers have been testing providers since 2013
Learn More About Profee's Alternatives
Why You Can Trust Us
You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, Monito co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services worldwide.
Today, Monito’s award-winning comparisons, reviews, and guides (no longer just about money transfers but also digital accounts, travel cards, eSIMs, and travel insurance) are trusted by millions each year. Our recommendations are backed by our comparison data and dozens of expert tests, allowing you to confidently make the savviest decisions.
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