Paysend money transfer review & guide

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

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Everything you need to know

Paysend review

Paysend is a UK-based fintech company specializing in international money transfers, offering a streamlined and cost-effective way to send money globally. Users can transfer funds to over 170 countries, sending directly to bank accounts, debit/credit cards, mobile wallets, or even for cash pickup.

Paysend has a digital wallet service, as well as international transfers through cards and bank accounts. In addition to individuals, it serves businesses who make transfers to and from different currencies.

Payment Methods Available with Paysend

Paysend offers a variety of payment methods to fund your international money transfers, providing flexibility and convenience for users worldwide.

  • Credit Card Transfers
  • Debit Card Transfers
  • Digital Wallets
  • Bank Accounts

    • How much can I transfer with Paysend?

    Paysend offers tiered transfer limits based on user verification levels​

    Tier 1 (Basic)

    Up to $999 per day or $10,000 per month.

    Tier 2 (Advanced)

    Up to $5,000 per day or $20,000 per month.

    Tier 3 (Ultimate)

    Up to $10,000 per day or $50,000 per month.

    How long does a transfer usually take with Paysend?

    Paysend processes most money transfers instantly, with over 90% arriving within 15 seconds. However, depending on the recipient's bank and other factors, some transfers may take up to 3 business days to complete. ​ \n\n If your transfer hasn't been received after three business days, it's advisable to contact Paysend's customer support for assistance.
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    Pros and Cons of using Paysend

    Pros
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    Large number of receiving countries available - up to 84 worldwide

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    Many payout methods including bank accounts and cards

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    High level of payment security and regulated by government financial bodies

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    Fixed fees so senders know pricing upfront

    Cons

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    Countries you can send money from are limited, mainly Canada, the US and Europe

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    The verification process can take a long time, so not convenient

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    Transfers are sometimes delayed if verification does not go through

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    Not transparent on exchange rates

    How it works

    How does Paysend make money?

    Like many international money transfer services, Paysend makes money on their currency conversion. They apply a “spread”.

    The mid-market rate or interbank rate is what banks use. Like banks, Paysend and other companies provide an international money transfer service. They add a margin to the mid-market exchange rate. In some cases it can be as high as 4 percent. This is why the rate that you see is normally not the rate you get when sending money abroad.

    Paysend exchange rates

    Paysend offers competitive and transparent exchange rates for international money transfers. While they don't provide the exact mid-market rate, Paysend ensures that the exchange rate is locked in at the time of the transaction, so there are no surprises. The specific exchange rate applied to your transfer depends on the currencies involved and the prevailing market rates at the time of the transaction.​ Overall, Paysend's exchange rates are competitive, and their transparent fee structure allows you to know the total cost upfront.​
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    Best rates with RemitBee

    RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

    Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

    Safety and security

    Is Paysend money transfer secure?

    Choosing an online service to send money can be difficult. It’s hard to know who to trust. You can be confident however that Paysend is secure. It is trusted both by the industry and consumers.

    In the United Kingdom, the company is regulated by the Financial Conduct Authority (FCA) under reference number 900004. This means it is authorised to remit cash and issue payment instruments. In Canada, Paysend received a money service business (MSB) license in 2019.

    Credit card companies also hold Paysend in high regard. Paysend has been given the Paytech Best Cards Initiative award in 2018. They use both Visa and Mastercard’s advanced cross border transfer tech.

    Security features

  • Paysend ensures user security through multiple robust measures.
  • Two-factor authentication (2FA) adds an extra layer of account security.
  • Paysend also employs strict identity verification and fraud detection systems to prevent unauthorized transactions
  • The company complies with financial regulations like Anti-Money Laundering (AML) and is regulated by the UK’s Financial Conduct Authority (FCA).

    • With Paysend you can send money from the following countries

    Paysend allows you to send money to and from over 150 countries. Some of the countries where you can send money include:
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    Other Money Transfer Providers

    Frequently asked questions

    Have questions? We have answers!

    Is sending money with Paysend safe?
    How much does Paysend charge for money transfers?
    What payment methods can I use with Paysend?
    Can I send money with Paysend using my bank account?
    How long does a transfer take with Paysend?