Profee Product Review

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Profee Fees and Rates

While Profee doesn’t have any hidden fees, it applies a 0-4.5% commission rate per transaction, but not higher than 1 EUR/USD/GBPThe commission rate is based on a variety of factors, including the following.

• The currencies being used
• The total amount of the transaction
• Where you send the money to and from
• The means Profee needs to use to deliver the payment

The exact commission to be applied will be stated on the transfer confirmation page, as well as the exchange rate, before you complete the transfer. Profee also features a transfer calculator, which immediately shows the amount that will be credited to the recipient’s card. However, Profee cannot guarantee exchange rates, so the final amount delivered may vary slightly.

Additionally, Profee cannot guarantee that fees won’t be applied by the institution that issued the card. 

How Does It Work?

Transferring money with Profee can be done in a few simple steps. 

1. Download the app or head to the website, enter the amount you’d like to transfer, and select the currency. You will see the exchange rate that will be applied and the estimated amount that will be credited to the recipient. 
2. You will then be prompted to register by entering your name, phone number, email address, residential address, date of birth, and citizenship information. 
3. Enter the card details of the sender and the recipient, and then hit send. 
4. You’ll be sent an SMS code to verify the transfer.

Profee allows you to send up to 150 euro per month if you have Profee’s free Basic account. This is the account you’ll be given automatically upon registration.

If you wish to send more money per month, you can opt for Profee Plus, which is again free. Profee Plus allows you to make transactions worth 15,000 euros annually (or the equivalent in local currency). You can upgrade your account to Profee Plus in a couple of minutes by following these steps.

1. Collect 2 different types of documents: one to confirm your identity and one to confirm your residence. Documents to confirm your identity include internal passports, international passports, or ID cards (only applicable for EU citizens). Documents to confirm your residency include utility bills, municipal tax bills, house insurance forms, internal passports, or bank account statements. Residential documents should be issued in the last 3 months, unless you’re using an internal passport. 
2. Log in to Profee and select “Upgrade your account,” then follow the instructions provided. 
3. Approval usually takes minutes, but it  may take up to 5 business days in some cases.

Profee also features a transfer calculator, which immediately shows the amount that will be credited to the recipient’s card. However, Profee cannot guarantee exchange rates, so the final amount delivered may vary slightly. 

How Long Does It Take?

Once you hit transfer, the money will automatically be sent to the recipient’s card. According to its website, Profee money transfers take just two minutes on average to reach recipients, and card-to-card transfers occur instantly. In some cases, depending on the card issuer of the recipient and the country the card is issued the transfer may take longer time.

Profee Top Highlights

• A handy transfer calculator that immediately shows how much will be credited to the recipient’s card
• Real-time transfers directly from card to card
• Safely stored and encrypted card data that’s in compliance with international PCI DSS standards
• Two-factor authentication to protect your account
• Competitive, real-time exchange rates that can be viewed before transferring money

Customer Support

Profee offers customer support via live chat, email help@profee.com, and phone +357 22 000 253. Customer service representatives speak English, Greek, and Russian, and are available Monday through Friday from 9:00 AM to 9:00 PM (GMT +3).

Privacy and Security

Profee uses end-to-end data encryption and applies 3DS verification for card payments. It is GDRC compliant and is PCI DSS Level 1 Provider certified, meaning it ensures the security of card data according to international standards. Profee also conducts online monitoring to prevent fraudulent activities, and it has a secure data center located in the Netherlands.

Online Experience

Profee offers a robust website and mobile app. While you can use the mobile app to send and receive payments, you’ll need to access their website to sign up for an account. 

You can view rates before you transfer money via the website or mobile app. 

When using Profee for your personal finances, the app allows you to easily view your balance, and you can top it up in a matter of seconds via Visa, Mastercard, or online bank transfer. 

You can also receive funds through your smartphone using a QR code, and you can request funds by creating a custom payment link with the amount.

Summary

Profee is a card-to-card money transfer service that allows you to quickly send and receive payments. Once you enter the amount you’d like to transfer and select a currency, you can quickly register and finalize a transfer.

 If you wish to transact more than 150 euros a month, you can upgrade to the free Profee Plus account. While all money transfers can be completed through its website, using Profee’s mobile app for your personal finances also offers QR scanning and payment notification links. EU&UK residents can also take advantage of the Profee digital card, which can be used for online and in-store purchases.

Methodology

Information was gathered for this review using the Profee website. 

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