Has anyone tried to send money on Paysend.com?

fantasyvn · 17 January 2019 at 7:24PM

Could you pls advise?

Paysend.com is a " the next generation money transfer platform allowing to send funds directly to any Visa, MasterCard and UnionPay cards in 70+ countries. It’s a fast, easy and secure way to send money to your loved ones at a fixed low price".

I understand that this is just one among many recent money transfer platforms that promise cheaper transfer worldwide.

Is it safe if you use Paysend.com - or other similar websites, for that matter - to a developing country like Burma, Bangladesh, etc?

colsten · 17 January 2019 at 11:19PM

I don't know anything about paysend. The one thing it will have in common with all the other currency transfer services is that your money won't be FSCS protected once it leaves your current account. The other thing to keep in mind is that any cash withdrawals from credit cards will usually involve charges.

PRAISETHESUN · 18 January 2019 at 11:18AM

I'd probably stick with more well-known services if you are having reservations - Revolut and Transferwise are the two I have experience with and could reccomend. Otherwise see below:

https://www.moneysavingexpert.com/banking/foreign-currency-exchange/

fantasyvn · 18 January 2019 at 1:16PM

Thank you so much for your kind replies so far. These platforms are new, and I wonder if they will disrupt the market soon.

Thanks,

colsten · 18 January 2019 at 7:56PM

fantasyvn wrote: »

Thank you so much for your kind replies so far. These platforms are new, and I wonder if they will disrupt the market soon.

Thanks,

Some of them have been around for years, and people who are switched on will use their services when they offer an advantage. I have used Transferwise for at least 6 years, and am a big fan of their Borderless account. There are several others but I always come back to Transferwise as they offer me the best all-round service. Many other people here like Revolut. There have been so many of these platforms that there are even comparison services for them now (e.g. fxcompared.com)

When you say these platforms might disrupt the market, what sort of disruption can you envisage?

Has anyone tried to send money on Paysend.com?

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