Overview

When you look online to make an international money transfer do you keep coming across powermoney? It's often the cheapest money transfer company, but does this mean it's reliable? In this review, we help you figure out if powermoney is the best and the safest option for you to use.

Who is Powermoney
Money Transfer?

powermoney Money Transfer is an online money transfer company that offers a cheaper and faster way to send money internationally. As a trusted and seasoned name in foreign exchange, they could be a good option for your international money transfer.

They have millions of customers and handle billions in transactions every year.

They have millions of customers and handle billions in transactions every year.

Powermoney is good for

  • Offering the best exchange rate
  • Very transparent with transfer fees
  • No minimum money transfer
  • $1 million maximum money transfer

Powermoney rating: 4.8 / 5.0

(42,223 Reviews)

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Powermoney Money Transfer

Pros and cons

For most international transfer needs, we love PM, but they’re not quite perfect. Let’s break it down and explain what PM is great at and where they have a few issues.

  • Money transfer services are very easy to use.
  • Being a very well known and trusted brand can put your mind at ease.
  • They have a very informative website that can keep you up to date with any currency news.
  • No transfer fees, no matter the amount you're transferring, and no minimum transfer amount.
  • Support available for both individuals and businesses.
  • Good and easily accessible customer support.
  • Limited currencies available to transfer.
  • Not the cheapest option for small, regular transfers.
  • They do not accept payment by cash or cheque.
  • No customer service on weekends.
  • Powermoney currency calculator doesn't quote the actual rate you get for your transfer.
  • Powermoney currency calculator doesn't quote the actual rate you get for your transfer.

How to use PM money Transfer

It's Really Easy!

There are three main steps to setting up an account with PM, which we have outlined below. You can also watch our video tutorial for a complete guide.

1

Register

Register with them online, it‘s easy and will take no more than 5 mins

2

Transfer

Confirm the details of your transfer the recipients details and how you’d like to pay

3

Pay

Pay for your transfer and you’re done! PM accept payment via bank transfer.

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Great to deal with and excellent market knowledge. Was able to source exactly what I needed in a short time. Will use this service again soon.

Donnie Neal

Great to deal with and excellent market knowledge. Was able to source exactly what I needed in a short time. Will use this service again soon.

Donnie Neal

Great to deal with and excellent market knowledge. Was able to source exactly what I needed in a short time. Will use this service again soon.

Donnie Neal

Testimonials

Trusted from our clients

Don’t take our word for it.See what our past clients say.

Is PM Money Transfer safe?

A question we often get is PM Money Transfer actually legit? The answer is yes. PM take their legal responsibilities very seriously. They are regulated in every country they operate.

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How fast is PM?

PM says that it sends out most transfers on the same day that they get your money. The reason they say “most” is that there are a few areas that will affect the speed of the transfer.

  • These include:
  • the currencies you’re moving money between
  • the countries where the money needs to be sent
  • when you’re sending money
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What are PM's fees?

The one thing you really need to know is how much PM charges to send money overseas. The good news is that PM doesn’t charge transfer fees, and you can get competitive rates. Of course, that’s not the same thing as saying they are the very cheapest!

Depending on the currency you’re exchanging into, you’ll normally pay between 0.5% and 2% more than the base rate, interbank rate when you’re sending money to a popular destination.

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Does PM have
an App?

When you have an account with PM, you can make transfers through their website, or through their iOS and Android apps.

The company has an app to check currency exchange rates and one to make the actual transfers. Having this on your phone will make it a lot easier to make transfers on the go if you need to.

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Remittance & Money Transfer Guide

Read our guides on sending money abroad

Tips and Advice For Sending Money Overseas

Find the Cheapest Way to Send Money Abroad Jan 28, 2021
The User Experience of Sending Money Online Jan 28, 2021
6 Reasons to Compares Money Transfer Services Jan 28, 2021

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