Complete Guide to TCS when Remitting Foreign Travel Expenses from India
Complete guide to TCS applicable when remitting from India to cover foreign travel such as for overseas tour packages. We go over the TCS rate and how to claim.
Guide to Transferring Money Internationally with Profee: How much it costs and the Alternatives
Profee is a Cyprus-based company that offers fast and convenient ways to send money internationally. Their focus is on card-to-card transfers, providing an alternative to bank-based remittance services. In this article, we'll delve into Profee's features, fees, security, customer reviews, and more.
| 📋 Complete Guide to Profee International Transfers |
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Profee Supported Countries
Profee supports sending money from most countries in Europe, including Switzerland and the UK. The full list is available here. With Profee, you can transfer money to 65+ countries, listed here.
If you'd like to send transfers from a country other than the one listed above, you'll need to use another method. We invite you to check out Wise as a convenient alternative for secure international transfers from a wider range of supported countries.
How Profee Works
Profee supports transfers from sender's Visa, MasterCard or Maestro card issued in a supported sending country. You can also use Google Pay or Apple Pay, and fund your transfers via SEPA, Sofort or BLIK.
You can send the transfers to the recipient's Visa, MasterCard or Maestro card in a supported sending country. Based on the destination, you may even be able to send money to bank accounts or through local payment methods such as UzCard and HUMO.
Profee Account Types: Transfer Limits and Requirements
You can sign-up for Profee directly from their website or app with your phone number.
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When you sign-up for Profee, you are required to provide your general information and contact details. You start with a Basic account that supports transactions of up to EUR 500, with an over limit of EUR 1000.
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By providing your proof of identity and residency, you can upgrade to a Plus Account that comes with an annual transfer limit of EUR 30,000.
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You can additionally provide details and proof of your source of wealth for a Premium Account that supports an annual limit of EUR 100,000.
The account verification process is a compliance requirement that helps ensure secure money transfers.
Profee Fees and Exchange Rates
Profee charges a transfer fee that is no more than 1% from the transfer amount. For cross currency transfers, there's a fixed fee EUR 1 EUR, USD 1, or GBP 1 depending on the origin and destination of the transfer, with commission-free transfers to certain countries.
Depending on the sending amount and destination, you may be eligible for no fee and promotional exchange rate for your first transfer.
On subsequent transfers, Profee charges a markup of 0.5% on the mid-market rate when converting currencies.
There are additional charges based on the method used to topup the Profee account and to withdraw money to a bank card. Click here for a complete overview of Profee fee structure 👉
| Considering cheaper alternatives for international transfers |
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| Low fee with markup on exchange rates on Profee can sound attractive for low-amount transfers. But the costs can add up substantially with larger amounts. As a convenient alternative, we invite you to check-out Wise. Wise offers money transfers globally, with currency conversion is always at the mid-market rate without any markups — this is the same rate you see on Google. Wise displays the transfers fee separately upfront for any transfers, so there's no hidden cost for sending money abroad |
Profee Wallet and Multi-Currency Account
In Profee supported countries, users open a multi-currency account that supports holding balances in their available currencies. This comes with a linked Profee Visa card that provides a convenient alternative to banking. The digital card is available for free and you can request a physical card for the issuance fee of EUR 9.99. Click here for a complete overview of Profee fee structure 👉
| Profee Customer Support |
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You can contact Profee through:
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Meet Wise: A convenient alternative
Going beyond transfers, Wise offers an ideal alternative available in a wider range of supported countries. Enjoy an account as worldly as you are and spend just like a local when you travel abroad with a linked debit card, without worrying about any markups on the mid-market exchange rate.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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Complete guide to TCS and remitting for foreign education expenses from India. Our guide covers the applicable rates, how to claim TCS, and tips to avoid them.
Complete Guide to TCS when sending money abroad from India
Sending money abroad from India? Check out our guide to TCS charged on foreign remittances, with an overview of rates and how to claim it back with your ITR.
Guide to EzyRemit for international transfers: Pricing, Reviews, and Alternatives
Our guide to EzyRemit worldwide money transfers provides and overview of their fees, how it works, and what you need to know before using it.
Remit to India with DBS Bank: Guide to DBS India Remit for NRIs in Singapore
Overview of DBS India Remit service that provides remittances to India for DBS account holders in Singapore with a How-to Guide and expected costs.
विदेश से भारत पैसे कैसे मंगाए: अलग-अलग तरीकों के बारे में जानकारी, फीस, और बचत के सुझाव
विदेश से भारत पैसे कैसे पैसा मंगाने के विभिन्न तरीकों के बारे में जानें। आइये इनकी फीस और समय को समझते हैं।
