Paysend review
- Minimum Transfer Amount
- $1
- Pay By
- Bank transfer
- Fees (Pay by Bank Transfer)
- $0
Our verdict
Paysend offers speedy money transfers at a fixed fee of $3, but it also has markups to its exchange rates.
Through XE's extensive network, you'll be able to transfer money to more than 190 countries in more than 130 currencies. And there's only a small fee to pay on transfers below $500 CAD, which you'll be shown upfront. But pay close attention to transfers without a fee and check you're ok with the exchange rate markup as you won't find the mid-market rate being used on any of XE's transfers or its online calculator.
Most of the money transfers are completed in minutes. Occasionally certain factors can affect the transfer completion date. Xe keeps clients updated by email throughout the process.
Details
Product details
| Product Name | Paysend |
| Pay By | Bank transfer |
| Receiving Options | Bank account |
| Customer Service | Live chat, Email |
| Available Currencies | AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, ILS, KZT, NOK, PLN, RUB, SEK, TRY, UAH, USD, UZS |
Our verdict
Paysend is an online only money transfer specialist that lets you move money to more than countries around the world. There’s a simple flat fee structure and you’ll always know how much your recipient will get before you proceed. That said, there are markups to the exchange rates, which can add to costs.
You also won’t be able to pay in cash or send cash pickups in Canada as Paysend has no physical locations here. The big plus is that Paysend estimates online delivery within minutes for most transfers.
Is Paysend legit?
Paysend is regulated by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and Autorité des marchés financiers (AMF). Its registered office is in Calgary, Alberta.
Advantages of using Paysend
- Straightforward fee structure. When sending from Canada, the fee is always $3.
- High app ratings. At the time of writing, Paysend has a rating of 4.7 out of 5 stars on the Google Play store with over 10 million downloads and 4.8 out of 5 stars on the Apple store with over 21,217 ratings.
- Some flexibility. You can send money using bank cards or accounts or by simply using a phone number.
- Speed. Paysend has an estimated delivery time of just minutes for most transfers.
- 24/7/365 support. Contact Paysend any time through chat or email for assistance.
What to watch out for
- Exchange rate markups. Paysend makes money by offering less-than-ideal exchange rates on transfers.
- Restricted sending options. Paysend doesn’t accept cash payments or allow cash deliveries.
- Less established. Paysend is less established in Canada compared to other money transfer specialists.
Paysend exchange rates and fees
Paysend’s fees and exchange rates are fairly straightforward when sending money from Canada, regardless of the payment method.
Paysend fees
Paysend fees are always a flat rate of $3 when you’re sending from Canada.
Paysend exchange rates
Paysend doesn’t offer the mid-market exchange rate, which is the best possible rate you can get for a currency pair. Instead, Paysend adds a margin onto the exchange rate to make money. The table below provides an idea of the margins Paysend might charge on its exchange rates. Note that, the higher the margin, the less money recipients will get.
When we checked on August 12, 2025, Paysend’s exchange rates were as follows:
Note: Paysend updates its rates daily, so these numbers are just an indication.
| Transfer | Paysend rate | Mid-market rate | Markup |
|---|---|---|---|
| CAD to MXN | 13.3996 | 13.4951 | 0.71% |
| CAD to PHP | 41.1966 | 41.31267 | 0.28% |
| CAD to INR | 62.9769 | 63.6274 | 1.02% |
How long does a Paysend money transfer take?
According to Paysend, most transfers happen in a few minutes or less. However, there are some factors that may influence the time it takes for transfers to arrive:
- Bank accounts: instant or up to three business days. Paying by, or sending to, a bank account may delay a transfer by a few business days depending on the bank’s processing times.
- Debit and credit cards: typically instant. Card transfers through Paysend typically process and are delivered within a few minutes at most.
What currencies can customers send with Paysend?
Paysend offers transfers to 13 currencies, including:
- China: Chinese yuan (CNY)
- Europe: Euro (EUR)
- United States: United States Dollar (USD)
- United Kingdom: British Pound Sterling (GBP)
Paysend reviews
Overall, Paysend reviews are positive, with a Trustpilot score of 4.2 out of 5 stars when we checked on July 22, 2025. Paysend has more than 37,000 Trustpilot reviews, with 85% of those rated Excellent.
Is Paysend safe?
Paysend has several security measures to help ensure safe money transfers, including:
- Bank-level security: All money transferred through Paysend uses the same security as major banks.
- Encryption: Your information is encrypted on Paysend’s platform to prevent unauthorized parties from accessing your data.
- 24/7 customer service: If customers ever have a problem, you can contact Paysend at any time.
- 2FA: Two-factor authentication helps keep your account even safer by preventing you from logging in unless you have access to your phone.
What payment methods does Paysend accept?
Paysend allows payment in several ways:
- Credit card
- Debit card — Mastercard or Visa
- Bank account
There are no additional fees from Paysend depending on how customers pay. Customers should double check with their bank or credit card company, though, as fees may apply on their end.
What delivery methods does Paysend offer?
Transfer methods through Paysend are a bit limited:
- Delivery to bank account
- Delivery to bank debit card
The availability of these methods varies depending on what country you’re sending to.
What customers need to send money online through Paysend?
Customers will need to provide the following to send their first payment through Paysend:
- Phone number
- Address
- Legal name
- Payment method
Paysend sending limits
Paysend limits accounts until customers provide verification. Here are the limits:
- Basic: Send up to a total of USD $999 or 5 transfers
- Advanced: Send up to USD $5,000 per month
- Ultimate: Send up to USD $10,000 per month
Upgrading a customer account requires identity verification, which may include submitting proof of identification, a US Social Security number and income details.
How to make a first-time transfer with Paysend
Signing up with Paysend can be done online or through the mobile app:
- Provide a phone number
- Enter a name and date of birth
- Enter a home address, including apartment or suite numbers
- Provide an email
- Agree to Terms and Conditions
- Verify the email and phone number provided
- Start sending money
My experience with signing up
I signed up for Paysend in about three minutes. At first I tried to sign in using a VoIP number app, but Paysend doesn’t allow VoIP. I had to use my real phone number instead.
Creating an account was mostly painless, with the largest chunk of time spent waiting for the verification email to send. (Hint, my verification email went to my “Promotions” inbox, so be sure to look around if it isn’t arriving right away).
- Did I have to interact with customer service? Nope, everything was automated.
- How long did it take? About three minutes, but it could have been quicker if I’d found my confirmation email sooner.
- What was unexpected? VoIP numbers aren’t accepted, so if you rely on VoIP number services instead of mobile provider numbers you might have issues signing up.
How to track a Paysend transfer
To track a Paysend transfer, customers either need to log in to the website or open the mobile app. Afterwards, they should:
- Navigate to the History section
- Look at the symbol next to their transfer
- Green circle = successful transfer
- Black clock = in transit
- Red “X” = failed transfer
- For transfers that are in transit, customers should allow up to 3 business days for the transaction to complete before contacting customer service.
Is there a Paysend app?
Yes, Paysend has an app on both Google Play and the App Store. The app makes it possible to:
- Log in using biometrics. Both face and fingerprint recognition can be used to log in.
- Check exchange rates on the go. Up-to-date currency exchange rates and fees can be found in the app.
- Track transfer. Customers can see the status of their transfers and contact customer support with any questions.
| Ratings collected on July 22, 2025 | |
|---|---|
| Google Play Store | 4.7 out of 5, based on 133,000+ customer reviews |
| Apple App Store | 4.8 out of 5, based on 21,000+ customer reviews |
More on the best money transfer apps
How does Paysend compare to other services?
Bottom line
Overall, Paysend is a fairly straightforward way to send money internationally. With flat fees, competitive exchange rates and typically quick transfer speeds, Paysend users can send money with ease. However, Paysend doesn’t send everywhere in the world and could have better rates, so be sure to compare money transfer companies before settling down with one.
Frequently asked questions
Is Paysend’s app safe?
Paysend’s mobile app uses the same security for transfers as the website does. In addition to this, features like 2FA and biometric login can further protect customers’ accounts on the Paysend app (when enabled).
Does Paysend allow refunds?
It is possible to cancel and refund a Paysend transaction as long as it hasn’t been delivered. To do so, customers should contact customer support, and request a refund. The status of a transfer can be checked in Paysend’s app or online under account history.
Sources
Your reviews
Zak Finder
Publisher
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