Paysera is an inexpensive option when you’re sending money between Paysera accounts, but be wary of the high number of negative reviews online.
Paysera offers businesses the convenience of syncing an e-shop with its checkout system, connecting you with more than 180 countries. While handy for businesses, its personal money transfer service is more limited.
Make a money transfer to a Paysera account for free
Paysera has catered to international businesses and individuals since 2004. Anyone with a personal Paysera account can transfer funds to another Paysera account for free. For a small fee, you can also send money in more than 30 different currencies to a recipient’s bank account.
Businesses can benefit from Paysera’s streamlined purchasing process, especially when working with international customers.
Paysera fees
You won’t pay a fee to transfer money between Paysera accounts. When sending funds to a bank account or an e-wallet system, your cost will vary depending on your currency and the speed of the transfer.
For example, to send $2,000 to your family in the US, you’ll pay a flat fee of €7. If the current exchange rate is CAD1 = USD 0.71, Paysera might offer an exchange rate of CAD1 = USD 0.67. With this rate, your family would receive US$1,346.37 in 2 to 3 business days.
Exchange rates
Paysera can save you money with its competitive exchange rates. It posts these rates alongside the mid-market rate so you can compare the exchange, usually within a 1% margin.
What types of transfers does Paysera support?
Paysera provides one-off transfers, as well as business solutions. Fund your transfer using your debit card, or make a purchase through the Paysera checkout system.
Personal money transfers
One-off transfers
Business accounts
Payments via POS and mobile e-shop systems. Use Paysera’s convenient checkout system for mobile and physical POS locations with the Paysera Visa card.
Event ticketing. Sell tickets to an event. Create, manage and edit your event at any time.
Mass payments. Make mass payments in real time with Paysera’s API.
Pros and cons
Pros
Speedy transfer deliveries. In many cases, your recipient can access their funds within minutes. Even the slowest delivery speeds can be quicker than most competitors.
Low, even free, transfer fees. When you transfer money between Paysera accounts, it’s free. Fees to other accounts are low compared with other transfer services.
Manage business revenue with Paysera checkout. More than 5,000 e-shops currently use Paysera’s checkout method.
Cons
Negative reviews. A quick Google search shows quite a few negative reviews.
Limited transfer options. Send money from your bank account or between Paysera accounts only.
Limited customer service. Customer support in Canada is limited to filling out an online form or calling an overseas number.
How do I send money through Paysera?
To start your first transfer:
Register for a free account on Paysera’s website.
If transferring to another Paysera account, enter the recipient’s email address, phone number and Paysera account number, along with the amount you’d like to transfer. If transferring to a bank account, enter the amount you’d like to transfer and your recipient’s account information.
Fund your money transfer with your Paysera account or a debit card.
When you initiate a transfer between Paysera accounts, funds are available within minutes. For transfers to other accounts, your transfer may take from one to three business days.
Bottom line
Paysera offers several business features, but personal services in Canada are limited.
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
To create a business account, you must be the head of a company holding a personal Paysera account at level three or higher. Simply log in to your personal account, click “Company account” and complete your business registration information.
Install Paysera’s checkout system by using one of the 18 available plugins for major content management systems like WordPress, Joomla and ImpressPages.
Paysera operates in more than 180 countries: 48 in Europe, 55 in Asia and Oceania, 47 in Africa and 34 in the Americas.
Adrienne Fuller is the former head of publishing at Finder US. With a decade of experience creating guides in finance and education, she aimed to deliver the accurate and transparent information she wished she had when she made some of life's important financial decisions. Adrienne has a BA from Colorado College and loves to hike with her two Catahoula dogs.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
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