Pangea money transfers review February 2018 | finder.com

Review: Pangea international money transfers – February 2018

An easy-to-use transfer service for sending money to Latin America and Asia

Pangea offers a streamlined and an easy-to-use online and mobile app money transfer service for those who need to send funds to South America and Asia. You’ll see the current exchange rate for your transfer as well as your flat transfer fee before you send money with Pangea, and most funds are sent within 24 hours.

Product NamePangea
Min. Transfer Amount$20
Max. Transfer AmountNo limit
Transfer Methods
OnlineCash Transfer
Transfer Options
Banking PartnerPangea USA, LLC
Customer Service
PhoneChatEmail
Available CurrenciesBDT, CNY, COP, DOP, GTQ, HNL, IDR, INR, MXN, MYR, PHP, SGD, SVC, THB, VND
Exchange Rate UpdatesDaily

Simple transfers on the go

Sending money to Asia and Latin America with Pangea’s mobile app makes transfers simple. Complete a transfer in less than 30 seconds while on the go and pay with any US debit card.

Our experience transferring money with Pangea

Here’s what we found when we sent a live transfer to Mexico through Pangea:

  • Pangea’s transparent fee structure meant that we paid a flat fee of $4.95, and our competitive exchange rate was within 2.5% of the mid-market rate, with rates updated multiple times a day.
  • Pangea’s easy-to-use website allowed us to sign up and initiate a transfer in about 4 minutes.
  • While the estimated delivery was 24 hours, our funds were deposited into our recipient’s Mexican bank account immediately.

money transfer awards logo-mobile

We recognize Pangea as a winner of two categories in the finder.com Money Transfer Awards 2017: Best User Experience and Fastest Transfer.

How much does Pangea Cost?

The fee you’ll pay to transfer funds with Pangea depends on where you’re sending the money and whether you are paying with cash or by debit. The option to pay with cash is only available in Illinois.

CountryPay with debitPay with cash
Mexico$4.95$5.99
China$8.00$5.99
India$4.99$5.99
Philippines$4.95$5.99
Bangladesh$4.95$5.99
Colombia$4.95$5.99
Dominican Republic$4.95$5.99
El Salvador$6.95$5.99
Guatemala$4.95$5.99
Honduras$6.95$5.99
Indonesia$4.99$5.99
Malaysia$5.99$5.99
Singapore$5.99$5.99
Thailand$5.99$5.99
Vietnam$4.95$5.99

Exchange rates

Pangea updates its exchange rates online every day. It skews the exchange rate for a profit, so if the mid-market exchange rate is 1 USD = 18.91 MXN, Pangea might offer a rate of 1 USD = 18.55 MXN.

What types of transfers does Pangea support?

Pangea limits the ways in which you can fund your transfer and how your recipients can receive money.

Sending money

  • Debit card. Most transactions will require you to pay with your debit card.
  • Bank transfer. Bank-to-bank transfer options are available when sending money to Mexico only.
  • Cash. If you live in Illinois, you can pay for your transfer with cash at 7-Elevens.

Receiving money

  • Bank transfer. Bank-to-bank transfers are available to recipients in Mexico only.
  • Direct deposit to debit card. Direct deposits to a debit card are only available to recipients in select countries.
  • Cash pickup. Cash pickup is available in most countries at one of Pangea’s 12,000 locations.

Pangea does not offer the flexibility of rate locks, forward contracts or recurring transfers. You can only send one-off transfers.

Pangea is not available in all states

If your state of residence is not listed here, you can’t send money with Pangea. Here are the states where Pangea is available:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Maine
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • New Jersey
  • New Mexico
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin

Pros and cons of using Pangea

Pros

  • Quick and easy transfers. Whether using your computer or an app, Pangea’s online transfer process is simple and straightforward.
  • 12,000 pickup locations. Your recipients can easily pick up their funds at one of Pangea’s many agents worldwide.
  • Referral promo. Earn $20 off a future transfer by referring friends.

Cons

  • Limited services. If you’re not a resident of one of the 14 states Pangea services, you’ll need to find another provider.
  • For individuals only. If you’re a business looking to schedule payments, you’ll need to look at other services.

How do I send money through Pangea?

Sending money through Pangea is quick and easy online or on the mobile app. To initiate your first transfer:

  1. Create a free account with your mobile number, full name and address.
  2. Enter the amount of money you want to send and to which country.
  3. Review the current exchange rate and your transfer fee.
  4. Pay using a debit card, bank transfer or cash.
  5. Your recipient will receive a text message with a unique transfer code to use when picking up cash at one of Pangea’s 12,000 locations.

Next steps

Once you initiate your transfer, you’ll pay with a debit card, bank transfer or cash at a 7-Eleven location in Illinois.

When your transfer is complete, your recipient will get a text message with a transfer code to pick up the cash at one of Pangea’s many locations.

Bottom line

Pangea is a great option if you want to send money to Latin America or Asia, although there are limitations on how you can fund your transfer and how your recipients can receive the funds.

You may be able to find a more competitive exchange rate, depending on your transfer options. It’s not a bad idea to compare your options before making a final decision.

See how other money transfer services compare to Pangea

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