Placid Express Review

What is Placid Express?

Founded in 1996, Placid Express is an online money transfer provider with services from the US to Bangladesh, the Philippines, Nepal, Sri Lanka and Pakistan. It supports about 26 or so other countries through its agent network of direct bank partners that makes for speedier transactions.

With Placid Express, you can send bank-to-bank transfers and instant SpotCash pickups at authorized payout locations with only a tracking number and government-issued ID.

If you pay with a credit or debit card, your transfers are typically completed in an hour. Otherwise, your recipient could wait up to three business days to see your funds.

How much will I pay to send money with Placid Express?

How much you’ll pay varies by transfer amount, destination country, transfer method and how you’re paying — making it hard to pin down your exact fees ahead of time.

For example, you can send $5,000 to India from your bank account with a $1 transfer fee. If you send the same amount to India with a debit card, you’ll pay $1, and credit card payments jump to $201 in fees. Note that each method also comes with a slightly different exchange rate on your currency.

How are Placid Express’s exchange rates?

Placid Express boasts competitive exchange rates — especially to India. Exchange rates vary slightly by transfer method, with bank account payments tending to come with stronger exchange rates than debit or credit card payments.
You can confirm exchange rates for each country Placid Express sends to through its easy Rates & Fees calculator. If there’s any change in the rate up to the time you finalize your transfer, you’re notified right away.

Minimum transfer amounts and available countries

Placid Express accepts transfers of $10 or more to:

While it processes transfers to Bangladesh, Nepal, Pakistan, Philippines and Sri Lanka on its own, transfers to other countries are carried out through its worldwide agent network.

What types of transfers does Placid Express support?

With Placid Express, you can pay for your transfer by:

• Bank account withdrawal. You provide your bank’s routing number and your account number for transfers delivered in three to five days.
• Major credit card. Use your Visa, Mastercard or Discover card to fund transfers delivered in under 24 hours.

Depending on where your recipient lives, you can deliver your money as a:

• Local bank deposit. Bank to bank transfers aren’t only convenient, but they’re also your cheaper option.
• SpotCash pickups at any participating agent. Unlike other services that require you to select a specific location for pickup, your recipient can use your tracking number to collect money at any participating agent in Placid Express’s network.

What to look out for

When sending money from the US, you can transfer up to $2,400 weekly — which might not cover all of your transfer needs.

Placid Express also doesn’t support all countries worldwide, which means you’ll want to first confirm that your recipient’s country of residence is included in its network.

How does Placid Express compare to other services?

How safe is Placid Express?

Placid Express is a safe, legitimate company that’s registered with US regulatory bodies and those in Canada, Italy, the European Union and Malaysia. Its site encrypts all personal and financial details sent through its site, and it rejects payments from bank accounts or cards that aren’t in the name of the sender.

How do I track my Placid Express transfer?

Placid Express assigns a unique tracking number to each transfer it completes. Use this number to track the progress of your transfer online. If your recipient is picking up your transfer as cash, they’ll need to provide this number to the agent, who’ll then release your funds.

Placid Express reviews and complaints

Placid Express rates well in the online world. It’s received more than 1,422 reviews on Trustpilot and averages at robust 4 out of 5 as of October 2020. Many customers like its strong exchange rates, quick turnaround and customer service.

How do I send money through Placid Express?

To initiate a transfer with Placid Express, you’ll need to first register as a customer.

1. Go to Placid Express’s site and click the orange Send money now button.

2. Enter your name, email address, phone number and state of residence, indicating a password for future login.

3. Once you’ve received your confirmation email, log in with your email address and password to complete your registration.

You’ll set up your transfer by indicating your recipient’s banking details or a cash pickup location near their place of residence. For cash pickups, you’re provided a tracking number that your recipient will use, along with a government ID, for a direct pickup at any agent in Placid Express’s network.

Bottom line

If you live in a state it services, Placid Express could be a quick, cheap way to send money to friends and family in 25 or so countries. You can send money for bank deposit or a cash pickup at any agent in its network without having to specify the exact one ahead of time.

Frequently asked questions

• Can I cancel my transfer with Placid Express?

  Yes, but you must do it within 10 minutes of receiving your transaction receipt. If you miss the window, you might still be able to cancel the transfer as long as the funds aren’t yet disbursed. Simply call 877.889.7021.

• Does Placid Express’s application require verification of my ID?

  It might. Placid Express can request a copy of your government-issued ID, like your passport, driver’s license or state ID.

• Does Placid Express offer an app?

  No. To send a transfer with Placid Express, you’ll need to sign up on its intuitive website.

Placid Express is not currently available on Finder

Have you considered Wise (TransferWise)?

Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.

Learn more

No thanks, compare other money transfer options.