Sharemoney International Money Transfer Review

Information verified correct on February 24th, 2017

Speedy international delivery and ease of tracking your money across the globe.

Long gone are the days of tucking a $10 bill in a birthday card and crossing your fingers. Sharemoney makes it easy to securely transfer money abroad.

Sharemoney is part of the Omnex Group, which has specialized in money transfers for over 25 years. Transferring money is easy, whether you’re taking care of foreign relatives or topping up your BFF’s kayaking emergency fund. And Sharemoney keeps your money safe and secure with a tracking number and a range of delivery options, including door-to-door and thousands of pickup locations. Sharemoney doesn’t cover all locations, but it’s adding new territories, so confirm that your money can get where it needs to.

Product details

  • Rates: Updated daily. Users report great rates compared with other services.
  • Fees: From $2.99; if you pay for your transfer with a credit card, you may incur additional fees from your issuing bank.
  • Tracking: Yes, using your Money Transfer Number.
  • Payment methods: Debit card, credit card and bank account.
  • Payment limits: Up to $2,999.99 every 24 hours, up to $2,999.99 every 15 days and up to $9,999.99 in a 180-day period (but you can send up to $9,999.99 within 15 days if you provide additional information).
  • Delivery time: Bank deposit and cash pickup from 15 minutes to 24 hours; home delivery from 24 to 48 hours. Additional delays may apply due to security, banking holidays and the payout agency’s hours of operation.
  • Countries: Argentina, Bolivia, Brazil, Burkina Faso, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, India, Mexico, Nigeria, Panama, Paraguay, Peru, Philippines, Senegal, Uruguay and Vietnam.

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Rates last updated February 24th, 2017

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What are the benefits of Sharemoney?

With competitive fees and rates along with a simple, fast service, it’s worth keeping Sharemoney in mind for unexpected family emergencies. Supporting your loved ones abroad is easy, because signing up for an account means that once you’ve paid someone, you can repeat the transaction with two clicks. Users report fast delivery times and easy pickups — and Sharemoney can even text you when your money’s arrived.

  • Low transfer fees. Starting at $2.99, fees vary across countries and territories.
  • Exchange rate calculator. See on its site exactly how much your friend or relative will get.
  • Fast service. You can buy your pen pal dinner in less than 15 minutes.
  • Door-to-door delivery. In as little as 48 hours.
  • Offers and discounts available. You might be able to grab a bargain on Sharemoney’s Facebook page.

Shopping for an alternative? Compare these services to Sharemoney for money transfers.

How to ensure a smooth transaction

According to Sharemoney, they’ve made great improvements in customer service wait times and resolving transfer issues. As with any money transfer provider, set aside time to resolve issues on the phone if you feel you need to talk to a representative. They don’t send money to every location, so make sure your country or territory is covered before you need to send.

  • Not every country is covered. Although they’re adding countries, you should double check that your destination is covered.
  • Exact pickup location needed. If you choose cash pickup, you must specify the store — not only a branch — for your friend or family to visit. This might be frustrating if your payee doesn’t live nearby or have transportation.
  • Be aware of daily transfer limits. Look at your options if you need to send $10,000 or more.

What information do I need?

  • Bank account, debit card or credit card. Paying with a credit card will incur additional fees with your bank.
  • Personal identification. Clarification if needed.

How to transfer money with Sharemoney

  1. Visit Sharemoney.com.
  2. Click the country you’d like to send money to and your method of delivery.
  3. If you choose cash pickup, select the bank you’d like to send the money to.
  4. Enter your account details and upload any ID.
  5. Enter the details of the friend or family member you want to send money to.
  6. Enter your payment method.
  7. Click “Done.”
  8. Your transfer is being processed. Make a note of your Money Transfer Number.

How to send cash overseas with Sharemoney

I transferred the money – now what?

Your loved ones will see your cash gift in no time at all.

  • For cash pickup, tell your recipient the exact store location you chose for it. They can’t request your transfer from any other branch. The money should be available for pickup within 24 hours.
  • For a bank deposit, your money should arrive within 24 hours.
  • For home delivery, the money should be at their door within 24 to 48 hours.
  • Track your money using your Money Transfer Number — just enter it into the main Sharemoney website for an update.

Sharemoney summary

Sharemoney is great if you have friends or family abroad, but not ideal if you need to send large amount of $10,000 or more. Excellent exchange rates and transfer fees make it a strong competitor, but as with any money transfer be sure to track your transaction.

Need an international money transfer but aren’t tempted by this offer? Compare other products.

FAQs

How much will it cost?

Fees start at $2.99 but vary according to country and how much you’re sending.

Is the exchange rate good?

Sharemoney’s exchange rate is considered really good among online reviewers, especially when compared with other providers such as Xoom.

Where can I send money?

Argentina, Bolivia, Brazil, Burkina Faso, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, India, Mexico, Nigeria, Panama, Paraguay, Peru, Philippines, Senegal, Uruguay and Vietnam.

How much can I send?

Up to $2,999.99 in one transaction every 24 hours, up to $2,999.99 every 15 days and up to $9,999.99 in a 180-day period. You can apply to send up to $9,999.99 within 15 days, but you’ll need to submit additional information to comply with state and federal regulations.

Is it secure?

Sharemoney protects its site using SSL encryption, which keeps your details — and the details of who you’re paying — completely safe. ID is required when your payee collects in-store.

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