What is Profee and How Does It Work?

Profee is a reliable international money transfer provider that offers fast, easy, and secure cross-border payments at low costs. It operates as an electronic money institution licensed by the Central Bank of Cyprus (license number 115.1.3.16/2018).

Profee Key Features

It's important to note that Profee's list of supported countries may change over time. As of February 2025, the most recent information available shows that Profee supports transfers to a specific set of countries.

• Purpose: Profee is designed for international money transfers, particularly from European countries to Russia and other CIS countries. 

• License: Sibilla Solutions obtained a license from the Central Bank of Cyprus in 2018 to provide electronic money transfer services.

• Security: The company is required to keep client funds in separate accounts, ensuring that they are not used in the company's operations, which enhances the security of the service.

• Transparency: The cost of the transfer and the amount the recipient will receive are clear in advance.

• Multiple Transfer Methods: Profee allows money transfers from bank cards, via the Sofort system (popular in Germany), and directly from accounts through SEPA. Transfers can also be made using Visa, MasterCard, Apple Pay, or Google Pay. The recipient can receive funds on Visa or MasterCard cards without needing to register on Profee.

• Platforms: The service is available through the website profee.com and mobile apps for Android and iOS.

• Fees: Profee offers commission-free transfers to a number of countries, including Russia, Moldova, Armenia, Kazakhstan, and Georgia (except for transfers in USD).
  Competitive Fees: Charges no more than 1% of the transfer amount, with a 0.5% markup on the mid-market rate for currency conversion.

• Currency Exchange Rates: The service uses its own currency exchange rate monitoring system, offering competitive rates.

• Limitations: Due to international sanctions, there are restrictions on transfers to certain Russian banks.

• Supported Banks in Russia: Profee supports transfers to cards of several Russian banks, including Raiffeisen Bank, UniCredit Bank, Renaissance Credit, Credit Europe Bank, and Ozon Bank.

• Ease of Use: The service features a simple, intuitive interface, making transfers fast and easy.

• Referral Program: Users can earn 10 EUR for each friend they invite to the service.

Profee Transfer Fees

Profee offers competitive and transparent fees for international money transfers, ensuring no surprises along the way. Here's what you need to know:

1. First Transfer: Enjoy a 0% commission on your first transfer, giving you the opportunity to experience the service without any extra charges.

2. Fixed Commission: For all subsequent transfers, Profee applies a fixed commission rate, which may vary depending on the sending and receiving countries, as well as the currency.

3. No Hidden Fees: Profee prides itself on transparency, with no hidden fees—what you see is what you pay. This sets us apart from traditional bank transfers.

4. Competitive Exchange Rates: Benefit from attractive exchange rates that can save you money on currency conversions.

With Profee, you get a cost-effective solution for international transfers, especially when sending money for the first time, with no fees to worry about.

Transfer Limits with Profee

Profee imposes limits on transfer amounts and the number of transactions.

1. Standard Limits: Initially, there may be limits on your transfers, and users might need to complete identity verification to increase these limits. The verification process typically takes 5 to 10 minutes.

2. Increasing Limits: To raise your transfer limits, users can use a dedicated verification bot, simplifying the process.

Profee offers a flexible limit system that allows users to expand their transfer capabilities after completing the verification process.

Documents Required for Verification with Profee

To verify your account with Profee, you'll need to provide the following documents:

1. Identity Proof: A valid passport or another government-issued ID.
2. Proof of Address: Occasionally, Profee may request additional information to verify your residence address in Europe.

Verification is essential to increase transfer limits, ensure secure financial transactions, and comply with European regulations.