It is possible to send money to 15 countries in Asia and Latin America through Pangea, which is an international money transfer service.
Payments can be made in less than 30 seconds through the Pangea app, and your recipient can either collect their money in cash from an agent location or have it deposited into their local bank account.
Pangea is not available in every state in the United States, so be sure to check your local availability. The following section contains a comprehensive list of the states where Pangea is available.
When determining which international payment provider might be the best fit for your needs, it’s beneficial to compare the various options available.
With this helpful guide, you will learn about some benefits and drawbacks of using Pangea, as well as how it stacks up against an alternative payment service called Wise.
The following information will help you determine whether or not Pangea is the best international payment provider for you.
What is Pangea money transfer?
The company Pangea provides international payments to customers in Latin America and Asia. You can make your payment through their mobile app, and you can use your linked bank account or debit card to complete the transaction.
If you want to send money to someone else, you’ll have to pay a transfer fee, which will vary depending on where you’re sending the money and how you choose to fund the payment.
How it Works
- Create a new account: Visit the Pangea website and register for a free account.
- Fill in the blanks with the information about your recipient: Inform Pangea of the location and recipient of any funds you require.
- Pangea will assist you in arranging your transfer: Enter the amount of money you wish to transfer as well as the method by which you wish to pay for your transfer.
- Make a payment for your transfer: Make a local bank transfer to fund your transfer, or pay with a debit or credit card to complete the transaction.
- Allow Pangea to take care of the rest: Pangea will convert your money into the recipient’s currency and send it to him using the pay-out option that you have selected.
What are the Fees for transferring funds?
Fees are the same regardless of how much money you transfer, but they vary depending on the country to which you are sending the money and how you pay.
For example, if you send money to Colombia using your US debit card, the fee is $4.95; however, if you pay with cash, the fee is $5.99.
Below is a breakdown of transfer fees:
| Country | Pay with Debit/Credit Card | Pay with Cash |
| Mexico | $4.95 | $5.99 |
| China | $8.00 | $5.99 |
| India | $3.95 | $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 | $5.99 | $5.99 |
Inflation-adjusted exchange rate
As a result, you will know exactly how much money will arrive before you confirm your transfer because the daily exchange rate is locked and displayed in advance.
Overall, their exchange rates for cash payouts and bank account deposits in select markets are very competitive, especially when compared to their competitors.
Taking a margin on the exchange rate is standard practice at Pangea, and the company follows it.
Because of this, the exchange rate that Pangea offers to customers is not always the best available on the market, and any difference represents a portion of Pangea’s profit from the transaction.
Pangea, on the other hand, offers a better exchange rate than the mid-market rate in certain countries and at certain times, sometimes up to 9 percent better than the mid-market rate.
Although the exchange rate margin can sometimes exceed 13 percent of the amount being sent, it is usually less than 1 percent to a couple of percentage points of the amount being sent.
Pros and Cons Pangea Money Transfer
Consider the advantages and disadvantages of Pangea’s international transfer service before deciding whether or not the company is the best choice for your transfer.
Afterward, you can compare it to other international payment providers to determine which one is the best fit for you. Here are a couple of things to think about.
Pros
- Transfers are quick and simple. Pangea’s online transfer process is simple and straightforward, regardless of whether you are using a computer or an app.
- There are 12,000 pick-up locations. Your recipients can easily collect their funds from one of Pangea’s numerous agents located throughout the world.
- Promotion for referring others. By referring friends, you can receive a $15 discount on a future transfer.
Cons
- Services are limited. If you don’t live in one of the 14 states where Pangea provides service, you’ll have to look for another service provider.
- Individuals only are permitted to participate. For businesses looking to schedule payments, you’ll need to look into other options.
Where can you use Pangea?
Money transfers to Latin America and Asia are made possible through Pangea, which is currently present in the countries listed below:
Latin America:
- Mexico
- Guatemala
- El Salvador
- Honduras
- Dominican Republic
- Colombia
Asia:
- China
- India
- Philippines
- Bangladesh
- Indonesia
- Malaysia
- Singapore
- Thailand
- Vietnam
There are some restrictions on where you can send money from within the United States. Pangea is currently available in the following states, but residents of other states are encouraged to sign up for a mailing list to be notified when the service becomes available in their area:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Kansas
- Maine
- Michigan
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- Oregon
- RHODE ISLAND
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Washington
- Wisconsin
- Vermont
States Where you can’t use Pangea
- Colorado
- Connecticut
- Iowa
- Kentucky
- Maryland
- Massachusetts
- Minnesota
- Nevada
- New York
- North Dakota
- Ohio
- Oklahoma
- Pennsylvania
- Virginia
- West Virginia
- Wyoming
What is the Speed Like when sending money with Pangea?
Pangea’s money transfer speed is impressive. If you pay for the transaction with a credit or debit card, sending money for cash collection with Pangea can mean that your recipient receives their money in minutes rather than hours.
If you choose to pay by bank transfer, please be aware that it will take a little longer because the funds must first clear before any payments can be made.
However, when you choose to have your money deposited directly into your recipient’s bank account, the amount of time it takes will be determined by both your bank’s policies and the policies of your recipient’s bank account.
Normally, direct deposits of this nature typically take a few business days to process, and the estimated delivery time will be provided when you model your transaction.
What is the customer’s Experience Like?
Pangea has a customer service phone line that is open from 9 a.m. to 6 p.m. CST Monday through Friday. If you have a question outside of business hours, you can email the support team.
In addition, the Pangea website has an extensive FAQ section that may be able to provide you with the information you’re looking for – it’s very easy to navigate through.
What is the procedure for making a transfer with Pangea?
In the majority of cases, you’ll be transferring money online – although in Illinois, you may be able to complete your transaction at a 7-Eleven convenience store.
There will be no need for you to be concerned in this case because the store staff will guide you through the transfer process.
To make an online transfer request, you’ll need to complete the following steps:
- Online registration for a Pangea account is required.
- By entering the amount you wish to send as a model, you can create a payment. At this point, you can review the rates and fees that are applicable.
- Confirm the recipient’s information – either their bank account information for a direct deposit, their credit card information for a money transfer on it, or their personal information if they will be collecting the money in local currency in the recipient’s country of residence.
- Make the payment – it may go through very quickly if it is a cash collection, but if it is a direct deposit, you should expect to have to wait several days.
What is the transfer speed of Pangea Money Transfer? How long does it take to send money through this service?
Pangea transfers are usually completed the same day if the transfer is completed using a debit or credit card, or if the transfer is completed through cash pickup.
If you choose to send money via bank account transfer, the recipient will receive the money within 1-2 business days, depending on the country and the working hours of the recipient’s bank.
Consequently, if there is an emergency, you should transfer funds using a debit or credit card rather than transferring funds from your bank account.
Although the company’s transfer speed is fast, many of its competitors also provide instant transfers. As a result, we give it an 8 out of 10 under this category.
FAQs
For every new user, you refer to Pangea who has never used the service before, your account is credited with a $15 credit that can be applied toward your next transfer.
Pangea is upfront about the current exchange rate that it is offering, and it will frequently be lower than other options when compared to them.
You can send an amount between $20 to $2,999 from a bank account or debit card. If you pay through 7-Eleven, you can send between $20 and $300.
The company has set a monthly limit of $6,000 if you pay with a debit card and $2,000 if you transfer using the services of 7-Eleven.
Conclusion
That’s all there is to it. Everything you need to know about Pangea, including how it works, how much it costs, and how to determine whether or not it is right for you.
To find the best service for you, don’t forget to compare upfront costs as well as fees that are incorporated into the exchange rates offered by international payment providers.
And if Pangea doesn’t meet your requirements, Wise is a low-cost international transfer service that uses the mid-market exchange rate to save you money.
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