This review aims to describe the quality o service that the company provides along with its pros and cos. We focus on getting the facts regarding their exchange rates and fees and other significant information that is associated with money transfer service.
We also designed an extensive providers review that you can use to compare companies that offer money transfer services, remittances or international payments.
About b-sharpe Money Transfer
b-sharpe is a company established in 2006 and is based in Geneva, Switzerland. They are a specialist currency broker that supports both individuals and businesses in terms of currency exchanges and global money transfers. The company has over 16, 000 customers and they claim to help their users saved millions of Swiss francs in terms of transfers. In total, b-Sharpe has traded over 1.3 billion francs in over 20 currencies since its operation. In November 2019, Migros Genève, the largest retail player in Switzerland acquired a significant stake in b-sharpe, forming a solid synergistic collaboration.
b-sharpe has a substantial background traversing across the decade. The provider is regulated by the Swiss Financial Market Supervisory Authority (FINMA). The funds are secured and insured for 3 million Swiss francs. Their platform also utilises double authentication layers to secure your personal and financial information.
b-sharpe Exchange Rates and Fees
With b-sharpe, customers profit from flat fees and transparent exchange rates. You will not incur any fees for transactions above 5,000 CHF. Here is a fast run-through of the exchange rates and fees imposed by b-sharpe.
The margins of the exchange rate with b-sharpe range from 0.12% to 0.9% based on the currency pair and the number of transfers. For example, when transferring between 500,000 and 1 million Swiss francs to the US will incur a 0.12% margin. The company also allows you to lock in an exchange rate which you can transfer in the future.
b-sharpe Transfer Fees
If you transfer over 5,000 Swiss francs, you will incur no transfer fees. However, transferring below this amount will incur a fee amounting to 5 CHf per transaction.
Some banks may require landing fees when sending or transferring money to your b-sharpe client account. Hence, you have to check your bank for possible additional fees before initiating the transfer.
b- sharpe Pros and Cons
Below are the different pros and cons with b-sharpe money transfer service that we have consolidated:
- Zero to low fees: The transactions that are over 5,000 swiss francs are free while transferring under this amount is incurs a flat fee amounting to 5 CHf.
- A low exchange rate margins: b-sharpe margins are ranging from 0.12% to 0.9%, which is a competitive rate in the money transfer industry.
- Allows you to lock in a rate: You can lock in an exchange rate to bypass the constant market fluctuations.
- Insurance against fraud: Transfers are insured up to an amount of 3 million Swiss francs.
- Available live chat support
- Supports few currencies
- They don’t have an available mobile app
- Customer support is limited
How Does b-sharpe Work
- Sign up for an account
- Verify details
- Fund your transfer
- b-sharpe will convert your funds as soon as they get it through online banking. The funds are sent using the b-sharpe IBAN, given to you upon registration.
- Funds will be converted to the recipient’s currency
- b-sharpe will transfer the funds and your recipient can collect it on the same day or the next working days.
Available Payment Methods
Customers are obliged to transfer money from their bank accounts to the selected b-sharpe account. There are no other payment ways suggested for funding transfers aside from this.
Withdrawal Options available
Recipients can collect money through their individual bank accounts. This is because there are no other payout options aside from this.
On Trustpilot, b-sharpe holds 1,345 reviews, 98% of which are rated 4 and 5 stars. This is what we’ve consolidated from the customer’s feedback
- b-sharpe has competitive exchange rates
- When sending across Europe most transfers take just 24 hours
- Zero transfer fees on transfers above 5,000 swiss francs
- Few clients mentioned that customer support takes time to respond to queries
Frequently Asked Questions
Is b-sharpe the cheapest way to send money?
For you to find out which is the cheapest way to send funds overseas, you can check our complete list of providers Here.
How can finance.co.uk help?
Finance.co.uk has a complete list of all money transfer service providers. We can also help you determine the best products and services for your need. To find more about us, you can check the Finance.co.uk website.
Can I cancel my b-sharpe transfer?
If the foreign exchange process has not been carried out, you can ask for cancellation through [email protected] If you have locked-in the rates with b-sharpe, you cannot cancel the transaction.
Does b-sharpe have a mobile app?
b-sharpe does not have a mobile app available. But, you can still access the platform using the browser from your mobile phone.
How fast are b-sharpe’s transfer speeds?
Most transfers are completed within 2 days, but the provider also allows an express transfer that allows deliveries within 24 hours.
Alternatives To b-sharpe Money Transfer
Fees: 0.01 USD to 135.00 USD (Supports transfers from the USA unlike YES Remit)
Transfer Speed: Same Day to 3-5 Days
Minimum Transfer: USD 1
Maximum Transfer: USD 9,000
Exchange Rates: less than 1% margin on exchange rates
- Offers local phone support in some countries they cater to
- Transfer as little as £1
- Allows you to pa through your credit card
- You can access websites in different languages
- Transfer funds to bank accounts or cash pickup centres
- Top off mobile wallets and airtime
- Company headquarters is in the UK
- Available offices in the U.S., Canada, Japan, Australia, and New Zealand
- Accepts only individuals and not businesses
- Desired transfer method may affect sending limits
- Your country of residence might affect the amount that you can send
- The currencies concerned affect the costs
- Mode of payment and the transfer method affect your transfer costs
Fees: 1.08 USD to 487.80 USD
Transfer Speed: 2-3 Days to 3-5 Days
Minimum Transfer: USD 1
Maximum Transfer: USD 1,99,999
Exchange Rates: Real mid-market rates
- Open to serve individuas, businesses, and online sellers
- Simple and easy sign up through your Facebook or Google account
- Based in the UK
- Offices available in the U.S., Estonia, Ukraine, Hungary, Australia, Hong Kong, and Singapore
- Contains dedicated multilingual websites
- Allows local phone support in some locations
- Takes credit card payments from citizens of some countries
- Hold funds in up to 27 currencies utilising the Borderless Account
- Does not offer forward contracts, market orders, or scheduled transfers
- Its a peer to peer networks it does not support other countries
- Transfer fee depends on the currencies concerned
- Transfer fee depends on the amount and destination
- No cash pickup centres
Fees: CurrencyFair does not support transfers from the USA the same as YES Remit
Transfer Speed: Same Day to 3-5 Days
Minimum Transfer: USD 8
Maximum Transfer: No limit
Exchange Rates: Rates differ based on factors
- Allows you to register as an individual or a business
- Main office is in Ireland
- Offices in the UK and Australia
- You can access the website in several languages
- Allows you to transfer as little as €8
- Allows you to set a date for your transfers
- No service available in all American states
- Do not offer forward contracts or market orders
- 0.35% of the transferred amount has to be paid plus €3 as fees
- No cash pickup centre