Strongly not recommended
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Sharemoney is a financial services company owned by Omnex Group, which serves 48 countries worldwide. Customers can send money online while choosing a delivery method that meets their recipients' needs: cash pickup, bank deposit or home delivery.
What Are Sharemoney’s Transfer Fees?
Transfer fees start at $2.99 but can vary based on the destination country, the payment method and the transfer amount.
- You’ll see a flat-rate fee quoted when entering the specifics of your transfer. For example, to transfer $100 to Argentina, there's a $7.99 fee if funding the transfer with a bank account or debit card or an $11.99 fee if funding the transfer with a credit card.
- The stated transfer fee applies whether you select a delivery method of home delivery, cash pickup or bank deposit.
How Fast Are Sharemoney's Transfers?
Most Sharemoney transfers are completed on the same day, but the speed can vary based on the delivery method.
- Bank deposits are often completed within 15 minutes but may take up to 24 hours.
- Cash pickups are often available within 15 minutes but may take up to 24 hours.
- Home deliveries are often completed within 24 to 48 hours.
Sharemoney was launched in 2014 by Omnex Group, Inc., which has been in the financial services business for over 25 years. Omnex Group, Inc. transfers over $1 billion in transactions annually and has an A+ rating from the BBB. In addition to Sharemoney, Omnex owns multiple money transfer brands including Le Goi Tien Le, Giromex and UNO.
Who Can Benefit From Sharemoney?
Sharemoney is for consumers who don’t want to mess with traditional banks when sending money abroad. With the company’s services, you can send funds to over 20 countries including Argentina, Bolivia, Mexico, India, and Vietnam. Of course, one reason why Sharemoney stands out is for its delivery method options, which include home delivery. If you’re sending money to someone who can’t it make it to a bank or agent location, paying a Sharemoney commission fee is not a bad way to put money in your family’s pockets.
What Are The Advantages and Disadvantages Of Sharemoney?
This is what we love about Sharemoney:
- You can choose from three delivery methods: home delivery, cash pickup and bank deposit.
- There are over 41,000 payout locations around the world.
- You can complete the money transfer online.
- With Quick Send, you can easily retrieve recipient and payment information from a previous transfer so making a repeat transfer is hassle-free.
- You can fund a transfer using a credit card, debit card or bank account.
What We do not Like About Sharemoney:
- Some competitors offer lower rates.
- Sharemoney doesn’t offer domestic transfers.
- There aren’t physical locations where you can initiate a money transfer funded by cash.