Ria Money Transfer Review

In today's world, staying connected with loved ones near and far is easier than ever before. Whether it's helping out family overseas or supporting a friend studying abroad, sending money across borders has become a common part of our lives.

Picture this: You're sipping your favourite drink in a quaint London Cafe, and your cousin in New York gives you a call. They're in a pickle and need a few quid urgently. No worries! With Ria Money Transfer, one of the largest international money transfer service providers in the world, you can send those pounds across the Atlantic faster than you can say "double-decker bus." And that's not all – Ria's reach extends basically all across the globe. But there's another player in the game you'll also want to know about – Wise, a multi currency account that’ll make your life easier.

In this review, we are going to understand everything about Ria Money Transfer, from how it works, which services they provide, their rates and fees, some frequently asked questions, and a comparison with Wise. So let’s start it!

What is Ria Money Transfer - An Overview

Ria Money Transfer¹ is one of the most known international money transfers providers. With a legacy spanning more than 35 years, Ria has perfected the art of moving money across borders, making the process very simple and efficient. Offering a vast network of 507,000 locations in 160 countries, Ria's user-friendly platform, competitive exchange rates, and swift delivery options make it the go-to choice for those seeking to send money abroad.

How does Ria Money Transfer Work?

Ria Money Transfer simplifies international money transfers, making it fast, safe, and easy.² To send money, customers create an account online or via the mobile app, provide recipient details, select a funding method (bank transfer, card payment, or cash at an agent location), specify the amount and currency, review the transaction details, and confirm the transfer. Ria provides a tracking number for monitoring the transfer's progress and sends email notifications at key stages.

On the recipient's end, they can collect the funds at a nearby Ria agent location, usually within minutes, or have the money deposited into their bank account. With a vast global network and competitive rates, Ria Money Transfer makes it easy for individuals and businesses to securely send and receive funds across borders.

What Money Transfer Services do they provide?

Making sure your cash ends up where it really counts is a big deal. That’s why, at Ria, they make sure that you have as many options available as possible. Their products and services includes mobiles top-ups; currency exchange; check cashing and bill payments (US only); and, obviously, money transfer, which is their core business.³ Below we’ll detail you how to send money globally using cash, a bank account or debit/credit card.

Bank Transfer

You just need to create or log in to your account, choose the recipient country, pick the transfer amount, then when selecting payment method, choose bank transfer. Then you can deposit money straight into your recipient’s bank account by providing Ria with their bank and account number. After that, you can review and confirm, and finally complete the transfer.

Cash Pickup

Their cash collection service lets you send and get money in cash via their network of shops. Just locate a nearby Ria spot. When the transfer is being made, make sure to put it cash pickup as the payout method.

Mobile Wallets

You can send money directly to your mate’s mobile wallet account by simply selecting the wallet provider from their list of partners.

Home Delivery

In places like Armenia, the Dominican Republic, Hungary, Morocco, the Philippines, and Vietnam, your recipient can kick back and get their cash delivered right to their doorstep or office within 48 hours. Easy-peasy!

Ria Money Transfer International Transfer Rates

Ria emphasises its commitment to offering competitive rates, low fees, and an easy user experience.⁴ Users are encouraged to always use the "Check Prices" feature to determine the rates for their next transfer. These fees are determined based on factors like payment method, payout method, send country, transfer destination, and transfer amount.

It’s important to note that Ria’s rates may not match those found on Google, as theirs are influenced by the cost of buying currency. Additionally, pricing can vary between in-store and online transactions. However, with Wise, another big player in the realm of international transfer, your transfers are made based on the real mid-market exchange rate, which is the rate found on Google.

Ria Money Transfer App Features & Ease of Use

The Ria Money Transfer app is available for Android and iOS, and offers a range of user-friendly features that make sending and receiving money across borders a breeze. With an intuitive interface, the app allows you to easily create an account, provide recipient details, and initiate transfers with just a few taps. You can even use the Send Again feature, which makes it easy to repeat transfers. They can also provide real-time tracking of your transactions, keeping you informed about the progress of your money transfer at all times.

One standout feature is the "Check Prices" tool, which enables users to stay up-to-date with the latest exchange rates and fees before initiating a transfer. This transparency empowers users to make informed decisions and ensures that they get the best value for their money. Additionally, the app supports various funding methods, including bank transfers, card payments, and even cash payments at physical agent locations, offering flexibility and convenience.

Is Ria Money Transfer Safe in the UK?

Yes, Ria operates in the UK under the official name Euronet Payment Services Limited and holds authorization from the Financial Conduct Authority (FCA) as a recognized payment services provider. Additionally, they have a few security measures such as Extended Validation SSL, account identity verification, world-class security experts available 24/7, and protected payment info.⁷ We have a full article about it (which is only 2 min read!) if you are more curious about it.

Ria Money Transfer App Features & Ease of Use

The Ria Money Transfer app is available for Android and iOS, and offers a range of user-friendly features that make sending and receiving money across borders a breeze. With an intuitive interface, the app allows you to easily create an account, provide recipient details, and initiate transfers with just a few taps. You can even use the Send Again feature, which makes it easy to repeat transfers. They can also provide real-time tracking of your transactions, keeping you informed about the progress of your money transfer at all times.

One standout fe ature is the "Check Prices" tool, which enables users to stay up-to-date with the latest exchange rates and fees before initiating a transfer. This transparency empowers users to make informed decisions and ensures that they get the best value for their money. Additionally, the app supports various funding methods, including bank transfers, card payments, and even cash payments at physical agent locations, offering flexibility and convenience.

Is Ria Money Transfer Safe in the UK?

Yes, Ria operates in the UK under the official name Euronet Payment Services Limited and holds authorization from the Financial Conduct Authority (FCA) as a recognized payment services provider. Additionally, they have a few security measures such as Extended Validation SSL, account identity verification, world-class security experts available 24/7, and protected payment info.⁷ We have a full article about it (which is only 2 min read!) if you are more curious about it.

Ria Money Transfer Reviews

Ria Money Transfer is a safe and solid business and its reviews through several channels such as Trustpilot, BBB, and app stores can prove it. No need to worry! Customers often commend the service's reliability, ease of use, and competitive exchange rates. Here’s the summary of the channels, its ratings, and reviews quantity.

• Trustpilot⁹: 4.3/5, 8K reviews
• Google Play¹⁰: 4,7/5, 71,7 K reviews
• Apple Store¹¹: 4,9/5, 81,3 K reviews
• BBB¹²: A+, 1,3/5, 23 reviews

Ria Money Transfer Pros and Cons

Ultimately, the choice between Ria Money Transfer, Wise or any other provider depends on your specific needs, including transfer speed, currency options, and preferred transfer methods. Both services have their advantages, so it's essential to consider your priorities when selecting the right option for your international money transfers. Let’s see a list of pros

Ria Money Transfer Pros:

Extensive Network

Ria has a vast global network with over 507,000 agent locations in +160 countries, making it accessible to a wide range of customers.

Competitive Exchange Rates

Ria offers competitive exchange rates, often more favourable than traditional banks, ensuring your money goes further.

Various Transfer Methods

It provides flexibility with multiple transfer options, including bank deposits, cash pickups, and mobile wallet transfers.

Speedy Cash Pickup

With many cash pickup locations, recipients can collect funds within minutes in various countries.

Transparent Fees

Ria is known for transparent fee structures, allowing customers to see the costs upfront.

Ria Money Transfer Cons

Transfer Speed

While cash pickups are fast, bank transfers may take longer compared to some other services, especially for international transfers.

Limited Currency Options

Ria may not support all currencies, limiting options for certain regions or currencies.

Mid-market exchange rate

Although Ria offers competitive exchange rates, there’s nothing better when it comes to international transfer than the mid-market exchange rate, which is the rate you can see on Google.

Please see the Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Sources used:

Sources last checked on date: 04-September-2023