Is Paysend safe? 2025 full guide

Transferring money internationally has become far more common in recent years. Whether you need to send money to a loved one who lives abroad or want to transfer cash to a friend who’s vacationing overseas, you need a fast, reliable way to do it.

Wire transfers are among the most common options, but an array of specialized apps have emerged that are designed to expedite the international transfer process for users. One such platform is Paysend. The question is, is Paysend safe?

This helpful guide will go over everything you need to know about Paysend, answering basics like, “Is Paysend legit?” and showing how it stacks up to alternatives like Wise.

What is Paysend?

Paysend is a UK-based financial technology (Fintech) company founded in 2017. The company has over 5 million customers and allows businesses and consumer users to send and receive money online.¹ You can send money to more than 150 countries using Paysend.¹

The platform also supports a variety of payment methods — you can transfer funds via ACH, mobile wallet credits, and card-to-card transfers, to name a few.

Paysend and other peer-to-peer payment apps aim to simplify the process of remitting money between countries while offering competitive rates.

Is Paysend safe to use?

If you’re considering taking advantage of this app, your first question might logically be, “Is Paysend safe to use?” Generally speaking, it is.

The company behind Paysend is authorized and regulated by the Financial Conduct Authority (FCA), and the app employs advanced encryption technologies to safeguard user data and protect against fraud.

Overall, Paysend can be very safe to use. However, it can be susceptible to fraud, especially if you use weak passwords, share your login information, or connect to unknown networks.

That being said, as long as you’re proactive about using Paysend safely, you can securely send money internationally.

What are Paysend’s safety features?

Paysend incorporates several safety features intended to protect user data, including the following²:

Encryption

Paysend uses advanced encryption technology to keep user data out of the wrong hands. This ensures that all information transmitted via the platform is secure and inaccessible to unauthorized parties.

PCI DSS compliance

The platform also complies with the Payment Card Industry Data Security Standard (PCI DSS). This set of standards requires any business that processes, stores, or transmits credit card data to maintain a secure environment.

Two-factor authentication (2FA)

Paysend allows users to set up two-factor authentication. This means that even if someone were to steal your password, they wouldn’t be able to access your account without the second form of verification.

For example, you might be required to put in a unique, time-sensitive passcode every time you log in. The passcode can be sent to your phone via text or to a verified email address.

Fraud-prevention measures

Paysend employs stringent identity-verification processes to ensure that users are who they claim to be. These measures help protect you from fraudulent activities.

Pros and cons of Paysend

Paysend has some major benefits, but also some potential drawbacks. Here’s a look:

In our detailed review of Paysend, we broke down the app’s fees and exchange rates.

Paysend’s upfront fee is just 2 USD per transfer.³ While that’s pretty solid, the app likely tacks on a small margin to the mid-market exchange rate.

This practice lets the company generate profits from the transaction while making it more expensive for you to send money where you need it to go.

What’s the best way to send money internationally?

Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.

You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.

Wise is a money service business (MSB) regulated by 12 international financial authorities, and uses sophisticated security features to keep you and your money safe.

Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.

As if all that wasn’t enough, there’s a Wise Multi-Currency Card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate, for just a small conversion fee.

Open a Wise account today

💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.

Some key features of Wise Business include:

• Better visibility and organization of business finances. This is helpful for account reconciliations and audits
• Major local account details for a simple one-off fee to receive international payments with ease
• No monthly account fees or minimum balance requirements
• Receive payments from e-commerce platforms such as Amazon or via Stripe
• Create invoices using the free Wise invoice generator or invoice templates
• Accounting integrations, including a QuickBooks Bill Pay connection
• Access to BatchTransfer: Signing up to Wise Business allows access to BatchTransfer which you can use to pay multiple invoices in one go.

Discover the difference between
Wise Business vs Personal

Tips and tricks for avoiding scams

To shield yourself from potential online scams when using money transfer services like Paysend, it’s important to:

• only use reputable platforms
• verify the legitimacy of money requests, even if they appear to come from someone you know
• never share sensitive information with anyone
• regularly review your account statements and transaction history
• avoid engaging with unusual emails, calls, or texts
• use 2FA and other security features

Paysend has been around for several years and has developed a reputation for being safe. However, it’s also important to research other apps like Paysend so you can identify the best platform for your transactions.

Many users focus on convenience, speed, and cost. If those are also priorities for you, Wise is an excellent option to consider.

Want to learn more about how Paysend stacks up against Wise? Check out our head-to-head comparison and discover the smart way to move money overseas.

Sources:

1. Paysend
2. Paysend - Ensuring your peace of mind: is Paysend secure?
3. Paysend - Your essential guide to Paysend