A complete SentBe review (2023): Fees, Features & More

Adam Rozsa

Want to send money internationally? You could use your bank, but it could be faster and cheaper with an online transfer service.

One option new to the US is SentBe. But what is it, how does it work and how much does it cost? Read on for our full SentBe review, covering everything you need to know.

We’ll also look at an alternative - Wise. You can send money worldwide with Wise, for low fees and great exchange rates.


What is SentBe and how does it work?

SentBe is a financial technology company specializing in international money transfers. It’s based in Korea and launched in 2015, but only recently launched in the US early in 2023. It also serves customers in Korea, Singapore and Indonesia.

SentBe works with over 40 partners to offer its money transfer services, including remittance companies such as Moneygram and Ripple.¹

You can send money with SentBe through its website or mobile app, available for compatible Android and Apple devices.

From the US, you can send money to 50 countries worldwide.¹

How much does SentBe charge for transfers?

As it’s newly launched in the US, SentBe’s website and customer information doesn’t yet have a lot of detail on fees and terms for US customers.

It does charge transfer fees, which are likely to vary based on how much you send, the destination and the currency.

To give you a rough idea of transfer fees with SentBe, it costs 5,000 South Korean won (approx. $3.74 USD) to send money from South Korea to the US.²

For exact costs, you’ll need to sign up with SentBe and start setting up your first transfer. You should be shown relevant fees and exchange rates in the app or online.

What exchange rates does SentBe use?

Although it’s tricky to find information on fees for sending money from the US, SentBe does provide details of the exchange rates it uses to convert currency.

These are available for all currencies here on the SentBe homepage.

A useful thing to note here is that looking at SentBe’s exchange rates, it’s likely to be adding a margin onto the mid-market rate. This is the rate that banks use to trade currency with each other, and is generally considered to be one of the fairest you can get.

Providers like SentBe make money from currency conversion in this way. But what it means for you is that the transfer is more expensive. Less of your money reaches your recipient.

Looking for an alternative to SentBe? Try Wise

If you want better exchange rates with no margin on top, use Wise to send money internationally. It’s a great alternative to SentBe, and could even work out cheaper.

Wise is a money service business, offering a multi-currency account, international money transfer services and a debit card.

Open a Wise Account online and you’ll get all these fantastic benefits:

  • Bank details in 10 currencies
  • The option to hold, send, spend and convert 40+ currencies at once
  • Send money overseas with low and transparent fees,
  • Order a Wise card for a one time fee of just $9 - for use in 150+ countries
  • Mid-market exchange rates on all transactions.

It’s quick, easy and free to open a Wise Account online. And there’s even a handy Wise app, so you can manage everything from your phone.

See how much you can save with Wise:

Get a Wise Account today

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

How to use SentBe to send money

To send money with SentBe, you’ll need to sign up for an account on its website. Alternatively, download the app from the App Store or Google Play Store, and create an account that way.

You’ll need to verify your phone number, identity and linked bank account.

Then, you should be able to send your first transfer in just a few steps. You’ll have a choice of payment and delivery methods, and should be able to see the fees and exchange rates that will apply for your transfer.

Is SentBe safe to use?

So, is SentBe legit and safe to use? It’s a pretty new service here in the US, so it doesn’t have much of a track record you can check out. There isn’t a lot of information available on its website, and it’s not very transparent when it comes to fees or what security measures it uses.

However, this isn’t to say SentBe isn’t safe to use. You may just need to be cautious, and take steps to protect yourself when using the service. A good start is to read the terms and conditions available on the SentBe website before signing up. If unsure, stick to an established provider instead.

Good to know - SentBe is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business.³

Also, if you use its Wallet service, your money will be federally insured by the National Credit Union Administration (NCUA) through SentBe’s partnership with Moov Financial and Veridian Credit Union.³

Bottom line

After reading this, you should have a better idea of what SentBe is and how it works. If you’re comfortable sending money with a relatively new company, it could work out to be a cheap and convenient way to make your transfer. Just be cautious - as you would with any kind of money app or service.

If unsure, go with a trusted name like Wise, where information on fees, exchange rates and security measures is available upfront - before you even sign up.

Learn more about Wise

Frequently asked questions

How to send money from the US to Korea?

You can send money to Korea using your bank (although watch out - it could be expensive) or a money transfer platform like Wise, Western Union, SentBe or Remitly.

Is there Remitly in Korea?

Remitly isn’t available in Korea, but you can use it in the US to send money to South Korea.

How to send money from Korea to the Philippines?

You can use a money transfer service like SentBe to send money from Korea to the Philippines. It supports transfers from South Korean won (KRW) to Philippines pesos (PHP).

What is the best way to send money internationally?

A trusted online money transfer service like Wise is usually the quickest, safest and cheapest way to send money internationally - especially compared to using your bank.

Is it safe to use Wise?

Yes, Wise takes security extremely seriously. As well as being strictly regulated, Wise has the following security features:

  • 2-factor authentication and HTTPS encryption for extra-secure transactions
  • Commitment to keeping your personal data safe.

Sources used for this article:

  1. SentBe - FAQ - What is SentBe?
  2. SentBe - FAQ - How much are the transfer fees for the USA?
  3. SentBe - Terms and Conditions

Sources checked on 15-Aug-2023.

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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