Sigue Money Transfer Review: Is it safe? Should you use it? What are the fees?

This Sigue Pay review covers all you need to know about the Sigue transfer options, features, fees and exchange rate, so you can decide if it’s right for you.

We’ll also introduce Wise as a great alternative that’s safe and fast, and which lets you send money all over the world with the mid-market exchange rate and low, transparent fees³.

Learn more about Wise

Sigue Money Transfer Overview

Before we get into the details of how to send money with the Sigue¹ corporation in person and online, let’s look at an overview of a few pros and cons.

How does Sigue Money Transfer work?

Sigue Money Transfers can be made in person at a Sigue agent location from the US to over 60 different countries, via the Sigue mobile app, or online. You can send money in person and pay by cash - or if you’re sending money online or in-app you’ll pay with a debit or credit card.

Payments can be sent to recipient’s bank accounts directly, or for cash collection at another Sigue agent location near to the recipient. In some destinations, you can also have cash home delivered to your recipient.

Fees & exchange rates with Sigue Money Transfer

When you send a payment overseas with Sigue you’ll be shown a quote for both the fees and exchange rate available for your specific transfer.

The price you pay will vary based on the payment value, destination, and the time and date you arrange your transfer. You’ll be able to generate a quote online or in the Sigue app, or call Sigue Pay customer service on their toll-free telephone number - 800 385-3316 - to get more information.

It’s important to note that Sigue Payments can come with a few different fees², some of which are harder to predict and spot than others. Here’s what to look out for:

• Sigue transfer fee - this should be clearly disclosed
• Sigue exchange rate markup - compare the Sigue rate to the rate you find on Google to see this charge
• State taxes - if these apply, you may also have to pay taxes as the sender
• Recipient fees - in some countries there may be further recipient fees and taxes to consider

The exchange rate used by Sigue could make a big difference to your overall costs. That’s because it’ll include a markup - an extra cost which is the difference between the Google rate and the rate they pass on to their customers.

Exchange rate markups are very common, and tend to vary based on the currency you’re sending. But because they’re rolled into the rate that you’re shown they can also be pretty hard to spot and calculate - making the entire process less transparent, and pushing up overall costs more than you might expect.

Get a Wise Account and save on international money transfers

Compare the costs of sending money with Sigue, against the safe, low cost international transfers³ available from Wise.

Wise payments can be made online and in-app, and you'll always see all the costs involved with sending money overseas, so you’ll be able to easily see and compare your options against other providers.

Reigster a Wise Account today

See how much you can save with Wise:

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

How much money can you send with Sigue?

There’s no limit to the amount you can send with Sigue if you visit an agent location. However, for higher value transfers you may be required to present additional documents for verification, or give the Sigue agent more information about your transfer.

If you’re sending money with Sigue via the Sigue app or desktop site, various limits may apply based on your account history and the country you’re sending to. In general, the limits are as follows:

• 2,999 USD in a single transaction, or in a single day
• 6,000 USD in 30 days
• 25,000 USD in 90 days
• 50,000 USD in 180 days
• 75,000 USD in 365 days

Is it safe to use Sigue Money Transfer?

Sigue is safe to use as long as you take normal common sense precautions, and use the services according to Sigue’s own guidelines. Sigue is licensed or authorized to operate throughout the US, and is also registered with FinCEN⁴.

It is worth remembering that Sigue money transfers can’t necessarily be canceled once arranged, so you should only send money to people you know and trust - and you’ll need to double-check you have all the right recipient information before you get started.

How to send money with Sigue Money Transfer?

You can send a payment with Sigue Money Transfer in the following ways:

• Visit your local Sigue agent and make your payment in person, paying by cash
• Arrange your payment online on the Sigue desktop site, or via the Sigue app

If you’re sending your payment in person, the Sigue agent can help you arrange your transaction, and will confirm what information is needed for your payment to be processed. If you’re arranging your transfer online or in-app you’ll need to:

1. Create an account by entering your email address and a password
2. You may need to complete a verification step for security
3. Enter the details of your payment - including the currency, and the payout method
4. Check over the fees and exchange rate you’re offered
5. Add your recipient’s personal or banking information
6. Review everything, pay and you’re done

Sigue mobile app

The Sigue mobile app is available for both Apple and Android phones, and lets you conveniently send payments on the move.

Sigue Money Transfer alternatives

If you’re looking for a fast, safe and transparent way to get money to someone’s bank account overseas, you could save with Wise. Because Wise uses the Google exchange rate, and clearly splits out the fees you pay, it’s easy to see the costs - and Wise payments are fast too. 50% of Wise transfers arrive instantly, and 90% are there in 24 hours⁵.

Here are a few other Sigue Money Transfer alternatives to consider:

• Revolut - could be a good option if you want an account to hold and exchange 25+ currencies
• OFX - offers individual and business transfers, and generally has low overall costs for higher value transfers
• Remitly - handy for payments on popular remittance routes, with a good selection of pay out options
• WorldRemit - useful for broad coverage and easy ways to pay and receive transfers

The speed of transaction claim depends on funds availability, approval by Wise's proprietary verification system and systems availability of our partners' banking system, and may not be available for all transactions.

Customer reviews

The Sigue Money Transfer app is available on both Apple and Android devices, with relatively positive customer reviews on both platforms:

• Google Play - Sigue Money Transfer App is rated at 4.5/5⁶
• Apple App Store - Sigue Money Transfer App is rated at 4/5⁷

Reviews are dynamic and will change over time and as the app is developed - check out the latest reviews online before you get the Sigue app.

Customer support

Sigue Money Transfer offers support in person via their agent network - or you can call to get support in a range of languages, including:

• English
• Spanish
• Portuguese
• Tagalog
• Vietnamese
• Chinese

You’ll be able to find the right number for your language, alongside the operating hours on the Sigue desktop site. There’s also an email form if you’d rather drop the Sigue customer service team a note.

Bottom line

Sigue Payments can be sent to 60+ countries, with variable transfer fees and exchange rates. Payout options are good - including cash collection and home delivery. However, the exchange rate you get with Sigue will include a markup - an extra charge - which has been added onto the Google rate. This can make it pretty tricky to work out the full cost of your international transfer.

Before you get started with Sigue, it’s worth comparing a few alternative options. Wise could be helpful if you’re sending money overseas to a recipient’s bank account, for example, or an alternative like Remitly may also be a good option if you need to get money to someone for cash collection. Providers like these let you model your payment online to generate an instant quote - so comparing your options is easy.

Learn more about Wise

All sources checked on 30 January 2023