In-Depth Review of Remitano: The Alternative to Western Union

Sending money overseas has never been easier with the launch of apps for mobile devices. From Apple Pay to Samsung Pay, paying someone via mobile has become easier than ever. Thanks to the proliferation of mobile money transfer apps, sending money has become easier as well.

Especially now that there are numerous alternatives to the traditional money transfer service. In this Remitano review, we’ll be taking a look at the company and its services to help you decide if this is an acceptable method of sending money overseas. Keep reading to find out more about this money transfer service and its pros and cons.

What is Remitano?

Launched in 2014, Remitano is a New York-based company that touts itself as an “Asia’s first blockchain money transfer company.” The company allows users to send money to more than 120 countries with a wide range of payment options, including bank transfers, credit card transfers, and PayPal transfers.

Using the company’s app, users can also receive money in their local currency and have the option to immediately cash out the currency into their bank account. The app is available for both iOS and Android devices.

How Does Remitano Work?

When sending money through the Remitano app, users must choose the currency they want to send. They can then choose an amount and enter the recipient’s details. The app will then let the sender know the amount is going through. After the sender confirms the transfer, the money is immediately sent out through a network of agents.

When receiving money, the app will let the sender know the amount that has been sent and the recipient. The sender can then release the money to the recipient by entering their phone number.

Should you use Remitano?

The short answer to this question is yes. Although there are some risks involved with using any mobile money transfer app, especially when sending money overseas, using Remitano is generally safe and secure.

The main security concern with using mobile money transfer apps is identity theft. With Remitano, identity theft isn’t likely to happen since the company takes extra precautions.

To protect user identities and prevent identity theft, the company keeps user data (including account information) on a separate server. It also uses two-factor authentication and supports a “kill switch” that renders stolen phones inoperable.

The only risk with Remitano is that it could become too popular and the company might not be able to keep up with demand. As this is a relatively new service, it’s unlikely that this will happen anytime soon.

Fee Comparison: Sending using Remitano

As of April, 2019

Sending $500 – $1000 from the United States to a foreign country: 0%

Sending $1000 – $5000 from the United States to a foreign country: 2%

Sending $5000 – $10,000 from the United States to a foreign country: 4%

Sending $10,000 – $50,000 from the United States to a foreign country: 6%

Sending $50,000 – $100,000 from the United States to a foreign country: 8%

Final Words: Should you use Remitano?

The short answer to this question is yes. Although there are some risks involved with using any mobile money transfer app, especially when sending money overseas, using Remitano is generally safe and secure.

The main security concern with using mobile money transfer apps is identity theft. With Remitano, identity theft isn’t likely to happen since the company takes extra precautions.

To protect user identities and prevent identity theft, the company keeps user data (including account information) on a separate server. It also uses two-factor authentication and supports a “kill switch” that renders stolen phones inoperable.

The only risk with Remitano is that it could become too popular and the company might not be able to keep up with demand. As this is a relatively new service, it’s unlikely that this will happen anytime soon.

If you’re interested in sending or receiving money overseas, then Remitano is a good choice. We recommend reading this in-depth review to find out if it’s the right service for you.

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