In a Nutshell
- Easy online money transfer, within 15 minutes
- Home delivery available
- Rewards for referring customers
- Maximum transfer is lower than competitors
- Pricing for transactions isn’t universal across the board
What You Need to Know
Transfer fee: N/A (depends on where and which payment and payout method)
Transfer time: Almost instant if online, up to 4 days if by bank
Transfer types: Bank transfer, cash pickup at location, or by home delivery
Daily transfer limit: $3,000 online, 30-day limit of $7,999.99
24/7 support: No
Ria Financial Fees and Rates
There isn’t a one-size-fits-all fee schedule for using Ria, and what you’re charged depends on how much money you send, and the methods you choose for payment and payout.
Many of the transactions will not have a fee, with Ria making money solely off the exchange rate they give you and the spread between that and the day’s official exchange rate. For instance, if you send $1,000 USD to Thailand, you will receive a quote of 30,858 Thai Baht, even though the official exchange rate is 31,617 Baht, a difference of $24.
The differences come into play when it comes to the methods you use for payment and payout. Bank-to-bank payouts often don’t include an extra fee from Ria, but if you’d like to make your payment in cash and have the money available in the other country in cash, you can expect to pay a fee of at least $5, and sometimes as much as $25 or more. This can also be the case depending on if you’d like to pay in debit or credit, or if you’d like to do a home delivery.
Depending on where you’re sending the money, you may also be able to have the recipient pick up the money at a Ria storefront, which can be cheaper.
Luckily, Ria operates an online calculator where you can check any costs before processing your order.
How Does It Work?
Ria makes it easy to send money with a straightforward website that will walk you through the whole process. First things first, you go online and sign up for an account with Ria. If you already have an account and are sending money to a repeat recipient, you can just hit “quick send” after selecting the recipient.
If not, as a new user you’ll first determine how much money you want to send, to which country and whether you'd like to pay by debit, credit, bank account, or cash. You’ll then be able to use the company's price calculator to see what it’ll all cost you.
You’ll then be asked to fill out your payment information and how you would like the recipient to receive the money. Once you’ve done all that, you just hit send and the transfer is on its way.
- Sign up for a free account
- Click “send money”
- Select country to send money to and the amount you’re sending
- You will then see the exchange rate and fees
- Choose method—send money directly to recipient’s bank account or make it available for pick up at a Ria location. You can also opt for the home delivery service
- Enter recipient details
- Hit send, then use the tracking tool to follow the transfer
How Long Does It Take?
The amount of time the transfer takes to reach its destination depends largely on the specifics of your order.
The quickest method is to send the money by debit or credit, which takes, on average, about 15 minutes to process. Sending from your bank account is a much longer process that requires verifying with your bank that the funds are available, so you should expect the transfer to take approximately 4 banking days.
If you are receiving the transfer in cash, then cash pickup or home delivery tend to the be the fastest methods. These options are not available everywhere though, and there are currently only a handful of countries where home delivery is available.
Ria notes that transfers can be delayed in the event that they are is flagged for a security review.
Ria Financial Top Highlights
Ria is able to provide instant—and near instant—money transfers to almost every corner of the world, at a price that is affordable.
The signup process is easy and seamless, and answers for any questions you may have can be easily found on the company website. In several countries, the company also allows your recipient to receive the transfer by way of home delivery, or they can pick it up at a Ria location if there is one in their locale.
The company also gives you the option of helping a recipient out with a “mobile top up” or bill payments, so if you have a friend or loved one somewhere in the 4 corners of the Earth who needs a little help with their bills, Ria can make it happen.
- Virtually instant online transfers
- Easy setup and online interface for transfers
- Hundreds of thousands of locations for pick up
- Home delivery available
- Mobile top ups and bill payment available
- Reward program gives you cash for referring a friend
Ria has a very easy to follow and informative FAQ section where you can find answers to most of your questions, as well as an extensive blog with tons of posts about financial issues. There is also an online form where you can mail a help request, as well as a toll-free number where you can reach a customer service representative.
There isn’t currently any live chat with a representative however.
Privacy and Security
Not everybody trusts using the internet to handle financial transactions, and Ria gets it. The company uses a number of security measures, which starts with extended validation SSL certification.
In addition, for identity verification Ria uses sophisticated modeling to spot suspicious transactions as well as what it describes as “a world class team of security experts” to keep an eye out for anything suspicious.
Finally, the company states that it never stores any credit or debit card information on its servers.
Ria provides a quick, easy-to-use money transfer service that can get funds to nearly 150 countries across the world within moments. The company has an online interface for transferring funds that is built to be more convenient than typical transfer methods and can also be used to top off mobile phones and pay off bills overseas.
In addition, the company offers a variety of options that you might not find in most companies, including home delivery of cash, mobile phone top offs and bill payments. Also, with thousands of storefronts across the world, recipients can pick up cash money on the spot.
The company doesn’t have the most straightforward pricing structure—it can depend a good bit on where you’re sending and how—but still offers affordable prices, largely through using exchange rates, not fees, to make money.