When it comes to supporting your family, we know every second counts. Whether the cable bill is due or there’s a medical emergency, sometimes, money needs to travel faster. With Pangea, you can make urgent payments abroad, even if your bank balance is low, by using a credit card.

But remember, it’s a good idea to know the benefits and drawbacks of sending with a credit card before choosing to do so. Transparency is important to us, and we want to make sure you have all the details to make an informed decision.

Pros:

1. Swift and Efficient Sending: Using a credit card means that the funds will arrive quickly — most transfers are processed within seconds. This can be especially handy when they need the money for urgent expenses.
2. No Bank Account Required: Sending with a credit card doesn’t require a bank account, making it a great option for those who otherwise wouldn’t be able to send money with Pangea.
3. No Need to Preload Funds: When budgets are tight, a credit card can be a great lifesaver to bridge the gap between when you need money and when you actually have the money. When you pay with a credit card, you don’t need to have the funds before you send.

Cons:

1. 3% Surcharge: When you pay with a credit card, a 3 percent surcharge is automatically applied, meaning credit cards are a more expensive way to send. Debit cards and bank transfers do not incur this charge and are often more efficient ways to send.
2. Potential for Interest & Fees: Depending on your card provider, it’s possible that using a credit card can result in additional fees or high interest. That’s because some card providers treat money transfers as a cash advance, whereby they may charge you additional fees or interest depending on your agreement. It’s best to check with your credit card provider before sending to understand any third-party charges.
3. Only select credit cards: Pangea only accepts US-issued Visa and MasterCard. We cannot accept cards linked to corporate accounts.

At Pangea, we strive to provide you with the most useful tools for sending money abroad. We also believe that our customers should be informed of all their options. Credit cards can be a great way to make quick payments without worrying about cash on hand, but be mindful of additional fees that can increase the cost of sending.

DISCLAIMER – This content is for educational and informational purposes only, and is not intended as financial, investment, or legal advice.