With over 350,000 locations worldwide and a robust online presence, Ria is a convenient option for people who need a no-hassle way to send money internationally.
Launched in 1987 as a single New York City storefront, Ria has expanded exponentially in more than thirty years in operation. In 2007, Ria merged with Euronet worldwide and now provides wire transfer services to 149 countries. Money transfers are available to be sent from the United States, the United Kingdom, Spain, and Australia.
Customer service is available by phone during business hours â€” including Saturdays and Sundays â€” and a pricing tool allows you to see exactly how much a transfer may cost, making price comparison simple.
In addition to money transfer services, Ria also offers other services like money orders, check cashing, bill payment and prepaid debit cards.
Whether youâ€™re doing business with a client in another country or sending money to family members abroad, itâ€™s important to find a transfer company that delivers money securely, with minimal and transparent fees. You may also look for a money transfer company thatâ€™s available both online and in person, in the United States and around the globe. Comparing rates and capabilities helps you choose the best money transfer service for your needs.
In this review, weâ€™ll cover all you need to know about Ria and how it stacks up to competitors.
Options for receiving funds depend on where the recipient is located. Ria has a courier delivery service available in Vietnam, Peru, the Philippines and the Dominican Republic. Money can also be transferred for in-person pickup at a Ria agent location or deposited in a worldwide bank location.
Funds can be sent from bank accounts, credit cards, or debit cards, with additional fees that differ based on which option is chosen. Cash payments can be enabled by the companyâ€™s partnership with PayNearMe, which allows customers to use cash to start a transfer.
Transfer time is dictated by the transfer method chosen by the sender. Credit card and debit card transfers should take 15 minutes. Credit card transfers tend to be the fastest, and are also the most expensive due to processing fees.
Bank transfers can be the most economical option, but are also the most time-consuming, taking up to four days to reach a recipientâ€™s account. In addition, bank accounts require you to set up your bank account through Riaâ€™s platform, which can cause a delay as youâ€™ll need to validate your bank account info.
Right now, money can be sent to 149 countries on six continents, as well as within the U.S. Itâ€™s important to note that some countries have differing services â€” for example, itâ€™s only possible to send money to Nigeria through bank transfer, and many countries donâ€™t currently offer courier money services.
If youâ€™re sending money online, Ria caps transactions at $2,999.99 a day or $7,999.99 a month. It may be possible to send more money if youâ€™re working directly with an agent.
Fees vary depending on country, the payment method and payout method, but itâ€™s not uncommon for fees to be about 0.5% to 1.5% of the total amount youâ€™re sending.
Riaâ€™s price calculator tool provides transparency into how much you pay in fees based on how youâ€™re sending the funds. There may be different fees based on whether you send the transfer online or work with an agent. In addition, you may be charged a retail exchange fee if you want the payout for your recipient to be in local funds, rather than dollars.
So how do Riaâ€™s fees stack up to other money transfer services? These fees may be lower than transferring money internationally through your bank, but it really depends on all the factors we outlined above, so be sure you compare. Wire transfers from your bank may charge a one-off fee (regardless of how much youâ€™re sending) of $20 to $35 per transaction, and may also charge a fee for the recipient who receives them.
A thirty-plus year history in international money transfers and a robust presence abroad could make Ria a good option, depending on your needs. Here, some potential things to consider:
Western Union and TransferWise are international money transfer companies providing similar services to Ria.
Western Union stands out among competitors for its conveniently large network and speed. With more than 500,000 agent locations, finding a convenient spot to send or receive money may be easier than with other service providers.
TransferWise is a relative newcomer to the international money transfer market. Among its unique features is a â€śborderless account,â€ť or an account where you can keep money in 40+ currencies, transferring them when needed. Like other money transfer options, TransferWise has an online pricing calculator to help you estimate transfer costs and fees.
Riaâ€™s robust global presence, including a very large number of brick-and-mortar locations and variety of delivery options, make it a great choice for people who need flexibility in transferring smaller amounts to diverse recipients. However, itâ€™s less-than-stellar app and lower monthly transfer ceilings may limit its utility for some users.