Prexpe review

The monthly fee is PEN 0, so there is no charge for keeping the account open. Currency conversion is also 0%. Withdrawals from ATMs come with an allowance of PEN 0. That leaves charges only on transfers.

Transfers to a bank account or CCI carry a flat charge, and Prexpe to Prexpe transfers are free. International transfers are listed at $2.99 and are free for a limited time. Delivery to another Prexpe account is immediate, while banks and wallets abroad take several business days.

Prexpe is run by Prex S.A.C. in Peru. The account is covered by the Superintendencia de Banca, Seguros y AFP (SBS), with Gmoney S.A. named as the registered electronic money issuer. The account is digital only, so everything runs in the app.

Prexpe supports 2 currencies. That is a small list, and it ranks the brand 274 out of 379 on the site. The average multi-currency account carries more, with an upper quartile of 13.

Payouts run bank, cash pickup and wallet, so you can withdraw to a bank account, collect in cash or send to a wallet. Transfers to another Prexpe user land immediately. The cash withdrawal allowance stands at PEN 0.

Support runs on email, chat and phone, which covers phone, email, chat and a help centre. That gives you more than just in-app messaging when a payment stalls. Phone support is the quickest route for an urgent transfer question.

The stated audience is expats, so expats living in Peru are the core user. The account suits people who already hold local money and want fee-free everyday banking. It was founded in 2015 and is a digital-only product, which suits people comfortable with apps.