Wave Send Money To Kenya Download
FOR HELP SENDING MONEY VIA WAVE TO MPESA-KENYA (MONEY TRANSFER) PLEASE CALL THIS NUMBER FOR SUPPORT: 888-966-8603 To listen to the show/broadcast please click on the media below. Your Host Susan Njeri Kariuki Drew Durbin Co-Founder and CEO of WAVE Send money to Kenya, with love.
A fee-free way to send money to Africa in 30 seconds.
The Wave app offers a secure way to transfer funds almost instantly to a mobile money account using your debit card — but for now it only works in Kenya, Uganda, Ghana or Tanzania.
Details
| Product name | Wave |
| Minimum transfer | $1 |
| Maximum transfer | $999 a day; $2,999 a month |
| Transfer methods | Debit card |
| Transfer options | N/A |
| Delivery speed | Instant |
| Banking partner | N/A |
| Available currencies | KES, UGX, GHS, TZS |
| Fees and exchange rates | No transaction fees; exchange rate markup of 2% to 3.5% |
| Customer service options | Text, phone |
How much will I pay to send money with Wave?
Wave is one of those rare services that doesn’t charge transfer fees. Instead, it makes money by offering you slightly worse than the mid-market rate when you exchange currency.
Pro tip
The mid-market rate is what your money’s worth compared to another currency. For example, the mid-market rate for dollars to euros could be 1 USD = 0.95 EUR.Charging above the mid-market rate means a company will convert your money for less than it’s really worth — reducing the exchange rate to 1 USD = 0.90 EUR, for example.
Keep in mind that big players like Western Union and MoneyGram make money on both exchange rate spreads and fees that can be higher for specific types of transactions, like paying with your debit card. With Wave, you cut out the fee altogether.How are Wave’s exchange rates?
Depending on your recipient’s currency, you’ll see a spread on the mid-market rate that appears to top out at about 3.5%.
To give you an idea of what you could pay on the exchange rate, here’s what Wave advertised at the time of this writing:
| Mid-market rate | Wave’s exchange rate | Markup | |
|---|---|---|---|
| Kenya | 1 USD = 102.92 KES | 1 USD = 99.97 KES | 2.9% |
| Uganda | 1 USD = 3,593.50 UGX | 1 USD = 3,500 UGX | 2.6% |
| Ghana | 1 USD = 4.38 GHS | 1 USD = 4.29 GHS | 2.1% |
| Tanzania | 1 USD = 2,244.82 TZS | 1 USD = 2,168 TZS | 3.4% |
| Nigeria | 1 USD = 363 NG | 1 USD = 352 NG | 3.1% |
What does this mean?
According to the mid-market rate, 1 USD is worth 102.92 Kenyan shilling (KES). Yet when you transfer through Wave, 1 USD is worth 99.97 KES.
Here’s what that looks like when sending $100:
- Your money is actually worth $100 x 102.92 = 10,292 KES.
- Instead, your recipient receives $100 x 99.97 = 9,997 KES.
Wave profits the difference of 295 KES — or about $2.80.
How does Wave compare to other services?
What types of transfers does Wave support?
Wave supports only debit card payments to mobile money accounts in Africa. You can send as little as $1 through Wave to Kenya, Uganda, Ghana and Tanzania.
At the time of writing, Wave supports transferring your cash to M-Pesa, MTN and Airtel mobile money accounts, with plans to add others as it expands into other countries.
How do I send money through Wave?
Download the Wave app for iOS and Android and register for a free account. You can start sending money immediately — just enter your recipient’s name and phone number.
How do I track my Wave transfer?
Once the recipient receives your transfer, Wave emails you confirmation. And you’ll see your transfer marked Funds Delivered in the app’s transaction tab.
Benefits and drawbacks
Pros
- Mobile app. No need for a desktop, you can transfer funds straight from your smartphone.
- Easy signup. To get started, submit your name, email and phone number on Wave’s site.
- Low minimum transfer. Transfer as little as $1.
- Quick transfers. According to Wave, transfers are instant.
Cons
- Only for mobile. Wave is a mobile-only app.
- Not for all African countries. Currently, you can send money to Kenya, Uganda, Ghana and Tanzania only.
- No credit card or PayPal payments. Load funds from a debit card only.
Wave Send Money To Kenya Download
How safe is Wave?
Wave is a licensed money transmitter in every country it operates in. It encrypts transactions through a 128-bit connection and doesn’t store your personal or financial info in its databases.
Next steps
To get started with Wave, download the app on your mobile device. Then sign up for an account and enter your recipient’s contact details to send money.
If you need help at any point in the process, email help@wave.com.
Compare Wave to the competition
Bottom line
Wave is a simple way to get money to African countries not often served by other money transfer services. It charges no fees to transfer funds directly to mobile money accounts — and it’s as easy sending a text.
Frequently asked questions
Wave has chosen not to accept credit cards or PayPal because both options cost the company processing fees. According to the company, accepting only debit cards allows it to keep costs low and pass savings on to consumers.
Yes. As long as your funds aren’t yet transferred to your recipient’s mobile wallet, you can cancel a transaction through the app.
This app is only available on the App Store for iOS devices.
iPhone Screenshots
Description
Send money with love from the US, Canada, and UK to East & West Africa:
** Instant, NO FEE transfers from your debit card to mobile money accounts in Kenya, Uganda, Tanzania, Ghana, and Nigeria
** Send money as easily and quickly as a text
** Personal support 7 days of the week
** Realtime updates on the status of your transfer so you always know where your money is
What’s New
Ratings and Reviews
Best app
Wave Send Money To Kenya Download Full
Very convenient and reliable. Funds are transferred within minutes. I will recommend to my friends. Send money from ur bed no hustle. Perfect for lazy ones like myself. Down side is when you try to make another transaction after a few days; you are asked to again re-enter card details. I wish the details would be stored so that what one needs is just one click or two and the transaction is done. I might need to send money whilst at work and don't have the card on me. Please look into it.
Great!
Send Wave Money Transfer
I have tried 2 online mobile money transfers to my dad and both failed after taking days to process even with service charge. I came across wave and decided to give it a go. It’s was instant and with no charge at all. 2 mins later called my dad and he’s received the money. Will definitely be using them and will recommend it!
Money is instant nit minutes!
My earlier experience wasn’t good as they wouldn’t process my card while residing abroad. Now I have local card and recently tried. Money was transferred in minutes as I looked on bar status and yes money delivered in Eastafrica. As for fee free, nit anymore as World remit are offering that now and their rate a lot better. Wheras WR is not
Instant, Wave is instant and need not make call after transfer to make sure
Money is delivered in short time.
Information
Requires iOS 8.0 or later. Compatible with iPhone, iPad and iPod touch.
Supports
Wave Send Money To Kenya Download 2017
Family Sharing
Up to six family members will be able to use this app with Family Sharing enabled.