Wave money transfer

Money transfer

How to send and receive wave money transfer

Wave money transfer – On a continent where over half of the population has no bank account, deepening financial inclusion remains on top of priority to provide affordable financial services to everyone irrespective of their locations.

Wave money transfer is building the first modern financial network for Africans – no account fees like the conventional financial institutions, always available and widely accepted in enabled countries.

To trace the success of financial inclusion in Africa, when mobile money succeeded in Kenya, it practically lifted about 1 million Kenyans out of poverty.

10 years on most Africans lack access to affordable ways to save, transfer or borrow the money they need to build businesses or provide for their immediate families.

Wave money is providing answers to these problems by building a radically inclusive and extremely affordable financial network via technology.

What you can do with wave money app

  • Pay bills
  • Withdraw money from an ATM
  • Monitor your cash-flow
  • Send money via ACH transfer and email money transfer

How to send money via the wave money transfer

You can basically use the wave money transfer app to send money in two ways

  • Through ACH or
  • Email

ACH transfers

ACH stands for “Automated Clearing House,” a U.S. financial network used for electronic payments and money transfers.

ACH is basically a way to transfer money from one bank account to another through direct payment.

You can send money to a receiver straight from your Wave money account via ACH transfer.

  • Download the wave money app for Android and IOS on Google play store and App store
  • Install the app and sign up
  • Sign in with your user ID and password
  • From the dashboard of your wave money app click on “Send money”

If you are sending money to this receiver for the first time, you will need to add the receiver’s details namely (Name, valid email address, routing number and bank account number)

  • In the column advised, enter the amount you want to send and the receiver’s name
  • Click “Send ACH transfer”

On successful transfer the fund will automatically be deposited in the receiver’s bank account usually within 2-3 business days. This may take up to 7 business days some times.

Email transfer

With the email money transfer you can send money from your wave money app to a receiver using a valid email address.

Step one: Logon to your wave money app

Step two: Select “Send money”

Step three: Select a previous receiver or enter a new one, whichever applies

Step four: Enter the receiver’s detail (Name or business name, email, optional message, security question and security answer)

Step five: Confirm the amount, name and email before selecting “Send now.”

The fund will be credited to the receiver’s bank account in 3-4 business days on receipt of the transfer by the receiver.

How to receive wave money transfer

Having sent the money the receiver should receive a mail stating the details of the transaction as sent.

  • Select the deposit now option as seen on the mail, you will be redirected to a secure portal where you can begin the acceptance of the fund, kindly select “Continue”
  • You will need to correctly answer the security question inputted by the sender. The receiver has three attempts to answer the question correctly, in event incorrect answer is provided three times the transfer will be cancelled.
  • If the answer to the security question is provided successfully, the business owner will be required to provide detail of financial institution they will like the fund deposited.
  • By selecting your financial institution a secure login portal will be opened for your online banking, on successful logon you can choose which account you would like to deposit the fund into.
  • The fund will be credited in your desired account.

Wave money transfer limit

In every transfer platform there are limits to how much money you can send, you can initially transfer a maximum of $999/750 Pounds/750 Euro per day and $2,999/2,500 Pounds/2,500 Euro per month.

The above limit can be raised per month if wave money receives proof of identity as part of photographic ID.

Is wave transfer safe?

Wave uses strong encryption and security to protect personal data and payment information, and adhere to industry best practices. Wave also send money to the beneficiary instantly, so it’s not kept in wave’s bank accounts.

 Wave app download

You can download the wave app for Android and IOS on Google play store and App store respectively.

What are the fees?

Your wave money account and wave Visa business debit card are 100% free, there’s no fee to open your account, no monthly or transaction fees and no fee for cash withdrawal.

You may be charged a fee for using out-of-network ATM for any transaction, including checking your account balance, the ATM provider may charge you a fee.

How do I find my account and routing number?

In the wave money app, select settings from the dashboard. If you are on another page first click the back arrow until you reach the dashboard, your account and routing number will be displayed at the top of the settings page.

How do I change my personal identification number?

You may reset your PIN by going to the security section in your wave money app, clicking the image of your card and selecting change PIN under security.


Sending money with wave can be seamless with a simple and intuitive mobile application, while exchange rates for some currency pairs are fairly competitive, no fees attached apart from a percentage of the exchange rate.

There’s however a limited sending availability as you can currently send from the UK, the US and Canada.

There’s a limited receiving availability as beneficiaries must be in Ghana, Kenya, Nigeria, Tanzania or Uganda at the moment.

Wave money transfer services are only available via mobile application, there is no website portal or local agent network.

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