Receiving money from international and local clients has been made easy thanks to the advancement in science and technology which has given rise to numerous online and internet platforms.
PayPal, flutterwave, and Payoneer are some online platforms where you can receive money from anywhere in the world. Mobile banking apps such as Kuda, PalmPay, FairMoney, and Opay are equally doing well when it comes to providing Nigerians with the opportunity to receive money and make online payments without stress.
However, have you heard of Sendwave? Do you know how to receive money through the Sendwave platform? What about Sendwave charges – do you know that too?
Well, don’t feel bad if you’re hearing it for the first time. We shall be unveiling everything about the fast-growing platform in this write-up. So, sit back, and relax while we hit the running.
What Is Sendwave?
Sendwave is a finance mobile app or internet platform that allows you to send and receive money from over 80 countries of the world in less than a minute. With Sendwave, you can send at least $1 and at most $2999 to any supported country.
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Sendwave functions by allowing you to transfer money from the bank account linked to your Sendwave profile to a foreign country of your choice. It equally allows you to receive money in for foreign currencies.
Download the app and create an account to explore the fast-growing online platform. However, you must know that you can’t transfer more than $2999 via the Sendwave platform, and there is only a limited number of countries eligible to receive money on the platform (We will discuss more on this later in the article)
How to receive money from Sendwave in Nigeria
Below is a step-by-step guideline on how to receive money from Sendwave in Nigeria.
Credit Your Sendwave Account:
Your client or family in the foreign country must first send the dollar or foreign currency into your SendWave account.
Wait For Notification From Sendwave:
You will get a notification message from the Sendwave platform via your registered email address or phone number.
The message will direct you to go pick up the money from any nearest First bank, Zenith bank, or Access bank. The good news is that you can pick up your dollar or other received currency from any of the banks even if you don’t have an account with them.
Save The Voucher Code Sent To You:
The notification message will equally contain a voucher code. You mustn’t joke with the voucher code because you will need it to obtain the money from your chosen bank.
Visit a bank of your choice to pick up your Money
Present the voucher code to the bank representative to begin the withdrawal process.
Provide The Verification Code Sent To You
Sendwave will send a new verification code to your phone number as soon as the bank begins the withdrawal or pick-up procedure.
You are to provide the verification code to move to the next phase of the process.
Give the verification code to the bank representatives for authentication. The bank will give you the money in foreign currency once the authentication is successful. It’s left for you to find the best Bureau De change to convert the money to Naira.
Sendwave will send you a Final Message
Sendwave will send you the last message, calling your attention to a successful withdrawal process. Meanwhile, you should know that you will get ₦5 for every dollar you received in any of the Nigerian Banks.
Does Sendwave work in Nigeria?
Yes. Sendwave works pretty well in Nigeria and some other countries.
Access, Fidelity, Zenith, and GTB banks are the Nigerian banks where you can pick the money you receive via the Sandwave platform. However, Sendwave only approves Access, GTB, and First Bank for domiciliary accounts.
Other countries where you can deploy Sendwave for your transactions include the USA, Uganda, Canada, France, Italy, Ireland, Kenya, Tanzania, Ghana, Nigeria, Liberia, Bangladesh, Sri Lanka, The UK, Spain, Vietnam, and The Philippines, Senegal, and Thailand.
What is the limit of Sendwave?
Sendwave normally allows users to send a maximum of $999 (£999 or €999) per day, and $2,999 (£2,500/€2,500) in a month due to banking regulations.
However, you have the chance to increase the daily or monthly limit to $2.9K by providing a government-issued ID photo.
How To Increase Sendwave Limits
Below is a quick step-by-step guide to increasing Sendwave limit:
- Download the Sendwave App
- Log into your account
- Provide an up-to-date government ID
- Go to the Settings Page
- Click the ‘Raise Limits’ option and wait for their response.
- You will be told if your application is successful or not.
Is sending money through Sendwave safe?
Yes, sending money through Sendwave is safe and secure as it deploys top security measures.
It provides top-notch security for all transactions through a 128-bit connection, meaning your transfer won’t hang or seize at any point.
Likewise, Sendwave doesn’t store users’ personal or financial details in its database as part of its strategy to protect your information from internet hackers.
The operators ensure all received money doesn’t stay in Sendwave bank accounts for long before redirecting it to the appropriate recipients’ accounts.
What is the best app to send money to Nigeria?
There are numerous apps to send money to Nigeria from anywhere across the globe, including WorldRemit, RIA Money Transfer, Eversend, Sendcash Africa, Remitly, etc.
However, according to prime gate digital, the top 8 apps to send money to your family in Nigeria are Deel, Payoneer, Flutterwave, TransferGo, Paystack, Azimo, WorldRemit, and Eversend.
As for Kobonline, Grey, Wirepay, Flutterwave, Changera, and RIA Money Transfer are among the best apps to send money to Nigeria.
Does Sendwave Ask For SSN?
It’s important you know a few things about SSN before we answer this question. So, what is SSN?
SSN stands for Social Security Number. It is a nine-digit number issued by the US government to eligible and interested US citizens and residents.
SSN is used for record-keeping purposes, taxpayer’s identification, and income reporting.
Back to the question, Sendwave doesn’t request your SSN before allowing you to use its services.
It will ask for a government-issued ID, and other identification information to confirm you provide genuine and accurate details while creating an account.
Where can I get Sendwave in Nigeria?
You can download the Sendwave app at Play Store or IOS store depending on your device. You can use the Sendwave service from anywhere in Nigeria as long as there is an effective internet network and browsing data.