April 15, 2021

28 money transfer services checked for Africa: extensive guide

by Jens Ischebeck

Money transfer services: An introduction

Money transfer services are becoming more and more essential for our daily live.

If you are working overseas and you want to send money anywhere in the world, including the Middle East and African countries, the last thing you want is to have to put up with technological glitches, delays, and other restrictions.

Furthermore, it is important that you get more for your money without it being swallowed up by high fees. E.g. read this New York Times article "The Best Way to Transfer Money Internationally? Avoid Bad Rates."

Despite recent technological advances, the cost of transferring money to Africa remains extremely expensive, with fees often surpassing 9%. However, sending money abroad doesn’t have to cost an arm and a leg. With the right online money transfer provider, you can even save a fortune on remittance fees.

This article provides plenty of helpful information to help you choose from some of the best methods to make online money transfers hassle-free. Get access to the latest technology available with some popular financial apps just waiting for you to download.

I. Money transfer services with established money transfer operators

Western Union money transfer service

1. Western Union

To begin with, there are the traditional financial services providers who can help you to send your money online. These include the big names like Western Union, who are one of the most well-established international communications companies based in the United States.

Western Union is one of the largest and oldest money transfer providers worldwide. The service allows people to send and receive money at more than 550,000 agent locations in over 200 countries and territories worldwide. The money transfer provider has a network of 39,000 agent locations in 49 African countries including Kenya, Nigeria, Ghana, Ethiopia, Guinea, Tanzania, and Senegal to name a few.

The provider offers more flexible services to its vast range of customers when compared to other money transfer providers. In addition to the agent locations, Western Union offers its services through a variety of channels including bank accounts, mobile wallets, ATMs and post offices making sending and receiving money quick and convenient.

With Western Union, you can choose to transfer funds to Africa in person or online using the provider’s website or mobile app. Payments can be made with cash at an agent, directly from a bank account, with a credit or debit card or with Apple Pay. Worth mentioning is that transferring money to a mobile wallet and qualifying bank account is only available in select countries.

Fees and foreign exchange rates often vary depending on the channel and location. Transfer fees for funds up to £1,000 ranges from £0 to £95 but the money transfer provider’s rate markups range from less than 1% to 10%. These fees may be less when a person transfers money regularly using the WU app and pays at a participating Western Union agent location.

The money transfer limits also vary depending on the service the sender chooses, their transfer history, the sender and recipient’s location, and payout and payment methods. The provider’s website generally limits the transfer of funds above £7,500.

With Western Union, same day delivery is possible when you send money using debit or credit card, pay cash in person or have transfers sent to pickup locations. However, this may cost you more. Transfer to bank accounts is a cheaper option but can take over a week for funds to reach the recipient. The date of delivery will be made available for transfers over £15. It’s important to note that funds may be delayed depending on certain factors including the delivery option selected, the amount sent, currency availability, destination country, agent location hours and regulatory issues.

In terms of customer service, Western Union delivers exceptional customer experience. They offer 24/7 customer service via phone and you can also reach them by live chat, email or snail mail. A huge downside to their customer support is that the FAQ section isn’t easily discoverable or thorough.

What Western Union Can Offer You

  • Money transfer services to 200 plus countries
  • You can send money to a bank account or a phone
  • They have 500,000 plus agent locations to collect money

Where Western Union shines:

• Transfers to destination countries not offered by other providers
• Wide range of payment and delivery options
• In many cases, the recipient is able to access funds within minutes
• Exchange rates are slightly better than those offered by major banks

Where Western Union falls short:

• Costs tend to be higher than average

2. Moneygram

Similarly, money transfer services are also provided by big players like Walmart with their Moneygram business. You can make online money transfers and your recipient[s] can collect the monies from one of Walmart's approved agents.

If you choose this option, however, you need to be aware of the hours of business that agents near to your recipient operate within, in order to avoid inconvenience.

What Walmart Moneygram Can Offer You

  • Low transfer fees
  • Online money transfer services
  • Local, approved agents are available
  • Hours of business of local agents may vary
PayPal money transfer service

3. PayPal

Since its inception in 1999, PayPal has played a significant role in the e-commerce sector. With this electronic commerce company, you can shop online, make and receive payments if you’re an entrepreneur or freelancer and send cash to friends and family across the world.

PayPal account holders can send and receive money in over 20 currencies across more than 200 countries. The service is also available in several African countries including Nigeria, Kenya, Tanzania, Cameroon, Zimbabwe, Ivory Coast and Chad to mention a few.

While PayPal is great for sending money to friends and family living in your country, it isn’t the best way to send money internationally. PayPal does not charge fees on domestic money transfers but it does charge a fee on international money transfers. The transfer fees depend on where you’re sending money to, how much you are sending and how you pay for the transfer.

PayPal transfer costs are quite high when compared to other money transfer providers on this list. Funding with a bank account is relatively affordable and you may be charged £4.99 or less regardless of how much you send. Transferring funds using a card carries high fees – you can pay £90 to transfer £2,999 to a PayPal account holder who hasn’t filled out basic information on their profile and hasn‘t verified essential information with PayPal.

There’s also a hefty margin on the exchange rate. Like banks, PayPal charges a currency conversion fee that’s above the wholesale exchange rate. The rates vary and can range between 3% and 4% depending on the currency that you’re buying. Your credit card provider can also tack on extra fees such as cash advance and interest fees.

Generally, PayPal charges high markups - 1% to 3% above the mid-market rate. Depending on the currency, you may incur costs at least 2.5% of the transaction amount and in some extreme cases up to 10% including both payment and currency conversion fees.

One upside to PayPal is that it is fast. Funds can arrive within minutes even transfers made with bank accounts which usually take days with some competitors. Like with other money transfer providers on this list, you can send money through PayPal’s website and mobile app and pay with a credit card, debit card or bank account. In addition to being fast, the service offers high transfer limits for verified accounts - up to £25,000 per day.

Where PayPal shines:

• A variety of delivery options
• Same-day delivery to many African countries

Where PayPal falls short:

• Costs are generally higher than competitors’
• Lacks some support channels like live chat support

II. Money transfer services by mobile phones and apps

While all of these methods are perfectly okay, you don't want to miss out on taking advantage of the improvements in phone app technology that make money transfer services convenient and straightforward.

Essentially, if you have a phone the world can become just that bit smaller and more manageable whenever you want to transfer your money.

Money transfer services have surged forward into the 21st century, with the development of some brilliant apps that can make your life less complicated, at least as far as transferring money is concerned.

It doesn't matter where you are working in the world, anytime day or night, money transfer services apps can get your hard earned money transferred to whoever, whenever and wherever in super quick time.

To help you get started, here are some of the most popular money transfer services phone apps available today.

If you want to start transferring your money with ease, backed up with the peace of mind of first-class inbuilt security and reliability, then read on to see the great benefits waiting for you and download one of these apps today.

WorldRemit money transfer service

4. WorldRemit

WorldRemit is an online money transfer service that delivers to more than 140 countries across the world. Of the 140 countries, users can send money to 41 African countries including Burundi, Cameroon, Ivory Coast, Kenya, Mozambique, and South Africa.

The service heavily focuses on money transfers via computer and mobile devices, on the sending side the service in 100% cashless. In fact, a third of the company’s transfers are received on mobile phones making it one of the leading remittances senders to mobile wallets worldwide. Sending and receiving money is simple and seamless and you can find clear and self-explanatory instructions on the website as well as the mobile app.

The money transfer provider offers the flexibility of paying with a debit or credit card or from your bank account. You can also pay via Android or Apple Pay. The recipient can receive the funds as mobile wallet deposit, in their bank account or pick it up as cash from one of the 30,000+ agent locations worldwide.

The biggest advantage of WorldRemit is cost. It is one of the cheapest international money transfer services on this list. Like other online money transfer providers, the fee you pay to send money to any African country depends on the amount you send, the recipient’s country and how the recipient will receive the money. The provider’s markup is less than 1% and you can expect to pay less than $4 for a bank deposit of $1,000 to an African country.

Another competitive advantage for WorldRemit is speed. Most transfers arrive almost instantly. Some take longer depending on the type of transfer and how you paid for the funds. For example, card transfers may take longer due to card authorization. If you choose bank transfers, it can take from between 24 hours to five days depending on which banks are involved.

The minimum transfer amount is $0 and the maximum transfer amount is $5,000. However, the maximum transfer limit for funds sent through credit or debit card is $2,000.

Where WorldRemit shines:

  • Large range of destinations
  • Competitive exchange rate
  • Fast money transfer services
  • No minimum transfer amount
  • Quick download available for iPhone and Android devices

Where WorldRemit falls short:

• Maximum amounts apply when sending
• Transfer charges increase as the amount goes up

Azimo money transfer service

5. Azimo

This UK based company offers online remittance services to more than 200 countries around the world 40 of which are African countries. Azimo’s website and mobile apps allow you to transfer funds conveniently from anywhere and anytime. You can pay for the transfer with your credit or debit card, through a bank account or with an online direct payment method such as SOFORT. Recipients can receive the funds through their bank accounts, mobile phones or any of the Azimo pick-up locations.

Sending money using Azimo is easy. To get started, you need to set up an account with the money transfer provider. Then choose a country, method of delivery and enter the recipient’s name. Choose the amount you’d like to transfer and pay with bank transfer or debit/credit card. Check all the details provided then confirm the payment. Most transfers are completed in less than 24 hours. Instant cash delivery is only available in 50 countries.

Azimo’s pricing is cheaper than your average high-street bank and other money transfer providers in terms of fees and foreign exchange rates. The first two transfers are fee-free. The other international money transfer costs can be as low as £1 depending on how much money you’re sending, where you’re sending the funds and the method you send the money with. But no matter what, you can expect low rates – in most cases up to 90% lower than banks and other money transfer providers.

Where Azimo shines:

  • No transfer limits
  • Considerably cheaper than most money transfer providers
  • An award winning money transfer services app
  • No recipient details? No problem - send money just using a phone number
  • Take advantage of up to the minute biometric security
  • Your first money transfer is 100% free
  • Great customer support
  • You can track all your money transfers
  • Leading provider for remittances to African countries from Europe!

Where Azimo falls short:

• Mobile wallet transfers are available in a few select countries
• Transfers can take up to two business days or longer to arrive.

CurrencyFair money transfer service

6. CurrencyFair

This online peer-to-peer currency exchange service helps Africans receive funds via an online portal just like Worldremit. The company, which has its main office in Ireland, also has offices in the UK, Newcastle, Australia, NSW, and Singapore. It offers its money transfer service in 19 major currencies.

On CurrencyFair, money never crosses the border, which eliminates costly money exchange fees. When customers have one currency but need it in another, they will be matched with someone who has a need for your currency.

On CurrencyFair, customers are matched with someone immediately using the Auto-Transaction process. You are given the option to set the desired rate and you can choose to wait until you find a match. This service allows people in Africa to send money to their home country from their bank account to another bank with rates being up to 90% cheaper than using other services. The company believes that most of their growth will come from people in the developing world such as in Asia and Africa.

More than 10% of CurrencyFair users say that they have gotten a better rate than if they had used the interbank rate. This is the rate set by banks; it is the midpoint between the buying and selling prices of two currencies.

If you do not want to wait until you find another customer that matches your rate, you can choose to convert your funds using the rate set by CurrencyFair. The rates on this platform are usually about 0.35% below the mid-market rate.

CurrencyFair will let you exchange between 19 currencies and you can send funds to more than 150 nations, including many in Africa. The company has local accounts with the supported currencies, which helps to reduce transfer fees. They also have robust support staff that speaks English, German, and even French.

The platform will charge you a flat rate of just €3 for most transfers and you can send funds to the account you like. Most transfers take about a day but others may take up to 3 working days, depending on your location.
You can use the CurrencyFair website or download the app to make transfers. The app works on iOS and Android at all times except for the weekend and holidays. There is also a business money transfer service for businesses that manage a global payroll to send and receive money.

Where CurrencyFair shines:

  • Low flat fee
  • Transfer money to over 250 nations globally
  • Support for 19 currencies
  • Great exchange rates
  • Easy to make deposits to local CurrencyFair account
  • Intuitive mobile app helps you exchange funds without complication
  • Quick download for your iPhone or Android devices
  • Fast growing peer-to-peer network for African and Middle East countries!

Where CurrencyFair falls short:

• Limited options to fund your account
• Only supports 19 currencies

Wise money transfer service

7. Wise

Wise, formerly known as TransferWise, is an innovative online money transfer service that lets you send and receive money cheaply. It employs a smart new approach to achieve this. The provider uses two local transfers instead of one international transaction allowing it to bypass high international fees. Unlike other money transfer providers on this list, Wise supports a handful of African countries and they are Egypt, Ghana, Kenya, Morocco, Nigeria, and South Africa.

This money transfer provider focuses on making bank transfer more affordable than high-street banks. The smart system that Wise employs ensures that money doesn't move across borders and the currency conversion is performed with the real mid-market exchange rate. The provider, therefore, doesn’t charge an exchange-rate markup on money transfers. This allows the customer to avoid banking fees and losing money by transferring at an unfair rate.

Making money transfers with Wise is easy. Just go to the provider’s website and create an account – the sign-up process takes only a few minutes. Type in your details and those of the recipient and the amount of money you want to transfer. You can choose to send funds from your online bank account or your credit card. Either way, the money will be sent directly to the recipient’s bank account. You will receive confirmation emails when you complete the transfer process and when the recipient receives the money.

The fee you’ll pay depends on the amount of money you send, the destination country and how the recipient will receive the funds. The fixed cost charged by TranferWise is a combination of a fee slightly less than 1% of the transfer amount and a flat cost of around £1. The upfront fee for transferring a pound sterling to euro is 80p plus 0.35% of the transfer amount. Therefore, if you are using bank transfer to send £1,000 you will pay £4.29 for the service.

With Wise, you can only make transfers to bank accounts. This is a huge drawback as most providers offer mobile wallets and cash pickup locations worldwide that make it easier for people who don’t have bank accounts. However, the provider offers a variety of sending channels including the mobile website and mobile apps and different payment options which include Bank account (wire transfer or ACH), Apple or Android Pay, credit card and debit card.

Transfer times depend on the currency you are sending but most transfers to Africa take anywhere between three to seven business days to arrive. There is no minimum limit but the maximums are £1 million for bank wire transfers and £15,000 for the first time using ACH and £20,000 after that.

Where Wise shines:

  • Fair exchange rates
  • Transparent fees
  • Easy to use
  • Easy download on iPhone and Android devices
  • You can keep track of all your financial transactions while on the move
  • You can make new money transfers anywhere in the worldAccess records for all your previous recipients and their details
  • Repeat money transfers without needless repetition - so convenient for regular money transfers
  • Everything available at the touch of a button on your phone
  • Leading provider for remittances to India!

Where Wise falls short:

• The recipient needs to have a bank account
• Fees add up as transfer amount increases

Xoom money transfer service

8. Xoom

Xoom is a major money transfer service that lets you send money from the US and Canada to more than 130 nations globally. You can fund your Xoom account using a bank account, debit, or credit card. Depending on the location where the funds are sent, the funds can be delivered as cash, sent to a bank account, or used for airtime top-up. In 9 nations around the world, Xoom can be used to pay for utilities. These are the Dominican Republic, Costa Rica, El Salvador, Guatemala, Mexico, Honduras, Panama, Nicaragua, and Vietnam.

Xoom is a service owned by PayPal and the services are integrated. Since Xoom is part of PayPal, you can use a PayPal-linked account, debit card, or credit card. However, you cannot send funds out of your PayPal balance.
Xoom comes as a mobile app for iOS and Android. Their site can also be used for transfers and it is available in English, Portuguese, Vietnamese, Simplified Chinese, Koreans, and Spanish. You will be informed of the status of transfers using text updates or emails.
This service has an upper limit of $2,999 daily. If you do not provide verification documents, your limit is set at $6000 a month and $9999 in six months. To increase your limit, you should provide additional documents such as an ID, proof of income, and a bank statement. You will also need to answer some security questions when you increase your limit on Xoom. For instance, your relationship with the recipient will need to be established and the purpose for sending the funds.

Where Xoom shines:

• An excellent network of delivery options including cash pickups in the Philippine’s and Mexico
• A large network of transfer options for Latin American residents
• Quick transfer speeds to many nations globally
• Reliable customer services

Where Xoom falls short

• Only offered to those residing in the US and Canada
• Exchange rate markup is not done transparently
• The total costs are usually higher compared to some other money transfer options


9. Wave

Wave is a money transfer service renowned for its high transaction speeds in Africa. Although they are only available in a few African nations, they do not charge a fee and they have a mobile app, which is easy to use.

Wave will only let you send funds using their mobile app on Android devices. Those in the UK, Canada, and the US, can send money to receiving nations such as Kenya, Nigeria, Ghana, Uganda, and Tanzania. While the nations receiving funds are limited, Wave is planning to expand its reach to more nations in Africa.

There is no fee to use the service. Instead, they make money by using a base exchange rate that is slightly worse than the interbank rate. This rate is usually 1.5 percent to five percent lower. It can make it slightly more expensive than other providers can for money transfers.

You are only able to send money from your debit card linked to an account in the US, UK, Canada, and any other nation approved by Wave. The mobile app can be used in any location around the world as long as payments come from an account approved by Wave.

You cannot use a credit card, direct bank transfers, or PayPal to fund your account. There is also a limit on how much money people can send. You can send a maximum of $999 a day and $2999 per month. The limits can be raised to $2999 and $12000 a month. The limit is only raised after you provide proof of identity via a photographic ID.

Where Wave shines:

• Money transfers are very fast, often taking 30 seconds
• The Wave app is simple to use
• The Exchange rates for some pairs are quite competitive
• There is no fee except for the percentage charged on the exchange rate

Where Wave falls short:

• Limited availability since you can only send funds from the US, UK, and Canada
• Limited receiving ability since receivers must be in Kenya, Uganda, Tanzania, Ghana, or Nigeria
• The exchange rates for some pairs are not competitive
• You can only access the Wave service via a mobile app, there is no website


10. Simbapay

SimbaPay is a money transfer service created by Nyasinga Onyancha. The service is based in London and allows those in Nigeria and Kenya to receive funds. Countries that can access the service are Ireland, Italy, the UK, Ireland, Germany, and France.

With this service, you can receive funds to a bank account or a mobile wallet such as Paga, M-Pesa, or Airtel Money. This was the first money on mobile service to allow international access to the M-Pesa Paybill service. With the Paybill menu, you can pay bills to various companies in Kenya directly from the Safaricom mobile wallet. As such, using SimbaPay, you can go online and pay bills to any company in Kenya operating a paybill. This is all possible without owning a Safaricom line as is the case with Kenyan subscribers.

The company has partnered with various banks in Africa such as KCB, Family Bank, Co-Op Bank, and M-pesa to allow users to make utility payments online. Customers will only need their MasterCard or Visa card to fund their SimbaPay account. There is an upper limit of $45000 per transaction.

Where Simbapay shines:

• Fast payment service for those in Kenya and Nigeria
• Partnership with various banks, which makes it easy to pay utilities
• Zero fees charges

Where Simbapay falls short:

• An upper limit of $45,000
• Only offered in Kenya and Nigeria


11. Mergims

Mergims is a Rwandan start-up that has created an Android app, which offers Rwandan expats to choose and select from abroad services and goods that can be delivered to their relative in Rwanda by companies in Rwanda.

The founder of the app, Muhure Louis Antoine was born in Rwanda and moved to Canada during the Rwanda Genocide. Like many expats, his family was sending funds to those still in Rwanda. He thus had firsthand knowledge of how difficult it can be to send funds back home. The process was slow and the fees were high using services such as Western Union and other banking services. There is also the fact that there is no warranty the funds will be spent well.

He thus created Mergim to tackle some of these issues. After fundraising $50,000, a site and an Android app were created. The sender will then be able to choose a product that is delivered in Rwanda, a supplier and the amount that is sent. Many products including insurance, food, health costs, and school fees are sent.

There are over 2500 customers using the app and more should come once the Apple version of the app is released. Besides that, the service will be extended to other nations in East Africa and services accessible via the app will also be increased.

The app charges a small fee of 5% on each transaction. This payment can be made via PayPal or a credit card. The receiver can then use the service or good that has been paid for. Mergims offers a better rate than traditional money transfer services, which charge a fee of as high as 15%. This app is quite easy to use.

Other companies can only compete with Mergims via the cash-to-cash service. However, Mergims offers a cash-to-good service where other companies are not present. The sender gets their funds quickly and the money is spent for the intended purpose. This model will enable Mergims to be compensated by collaborating firms in Rwanda besides that the commission rates and app add income.

Where Mergims shines:

• Fast money transfers
• Convenient cash-to-good service
• Easy to use

Where Mergims falls short:

• Only offered in Rwanda
• Limited services and goods can be bought


12. SawaPay

If you have a relative working in the developed world or you work in the developed world, then you no doubt know how much the development of communication technology has been a good thing for Africa. With the SawaPay money transfer service, you can send funds to Africa with the click of a button. People working abroad have lost millions of dollars as they attempt to send funds back to Africa. However, apps like SawaPay are making a huge difference, ensuring that families can get their money with ease.

SawaPay is run by First Choice Global Ltd and allows users abroad to send money and make simple payments with ease without worrying about losing their funds. The app is offered in various states in the US to send money to Kenya instantly to bank accounts, M-Pesa or to a Paybill with no fees.

The app lets you deposit funds to a bank in Kenya instantaneously. The funds are received instantly and the user can start using them. Funds are sent to M-Pesa or a mobile wallet. Besides that, the service can be used to pay bills, tuition, or utilities. Even mortgages can be paid via the app. Senders give specific instructions on how their funds should be used. The app is offered on Android but will soon be offered on iOS.

The app is able to avoid transaction fees by charging a slightly worse rate on the exchange rate. This can be 1.5% to 5% in some cases. It is still much better than the high fees of up to 15% charged by existing money transfer services. Since funds are sent instantly, it is a great app for the purposes of sending emergency funds when the need arises.

To allows sending funds with ease, the app partnered with CoinX, which is a registered Money Transfer Operator in 42 US states. The agreement makes SawaPay its exclusive agent in SubSaharan Africa.

Where SawaPay shines:

• Quick funds transfer from the US
• Easy to use
• Allows those working abroad to pay utilities and even school fees for their relatives in Kenya

Where SawaPay falls short:

• Only offered in Kenya
• Not available in all US states

III. Further African Money Transfer Services


13. Kudi.com

Kudi is a chatbot available on social Apps such as Facebook Messenger, Telegram, and Skype. The chatbot was developed to address the need for an easy and affordable way of sending money to West African countries.

In Nigeria, sending money to family and friends and paying bills has not been easy, but thanks to Kudi, money transfer challenges have become a thing of the past.

Kudi helps Nigerians make money transfers, pay bills, and buy phone airtime in a matter of minutes.

Unlike other money transfer platforms, kudi is an interactive platform where the user can make financial inquires, and the bot can respond instantly.

 Subsequently, Kudi has developed from just a chatbot that responds to a Fintech company's financial requests. Their focus is providing financial services across the African continent and become a reputable remittance company.

With Kudi, you send money and pay bills through messaging. I.e., instructions are given to the bot by sending messages as it responds.

Using Kudi has its pros and Cons. Below are some of them.

Advantages of Kudi

  • Kudi offers free bank transactions. This means that you are not charged any fees when sending money to a recipient's bank account.
  • You don't have to download the App to transact. Although Kudi has developed an App, it's not a must you download the App or visit their website to make payments or send money. This is because, with kudi.ai, you can use other apps such as Facebook messenger to complete your transactions with no fuss.
  • It's easy to use. Everyone requires an easy way to send and receive money. Thanks to Kudi, you are only required to input your card details once, and from there, you make transactions through messaging kudi.ai.
  • There is a kudi contact list reducing the chances of sending money to the wrong address. The sender will message the bot to send money from the contact, automating the transaction.

Disadvantages of Kudi

  • Kudi is only available in Nigeria. Other parts of Africa are not supported.
  • It is embedded in other Apps hence possibilities of insecurity, e.g., hacking.
Upesi Money Transfer

14. Upesi Money Transfer

The world has become a global village with technology taking over traditional ways of doing things.

Sending and receiving money has not been left behind. Thanks to Fintech, money transfer has become more comfortable, secure, and fast.

An excellent example of these Fintech companies is Upesi Money Transfer.

Upesi Money Transfer Limited is a Kenyan-based remittance company incorporated in 2015 with its headquarters in Nairobi, Kenya. The company was founded to transfer operations fostered towards enabling people living outside Kenya securely and efficiently to send money online to family and friends back home.

Upesi Money Transfer started its operations in January of 2016. It is regulated by the Financial Conduct Authority (FCA) based in the UK and the CBK (Central Bank of Kenya).

The company supports money transfers across East and West African countries only. However, there are plans to expand to the rest of Africa.

Upesi offers money transfer services such as Bank deposits and Cash pickups from authorized upesi agents (available in Kenya, Tanzania, Ethiopia, Rwanda, and Uganda). They also offer mobile money transfer services through their partnership with mobile money providers in West and East Africa (Ghana, Rwanda, Uganda, Kenya, and Tanzania).

Upesi Money Transfer has partnered with trusted online money transfer companies like Xoom, Uremit, Transfast, Small World, Moneytrans, Cash Express, and WorldRemit. Hence a guarantee of its legitimacy.

Advantages of Upesi Money Transfer

  • The company provides twenty-four hours secure online money transfer services.
  • They have very reliable customer care services with contacts available 24/7 (with a contact number for easy reach).
  • Recipients get the money instantly. You don't have to wait for days like in bank transfers.

Disadvantages of Upesi Money Transfer

  • It's only available in East and West African countries. Other African countries are not supported.
  • Allows transfers into but not out of African continent.

15. SendCash

Sendcash.africa is a convenient way for residents in Nigeria and Ghana to receive money from any part of the world.

The company links Nigerian and Ghanaian Bank accounts with Bitcoin wallet addresses, e.g., Cash App and Coinbase.

The sender sends Bitcoins to the bitcoin wallet address linked to the Bank account of the recipient. The recipient then receives an amount, equivalent to the bitcoins sent, inform of Naira or Cedi.

Sendcash ensures that the recipient receives the money regardless of whether they know anything about Bitcoin or not. They link a bitcoin wallet to the recipient account number where the sender transfers bitcoins, and Sendcash automatically converts them into the recipient's currency. The amount received will depend on the price of one Bitcoin when the sender makes the transfer.

They offer a limit of up to $2500 per day. Although this is low compared to other online money transfer Apps such as WorldRemit, the platform is paramount for average amounts.

Although Sendcash is only available in Nigeria and Ghana, it has significantly revolutionized Africa's cryptocurrency perspective.

Advantages of SendCash


  • It is fast. In most cases, the transactions take up to 30mins. Unlike ordinary bank-to-bank transfers, which might take up to a week to complete the transaction.
  • It's affordable. SendCash transfers have no fixed fee.
  • No sign up required to start using Sendcash. You are only required to key in the account number of the recipient and authorize the transfer.

Disadvantages of Sendcash

  • Sendcash only allows you to send money in the form of bitcoins.
  • It is only available in Nigeria and Ghana. Other African countries are not supported.
  • Bitcoin market rates affect the conversation. Therefore when prices fall, the sender will be required to transfer more bitcoins to match the intended amount.

16. Airopay

Airopay is a Nigerian mobile money transfer service provider that allows users to deposit, withdraw (including Card-less ATM withdrawals), and make payments such as electricity and water bills, pay for internet and cable TV subscription.

Similarly, you can make money transfers between accounts (both domestic and international money transfer) and recharge your phone airtime with this App.

Airopay was developed in 2013 by Charles Oyakhilome, with the primary purpose being to bring convenience to the banking services such as making payments and digital money transfer.

The App was launched in the Nigerian remittance market in November 2020.

The platform allows users to make payments in Nigeria, send and receive money from any location within minutes. Additionally, international transactions are safe and take about an hour to be completed. Also, you can use the App to top up airtime across the globe, unlike other mobile service providers, pay school fees for over 100 learning institutions and get updates on current account statements.

Airopay is not just a money transfer App; they offer unique services in the Fintech world. These include savings services, where the user can earn up to 16% interest per annum.  Secondly, Airopay provides loans for MTN customers. The loan approval takes place within 24hours and depends on the customer's behavior data and records.

How to start using Airopay – to use their services, you must download the App from Google Play or iOS. Create an account by signing up to get your Airopay Wallet.

Advantages of Airopay

  • The App rewards its users for bringing in referrals; once you refer a person to join Airopay, one gets an award of 370 Naira.
  • It is secure. Airopay is designed with Azure Security and is controlled by the Central Bank of Nigeria.
  • Enables you to save and earn desirable interest rates (up to 16% P. A).
  • Provides loans to customers.

Disadvantages of Airopay

  • In Africa, it's only registered in Nigeria
  • The App has low ratings on Google Play Store, which tends to create distrust among new users or those intending to sign up.
Chipper Cash

17. Chipper Cash

Chipper is a mobile money transfer application that allows one to make transactions from their home's comfort. It was founded in 2018 by Ham Serunjogi from Uganda and Maijid Moujaled of Ghana.

The App works across borders in money transfer services in several countries in Africa, including Kenya, Uganda, Rwanda, Nigeria, Ghana, Tanzania, and South Africa.

Chipper offers the convenience of money transfer without extra costs or hidden fees. However, to use this service, you must have Chipper Cash App installed on your mobile device.

One unique feature of Chipper is that if both the sender and the recipient have an account, they can request payment or initiate a transaction. Similarly, Chipper allows you to purchase airtime and earn. For instance, if you are in Kenya, for everything airtime you are buying through Chipper Cash, you get 2% cashback.

How it Works

You download and install the App from both App Store and Play store.

Register by entering your valid personal details such as name, email address, identification number, and phone number

After the account has been activated, you can start by adding finds to your Chipper account from your mobile phone account, such as Mpesa. You will get a notification on your device to authorize the request.

The money will then be moved to your Chipper wallet from your mobile account.

With the cash available in your Chipper Cash wallet, you can now quickly transfer to the intended recipient locally and across border s. You can also transfer money from your Chipper wallet to your mobile money account.

Pros of Chipper Cash

  • Gives its clients an option to buy highly discounted airtime.
  • Gives buyers and sellers a Chipper checkout that helps them make online and in-store transfers. However, this is not for peer-to-peer transactions.
  • It is easy to transact and use the App.
  • It's cheap. Transactions through chipper cash are cheap. Besides, it offers free cross-border transactions.
  • It does not charge a fee when making a bill payment. However, this feature is not yet introduced in Kenya.

Cons of Chipper Cash

  • Only supports cross border transactions and no international transfers
  • Only available in 7 countries

18. Afriex

Afriex is a digital platform providing mobile money transfer services across five countries globally.

This Fintech firm operates in Nigeria, Kenya, Ghana, Canada and the USA.

Afriex is one of the easiest ways to send money to Africa instantly and was founded in 2019 by Obinje John and Tope Alabi in San Francisco, United States.

With the latest advancements in the Fintech world, competition is stiff among key players in the industry. Therefore, for a small growing platform such as Afriex, strategizing to earn a competitive advantage is critical. This is why the App focuses on offering very low transaction cist at attractive rates.

The App includes a free multicurrency account that allows the users to have a better experience. For example, one can transfer Bitcoins where the recipient can withdraw, sell or use them to make payments. However, the value of Bitcoins depends on the current price in the market.

To start using Afriex, you need to download the App from App Store or Play Store, sign up using your email and create an account. The sign-up process is straightforward to ensure that new users can easily access their services.

Although it's a new platform, their services gradually gain popularity in Africa, primarily due to their friendly transaction cost and high daily maximum limit.

Advantages of Afriex

  • High daily maximum limit (up to $ 3000 per day).
  • Unlike other sizeable mobile money transfer service providers such as WorldRemit, Afriex supports both transfers into and out of African countries.
  • Very cheap – offers attractive rates and no fees charged on transactions
  • Fast and reliable – 90% of its transactions are completed in minutes. However, Bitcoin transfers can take up to 20 minutes.
  • It is secure – personal data is encrypted, and they have PCL DSS Complainant in line with payment card Data Security Protocols.

Disadvantages of Afriex

  • Only supports five countries worldwide
  • Only accepts debit cards (you cannot use a credit card, prepaid card or PayPal)

19. Dusupay

Dusupay is a Fintech company offering payment services across Africa. It allows users to securely and efficiently process payments for global business connecting Africa with the world.

With Dusupay, one can receive online payments from over ten African countries through the available payment options.

The company was founded in April 2015 by John Kigonya and Kenneth Ntende. It is incorporated in the UK and headquartered in Uganda - East Africa.

If you are an online business owner, Dusupay has got you covered in receiving payments within Africa. Creating an account or integrating it to your website allows one to accept payments through various options, including Debit /Credit cards, China Union Pay,  PayPal, Android Pay, Online Banking, and SEPA direct debits. Similarly, Dusupay supports mobile money transfers and payouts for Forex.

Supported mobile money providers include MTN in Ghana, Cameroon, and Uganda, Airtel money in Ghana, and Mpesa in Kenya. This makes the company the best payment services provider in Africa and places the African continent globally.


The company’s prices are dependent on the region and payment mode used. 

Below are the rates;

  • Uganda, Rwanda, and Burundi (mobile money) – their rate is 3.5%
  • Kenya (mobile money) – the rate is 3.9%
  • Tanzania (mobile money) – the rate is 4.5%
  • Cameroon (mobile money) – the rate is 4.9%
  • Nigeria (instant Bank wire, Verve Card) – the rate is 3.9%
  • South Africa (Bank EFT) – the rate is 3.9%
  • Card Payments (visa/MasterCard) – the rate is 4.9%

How it Works

  • To begin with, you are required to create an account by visiting their website. You can follow this link to Sign Up.
  • Once the account has been set up and approved, the next step is creating a merchant account. Remember to follow the procedure correctly and enter valid information about your business.
  • Next, you fill in an approval form.
  • Then subscribe by making a payment through the available payment options.
  • Wait for approval which takes an average of 10mins up to 2 working days depending on the payment mode selected.

Advantages of Dusupay

  • There is no limit to the number of transactions that can be made.
  • After approval of an account, there are no monthly.
  • There is a sign-up bonus of $30.
  • Allows multiple currencies transfer request and offers a multi-currency business account.
  • Easy and efficient – once payment has been accepted, Dusupay transfers them to the mobile wallet.

Disadvantages of Dusupay

  • Only supports a few countries compared to other firms offering payment services, e.g., PayPal and Payoneer.

20. Kyanda

Kyanda is a Kenyan Fintech firm that allows users to pay bills, transfer cash and purchase Airtime at a discount.  It also allows conversion of Airtime into cash or purchase for electricity Tokens.

The App was founded in 2019 by Collins Kathuli, a 19-year-old developer, and operates in Kenya.

Kyanda is not only for personal transactions but also developed to serve business owners such as retailers and kiosks, and others. The main aim is to help them save money through amazingly low transaction costs.

The App focuses on serving people with Smartphones. However, they have a unique feature that allows users with no internet access to enjoy their services.

On the other hand, Kyanda earns its revenue by displaying ads and commissions from cash transactions and Airtime conversion.

Why Kyanda?  

Kyanda offers more than just mobile money transfer services. The App creates a business opportunity for customers and offers them loans. With Kyanda, you can purchase Airtime at discounted prices and resell to earn profits. Also, there are surveys that users can participate in and gather rewards. Subsequently, their loans are instant, and one can borrow up to Ksh. 350,000. However, there are conditions to be met for loan approval.

To start using Kyanda 

Download the App from Google Play Store and sign up to create an account (it’s simple and fast). After the account has been activated, you can deposit money to start your transactions.

Advantages of Kyanda 

  • Kyanda offers low-cost services – users can save up to 70% while using the App compared to other Fintech platforms.
  • Includes a feature that allows users to invest and buy shares from firms registered on the Nairobi Securities Exchange (NSE) using their mobile phones.
  • Allows conversion of excess Airtime into cash and electricity tokens (Stima Tokens)
  • Trusted – Kyanda has good reviews on the Play Store (4.6/5), which indicates trustworthiness.

Disadvantages of Kyanda

  • Only available in Kenya.
  • The App is available for Android phones only; no IOS version.

21. Bitsika

Bitsika is a simple Fintech platform providing fast and easy money transfer and crypto remittance services in selected African countries. The countries include Cameroon, Senegal, Mauritius, Nigeria, Ghana, Mali, and Ivory Coast.

Bitsika was started in 2019 by Atsu Davoh. Since then, it has grown tremendously across West and Central African countries.

The platform enables peer-to-peer transactions at affordable prices. Subsequently, it adopts modern technology through modern cryptocurrency, enabling users to send and receive Bitcoins in their wallets.

Bitsika also supports the payment of bills and online purchases of goods and services. Additionally, with the App, sending and receiving funds in different currencies is possible.

Examples of supported currencies are; US Dollars, Naira, West Africa Franc, Kenyan Shillings, and Ghanaian Cedi. Importantly, you can swap between supported currencies.

How it Works

  • Download the App into your mobile device (Android or IOS).
  • Sign up – you must have an email address.
  • Choose a Personal Identification Number (pin) for security purposes. Create a username, and the account will be activated.
  • The final step is the verification process. This stage is critical since no transaction can be made without completing this process. Details like full name and identification documents are required to verify your account.
  • Now you can deposit money in your Bitsika account from your Bank account or Credit -Debit card and start transacting.

Advantages of Bitsika

  • Offers a virtual card - You can make online payments on websites such as Facebook, Netflix, and others using a virtual visa card generated on Bitsika.
  • It’s secure – they use identity verification to ensure the real user approves transactions. A secret PIN is also used to secure your account.
  • Referral Program – a user is paid $1 for referring someone to join the platform.
  • Affordable – transactions are free up to a stated threshold.

Disadvantages of Bitsika

  • Only available in selected African countries

22. Makeba

Makeba is a Fintech company offering fast, affordable and easy payments and remittance services. The platform was founded in 2006 in the US to mitigate three main problems (high remittance costs, transaction costs, and cost of informal economy) in Africa. The app operates in Cape Verde – a country in the West of Africa and the US.

Makeba supports point-of-sale payments and enables mobile money transfer through applications.  This facilitates individuals and businesses to undertake online business (buy and sell online). Similarly, the company partnered with Banco BAI (a local bank in Cape Verde) to spearhead its customer satisfaction through effective mobile payment, affordable domestic money transfers, airtime purchases, depositing pensions, and payment of taxes. Also, businesses use the platform to track their sales and customize their employee privileges.

Apart from remittance and payment services, Makeba offers extra unique features such as delivering pension via digital transfers through its collaboration with the post office. Subsequently, users can easily make secure online payments through the app, deposit and withdraw cash (at local Makeba merchants and partner bank), pay bills, and purchase airtime. You can also chat with family and friends and securely make requests, and attaching money.

Also, the platform provides digital payment options for Cape Verde Public University students.

How it Works

  • Download and install Makeba Money App (available on Play Store and Apple Store).
  • Sign-up to create an account and get a Makeba wallet.

Note that Makeba offers unique subscription plans. These plans are;

  • Basic plan – this is a free plan with no monthly subscription and charges 1% on transactions.
  • Plus plan – costs $5 per month and offers free transfers of up to $2000 per month.
  • Premium plan – costs $10 per month with a monthly limit of $5000.

For individuals or businesses making several transactions per month, selecting a complimentary subscription can save you on transfer fees.

Advantages of Makeba

  • The platform charges 1% to transfer foreign currency and 0.25% on making payments. The elimination of intermediaries contributes the low payments.
  • It is secure – the app enforces the KYC process to avoid fraud. Similarly, users are required to make explicit approval for any payment or transfer to succeed.
  • They offer incentives to users or merchants who refer new users to the platform.

Disadvantages of Makeba

  • In Africa, the app only operates in one country. Also, the US market has not been well covered by the app.
  • It only supports domestic transactions; it is yet to enable cross-border remittance.
Taptap send

23. Taptap Send

Taptap Send is a remittance application that allows instant and affordable money transfers from Europe to Africa and Asia. The platform allows immigrants from Africa and Asia living in Europe to send money back home at a low cost conveniently.

The company was founded in July 2018 by Michael Faye. It's registered in England and Wales and headquartered in London.

Currently, Taptap send is live in 7 countries in Europe and allows payment to Senegal, Ivory Coast, Mali, Guinea, Ghana, Kenya, Cameroon, Zambia, Madagascar, Bangladesh, Vietnam, and DR Congo.

The firm's primary focus is to create a safe platform for immigrants to send money to family and friends at reduced fees of less than 3%. Subsequently, it helps eliminate expensive traditional money transfer methods that take days to reach the recipient.

Given that the global remittance goes over $500 billion a year and the most significant percentage goes to developing countries, it is paramount to have modern platforms that reduce the burden of high transaction costs. Taptap send comes to address this issue and facilitate remittance across these developing nations.

Taptap send is Venture Capital oriented (VC – backed) and increasing due to its affordability and security.

How it Works

  • Download Taptap Send App from Play Store and Apple Store.
  • Sign-up and enter valid information as required for the account creation.
  • Enter the recipient details (name and mobile number), confirm, and send.

Importantly, Taptap send requires users to validate their accounts. This is a mandatory requirement after a new user makes few transactions to verify ownership and lift limitations. The verification is done by submitting proof of address documents and identification cards (must be original, not photocopies).

Advantages of Taptap Send

  • Convenient – the recipient receives funds instantly straight to their mobile wallets or bank account.
  • Secure – the app is regulated by several financial regulatory bodies in UK and Belgium. Similarly, users have to verify their identity for the account's security.
  • It's easy to use

Disadvantages of Taptap Send

  • It only allows transfers into Africa and Asia but not out of these regions.
  • You can only send money from Europe.
Wakanda messenger

24. Wakanda Messenger / Kemit Kingdom

Wakanda is a unique messaging App that supports social media and empowers end-users with paramount financial requirements to create a global digital ecosystem. This means a messenger that allows users to communicate, earn revenue, and conveniently transfer funds.

Wakanda Messenger was founded in 2019 by the Kemit Kingdom, a Swiss company registered in Neuchatel with offices in Geneva.

The app combines communication services with remittance and payment services for Africans. Wakanda's developer (Kemit Kingdom) partnered with Trust Payments, a reputable tech firm, to make this possible. The partnership has seen the tremendous growth of Wakanda and its relevance in the African market.

The app supports domestic and cross-border transactions in Africa. It developed by Africans for Africa, intending to create independence in e-commerce, boost businesses, and improve the local economy by facilitating job creation.

In addition, Wakanda stands out multiple services such as booking and accepting bookings for a taxi, courier services, food delivery, and handypersons services. These services are available to its users for as low as 1%. The main focus is the mitigation of local challenges and satisfying immigrants' expectations living in the diaspora.

On the other hand, providers of the above services can register with the app and earn revenue by providing them to other Wakanda Messenger users.

Additionally, the app works with local banking institutions, mobile phone operators, and remittance service providers to enhance their services and make them more convenient and affordable.

How it Works

  • Download and install the app (available for Android, iPhone, and Huawei).
  • Sign-up and start a community to gain access to all engagements and enhance growth.
  • You can choose between the available account for convenience:
  • A Standard /Silver Account – it's automatically allocated to new users and has a limit of $250 per month. No KYC is required here.
  • Black Account – an upgrade from the silver account and offers a limit of $20,000 per month.
  • Gold Account – no restrictions and only reserved for corporate customers. It also allows large bank transfer volumes.

Advantages of Wakanda

  • Secure – Wakanda Messenger has undergone a rigorous authentication process to guarantee security. This includes KYC, AML, PSD2, and GDPR standards. It is also Under FINMA supervision.
  • Enhances quality communication – it is a social network developed to meet all needs of Africans. It allows Africans to share ideas, express themselves, discuss and share their cultures.
  • Facilitate job creation improving the lives of many Africans.
  • Transactions around the world are possible via Wakanda wallet.

Disadvantages of Wakanda

  • Includes subscription fee for upgrades

25. SeamPay

SeamPay is a Nigerian Fintech firm that allows its customers to send and receive money efficiently and reliably for free. This startup company was founded in 2020 by Abubaka and Alhassan Mohammed and is registered in England and Wales. It is headquartered in Abuja in Nigeria and focuses on revolutionizing the African payment systems.

With the SeamPay app, you will be able to buy airtime, pay utility bills, buy mobile data, and make payments for goods and services while earning rewards.

With the emerging technologies in the financial market, it’s essential to have more sophisticated ways of money transfer and payments that allow users to quickly and efficiently make daily transactions at very affordable prices. SeamPay comes at the right time to give Africans more advanced options on mobile money transfer and payments replacing the expensive traditional methods such as bank transfers.

Additionally, the firm aims at providing a digital platform Fintech that includes everyone, with no limitations in terms of geographical location or social status.

The startup has a different focus: to be unique from other competitors by incorporating other systems such as payment gateways and partnering with other platforms to accelerate its market timeline. Similarly, they have an MVP model (Minimum Viable Product) to help generate customer feedback to fit within the Fintech market.

Another unique feature about SeamPay is that they have an attractive incentive for their referral program. Customers can refer their friends to join, and both will earn 500 Naira.

How it Works

  • Download and install the SeamPay mobile App – the app has its initial stages therefore not available on Google Play or App Store. You can download the app from their website SeamPay and join their waitlist for early access, referral program and stand a chance to win NGN 100 000.
  • Sign-up details to create your free mobile wallet. To activate the account, you are required to verify your identity through presenting your ID document, i.e., a photo of a valid Passport or Driver’s license, or National ID card (must be the most recent version of the Nigerian National ID card). Verification takes 2-3 working days, and you will be notified through the email you used during sign-up.
  • Upon verification, you can start your transactions.

Advantages of SeamPay

  • Customers earn interest – SeamPay offers cashback and discounts to the clients. You also get points as a reward for using the platforms. These points can be redeemed to buy airtime and pay utility bills such as electricity and TV subscription.
  • Guaranteed security – your data is protected by 256-bit encryption and 3D Secure for more security. Similarly, there is PCI DSS level-1 certification.
  • They have full-time customer support available 24/7 – there is a 24/7 in-app live chat support team available in 4 languages (English, Hausa, Igbo, and Yoruba).

Disadvantages of SeamPay

  • The platform is only available in Nigeria and its early stages.
  • Only allows local transactions (no international money transfers).

26. CowryWise

Cowrywise is a Nigerian Fintech platform offering digital financial/wealth management and planning solutions. The system automatically makes savings and investments for the user, helping them maintain financial discipline while generating interests daily over a specified maturity period.

Cowrywise is currently the leading startup in the savings and investments industry in Nigeria. The Fintech was co-founded by Razaq Ahmed and Edward Popoola in 2016 and is headquartered in Ikeja GRA, Lagos, Nigeria. The initial focus was the telecom industry, but this proved expensive hence they shifted to payment infrastructure.

Their first product was savings. They later partnered with other investors (including United Capital Asset Management, Lotus Capital, Meristem Wealth Management, and others) to allow users to save and invest with as low as $0.25 – 100 Naira no upper limit.

The platforms have no high-cost base like traditional banks. They operate as proprietary technology and make investments on behalf of the customers in risk-free instruments such as DMO (Nigeria Debt Management), CBN (Central Bank of Nigeria), and other low-risk opportunities such as Corporate Bonds.

In return, they save on cost, guarantying customers higher returns. This means that Nigerians can enjoy a flexible, risk-free, and wealth-generating tool. Importantly, Cowrywise helps you manage your funds and have significant control of your future finances.

How it Works

  • To access investments and savings services on Cowrywise, visit their website and create an account.
  •  However, for the best experience, you are recommended to use their mobile app. Download the app from Google Play/App Store and follow the sign-up process. If you had created an account on their website, you need to sign in.
  • To invest, log in to your account, navigate the available investment options, select your best fit, fund the account, and purchase the investment units. Similarly, you can make savings by selecting one of the available savings packages.
  • The interest rates run from 5% to 12% pa. These rates are affected by the company’s investments and current market rates.

Note that your initial plan’s rate will not change till the maturity of your plan.

  • Additionally, the Cowrywise app has an e-wallet called Cowrywise Stash, a cash pool for in and out transfers using a card. It’s also where you receive matured savings and the interests from your investments.

Advantages of Cowrywise

  • It’s highly secured – Cowrywise uses PCI DSS payment process and 2FA authentication security. Similarly, it is registered with the Security and Exchange Commission and Meristem Trustees, where they keep their assets secure.
  • Attractive interest rates (5%-14%), which high compared to what banks offer
  • User-friendly and fast app – their app is well optimized to ensure users have the best experience.

Disadvantages of Cowrywise

  • The platform seems to best suit those who are financially stable – it’s a wealth-generating tool for the wealthy.

27. Nala

NALA is a unique mobile money app that enables users to send and receive money easily, fast, and securely, both online and offline. Yes, you can use it without an internet connection; unlike other mobile money applications, Nala allows you to transact and access all your financial information without an internet connection.

The company was founded in 2017 by Benjamin Fernandes, a Tanzanian who had a vision of revolutionizing money transfer and payments in Africa.

Considering that many Africans have limited or no access to reliable internet connections, Fernandes embarked on finding a simpler way to enable people in his native continent to access money transfer services without the need for data connection. This is how Nala was born, which acts as an interface embedded on other payment platforms to enable users to make payments and transact without data/internet connectivity.

NALA is available in the UK and East African countries (Kenya, Uganda, and Tanzania). The interface allows migrates from East Africa to the UK to send money back home ‘hassle-free. Subsequently, Africans experience high costs when transferring money from one mobile account carrier to another (between 15% and 20%). However, Nala allows users to access all services under one platform, thus minimizing these transaction fees.  

How to use Nala

  • To use Nala, you must be a resident of the UK or other countries approved by the company. You must download the app, Android, or iPhone, then register by providing the correct personal information, including a valid photo of a Government-issued Identification card.
  • After opening an account, you get an E-wallet where you can receive or send money, make payments, link with your card or UK bank account.

Advantages of NALA

  • You can use the services while offline. This saves on data consumption, making it cost-effective.
  • The platform is secure – they use standard encryptions and fraud detection to enhance security.
  • They are fast – they have real-time payments arrival. Money transfers are instant.
  • Affordable – Nala has no hidden fees and provides affordable rates and attractive exchange rates.
  • Reliable support team – you can reach customer service at any time for free.

Disadvantages of NALA

  • You can only send money to but not out of East Africa
  • Only supports sending money from the UK. Subsequently, it supports sending to only three countries in Africa.

28. Wari.com

Wari is a global digital platform that offers financial and commercial services at a low cost. The firm goes beyond money transfer services to airtime purchase, insurance services, bill payment, and credit and Taxi services. 

Wari was founded in 2008 and is headquartered in Dakar, Senegal. The company has over 700,000 service points and is available in over 60 countries globally. This Fintech offers both domestic and international money transfer services across supported nations. Wari helps you pay suppliers, employees, partners, and freelancers in an easy and very secure way for local transactions. Subsequently, the Fintech provides a solution to low-cost and fast international transfers through; the mobile app, website, card, ATMs, Cash pick-up points, and terminals in-store.

To ensure flawless services to their users, Wari partnered with over 150 organizations globally. These include reputable firms such as MasterCard, DStv, WhatsApp, Ecobank, WorldRemit, Orabank, TransferTo, and others. Their recent partnership with Lycaremit, a multinational global leader in remittance, takes the company to higher global coverage. Additionally, the partnership grants Lycaremit users access to low-cost transactions and a secure network by Wari across 30 African countries.

You can access Wari services through WhatsApp, Facebook Messenger, their Website, Wari App, and their Service Points across supported countries globally.

One can also register for the Point of Service if you own a shop, store, or small business in the supported regions.

Advantages of Wari.com

  • Wari is available in 4 different languages – English, Italian, Spanish and Portuguese. This makes communication easy and effective. Additionally, there are plans to include Russian and Arabic languages.
  •  Easy accessibility – Wari has partnered with platforms such as WhatsApp and Facebook Messenger to improve the accessibility of their services. Subsequently, their other partners such as DStv, banks, and payment platforms help users make payments fast and securely.
  • Provide a highly secure network – the platform has over 150 partners worldwide, which backs up their legitimacy and trustworthiness.  
  • Creates job opportunities across Africa, Asia, Europe, and America; small business owners can boost their income by joining the Point of Service platform.

Disadvantages of Wari.com

  • No explicit mention of fees and costs of using their services

Money Transfer Services: Conclusion

Modern communication technology is having a huge impact on Africa. It is also allowing residents in remote areas of Africa to access simple banking services securely.

Just two decades ago, receiving funds was costly and it often resulted in losses. The fees of as high as 15% were also a major issue. However, the few startups mentioned above are changing the story of Africa. They allow people in Africa to receive funds securely and with ease.

Money remittances have been shown to have a much greater impact on alleviating poverty for developing nations than aid. While the fees have gone down, they could still go down more. 

Besides that, these apps all rely on communication technology, which is still lacking in some areas of Africa. 

There is also the issue of technology literacy. Some receivers still require the service of a technologically literate person to login to the app and receive the funds. 

However, these are all surmountable odds that can be handled with ease. 

Another issue that needs to be handled is the legal protection for the app users. With some many apps being launched, there is the risk of the space being high jacked by scammers.

The money you make is hard earned and you need to know that the money transfer services you access are trustworthy, with iron clad security to keep your financial transactions secure.

Financial services apps have harnessed technological advances to best serve the modern worker, and they are perfect to meet the needs of people like you who work overseas and need to get money to every corner of the globe quickly and easily.

Banking apps help keep you in control of your money without hitting you with high fees and are super convenient.

Don't hesitate to download your app today to take your financial transactions up to the next level, and make your work life just that bit easier.

For further information, check our detailed descriptions of the money transfer service roviders: 

Now it's your turn

Tell me:

Do you use one of these money transfer services?

Is one missing?

Which money transfer service is your favorite one? And why?

Just leave me a comment below.

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  1. it has been a good article, thank you for shairing, I will also enscourage others to check on it. Kudos!

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