With new money transfer options popping up seemingly by the day, it is now harder than ever to find the right money transfer service for you.
SendWave has emerged as a notable player offering a streamlined and efficient way to send money across borders. This comprehensive review and guide will delve into the intricacies of SendWave Money Transfer, exploring its unique features, costs, limits, transfer speed, security, and providing a step-by-step guide for users.
SendWave is a mobile-based money transfer service designed to facilitate seamless and cost-effective international transfers. What sets SendWave apart is its focus on simplicity and affordability. Unlike traditional remittance services, SendWave operates primarily through mobile applications, allowing users to send money with just a few taps on their smartphones.
You can access SendWave’s money transfer services through the SendWave money transfer app. While they do have a website, you cannot handle transfer details from anywhere but the mobile application.
SendWave serves an intimate list of countries. Here is a list of some of the SendWave Money Transfer serviceable countries:
To view a complete list of countries that SendWave serves, navigate to “Countries” page on the SendWave website. There, you will see a list of the countries that SendWave services along with which countries you can send money from.
Sendwave applies no or minimal fees across all the markets it serves, resulting in substantial savings for users with every transaction. In nations where no fees are applicable, such as Ghana, Kenya, Tanzania, Uganda, and Bangladesh, the platform generates revenue through a modest percentage on the displayed exchange rate featured on the app's main page. Conversely, for countries like Liberia, where fees are implemented, Sendwave works hard to maintain low rates, prioritizing affordability for users wanting to transfer money.
For certain countries, SendWave does apply a small fee due to country regulations. Sendwave imposes a fee of 3% of the sent amount or a maximum fee of 6 USD/CAD/EUR/GBP, whichever is less, for transfers from the USA to Liberia. It is noteworthy that MTN withdrawal fees are not covered by Sendwave during the transaction; these fees apply only if users opt to withdraw the funds from their wallet.
Every sender is subject to maximum limits on their daily and monthly sending capacities, referred to as sending limits.
Users can access information about their daily and monthly sending limits, along with their usage details, by navigating to the Menu and selecting My Limits. If the sender is based in the US, UK, or EU, no action is required to increase sending limits, as they will be automatically elevated once the sender becomes eligible.
For senders in Canada, the process involves making a request for higher sending limits through the My Limits page once eligibility is achieved. Subsequently, the Sendwave team will review the request and respond as promptly as possible. It is important to note that, in accordance with Thailand's domestic regulations, transfers are limited to a maximum of 50,000 THB per transaction.
SendWave prides itself on providing quick and efficient money transfers. Utilizing the Sendwave app, individuals have the capability to expeditiously send funds from Visa or MasterCard debit cards and PostePay cards in Italy, as well as Correos cards in Spain. The platform allows you to transfer to mobile wallets and bank accounts across various countries; for specific details, users are encouraged to refer to the respective country pages.
The exact transfer speed may vary depending on factors such as the chosen payment method, destination country, and potential security checks. In general, SendWave aims to deliver funds to recipients as swiftly as possible, often within minutes.
Security is a top priority for SendWave. The platform employs robust encryption measures to protect users' personal and financial information. Additionally, SendWave adheres to regulatory standards and collaborates with financial institutions to ensure compliance with international money transfer regulations. While no system is entirely risk-free, SendWave's commitment to security is reassuring for users.
Now for the biggest question you must have: how does SendWave work?
Transferring money with SendWave is a straightforward process. Users can initiate transfers online through SendWave’s user-friendly mobile app. The process involves entering the recipient’s details, selecting the desired delivery method (cash pickup, bank deposit, mobile wallet, etc.), and choosing the payment method. SendWave accepts various payment options, including credit/debit cards and bank transfers, making it convenient for users to fund their transactions.
Here's a step-by-step guide from start to finish:
SendWave offers various ways to contact SendWave customer service for assistance or inquiries.
SendWave has a comprehensive help center/FAQ section on their website. This resource can provide answers to many common questions and guide you through various aspects of using their service.
Still need help with SendWave? Reach out to their team through their email or call the number coordinating to the country you are calling from.
Based on our research of customer reviews and comparison to other remittance providers, the pros of the SendWave money transfer service are:
Based on our research of customer reviews and comparison to other remittance providers, the cons of the SendWave service are:
If you’re looking for an alternative to SendWave’s remittance service, here are some top remittance providers we recommend that offers low fees, excellent exchange rates, and are easy to use:
Need more assurance about SendWave? Is SendWave money transfer legit? Let’s see what users of SendWave have to say.
Sourced from multiple platforms, customer reviews of SendWave are:
SendWave scores an “Excellent” rating on TrustPilot with a TrustScore of 4.5 out of 5.
“Had a great experience so far with Sendwave,I was really impressed when I found a mistake in one of my transactions,called Sendwave customer service and they refunded me a transaction that was already paid. Well done Sendwave team” - Martial on TrustPilot
“I can’t think of any money transfer service as efficient and convenient as wave. Wave made my life so easy and my family can trust that I will be there for them whenever they need my financial assistance even if it’s 3am in the morning. And better still, they do not have to deal with the long cues, and cashiers having bad days. The customer service is exceptional, keeping me posted about the status of my transactions and following through till the funds are successfully transferred.” - Gorrety Pam on Apple App Store
Negative reviews pertain to issues with SendWave Money Transfer having delays when servicing to and from Ghana due to country regulations.
SendWave Money stands out as a reliable and user-friendly solution for international money transfers. With competitive pricing, fast transactions, and a commitment to security, it caters to the needs of a diverse user base. While some limitations exist, particularly in terms of transfer limits and country availability, SendWave remains a compelling choice for those seeking a convenient and trustworthy means of sending money across borders. As with any financial service, users are encouraged to review specific details and ensure compliance with local regulations before initiating transactions.
We invite you to compare remittance providers using CompareRemit’s comparison tool today to find the best rates, lowest fees, and fastest turnaround times for your specific destination and transfer amount.