Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Last updated:
The Sendwave (formerly 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, Nigeria or Tanzania.
| Product name | Sendwave |
| Minimum transfer | $1 |
| Maximum transfer | $999 a day; $2,999 a month |
| Transfer methods | Bank debit card |
| Transfer options | N/A |
| Delivery speed | Instant |
| Banking partner | N/A |
| Available currencies | KES, UGX, GHS, TZS, NGN |
| Fees and exchange rates | No transaction fees; exchange rate markup of 2% to 3.5% |
| Customer service options | Text, phone |
Sendwave 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.
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 Sendwave, you cut out the fee altogether.
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 Sendwave advertised at the time of this writing:
| Mid-market rate | Sendwave’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% |
According to the mid-market rate, 1 USD is worth 102.92 Kenyan shilling (KES). Yet when you transfer through Sendwave, 1 USD is worth 99.97 KES.
Here’s what that looks like when sending $100:
Sendwave profits the difference of 295 KES — or about $2.80.
Sendwave supports only debit card payments to mobile money accounts in Africa. You can send as little as $1 through Sendwave to Kenya, Uganda, Ghana and Tanzania and Nigeria.
At the time of writing, Sendwave supports transferring your cash to M-Pesa, MTN and Airtel mobile money accounts, with plans to add others as it expands into other countries.
Download the Sendwave 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.
Once the recipient receives your transfer, Sendwave emails you confirmation. And you’ll see your transfer marked Funds Delivered in the app’s transaction tab.
Sendwave 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.
To get started with Sendwave, 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.
Sendwave 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.
I’m in Libya. I am interested in Sendwave. How can I apply for it?
Hi Tosin,
Thanks for contacting Finder. I hope you are well.
It’s good to know that you are looking to use Sendwave to transfer money. It’s helpful to know that at this time, Sendwave is only available in Kenya, Uganda, Ghana, Nigeria or Tanzania. In the meantime, I highly suggest finding local money transfer providers in Libya.
Just a quick reminder when sending money – read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations for the receiver. Take note of any reference or tracking numbers should any transaction delays come up during the transit. Also, it’s important to check the exchange rate beforehand to maximize the funds to be exchanged.
Kindly note that exchange rates vary on a daily basis, the rate today may differ from the rate tomorrow. Observe the fluctuations of exchange rates more frequently days before you exchange your money.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
I want to send money to an account wave.
Hi Mary,
Thanks for your comment and I hope you are doing well.
To be able to send money via Wave, download the app on your mobile device. Then sign up for an account and enter your recipient’s contact details to send money.
“When sending money – read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations for the receiver. Take note of any reference or tracking numbers should any transaction delays come up during the transit.
Also, it’s important to check the exchange rate beforehand to maximize the funds to be exchanged. A friendly reminder, exchange rates vary on a daily basis, the rate today may differ from the rate tomorrow. Observe the fluctuations of exchange rates more frequently days before you exchange your money.”
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
Hi Glory,
Thanks for getting in touch! Yes, the Wave app works in Nigeria and you can send and receive money using the app.
Hope this helps!
Best,
Nikki
using wave app for transactions, do i have to keep taking a snapshot of my identity card for every future transactions?
Let me know please…
Hi Stephen,
Thanks for your inquiry.
Wave money transfer doesn’t require an ID or identification card for every money transfer transaction. To use Wave money transfer app, just simply 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.
I hope this helps.
Kind regards,
Bella
How can I sign up for Wave in Ghana?
Hi Jonathan,
Thank you for getting in touch with Finder.
You need to download Wave app from Apple store or Google Play store then you may register for a free account.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Hello,
Money was sent to my M-Pesa account in Tanzania but I didn’t receive it till now what might be a problem? Or how long does the money take to reach an account?
Hi Aisha,
Thank you for getting in touch with Finder.
Currently, we do not have a page that you may refer to about M-Pesa app however Wave doesn’t transfer to M-Pesa as of the moment. You may receive money on your M-Pesa app from all mobile networks in Tanzania and only via Western Union, MoneyGram and Safaricom from across the world. I suggest that you speak with your sender on how the fund was sent to your M-Pesa account.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Money was sent to Nigeria by using wave and they ask for stamped passport they want to confirm the recipient has been to state before which he did not have
Hi Lisa,
Thanks for getting in touch with Finder! Wave asks for a government ID photo when the money sent is beyond the maximum transfer limits. Due to banking regulations, you can initially send a maximum of $999/£750/€750 per day and $2,999/£2,500/€2,500 per month. Wave can easily raise those limits to $2,999/£2,500/€2,500 per day and $12,000/£10,000/€10,000 per month if you are able to send them a government ID photo. You can do this through the app by pressing ‘Raise Limits’ on the settings page.
You can confirm this information when you contact Wave through their 24/7 phone service or by emailing them. You can find their contact details on their main website.
Hope this was helpful. Don’t hesitate to message us back if you have other questions.
With care,
Nikki
How can I get a refund? My money didn’t send to the recipient and I want a refund to get the money I sent back to my account?
Hi Akinbolawa,
Thanks for your inquiry.
If the funds have not yet been delivered to your recipient’s mobile wallet, you can call Wave money transfer to get a refund for the transfer. The refund process would depend on your bank’s relationship with Wave money transfer debit card processor – some refunds can be processed immediately but others can take up to 10 business days.
Hope this helps.
Have a wonderful day!
Regards,
Ellie
My brother tried sending money from U.S to me in Ghana but was called to ask if he had met me in person or he knows me…. Because of that wave didn’t accept his transcation.
Hi Frank,
Thanks for reaching out to Finder! We’re sorry to hear Wave wasn’t an option to send money to Ghana. You can go to this page to find other options. When sending money – it’s important to check the exchange rate beforehand to maximize the funds to be exchanged. Also, read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations for the receiver. Take note of any reference or tracking numbers should any transaction delays come up during the transit. Hope this helps and feel free to email back if you have questions.
Best,
Nikki
How can I receive $5000 through the Wave? Do I have to use multiple debit cards?
Hi Pascal,
Thank you for reaching out.
I’m afraid Wave has a limit of $2,999 per month. No need to use multiple debit cards to receive an amount more than your limit. You can request to increase your limit by contacting Wave and providing them your government ID. They will then review your processing history or such amount designated by their processor. The Reserve may be raised, reduced or removed at any time by Wave or the Bank, in their sole discretion.
Hope this helps.
Kind Regards,
Mai