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Sendwave review
A free way to send money to select African and Asian countries in 30 seconds.
Enjoy straightforward transfers through a mobile app with the only cost being a small markup on the exchange rate.
- Exchange rate markups as low as 1%.
- Must pay by debit card. No credit card or PayPal transactions allowed.
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$1
Minimum Transfer Amount
$2999
Maximum Transfer Amount
Why should I use Sendwave?
- Send money on the go.
Manage all of your Sendwave money transfers through the Sendwave app, at home or on the go. - Easy signup.
To get started all you need to submit is your name, email and phone number. - Low minimum transfer limit.
Transfer as little as $1 to most destinations. - Quick transfers.
Transfers are nearly instantaneous, according to Sendwave.
What should I watch out for?
- Limited sending destinations.
Sendwave is only available for transfers to around 20 countries countries in Africa, Asia and the Americas. - Limited payment options.
Sendwave only accepts payment by debit card when sending from the US. - Only for mobile.
Sendwave transfers must be sent through your phone, transfers cannot be sent through the Sendwave website.
How does Sendwave work?
Sendwave works by allowing you to send money from a debit card to select countries abroad. You sign up for the app, enter sending and payment details and then send money at your leisure.
Sendwave doesn’t charge transfer fees. Instead, it makes money by offering you slightly worse than the mid-market rate when you exchange currency.
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 and only have to worry about the exchange rate.
Sendwave’s exchange rates and fees
Depending on your recipient’s currency, you’ll see a spread on the mid-market rate that appears to top out at about 4.1%.
To give you an idea of what you could pay on the exchange rate, here are Sendwave’s advertised exchange rates as of March 17, 2023.
| Mid-market rate | Sendwave’s exchange rate | Markup | |
|---|---|---|---|
| Bangladesh | 107.16 | 113.76 | 1.44% |
| Ghana | 12.43 | 11.92 | 4.10% |
| Kenya | 130.08 | 128.07 | 1.54% |
| Philippines | 54.68 | 53.81 | 1.59% |
What does this mean?
According to the mid-market rate, 1 USD is worth 130.08 Kenyan shilling (KES). Yet when you transfer through Sendwave, 1 USD is worth 128.07 KES.
Here’s what that looks like when sending $100:
- Your money is actually worth $100 x 130.08 = 13,008 KES.
- Instead, your recipient receives $100 x 128.07 = 12,807 KES.
Sendwave makes a profit from the difference of 201 KES — or about $1.54.
How long does a Sendwave money transfer take?
Sendwave money transfers are typically delivered within 30 seconds to your recipient’s mobile wallet. Transfers can take longer if you’re sending money for cash pickup, so double-check delivery speeds before sending if time is crucial.
What are Sendwave’s sending limits?
Sendwave’s sending limits for new customers start out at:
- $999 per day.
- $2,999 per month.
If you verify your account with Sendwave using a government-issued ID, limits can be raised to:
- $2,999 per day.
- $12,000 per month.
What currencies can I send with Sendwave?
When sending from the US, Sendwave supports transfers to seven destinations. Supported countries and associated currencies include:
- Bangladesh (BDT)
- Ghana (GHG)
- Kenya (KSH)
- Nigeria (NGN)
- Senegal (CFA/XOF)
- Tanzania (TSH)
- Uganda (UGX)
Is Sendwave safe to use?
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. Additionally, Sendwave doesn’t hold any of your money in its own bank accounts, all money is instantly moved to your recipient.
What payment methods does Sendwave accept?
When sending from the US, debit cards are the only accepted form of payment for Sendwave transfers. Sendwave says it doesn’t accept credit card or PayPal payments in order to keep costs down.
What are the ways I can send money with Sendwave?
Sendwave allows transfers to mobile wallets like M-Pesa, MTN and Airtel, bank accounts and cash pickup locations. Delivery methods depend on the country you are sending to, and include:
Mobile wallets
- Kenya
- Uganda
- Tanzania
- Ghana
- Senegal
- Liberia
Bank accounts
- Kenya
- Uganda
- Nigeria
Cash pickup locations
- Senegal
Note: Not all sending destinations are supported for transfers outbound from the US at this time..
How to send money with Sendwave
You can start sending money immediately — simply enter your recipient’s name and phone number.
- Download the Sendwave app for iOS or Android and register for a free account.
- Enter debit card information.
- Verify your identity.
- Enter recipient name and phone number.
- Send.
Sendwave app
Sendwave has an app on both Google Play and the App Store. The app makes it possible to:
- Signup in minutes. Creating your account typically takes only a few minutes using an email and phone number.
- Track orders. Get real-time status updates on your transfer so you’ll know exactly when it will arrive.
- Send money on the go. Sending money through Sendwave is as easy as sending a text message.
| Ratings accurate as of March 2023 | |
|---|---|
| Google Play Store | 4.5 out of 5 — based on 32,210 customer ratings |
| Apple App Store | 4.6 out of 5 — based on 14,509 customer ratings |
More on the best money transfer apps
How do I track my Sendwave transfer?
Once the recipient receives your transfer, Sendwave emails you confirmation. Also, you’ll see your transfer marked Funds Delivered in the app’s transaction tab. If the transaction runs into any issues Sendwave will contact you to sort it out.
How does Sendwave compare to other services?
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 20 of 20
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Want to compare Sendwave with other services side-by-side?
Bottom line
Sendwave is a straightforward way to send money to select African countries that other money transfer providers don’t serve. Sendwave’s clear markups and no fees structure makes understanding the cost of your transfer easy, and money can be sent on the go from your phone at any time.
Frequently asked questions
Can I cancel a Sendwave transaction?
Yes, as long as the funds haven’t been delivered yet. Because Sendwave sends fast transactions, canceling may be difficult even if you do it immediately after sending. To cancel, select the transaction in the Sendwave app and choose Cancel.
How do I contact Sendwave’s customer support?
Customer support information can be found in the Sendwave app. The app also allows you to call or text customer support, whichever is easier for you.
Why can’t I use a credit card or PayPal with Sendwave?
Sendwave has chosen not to accept credit cards or PayPal because both options cost the company processing fees. According to the company, accepting only debit cards allows it to keep costs low and pass savings on to customers.
Sendwave is not currently available on Finder
Have you considered Currencies Direct?
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
- Transparent exchange rates
- Range of tools to manage currency risk
- $2,000 minimum transfer amount
- 24 hour transfer speed
Ask an expert
79 Comments
December 1, 2020
It asked for me to upload a copy of my ID. I don’t see that listed in your instruction. I’ve never hear of sharing my ID and my credit card information on a site.
December 1, 2020
Hi La Toya,
Thank you for reaching out.
I’ve reviewed Sendwave’s current signup policies and updated our instructions accordingly, I appreciate you bringing this to my attention. It is common for a money transfer business to request your ID, as these businesses often have to verify your information to comply with AML (Anti money laundering) laws in the US.
I hope this helps clear things up.
Regards,
Zak
March 26, 2020
I’m in Libya. I am interested in Sendwave. How can I apply for it?
March 27, 2020
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
February 10, 2020
I want to send money to an account wave.
February 10, 2020
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
July 19, 2019
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
May 16, 2019
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…
May 17, 2019
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