In this article, we shall be showing you how to send money to Nigeria from US using wave. Wave is a mobile applications developed by Drew Durbin and Lincoln Quirk, two engineers from Brown University and Harvard University who love and live in Africa. And like other Bank Applications, wave can be used to transfer money from one country to another. The Chief Compliance Officer, Michael Luebbert, used to run compliance at Western Union and CitiBank.
Why Use Wave Application
Wave’s application came to be 2014 when Drew, one of the founders, got fed up going to store to send money to an NGO he’s running in Africa (Tanzania) and paying 10% extra for the transfer. So, he teamed up with Lincoln to build Wave, an app that let users send money instantly from their smartphone to their recipient’s mobile money account in Kenya and other African countries. But started with Kenya and now in other 5 African Countries, Nigeria inclusive.
How does Wave work?
Wave allows you to quickly send money from your smartphone to banks in Nigeria without fees. After downloading the app and creating an account, just enter your recipient’s bank info, choose how much money you want to transfer and press ‘Next.’ Your recipient will receive the money on their account shorty thereafter. Transactions usually reflect on your recipient’s account in a matter of minutes, but in rare cases they can take up to 48 business hours to deposit.
How to send money to Nigeria from US using wave
To send money to Nigeria using wave, download the app from your play store and register with your debit card and not credit card.
How Much does wave charge for a transfer?
Wave charges no fees, saving you tons of money each time you send! We just make a small percentage on the exchange rate that you see on the main page of the app.
How secure is Wave?
Wave takes the security of your personal data extremely seriously. They encode all data as soon as it is entered in the app and send it over an encrypted 128-bit connection.
How do I know my funds are safe?
Wave is licensed in every country they operate in as a money transmitter business. Plus, because they send the money instantly, your funds aren’t stored in their bank accounts, but moved instantly to your recipient’s mobile wallet!
How do I add a new recipient?
Click in the ‘To’ field, begin typing and scroll down to ‘New Recipient.’ Then enter your recipient’s full legal name and their phone number and click ‘Save.’
How do I verify my email?
You should get an email from wave with a link to click to be sure they have the right contact info. If not, please check in the ‘Personal Info’ section of the app to make sure your email address is correct and update it if not to get their email. If you still don’t see it, please check in Spam or search for ‘Wave’ in your email.
How much money can I send?
Due to banking regulations in the US and UK, you can initially send a maximum of $999/£750 per day and $2,999/£2500 per month. They can easily raise those limits to $3,000/£2500 per day and $12,000/£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!
How do I use a new card?
Go into ‘Payment Info’, delete the card that is in there and then input and save your new card – now you’re set!
Can I use a credit card or PayPal?
No. We only accept debit cards because they charge us lower fees, which allows us to pass those savings onto you!
What does ‘Card Error’ mean?
This often just means you don’t have good enough internet service to save your card, or the app needs to be upgraded to the latest version from the App Store/Play Store.
How long does my refund take?
This depends on your bank’s relationship with our debit card processor – some refunds can be processed immediately but others can take up to 10 business days.
How does SMS Login work?
If you turn on SMS login from the Settings/Me page, you will be texted an SMS verification code to your mobile anytime you log into Wave. This two-factor authentication provides an extra layer of security for your Wave account.
Which Nigerian banks do wave send money to?
All of them.
For now, you can only send money to Nigeria from US. for more information, visit their website HERE
Wave mobile app: Transfer money to Africa.
You can download the wave mobile app from your play store