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Sendwave Review, Exchange Rates, Fees Calculator & User Score

  • Fees and costs: Average
  • Transfer speed: Very Good
  • Safety and reliability: Average
  • Customer satisfaction: Good


  • Well-designed app
  • No transfer costs
  • Money arrive within 30 seconds


  • Limited amount of supported countries and currencies
  • Low daily and monthly transaction limits
  • High margin on the exchange rates

1 users would recommend it

0 users wouldn’t recommend it

What is Sendwave?

Sendway is a money transfer mobile app focused on providing cheap remittance from Europe and North America to African countries. Their primary goal is to make money transfer as easy and affordable as sending an SMS.

You can send money to Kenya, Uganda, Tanzania, Ghana, Nigeria, and Senegal. Depending on the transfer method your recipient can receive the money even as soon as after 30 seconds. The transfer can be made directly to someone’s bank account, but also mobile and online wallets or particular cash pickup locations. The transfer itself is free of charge, as the company makes money on the difference in exchange rates.

The project is operated by Chime Inc. which is a regulated and authorized mobile banking company. The app can be downloaded for free on AppStore for iOS and GooglePlay for Android smartphones.

How Does Sendwave Work?

Download Sendwave mobile app, get your phone number verified and you will be able to send money to African countries just like a text message. Choose your recipient’s banking information or even just their phone number, type in the amount and the transfer is ordered with a literally few clicks.

The app is well-designed and easy to use. If your recipient has an online wallet, he will receive the transfer just after 30 seconds.

They let you send money from the USA, UK, Canada, France, Italy, Spain or Ireland to Kenya, Uganda, Tanzania, Ghana, Nigeria, and Senegal.

There are no charges for the transfer itself. The company benefits from the difference in exchange rates on your currency conversion, which allows them to provide cheaper transfers. However, keep in mind that the markup on the exchange rates can make some bigger transfers quite expensive. 

Sendwave Fees and Costs

A money transfer to Africa with Sendwave is free of charge. However, there is a markup on the exchange rates, which may add up to the total costs.

Sendwave Exchange Rate

As the transfer itself is free of charge, Sendwave puts their margin on the exchange rates to make profits. Therefore, one should expect around 2%-5% worse rates than the official ones. 

What does it mean in practice? Let’s say that currently 1GBP is worth 480NGN (Nigerian Nairas). This means that if you send 100GBP your recipient should receive 48000NGN. However, if the remittance company puts their own margin on the exchange rates, they can set that 1GBP is for example equal to 450NGN. Now, the 100GBP transfer turns out to only 45000NGN. Even though you haven’t paid any fees, your recipient got 3000NGN less than he was supposed to. 

Before sending money internationally with them it’s best to quickly check the current rates of your desired currency pair to learn how much the transfer will really cost you. A quick Google search should do the job.

Sendwave Limits

With Sendwave money transfer app you can send a maximum of $999 per day and $2999 per month. If you pass an additional verification and send them a copy of your ID and in some cases other required documentation you can raise the limits to $2999 per day and $12000 per month. It can be requested via the app in the settings panel.

Sendwave compared to wire transfer and banks

It’s hard to compare the Sendwave app to regular bank transfers, as it operates on a limited scale. However, it is significantly cheaper to send money to Africa with Sendwave than with a regular international bank wire, judging by the offer from most popular mainstream banks. On the downside, Sendwave accepts only a few currency pairs and has rather low maximum transaction limits. Therefore, it seems more suitable as a tool for frequent and quick money transfers on the go, as it is very easy to send money with them.

How to use Sendwave?

All you have to do is download the mobile app from AppStore if you have Apple’s iOS or from GooglePlay for Android devices. Sign up within the app. Then, add your recipients information to the list and if they have online wallets installed, you will be able to send them money using only their phone number. The process looks almost identical to sending an SMS. The transfer is free and the current exchange rates will be displayed on the screen.

How to sign up?

Download the app and follow the instructions within the app. You will get an SMS verification code to finalize the process.

Is Sendwave safe and reliable?


Sendwave project is operated by Chime Inc. which is an online banking company, part of the  fully regulated and authorized to handle money transactions in the US, Canada, the UK and the EU. The user's information is protected with a 128-bit encryption. Moreover, as the money is being transferred instantly they don’t even store it in their bank accounts, but directly redirect it to your recipient. 


The general feedback about Sendwave app seems to be positive. The app works without any significant problems and there aren’t any notable bugs or glitches that affect money transfers. The majority of users manage to send money regularly and as easily as sending a text message.

Some users point out the unfavourable exchange rates, however taking into the consideration that there aren’t any additional transfer fees the overall cost isn’t that heavily affected compared to the competition.

“Sendwave is fantastic! Since I started using this app, I always send money to my love once from my bed without going anywhere. I had only one bad experience but that wasn't a big problem because I think it was network problem to the destination. The only thing I have noticed is that their rate is always low compared to the other exchange rate companies simply because they don't charge fee.” ~ writes one of the users in his review on GooglePlay

One user pointed out some privacy concerns regarding the amount of information the app is asking for. However, copy of an ID or other personal documentation is required by most of the remittance platforms, as it’s needed for them to comply with international laws and anti money laundering regulations.

“Don't like that they collect more personal information (like DoB and last 4 of SSN) than other apps like Xoom by PayPal, Rebtel, WU, etc. They also ask you to upload an ID document, which I did. Don't feel comfortable sharing such personal info unnecessarily. I didn't see any privacy statement when the information was being requested. Better have very safe servers if you're going to be collecting and storing people's personal information like that!” ~ 3/5 star review on GooglePlay mobile store

Customer Support

It’s worth noting that Sendwave’s customer support is available 24/7 and in multiple languages. You can contact them via a phone call or by an email. The call center supports English, Spanish, French and Italian language.  

Final Thoughts

Sendwave Review

Sendwave’s mission is to provide affordable and easy money transfers to African countries. Their mobile app is well-designed and setting up transfer is similar to sending a simple text message. You can send money directly to someone’s phone number and the recipient should see it in their mobile wallet within a few seconds. It’s worth noting that the transfer itself is free of charge, however the company puts a margin on the exchange rates. While the currency conversion is not the best on the market, it can be quite competitive when it comes to African destinations. On the downside there aren’t many currencies and countries supported and the monthly transaction limits are quite low. However, people who need to send regularly some smaller amounts to few African countries should enjoy this app.

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