Moving and Holding Money Questions

1. What are the transaction limits in a day?

On the banking side we do not have any limits but the limits might apply on the remittance side however we are yet to establish that.

2. Are there any hidden fees attached?

At Waya, we draw lines to fund fees. We take our promise to deliver honest and straightforward service seriously, and we describe all fees upfront. Whenever you make a transfer with Waya, you can be certain that no hidden or unexpected charges will be applied.

3. Why is my transaction on hold?

A hold can be placed on your checking account for a variety of reasons. Usually, a bank places a hold on a check or deposit you make into your account. The bank will do this to ensure the funds clear before they are made available in your account.  A hold is put in place to protect you as much as it protects the bank as you may be required to provide a little more information about a transaction, your business or your account activity.

4. Is there a minimum or maximum balance with Waya?

We do not have a minimum balance requirement nor charge you to maintain a minimum balance, so you need not worry about maintaining one. As for the maximum balance, you can deposit or hold as many funds as you want in your account!

5. Which transactions does Waya support?

Waya app supports various transaction types;

  • Waya to Waya.
  • Peer-to-peer transactions. We support transfers from one Waya user to another. 
  • Consumer-to-business transactions. Waya facilitates the transfer of funds between a customer and a business, such as in the case when buying clothing online or paying for something in a store.
  • Business-to-consumer. With Waya, businesses may conduct transactions with their customers, individuals, or other small businesses more easily. Refunds and rebates are two prime instances of B2C transactions.
  • Business-to-business. Transfers from one business to another can be done using Waya.

6. Can a customer send money to themselves on the Waya App?

Absolutely and this is known as a Waya to Waya Transfer.

7. How do I upgrade from tier 1 to tier 2 of sending money?

Currently, the app does not support such upgrades. However, be sure to be notified if that is set up.

8. Does Waya Give Loans?

At the moment, Waya does not give loans but it is a future consideration.

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