Moving and Holding Money

1. What are the transaction limits in a day?

On the banking side, if an account is less than 30 days old, the daily amount per sender cannot exceed $500. If an account has been open greater than 30 days but less than 60 days, then the daily limit is up to $1,000 and if an account is older than 60 days, the daily sending limit is up to $5,000.

On the remittance side, we are yet to establish the limits.

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 much money as you want in your account!

5. Which transactions does Waya support?

The Waya app currently supports following transaction types:

  • Waya to Waya transfers which are peer to peer (P2P) transfers.
  • Waya to Your Own linked account transfers (ACH)
  • Waya to External Bank transfers (ACH).
  • International Remittance Transfers.


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

Absolutely! 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, we will notify you if this option becomes available.

8. Does Waya Give Loans?

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

Go Back to FAQs

Banking Simplified

Looking for a better way to bank? You're at the right place.
It's simple, download Waya and open an account in minutes.
Get Waya