Waya Vs Chime: Which is the Best App for Sending Money Home?
It’s 2023. Sending money home has become faster, easier and cheaper. It’s not as hectic as it was several years ago. Learn the main differences between Waya vs Chime.
People living, working and doing business in the diaspora are also spoilt for choice, because – unlike in the old days when there were only several options available for this valuable service – information technological advancements have led to innovations that have transformed this space.
Still, that means that, for anyone who wants to send money home, it is imperative to know which is the perfect fit for you.
Here are reasons why Waya beats Chime hands-down when it comes to sending money home.
Waya is a multi-currency wallet application
Waya is a multi-currency wallet application. Chime is an online banking app. What does this mean?
The operative word here is wallet. Think about what your wallet does. Think about what’s inside your wallet. Your wallet stores your cash, debit cards, credit cards and other information relating to your finances, which you remove if and when the need arises.
A multi-currency wallet app functions in the same way. It is an app that you can install onto your smartphone. Sometimes, these apps may come already preinstalled or have a built-in feature.
Waya understands the African landscape
Just like the name reads, Waya is a homegrown remittance service designed with the unique needs of African countries and their citizens in mind. Because Waya is homegrown by people who have lived in this beloved continent – which has a unique DNA – they understand the financial and social landscape.
With an understanding of the landscape, Waya offers unique solutions that are tailored to the needs of the African continent. With its comprehensive services and customer-focused approach, Waya is an ideal option for any diasporan looking to send money home.
Waya allows you to transfer money within Ghana, Nigeria and Kenya
Waya is a money transfer service that allows people to send money to their families and friends in Ghana, Nigeria and Kenya. It is a convenient way to send money from one part of the country to another, while also giving users the peace of mind that their money is secure.
The service has several features designed to make it easier for users to send money home, such as no hidden fees, real-time exchange rates, and a secure platform.
With Waya, customers can also keep track of their transactions and receive notifications when money is sent or received.
SEE ALSO: Waya Vs Sendwave: The Best Approach for Sending Money
Waya allows you to make payments across Africa
Waya is a convenient and secure way to send money and make payments across Africa. The Web app and Application Programming Interface (API) also make it easy for businesses to receive payments from customers across the continent.
With the latest security measures in place, you can be sure that your transactions are safe and secure.
Whether you’re an individual sending money home or a business making payments across the continent, Waya is the perfect choice for sending money across Africa.
Waya has no minimum balance
No minimum balance means no stress when you want to send money home. This also means you can send money without having to worry about having a certain amount of money in your account.
Is it the middle of the night and you get an emergency phone call from your folks that your sibling has been sent home from school because of fees arrears? No sweat. Go to your Waya app and take care of that emergency. It’s that simple and stress-free.
Waya stores multi currencies
Having just one currency will limit you, especially if you are doing cross-border business. Multi-currency wallet apps are designed to manage multiple types of currencies, offering users the ability to store, exchange and use funds in multiple currencies.
In contrast, online banking apps are typically limited to a single currency and offer users the ability to manage their finances, such as checking their account balances, making payments, and transferring funds.
With Waya, you can store multiple currencies, so if you’re traveling or carrying out business transactions, you can easily switch between currencies in the app and send money to family and friends in different countries.
Waya offers users more flexibility
Let’s segue from the previous point. Storing multiple currencies gives you more flexibility when it comes to sending money home, as you can use whichever currency works best for you at the touch of a button.
Because Waya offers users the flexibility to manage their finances in multiple currencies, this makes it easy to send money home to friends and family abroad, as you can easily convert your money between different currencies.
Waya offers interoperability
The last thing you need when you are trying to send me is to be frustrated by the multiple hoops you are forced to jump through. Well, Waya is different. With Waya, you can seamlessly send money between banks, digital wallets, mobile money accounts and exchanges.
Waya allows you to transfer money quickly and securely between banks, digital wallets, mobile money accounts, and exchanges. It uses advanced encryption technology to ensure that your money is safe and secure at all times during the transfer process.
The transfer process is also streamlined, allowing you to send money to any destination in the world within seconds.
Waya gets you better exchange rates
When you’re doing business or sending money home, you want the best exchange rates. You want every bang for every buck you send home. Often, especially when you are sending a large amount of money, a low exchange rate can make you feel like you’re being robbed.
Also, as the exchange rates are constantly changing, sending money with Waya assures you that you will always get a better deal, regardless of prevailing economic circumstances.
With Waya, you can access better exchange rates than you would get with most online banking apps, making it a great option for sending money home.
Waya offers to issue refunds
As a Waya merchant, you can issue refunds to customers who have sent money using the Waya app. This refund feature is available exclusively on the Waya web application for merchants, allowing you to quickly and efficiently process refunds for customers.
The web application allows you to easily and accurately manage refunds for customers, making the process of sending money home even more convenient and hassle-free. With the refund feature, you can quickly and easily provide customers with a refund, while still providing them with a safe and secure money transfer service.
This feature is an essential tool for any merchant looking to provide a reliable and secure money transfer service to customers.
Waya has high-net liquidity services providers
You can access our network of high-net financial services providers across Africa through our partners across Africa, Europe and the United States.
Having a high net liquidity position means a company is in good health and can pay its short and long-term obligations. Examples of these obligations are paying short-term debt as well as suppliers.
You need that assurance when you are sending money or making payments for goods and services.
Waya offers low transaction fees
Whether you are sending money or requesting payment as a Waya merchant from the mobile money/M-pesa wallets of your customers, transaction fees will affect your bottom line.
Waya users can benefit from the low cost of transaction fees when using the multi-currency wallet app, as well as the convenience of using a single platform to manage multiple currencies.
Download Waya app today
Visit our official website for more information: https://getwaya.com
Download our Waya app on Apple Store: https://apps.apple.com/us/app/waya-mobile-banking/id6445921373
Download our Waya app on Google Play Store: https://play.google.com/store/apps/details?id=com.wayapay.neo.app&hl=en_US&pli=1
Grace Finance
Writer