Sendwave money transfer review & guide

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

Sendwave 3c8df74389
Trademark Disclaimer: Sendwave* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

Sendwave review

Founded in 2014, Sendwave is a money transfer service that aims to make sending money internationally as easy and affordable as sending a text message. Focused on low fees and high guarantees, Sendwave has become a trusted platform for users across over 130 countries. In 2020, Sendwave joined forces with WorldRemit to form the Zepz Group, further expanding its reach and capabilities. With a mission to enhance the financial accessibility for cross-border communities, Sendwave operates in over 50 countries, sending billions of dollars worldwide annually.

Payment Methods Available with Sendwave

Sendwave offers a streamlined and efficient way to send money internationally, leveraging specific payment methods to ensure fast and affordable transfers. Here's a detailed breakdown of the payment methods accepted

  • Visa and MasterCard debit cards are supported.
  • Certain prepaid cards are accepted, including PostePay (Italy), Correos (Spain), and La Banque Postale (France)

    • How much can I transfer with Sendwave?

    Sendwave has different transaction limits depending on your verification level.

    Basic Verification Limits

    With basic verification, users can send up to $999 CAD per day and $2,999 CAD per month.

    Enhanced Verification Limits

    After completing enhanced verification, users can send up to $2,999 CAD per day and $12,000 CAD per month.

    Requesting Higher Limits

    Users can request higher limits by submitting a government-issued ID through the app.

    How long does a transfer usually take with Sendwave?

    The time it takes for Sendwave transfers to reach the recipient depends on the destination country and the chosen receiving method. Transfers can be delivered within minutes, but in some cases, they may take between 3 to 5 days.
    Wise comt f7ade42768

    Pros and Cons of using Sendwave

    Pros
    List icon

    Fee-free transfers to select countries.

    List icon

    Most transfers completed within minutes.

    List icon

    Simple, intuitive mobile experience.

    List icon

    Customer service available anytime.

    Cons

    icon

    Only supports debit and some prepaid cards.

    icon

    Exchange rate markups can reduce recipient value.

    icon

    Daily/monthly limits apply; higher tiers need verification.

    icon

    Not available in all countries or regions.

    How it works

    How does Sendwave make money?

    Sendwave primarily generates revenue through a small markup on the exchange rate applied to currency conversions during international money transfers. This approach allows the company to offer fee-free transfers to select countries, making it an attractive option for users. The markup typically ranges from 0.88% to 5%, with most transactions clustering around 2–4%

    Sendwave exchange rates

    While Sendwave offers competitive exchange rates, it does apply a markup on the mid-market rate, typically between 1-3%. This markup is how the platform makes money, and although it doesn't charge additional transfer fees, the higher exchange rate can make transfers more expensive than they initially seem. For users looking for full transparency, the exchange rate discrepancy may feel like a hidden cost. While Sendwave’s fee-free structure may be appealing, it’s important to understand that the exchange rate you receive will be less favorable than the mid-market rate, making it less cost-effective for some international transfers. ​
    Wise exchange rate a6d32b2b55

    Best rates with RemitBee

    RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

    Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

    Safety and security

    Is Sendwave money transfer secure?

    Sendwave places a high priority on the security of your transactions and personal information. The platform uses advanced 256-bit encryption to protect your data, ensuring it remains secure during transmission. Additionally, Sendwave requires identity verification and offers two-factor authentication (2FA) for added security.

    Security features

  • All data entered into the app is encrypted using 256-bit encryption for secure transmission.
  • Users must complete identity verification to protect their account.
  • To ensure funds are sent to the right person, Sendwave pulls contact details directly from your phone and confirms recipient information.

    • With Sendwave you can send money from the following countries

    Sendwave allows you to send money to and from over 150 countries. Some of the countries where you can send money include:
    Graphic 5eea8b2bb7

    Other Money Transfer Providers

    Frequently asked questions

    Have questions? We have answers!

    What is Sendwave?
    What payment methods are accepted on Sendwave?
    How fast are Sendwave transfers?
    What are Sendwave's transfer limits?
    Are there any fees for Sendwave transfers?