Sendwave launches bank account for migrants

Sendwave launches bank account for migrants

Remittance outfit Sendwave has launched a banking product for migrants in the United States.

Sendwave, which is owned by London-based fintech Zepz, is offering select customers a FDIC-insured bank account with an accompanying debit card.

Customers will also get up to 0.4% improvement on exchange rates and up to 25% savings on transaction fees on remittances to Kenya, Ghana, Tanzania, Uganda, Nigeria, and Liberia when using the funds in their accounts.

Mark Lenhard, CEO, Zepz, says: “Sendwave Pay enables US-based migrants to take their money farther, creates financial empowerment through interest schemes and competitive benefits, and firmly establishes Sendwave as a heavy hitter in the fintech space.”

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