Chipper Cash enables instant cross-border mobile money transfer in 7 African countries and the UK. One of the most interesting aspects of Chipper Cash is that is absolutely free to send money locally or outside your country.
Chipper Cash, which is backed by Amazon CEO Jeff Bezos, is the first platform to offer instant cross-border mobile money transfers in Africa. The fintech also offers users in Nigeria, Uganda, Kenya, and South Africa the ability to buy stocks in US companies such as Facebook, Amazon, Apple, Google, Nike, Netflix, and many other publicly traded companies.
How Chipper Cash Works
Since 29th September, 2020, Chipper Cash users are not be able to cash in, cash out or send/receive money on Chipper if your account is not verified. Verification process involves submitting a video selfie to confirm your identity matches with the ID you submitted. Generally, verification document you need to submit vary depending on the country of your account. For example, If you are a Nigerian user, you will not need to take a photo of your ID as you must submit your BVN to verify your account.
Chipper Cash will review your documents within 2 working days after submission if you are in Ghana, Uganda, Kenya, Tanzania, Rwanda, and South Africa. For Nigerian users, BVN will normally be verified instantly.
How to Pay for Chipper Cash Money Transfer
You need to have money in your Chipper Cash wallet before you can make your transfer. You can add money into your wallet from your mobile money or bank account. Make sure the mobile money/ bank account you want to add cash from is linked to your Chipper account. You can add money by following these steps. You can also move money from your Chipper wallet back to your mobile money or bank account.
How to Receive Money From Chipper Cash
With Chipper Cash, you can send money to any phone number or to a Chipper Cash user. Sending money to someone on Chipper is the same process as sending money to someone who hasn’t created a Chipper wallet yet. You can also make non-cash transfers in form on airtime and bill payments for your beneficiary.
When you send money to someone who isn’t on Chipper, Chipper will send them a text message notifying them of your money transfer. This text message will include the payment amount, the payment note, and a link to download the Chipper app. Once the recipient downloads the Chipper app and signs up using the phone number you sent the payment to, they will find your payment already credited to their Chipper wallet.
Your recipient can then cash out the transfer to their mobile money account or bank account.
How Long Does Chipper Cash Transfer Take?
Chipper processes transfers instantly. It might take a few minutes to enter your recipient’s mobile money account or up to two working days to enter their bank account depending on the bank.
What Are Chipper Cash Fees and Exchange Rates?
Chipper is 100% free to use and always will be. It does not charge any fees at all to send money to someone, even when you send money to someone in another country. Moreover, Chipper uses live and current exchange rates to process cross border transfers so you will always get the most accurate offer. The company doesn’t add any markups to their exchange rates.
How then does the company make money? Chipper runs Chipper Checkout, a merchant-focused, fee-based C2B mobile payment product that generates the revenue to support Chipper Cash’s free mobile-money transfer.
Does Chipper Cash Have Transfer Limits?
When you use Chipper, there are no limits to how much money you can send per transaction within the Chipper app. However, there are limits to how much money you can “Cash In” or “Cash Out”. These limits vary by country. To enquire on the limits for each country, email Chipper at [email protected]
Is Chipper Cash Safe
Chipper is a company registered and incorporated in England and Wales. It operates as agent of PayrNet for the purposes of distributing and redeeming electronic money. PayrNet is authorised by the UK Financial Conduct Authority as an Electronic Money Institution.
At Chipper Cash, your payment information and personal data are encrypted to protect you against unauthorized activities and provide a safe platform for sending and receiving cash.
Chipper Cas is available in Ghana, Uganda, Kenya, Tanzania, Rwanda, South Africa, Nigeria, and the UK. This means you can send money to any one in these countries for free and instantly.
Chipper Cash App Reviews
Final Thoughts of Chipper Cash Money Transfer
As mobile money industry in Africa continues to grow, Chipper Cash is definitely one of the money transfer apps to watch. The company promises to increase its coverage in the future. For now, you can send money to 7 African countries instantly and for free.