Ping Money is a money transfer services that enables customers in the United Kindgom to send money to The Gambia. There are about 40,000 Gambians living in the United Kingdome. The service was launched in April 2017.
How Ping Money Works
Information needed for your registration include your official name as it appears on drivers licence, passport or national ID card, email address, mobile number and billing address. You must be at least 18 years old and a resident of European Union or European Economic Area (EEA).
Once you have signed up successfully, you can immediately start to make money transfers to The Gambia. After your first transfer, you can use repeat transfer button to send money to a person you sent money before without having to enter their details afresh. You will use the same details as your previous transfer with the current mid-market exchange rate.
How to Pay for Ping Money Transfer
Ping Money accepts bank transfers and credit, debit, and pre-paid cards to pay for your money transfers to The Gambia. It only accepts cards that are issued by Visa or Mastercard. Cards from Amex, Diner’s Card, and Union Pay are not accepted.
Once a transfer has been initiated on the Ping Money app, you can select the payment method. You will then be given Ping Money bank details and your Ping Money reference number.
How to Receive Ping Money Transfer
At the moment your recipients can collect their money in cash at any Guaranty Trust Bank branch in The Gambia. The recipient must be over 18 years old and will need the following: transaction number, sender’s complete name, expected amount, and government-issued ID. They can also receive the money into their bank account held at all major banks in The Gambia.
You can make non-monetary remittances as well by buying electricity and airtime for your beneficiary. Airtime can be bought for all Gambian mobile networks (Africell, Qcell, Comium, and Gamcel).
How Long Does Ping Money Transfer Take?
In most cases, transfers sent for cash pick up using Ping Money arrive instantly. Bank transfers may take up to 24 hours.Transfers, however, may take longer depending upon how the money is being received, the receiving bank or the day of the week.
Ping Money Transfer Limit
The maximum amount of money you can send in a 30 day period without additional checks is £3,000 or £12,000 in a 365 day period. If you want to send more than £3,000, Ping Money will require proof of source of your income.
Ping Money Transfer Fees and Exchange Rate
Cash pick ups for any amount sent between £50 up to £4000 are free. Bank transfers attract fees. For instance, if you send £200 to a bank account of your beneficiary, your fee will be £2.99. Fees for bank deposit are £2.99 up to £3,000 and then £4.99 from 3,001 to £5,000. You will see the exchange rate at the time of your transaction. Ping Money makes a profit from exchange rate.
When you pay for a transaction in one currency and the Recipient is paid in another currency, there will be a difference between the exchange rate at which we buy foreign currency and the exchange rate provided to you. Ping Money and its service providers usually make a small profit in these circumstances.
Is Ping Money Safe?
Ping Money is a genuine company trading under the name name of Pay365 Limited, a registered payment service provider by the Financial Conduct Authority (FCA) and licensed by Her Majesty’s Revenue and Customs as a money transmitter. As Ping Money is regulated by the FCA, customers’ funds are stored in safeguarded bank accounts prior to being forwarded to its final destination.
Ping Money Reviews
Ping Money reviews on reviews.io are mostly positive. 96% of reviewers have recommended its money transfer service to The Gambia. Most users praise Ping Money for fast transfers, reliable customer service, fabulous rates, etc.