Rocket Remit is one of the fastest way to send money from Australia to 22 African countries. The service is simple as you don’t even need to use a smartphone or an app. You can send money via SMS to a mobile wallet such as M-Pesa.
Advantages of Using Rocket Remit
Using Rocket Remit, you will experience the following benefits:
- Sending money to a mobile wallet in the supported countries such as Kenya, Nigeria, ivory Coast, and Mozambiqu is instant.
- Mobile wallets have become highly popular and readily accessible in many African countries.
- Sending money to a mobile wallets has lower fees compared to a bank account.
- Rocket Remit has a flat fee structure, which is ideal for people sending large amounts.
Disadvantages of Using Rocket Remit
Before using Rocket Remit, you need to be aware of some of the disadvantages you may encounter:
- You may be unable to send large amount of funds because mobile wallets have limits on how much money can be stored or received.
- With Rocket Remit, you can only send money to a mobile wallet.
- To send money with Rocket Remit, you must have an Australian SIM card and phone number.
How Rocket Remit Works
You need to follow 3 simple steps that require your personal information to create your account. The process takes less than 3 minutes. Once your account is created, you will be able to load your Rocket Remit account. Once your account is loaded, you can go ahead and send money to your recipient with only their mobile phone number. Although you don’t necessarily need an app to send money with Rocket Remit, you can still use their apps for Android and iOS.
How to Send Money Online With Rocket Remit
You can send money online by logging into your Rocket Remit dashboard and enter the details of your money transfer such as recipient’s mobile number, amount to send in AUD, recipient’s first name, last name and address. You will receive payment confirmation SMS containing your one time code. Reply with the confirmation code to authorize the payment to the receivers mobile wallet. Finally, you will receive a reply receipt with your transfer reference number.
How to Send Money With Rocket Remit Via SMS
To send by SMS start with the word PAY followed by the mobile number of the recipient in international format followed by the amount in AUD followed by their first name, last name, and their address. Remember to just put 1 blank space between each of these fields. Send the SMS to 0488 762 538 (0488 ROCKET). You will then receive an SMS confirming the amount the recipient will receive plus a one-time authorisation code. Reply by SMS with the one-time code within 5 minutes to authorise and complete the payment. You will receive another SMS with your transfer reference number.
How to Pay for Rocket Remit Money Transfer
Your Rocket Remit account must be loaded with funds before you can make a transfer. You have the option of loading your Rocket Remit account via bank transfer, BPAY, POLi or branch deposit at any Australia and New Zealand Banking Group (ANZ) branch or ATM.
Transfers from your bank account to your Rocket Remit account may take up to two or three business days depending on your bank. For faster account loading we suggest you use the POLi option. If you load your account after 6pm on a Friday via bank transfer including BPAY, funds may not be reflected until the following business day (Monday).
You can withdraw money from your Rocket Remit account if you loaded from your bank account. However, a $50 administration fee applies to all withdrawal requests. It usually take between 10-15 business days for the withdrawal to be processed. Money cannot be withdrawn if you loaded via branch deposit or ATM deposit.
How Do I Receive Rocket Remit Money Transfer?
Rocket Remit works with mobile money providers in the supported countries. For instance, Rocket Remit partner in Zambia is Airtel Money and Ivory Coast is MTN Money and Orange Money. You should ask your recipient to confirm Rocket Remit partrneship with their mobile money provider in their country. This means the only receiving method is mobile money.
Rocket Remit Transfer and Account Limits
There is a maximum daily cumulative transaction limit of $1000. The limits re-sets at midnight AEST. The minimum send amount is $50. Your Rocket Remit account balance must not exceed $1000. If your account exceeds this limit, your Rocket Remit account may be suspended.
The receive limits vary depending on the country and the receiving mobile money operator. They are quite complicated and too complex to publish here. It is unlikely that you will ever reach these transaction limits. However, if you are receiving an error message about reaching a transaction limit, please contact [email protected] with the transaction details and we will provide more information.
How Long Does It Take to Send Money With Rocket Remit?
In most cases, after you confirm the transaction, the money will be available to your recipient instantly. However, sometimes delays caused by network problems result into some SMS messages be delayed.
How Much Does It Cost to Send Money With Rocket Remit?
Rocket Remit has a simple flat fee of $5 for sending any amount of money overseas. The $5 fee will be deducted from the amount you are sending. If you are sending 500 AUD to Cameroon, you need to send 505 AUD. Your recipient will receive 186,772 XAF.
Which Countries Can I Send Money to With Rocket Remit?
Rocket Remit allows you to send money to these African countries: Benin, Burundi, Cameroon, the Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Guinea Bissau, Ivory Coast, Kenya, Malawi, Mali, Mozambique, Nigeria, Rwanda, Senegal, Somalia, Somaliland, Tanzania, Uganda, Zambia, and Zimbabwe.
Is Rocket Remit Safe?
It is safe to use Rocket Remit to make money transfers. The company is regulated by the Australian Securities & Investments Commission (ASIC). To protect your data and transaction, Rocket Remit sends a one-time SMS code to your number every time you want to send a transaction. This allows you to confirm the transaction.
Rocket Remit Reviews
Most of Rocket Remit customers on Trustpilot were satisfied with the service. Out of 200 reviews, 83% of customers rated the service as excellent while only 4% rated it as bad. It currently has a rating of 4.7/5.
Final Thoughts on How to Send Money With Rocket Remit
If you are sending large amount of money from Australia to Africa, Rocket Remit may be your best option because of its flat fee structure of 5 AUD. You should also make sure that your recipient has a mobile wallet with a Rocket Remit partner in their country.