Sharemoney is a money transfer services company that was founded in 2014 in the United States. It offers fast and convenient money transfer from the United States and Canada to 17 African countries.
How Sharemoney Works
Signing up for Sharemoney services involves providing your personal details after dowloading Sharemoney app on Android and iOS. You need to enter your full name, date of birth, phone number, address and email address, which will be used for confirmation. After successful completion of sign up process, you will be able to proceed and make your first transfer to supported countries in Africa.
How to Receive and Pay for Sharemoney Transfers
The method of funds delivery to your recipient via Sharemoney depends on the country of your recipient. Supported receiving methods are direct bank deposit, cash pickup, and in some cases home delivery. You can pay for your money transfers with a bank account or credit/debit card.
Sharemoney Transfer Limits
Due to regulatory policies, Sharemoney imposes transfer limits to its customers. You can send from $20 to $2,999.99 daily and $9,999.99 every six months. If you want to send higher amount than the set limit, you need to apply by submitting additional information to comply with financial regulations.
Sharemoney Transfer Fees
Like many other money transfer services, Sharemoney charges a transaction fee. Sharemoney’s transfer fees start at $2.99. The fee is higher if you are paying by credit card. The company makes money from fee and exchange rate.
Share Money Transfer Speed
In normal cases, money transfers will take 1 day to arrive. The actual time of your transfer may vary depending on the sent currency, the amount, and destination.
Sharemoney Supported Countries
You can use Sharemoney to send money to Benin, Burkina Faso, Cameroon, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Kenya, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, The Gambia, and Togo.
Is Sharemoney Secure?
Sharemoney has transferred over $10 billions. It is federally and state regulated and uses Extended Validation SSL security to protect financial information of its customers. Sharemoney service is operated under the license of OmnexGroup, Inc.
Sharemoney has received 4.4 star rating on Trustpilot from over 2000 customers. 77 percent of the people who reviewed Sharemoney services said Sharemoney service was excellent. 5 percent of users complained about delayed transfers, poor customer service, long review process, and noncompetitive exchange rate. Sharemoney is one of the top rated money transfer services on Trustpilot.