SimbaPay is a UK-based money transfer company for sending money to and from Kenya fast, cheaply and safely. The fintech was founded by two Kenyans in the UK, Nyasinga Onyancha, a former investment banker, and Sagini Onyancha, online marketer and strategist.
Advantages and Disadvantages of SimbaPay Kenya Transfers
Pros
- Its fees start from as low as £0
- It has partnered with various banks in Kenya; an aspect that makes it easy for the recipient to access the sent funds via his/her bank account.
- The Express options enables one to receive funds from overseas instantly.
Cons
- It operates on fixed exchange rates rather than the current market rates.
- It has a transfer limit of £30,000.
How to Register on SimbaPay
- Visit the firm’s website by clicking here if you want to send money from Kenya or here if you want to send money to Kenya. Alternatively, download the SimbaPay app on App Store or Google Play.
- Click on ‘Join Now’.
- Enter your phone number.
- Select the country you want to send the funds to.
- Enter your first and last name.
- Enter your address in the country that your phone is registered in.
- Input your email address.
- Set a strong password and click on ‘Submit’.
- Log in into your profile and verify your personal details. The required information includes your name, email address, date of birth, physical address, nationality, and proof of ID.
How to Send Money with SimbaPay
There are several options that one can use to send money to and from Kenya with SimbaPay. By partnering with various financial institutions in the country, SimbaPay has eased international money transfers.
Option 1: Using the SimbaPay app
All you need to do is to download the SimbaPay app either on Google Play or App Store. Input the needed details including the amount you intend to send and the recipient’s information. You can choose to pay via a debit card or by a bank account transfer.
SimbaPay offers its clients two alternatives when sending money to Kenya or another country. The Economy and Express options attract different charges. Besides, the funds will reach the intended receiver at different periods. With the Economy option, the funds will be transferee within 3 days. In comparison, the Express alternative enables the money to reach the recipient instantly.
Option 2: mobile money
You don’t have to download the SimbaPay app for you to send money to a recipient in Kenya or beyond. To use this option, you will need to have an active Safaricom line. Follow these easy steps to send money via SimbaPay’s mobile money option:
- Click on the “Safaricom” icon on your phone.
- Click on M-PESA.
- Go to ‘Lipa na M-PESA’.
- Click on ‘Pay Bill’. Input 777211 as the Pay Bill business number.
- Enter the receiver’s phone number as the account number.
- Enter the amount and then your mobile wallet’s four-digit PIN to complete the transaction.
Option 3: Instaweb
To use this option;
- Head on to SimbaPay’s website by clicking here.
- Fill in the form under Instaweb.
- An AIRTEL or M-PESA pop-up will appear on your phone.
Other options are PesaPap app, PrimeMobi, and SimbaPay WeChat money transfer to China from Kenya.
How to Receive Money Sent via SimbaPay
If you are in Kenya and have been sent funds via SimbaPay, you will either access the money via your bank account, M-PESA account, or Airtel Money mobile wallet. The means by which you receive the money depends on the option that the sender uses to send the funds. Depending on whether the sender has chosen the Economy or Express package, you will either receive the cash instantly or within 3 days.
Send Money From Kenya to India via SimbaPay
According to a CNN Health report, Kenya is among the top African countries that send medical tourists to India. There are also many Kenyan students studying in India. As such, SimbaPay has expanded its services to allow for the transfer of money from Kenya to India. To send the funds, you can use the Instaweb, mobile money, or SimbaPay app option as earlier explained in this article. The transfer limit is KES 1 million. You can choose to pay via mobile money (Airtel or M-Pesa) or a bank transfer. The recipient in India is able to access the funds at any bank in India.
Send Money From Kenya to China via SimbaPay
China has become the key supplier of items sold in Kenya; both by retailers and wholesalers. Traders in Kenya import an array of products ranging from fashion items to electronics and household items. To facilitate the importation process, SimbaPay has partnered with Family Bank to enable the transfer of funds from Kenya to China. To send money to this Asian country, you can choose to use the M-Pesa Paybill number (261059) or the PesaPap App for Android and iOS. The recipient can access the sent funds via WeChat.
SimbaPay’s fees and Exchange Rates
SimbaPay facilitates money transfers at fixed exchange rates. On the one hand, you may end up transacting at an exchange rate that is higher than the current market rate. However, the fixed amount will help you know exactly how much the recipient will get.
SimbaPay’s fees start from as low as £0. The charges depend on the option you choose to send money. For the Economy package, there are no fees. This is regardless of whether you are paying via a debit card or bank transfer. As for the Express option, bank transfers do not attract any charges. On the other hand, sending via a debit card will cost you £1.99.
SimbaPay Transfer Limits
One of the drawbacks of sending money to Kenya via SimbaPay is that there is a transfer limit. You can only send up to £30,000 (approximately KES 4.24 million) in a single transaction. While this is limiting in some instances, it is above the amount that most people send.
Is SimbaPay Safe?
SimbaPay is licensed and regulated by the Financial Conduct Authority in the UK. It is PCI DSS (the Payment Card Industry Data Security Standard) compliant and certified. PCI standards ensure that companies such as SimbaPay that process credit card information maintain a secure environment to eliminate credit card fraud.
Final Thoughts
SimbaPay has eased the transfer of funds to Kenya; especially since it avails an option of receiving the cash on popular mobile wallets like M-Pesa and Airtel. Besides, it has made it possible for one to transfer money to China and India instantly.