Remittance outfit Sendwave has launched a banking product for migrants in the United States.
Sendwave, which is owned by London-based fintech Zepz, is offering select customers a FDIC-insured bank account with an accompanying debit card.
Customers will also get up to 0.4% improvement on exchange rates and up to 25% savings on transaction fees on remittances to Kenya, Ghana, Tanzania, Uganda, Nigeria, and Liberia when using the funds in their accounts.
Mark Lenhard, CEO, Zepz, says: “Sendwave Pay enables US-based migrants to take their money farther, creates financial empowerment through interest schemes and competitive benefits, and firmly establishes Sendwave as a heavy hitter in the fintech space.”