Sendwave Wallet FAQs

A secure digital account inside the Sendwave app.

Anyone can open a Sendwave Wallet simply by downloading the Sendwave app and signing up for an account in the US.

When you use the Sendwave Wallet to send money, you can access promotional exchange rates or cashback rewards. However, these may only apply to certain countries and transfers. You can also send USD-equivalent digital dollar transfers from your wallet to your loved one’s Sendwave Wallet in over 80 countries.

No. Opening and maintaining a Sendwave Wallet is free.

You're sending money directly to your recipient's Sendwave Wallet. They will receive it as USDC, a digital dollar that can be cashed out in local currency.

Full list of countries with cash out options are: Bangladesh, Benin, Brazil, Cameroon, Colombia, Côte d’Ivoire, Dominican Republic, El Salvador, Fiji, Gambia (The), Guatemala, Haiti, India, Indonesia, Jamaica, Kenya, Liberia, Madagascar, Malawi, Mexico, Mozambique, Nicaragua, Pakistan, Peru, Rwanda, Senegal, Tanzania, Thailand, Uganda, Zambia, Zimbabwe.

You can search for someone by entering their phone number in the search bar.

Your recipient will receive a digital currency equivalent to US dollars, so you don't have to worry about fluctuating exchange rates when sending. They can then choose the best time to convert it to their local currency based on the exchange rate.

No, peer-to-peer transfers are only possible between Sendwave Wallet customers.

Withdrawal is NOT available in the US, but your loved ones back home can withdraw from their wallet into local currency.

Full list of countries with cash out options are: Bangladesh, Benin, Brazil, Cameroon, Colombia, Côte d’Ivoire, Dominican Republic, El Salvador, Fiji, Gambia (The), Guatemala, Haiti, India, Indonesia, Jamaica, Kenya, Liberia, Madagascar, Malawi, Mexico, Mozambique, Nicaragua, Pakistan, Peru, Rwanda, Senegal, Tanzania, Thailand, Uganda, Zambia, Zimbabwe

You can only store USD in your wallet. At present, it is not possible for users in the US to buy, store, send, or receive USDC.

USDC is the digital currency that your recipient receives when sending to their wallet.

USDC is a regulated digital currency that you can redeem 1:1 for US dollars. It is a stablecoin, a type of cryptocurrency that is backed by cash and cash-equivalent assets to ensure that 1 USDC is worth 1 US Dollar.

Yes, USDC is a type of cryptocurrency known as a stablecoin. Stablecoins are designed to be pegged to a real-world currency. In this case, USDC is pegged to the US Dollar.

Please contact Sendwave support and we’ll help sort it out quickly.

To update your personal information, please contact Sendwave support. They will guide you through the necessary steps to ensure your account details are accurate and secure.

You can close your Sendwave Wallet at any time by reaching out to Sendwave Customer support.

The Sendwave Wallet is a secure digital account where you can receive, hold and manage money sent to you via other Sendwave customers around the world.

Anyone can open a Sendwave Wallet simply by downloading the Sendwave app and signing up for an account in the US.

The Sendwave Wallet allows you to hold USD-equivalent digital dollars, which helps to shield your funds from market swings. In select countries, you can also easily withdraw your balance to your preferred local external accounts.

No. Opening and maintaining a Sendwave Wallet is free.

You're sending money directly to their digital wallet. They will receive it as USDC, a digital dollar that can be easily converted to local currency. From there, they can conveniently move the funds to their mobile money, bank account, or pick it up as cash - in select markets.

Full list of countries with cash out options are:  Bangladesh, Brazil, Democratic Republic of the Congo, Republic of the Congo-Brazzaville, Côte d'Ivoire, Cameroon, Colombia, Dominican Republic, Gambia, Guatemala, Haiti, Indonesia, Jamaica, Kenya, Lebanon, Liberia, Morocco, Madagascar, Mali, Mexico, Nicaragua, Peru, Pakistan, Senegal, Salvador, Thailand, Tunisia, Tanzania, Uganda, Vietnam.

You can search for someone by entering the mobile number they signed up with in the search bar. 

Your recipient will receive digital dollars, equivalent to US dollars. This means you don't have to worry about fluctuating exchange rates when sending. They can then choose the best time to convert it to their local currency based on the exchange rate.

No, peer-to-peer transfers are only possible between Sendwave Wallet customers.

Currently, you can only receive money into your Sendwave Wallet from other Sendwave customers. We are working on adding more ways to fund your wallet in the future!

First, tap the "Withdraw" button in the Sendwave app.

Next, tap "Add Recipient". This is where you tell Sendwave where you're sending money to.

Lastly, you'll enter the details of where you want the money to go. This could be your bank account number or phone number, depending on how you want to receive the funds. You can only cash out to yourself. 

Full list of countries with cash out options are: Bangladesh, Brazil, Democratic Republic of the Congo, Republic of the Congo-Brazzaville, Côte d'Ivoire, Cameroon, Colombia, Dominican Republic, Gambia, Guatemala, Haiti, Indonesia, Jamaica, Kenya, Lebanon, Liberia, Morocco, Madagascar, Mali, Mexico, Nicaragua, Peru, Pakistan, Senegal, Salvador, Thailand, Tunisia, Tanzania, Uganda, Vietnam.

Yes, limits may apply based on your verification status and local regulations. We’ll always show you the limits before you complete a withdrawal.

Yes. The wallet gives you full control. Hold your money until you’re ready to cash out or spend.

The exchange rate used will be the rate at the time you initiate the conversion. We will always show you the exact exchange rate before you confirm your withdrawal, so you know exactly how much local currency you will receive.

The time it takes for withdrawals to be processed can vary depending on your chosen withdrawal method and local service providers. We will provide an estimated delivery time before you confirm your withdrawal. In most cases, mobile money and bank transfers are processed quickly, while cash pickup availability depends on the agent location.

Your wallet balance is displayed as USDC.  It’s backed by a digital dollar called a stablecoin, which helps keep its value stable.

A stablecoin is a type of digital dollar that keeps a steady value, like the US dollar. This lets you hold and use digital money without worrying about big price changes.  The stablecoin used in your wallet is USDC. USDC is backed by cash and cash-equivalent assets to ensure that 1 USDC is worth 1 US Dollar. 

Yes, USDC is a type of cryptocurrency known as a stablecoin. Stablecoins are designed to be pegged to a real-world currency. In this case, USDC is pegged to the US Dollar.

Yes, USDC is designed to maintain a stable value, pegged 1:1 to the US Dollar. It is backed by cash and cash-equivalent assets to ensure this stability, regardless of fluctuations in the broader cryptocurrency market.

Yes, there may be limits on the maximum amount of USDC you can hold in your wallet based on your verification status and local regulations. We will always inform you of these limits within the app.

Please contact Sendwave support and we’ll help sort it out quickly.

Yes. Your wallet is protected by strong security tools, including biometric lock and passkey device protection. We never share your personal data without your permission.

A wallet passkey is a secret code that grants you access to your wallet and allows you to authorize transactions involving your wallet. 

Your wallet passkey is encrypted and stored on your device. During the Sendwave Wallet creation process, your wallet passkey will be backed up automatically on your device.

Your passkey is encrypted and stored on your device. If you lose your phone, you will need to restore your wallet passkey backup on a new device to access your wallet. If you are having trouble restoring your passkey, please contact Sendwave support for assistance.

No, the wallet is only accessible with the wallet passkey stored on your device.

If you lose your phone, your money is still safe. You will need to restore your wallet passkey back up on a new device in order to access your wallet.

If you are moving devices to access your wallet, you will just need to migrate your passkeys from your old device to your new one.  After logging into the new device with your Sendwave account we will look for your wallet passkey and if recovered will grant access to your wallet.

Yes. You can move your funds to a different wallet, but first you’ll need to remove your Wallet from Sendwave.

To update your personal information, please contact Sendwave support. They will guide you through the necessary steps to ensure your account details are accurate and secure.

You can close your Sendwave Wallet at any time by selecting to remove your wallet within the app. This lets you disconnect your wallet from Sendwave and stop using the wallet features. Learn more on how to remove your wallet