Sendwave Stock

Sendwave, a digital remittance company, has launched Sendwave Pay, a banking product targeting Kenyans in the US. It provides users with an FDIC-insured bank account, debit card, and benefits such as improved exchange rates, and savings on transaction fees for remittances to Kenya and other countries. The offering also includes reimbursements for international transaction fees and the ability to earn up to 0.51% APY on account balances.

US-based company Sendwave has launched a banking product, Sendwave Pay, for its US customers. The product, the first neobank offering from Zepz, which operates global remittance brands Sendwave and WorldRemit, offers users an FDIC-insured bank account, a complementary debit card, reduced fees on international remittances, and interest earnings. It also reimburses international transaction fees and offers up to 0.4% improvements in exchange rates and up to 25% savings on remittance transaction fees to select African countries.

Fintech Sendwave has partnered with Piermont Bank to enable its users to set up FDIC-backed bank accounts. The new service, Sendwave Pay, will offer depositors up to 0.51% APY on the account balance and provide debit cards for everyday transactions. The service targets migrants in the US, helping them send remittances to family and friends in other countries. Additional perks include discounts on remittances, no maintenance or minimum balance fees, and reimbursements for international transaction fees.