Frequently Asked Questions

Ayomide Ogunkeye Updated by Ayomide Ogunkeye

Frequently Asked Questions

  1. Why am I receiving a different amount from the amount displayed? 

There are several factors that affect the final Naira value received by the recipient.

a) The BTC/USDT rate- We pay out at the rate when we receive your transaction, not when you initiate the transaction. This is because the rate refreshes every two minutes and it may take your sending wallet a significant amount of time to complete the transaction, which means the rate would be different when we finally receive your BTC. 

b) Transfer fees from sending wallet- This means that we receive less BTC than what was indicated when you initiated the transaction. For example, if we ask you to send 0.001BTC for x amount of Naira, and we receive 0.0009BTC because your wallet has charged a fee of 0.0001BTC, this means that you receive less than x amount of Naira when we receive 0.0009BTC.   

To receive the exact amount displayed, ensure that you complete the transaction immediately and account for any fees from your sending wallet.

2) Why has my Virtual account deposit not been credited?

Only Wire Transfers are allowed to your USD account and this takes 1-2 working days, excluding weekends and holidays to process. In the event that you do not receive this within the given time-frame, please confirm that you have initiated a Wire Transfer and reach out to Support with your IMAD/MT103 for resolution. All direct deposits/ACH transfers will be refunded within 72 hours. 

Only Direct Deposits/FPS payments are allowed to your GBP accounts, and this takes 1 working day, excluding weekends and holidays to process. In the event that you do not receive this within the given time frame, please confirm that you have initiated a direct deposit and reach out to Support with your transaction receipt for resolution. All SWIFT/Wire transfers will be refunded within 72 hours. 

3) Where is my GBP deposit? 

Your GBP deposit is converted to USD and your balance is displayed at the top-left of your screen.  

4) Why is my account restricted? 

Your account may be restricted for several reasons which include but not limited to security checks, receiving beyond daily transactions limit and Naira withdrawal beyond limits. 

You can always reach out to [email protected] to resolve any issues with your account. 

5) Can I transfer to and from dom accounts? 

No, Sendcash does not support transfers to and from domiciliary accounts. 

6) What payment platforms work/do not work with Sendcash?

Several payment platforms work with Sendcash. With Deel, Wise & Revolut, you can initiate Wire Transfers to your USD account. N.B Swift is the same as Wire Transfer. 

Platforms like Paypal & Payoneer are not applicable because they do not support Wire Transfers to USD accounts. 

7) What are Sendcash's Limits & Fees?

For Naira transactions via BTC, USDT & Card Option, your daily transaction limit is 10,000USD for verified users. 

There are no fees on Sendcash for using BTC or USDT however, your sending wallet may charge fees for sending to Sendcash.

There is a 30 USD minimum and a transaction fee which will be displayed on payment confirmation, for using the card option.

For transactions to virtual USD accounts, there are fees for Wire Transfers from the sending platform e.g  the fee for Swift transfers is $5 on Deel. Sendcash also charges 1% for every transaction to the USD/GBP accounts. 

There are no limits for transactions to virtual accounts but high volume transactions are subject to security checks. 

How did we do?

Virtual Accounts vs Payment Links