How to Sign Up for Sendwave without a Phone Number

Posted on 10/11/24 03:11 am

Sending Money to Thailand, Kenya, Bangladesh, and Beyond with Sendwave

If you need to send money transfers to countries in Asia or Africa, like Thailand, Kenya, or Bangladesh, consider using Sendwave by Chime. This service specializes in these regions, offering commission-free transfers (making revenue through exchange rate margins). Sendwave’s sign-up process requires a mobile number.

Can you manage without providing your personal number? Yes, with today’s digital tools, you can. Let’s explore how to do this and see how Sendwave benefits consumers.

What is Sendwave?

Sendwave is a U.S.-based remittance mobile platform enabling consumers to send money primarily to Asia and Africa. Acquired by WorldRemit in 2021, Sendwave now operates under the UK’s largest financial remittance company, focusing on money corridors in these regions.

With over 400,000 users—mostly Americans sending money to relatives abroad—Sendwave has made international transfers easy. The app allows transfers starting from as low as $1.

Adding and Receiving Money on Sendwave

To deposit funds into a Sendwave account, you’ll need a debit card; the app does not support credit cards or PayPal. This limitation helps reduce transaction costs. If you don’t have a debit card, you can apply for Sendwave’s proprietary debit card within the app.

Recipients can accept transfers in multiple ways: through a bank account, mobile wallet, or cash pickup. The cash pickup option is convenient for those who prefer using cash over online banking.

Sendwave Commissions and Sending Limits

While Sendwave doesn’t charge commission fees, it earns revenue on exchange rate margins. For example, if the mid-market rate to the Philippines is 54.68 PHP to $1, Sendwave’s rate might be 53.81 PHP, creating a markup on each transfer.

Sendwave also has sending limits: for new users, the daily limit is $999 and the monthly limit is $2,999. Users who complete ID verification enjoy higher limits, up to $2,999 per day and $12,000 per month.

Security on Sendwave

Sendwave partners with licensed money transfer services in each region, adhering to high standards for financial security. It uses advanced encryption to protect financial data, securing transactions with 256-bit encryption, the highest industry standard.

To further protect users, Sendwave operates under AML policies and requires identity verification through documents like a driver’s license, passport, or visa. Additionally, Sendwave offers two-factor authentication (2FA) by sending an SMS code to your registered mobile number. If you prefer not to use your personal number, a temporary virtual number can be an alternative.

Using a Virtual Phone Number for Sendwave

Virtual numbers allow users to sign up for online services without revealing their personal phone number. These numbers can receive SMS messages, making them ideal for one-time password (OTP) verifications, including 2FA. Many services, including Sendwave, accept virtual numbers.

Virtual numbers are a secure alternative to traditional SIM cards, which are often more expensive and may require personal documentation. A temporary virtual number for Sendwave is affordable, typically costing less than $1 through smsotpverify.