Klasha Business

    November 23, 2022

    FAQs: What is KlashaWire?

    With more businesses selling into Africa, international businesses and suppliers must transact cross-border and make large international transactions. Yet, despite the continent's commerce growth, financial policies restrict traditional institutions from sending a high amount overseas at a low cost. This is one of the payment problems that Klasha is here to solve.

    KlashaWire, a payable feature of Klasha Business, helps businesses send money globally. KlashaWire makes it easy and fast for you to send a wire to your business partners and suppliers overseas using African currencies. They receive the equivalent payout in USD, CNY, EUR, GBP, INR, other hard currencies, and more.

    We’ve compiled some of the common questions our merchants usually have so you are steps ahead:

    What are KlashaWire transaction fees?

    There is no fixed rate for all transactions, as the fee depends on the sent volume. Wire fees vary from 2.1% to 2.9%. To make it easier, merchants can send as low as $100 overseas at competitive rates. All KlashaWire transfers are at low FX rates as we want to help our merchants sell seamlessly. 

    How long do KlashaWire transactions take?

    One to four business days is how long your payment from Africa takes to get overseas. Except if there is a bank holiday in either the sender’s or recipient's country, our settlement time is fast whether you send the funds in NGN, GHS, or TZN.  Also, you don't have to worry about the security of your transfers, as all our transactions are 100% secure.

    How long does it take to receive a payout?

    One to three business days is how long it takes for your business partners and suppliers to receive the payments in their currencies. You can wire funds to the UK, USA, China, Turkey, and over 120 countries globally, and they will receive the funds in USD, CNY, EUR, GBP, INR, other hard currencies, and more.

    To accompany our low FX rates, merchants can wire up to $50,000 per transaction. Wish to send more? You can initiate multiple transactions.Klasha Business FX rates and options are not limited to USD and other G7 currencies. When you wire money overseas in your African currencies, Klasha Business has over 50 destination currencies, including ZAR, UGX, CYN, XAF, and others.

    KlashaWire has made many businesses like Efugo Extractives and Truthware solutions scale in the continent and improves their business processes internationally. KlashaWire is available on your business dashboard once you create your Klasha Business Account. Do not hesitate to contact us if you have questions about wiring funds overseas from Africa.