How to send money overseas using KlashaWire
In 2020, Tanzania, Angola, and Nigeria were among the countries in Africa with the highest costs incurred on remittances sent. The charges for a money transfer of $200 in each country amounted to 19.7% of the sum sent, on average, according to a report by Statista.com. In Nigeria, the CBN policy on sending small amounts with high transaction fees makes wiring money overseas to suppliers and business partners more difficult for business owners. These setbacks affect business processes and the willingness of international businesses to sell into Africa.
Sending money overseas from Africa has been made seamless with KlashaWire. Dedicated to frictionless cross-border transactions, KlashaWire makes it easy and fast for you to send a wire to your business partners and suppliers overseas using African currencies, and they receive the equivalent payout in USD, CNY, EUR, GBP, INR, G7 currencies, and more.
To use KlashaWire, you need to have a Klasha merchant account. Once you’re logged in to your account, go to KlashaWire, click “Send wire”, and follow these four simple steps:
Step 1: Payment details
When you click “Send wire”, the first step is to fill in the country, currency and amount you want to send.
Step 2: Beneficiary details
You are required to input the details of the recipient of the wire.
For new users, click on “Add new beneficiary”, where you will be prompted to fill in the beneficiary’s details, including name, business name, email address, bank account number, bank name, SWIFT code, IBAN, and more. Once this is done, you can submit the form and select “Next” to proceed to the next step.
Remember that you can add a new beneficiary or select one of your existing beneficiaries if you are a current KlashaWire user.
Step 3: Payment description
As expected of any payment method, you need to include a payment description and upload an invoice detailing what the payment is for.
Example: Your supplier sent you an invoice of $10,000 for 100 bags. You can write this as a payment description and upload the invoice sent by your supplier.
Step 4: Payment summary
This is an overview of all the steps you have taken so far. If you want to make changes, click the edit button and return to any previous steps. You can tap on “Make payment” if everything is good to go.
The next page that will pop up is the KlashaCheckout page, where you can select your preferred mode of payment which includes Bank transfer, Klasha Wallet, USSD and card (Visa/Mastercard).
Once you select “Pay with Klasha”, you will be notifed of the status of your payment, whether successful or otherwise.
Once payment is received, you will be issued a receipt. To keep an eye on your transaction, check the KlashaWire history page to view the payment status.
With KlashaWire, you can send money to your business partners and suppliers in China, the USA, the UK, Turkey, and over 120 more countries using African currencies, and they will receive the equivalent payout in USD, CNY, EUR, GBP, INR and G7 currencies, and more in 1-4 working days. All payments are safe and 100% secure when you send a wire to pay for goods and services internationally.
Do you have any questions about KlashaWire or any of our products? Send us a message, and someone will be in touch.