Sendwave can send money directly to a bank account, but only in certain countries and only if the receiving bank is part of Sendwave's network
Sendwave is a mobile money transfer service owned by Remitly. It lets you send money from the United States to people in other countries. The receiving person can collect that money in different ways — including directly into a bank account, but this option is not available everywhere.
Whether a bank account transfer works depends on two things: which country the money is going to, and whether that specific bank has a partnership with Sendwave. Sendwave operates in roughly 40 countries across Africa, Latin America, and Asia, but bank deposit is available in only some of them. If the receiving bank is not in Sendwave's network, the recipient will need to collect the money another way — usually through a mobile money service like M-Pesa or through a cash pickup location.
The process itself is straightforward if your option is available: you send money through the Sendwave app or website, the recipient provides their bank details, and Sendwave deposits the funds directly. The timing varies by country and bank, but most transfers complete within one to three business days.
Key Takeaways
- Sendwave can deposit money into a bank account in some countries, but the receiving bank must be part of Sendwave's partner network.
- Bank deposit is not available in all countries where Sendwave operates — you need to check during the sending process whether it is an option for your recipient's location and bank.
- If bank deposit is not available, the recipient can collect money through mobile money services like M-Pesa, Airtel Money, or MTN Mobile Money, or at designated cash pickup locations.
- Transfers to bank accounts typically take one to three business days, depending on the country and the receiving bank's processing speed.
Which countries and banks accept Sendwave deposits
Sendwave's bank deposit option is most developed in East Africa. Kenya, Uganda, and Tanzania have the widest coverage — most major banks in these countries accept Sendwave transfers. In Kenya, for example, banks like Equity Bank, KCB, and Safaricom's M-Shwari accept deposits. Uganda's Stanbic, Barclays, and Centenary Bank are on the network. Tanzania's NBC, Crdb, and Azania Bank accept them.
West Africa has more limited coverage. Nigeria has some bank partners, but not all banks accept Sendwave deposits. Ghana, Senegal, and other West African countries may offer the option through specific banks only. Latin American countries like Mexico and Guatemala have bank deposit available through select partners, but again, not all banks participate.
The easiest way to know whether bank deposit works for your recipient is to start the transfer in the Sendwave app or on their website. Enter the recipient's country and phone number, and Sendwave will show you what collection methods are available — bank deposit will appear as an option only if it is supported in that location. If it does not appear, you will see the other methods available instead.
How the bank deposit process works
Once you have confirmed that bank deposit is available, the process is straightforward. You enter the recipient's bank account details — their full name as it appears on the account, the account number, and the bank name. Sendwave uses this information to route the money directly to that account.
The recipient does not need to do anything on their end except provide you with their correct bank details. They do not need a Sendwave account, and they do not need to go anywhere to collect the money. The funds arrive in their bank account automatically once Sendwave processes the transfer.
Timing depends on the receiving bank's processing speed. Most transfers complete within one to three business days. Some banks are faster — a few process deposits the same day. Others may take longer, especially if the transfer arrives outside business hours or on a weekend. The recipient should check with their bank about when the money will show in their account.
What happens if bank deposit is not available
If Sendwave does not have a bank partnership in the recipient's country or with their specific bank, you have other options. The most common is mobile money — services like M-Pesa in Kenya, Airtel Money in Uganda, MTN Mobile Money in Ghana, and similar services in other countries. The recipient provides their mobile money account details instead of a bank account, and the money arrives in the same way.
Mobile money transfers are often faster than bank deposits — many complete within minutes or hours rather than days. The recipient can then withdraw the money at an agent location or use it directly from their mobile account to pay bills or buy goods.
Cash pickup is another option. Sendwave partners with agents in many locations — convenience stores, supermarkets, money transfer shops — where the recipient can collect the money in person. You would provide the recipient with a reference number, and they would go to a participating location with their ID to collect the cash.
Fees and exchange rates for bank transfers
Sendwave charges a flat fee for each transfer, which varies by the amount you send and the destination country. The fee is shown to you before you confirm the transfer, so you know the exact cost. There is no separate charge for choosing bank deposit over other collection methods — the fee is the same regardless of how the recipient collects the money.
Sendwave also applies an exchange rate to convert US dollars to the local currency. This rate is shown during the sending process. The exchange rate Sendwave uses is typically close to the mid-market rate, but it does include a small margin for the company. You can compare this to other services if you want to see how the rate stacks up, but the difference is usually small.
Timing and what can go wrong
Most bank deposits arrive within one to three business days. Weekends and holidays can extend this — a transfer sent on Friday evening might not arrive until Tuesday. Some banks process deposits only during business hours, so timing matters.
The most common issue is incorrect bank details. If the account number, account name, or bank name does not match exactly, the transfer may be rejected or sent to the wrong account. Always confirm the recipient's details before sending. If something goes wrong, contact Sendwave's support team — they can investigate and may be able to reverse the transfer or resend it to the correct account.
Another potential issue is that the receiving bank may place a hold on the deposit if it is unusually large or if the account is new. This is a bank decision, not a Sendwave issue, and the recipient would need to contact their bank to resolve it.
Frequently Asked Questions
Does the recipient need a Sendwave account to receive money in their bank account?
No. The recipient does not need any account with Sendwave. They only need a bank account in a country and bank where Sendwave has a partnership. You provide their bank details, and the money goes directly to their account.
What if I send money to a bank account and it gets rejected?
If the transfer is rejected, Sendwave will typically refund the money to your original payment method within a few business days. Contact Sendwave support with your transfer reference number, and they can tell you why it was rejected and help you resend it with corrected details.
Can I change the collection method after I send the money?
No. Once you have sent the money and selected bank deposit, that is the collection method. If the recipient wants to collect it differently, you would need to cancel the transfer (if Sendwave allows it) and send it again using a different method. Check Sendwave's policy on cancellations for your specific situation.
Is bank deposit cheaper than mobile money or cash pickup?
No. Sendwave charges the same fee regardless of which collection method you choose. The cost is the same whether the recipient collects via bank deposit, mobile money, or cash pickup. Choose based on what is available and what works best for the recipient.
How do I know if the recipient's bank accepts Sendwave transfers?
Start the transfer in the Sendwave app or website, enter the recipient's country and phone number, and Sendwave will show you what collection methods are available. If bank deposit appears as an option, that bank is supported. If it does not appear, you will see the other available methods instead.