Sendwave

payment_institution · Claymont, United States

The register calls Sendwave a bank. It is a consumer remittance app. WorldRemit Corp., trading as Sendwave and owned by Zepz, lets someone in the United States, Canada, the United Kingdom or ten European countries link a debit card, verify identity and send money to family in 55 countries across Africa, Asia and Latin America. There is also a Sendwave Wallet for senders in the US and UK, with rates, cashback or rewards depending on country. There is no business account, no company onboarding and no product aimed at a company of any size.

Legal name: WorldRemit Corp. (trading as Sendwave), part of Zepz
Regulated by: New York State Department of Financial Services (money transmitter), FinCEN (NMLS 1179663) and US state banking regulators including Alaska, California, Florida, Georgia, Maryland, Massachusetts, Minnesota, Pennsylvania, Tennessee, Puerto Rico (TM-055) and Rhode Island currency transmitter
Licence confirmed: yes, on a regulator's own list
Website: www.sendwave.com

Scores, 0 to 10

8.0Customer satisfaction

Trustpilot shows 4.5 out of 5 from 26,586 reviews for sendwave.com. · source

5.0Financial strength & stability

Licensed as a money transmitter across many US states and backed by Zepz, which reports over 5,000 corridors, but no financial statements, capital position or rating is published. · source

4.0Lowest fees

The company markets low service fees and a rate calculator, but no fee table is published on the homepage and pricing varies by corridor. · source

4.0Stablecoins (USDC, USDT and others)

Individuals can send, store and cash out USDC through the Sendwave Wallet in 36 countries since October 2025, but the service is retail remittance only and closed to companies and to US and UK wallet holders. · source

3.5Crypto wallet and custody for a business

The Sendwave Wallet, launched by Zepz in October 2025 on Circle, Solana and Portal infrastructure, holds USDC for individual users in 36 recipient countries, not in the US or UK, and Sendwave's account terms bar businesses from opening accounts, so it is a retail stablecoin wallet only. · source

3.0United States

WorldRemit Corp. holds US money transmitter licences under NMLS 1179663 including New York, but the product is consumer remittance only, with no US business account. · source

3.0Latin America, Africa & South Asia

Pays out in 55 countries across Africa, Asia and Latin America including Nigeria, Kenya, Ghana, India and the Philippines, but only as consumer transfers with no local business account. · source

3.0Fast digital onboarding

Signing up takes minutes for an individual with a debit card and ID, but there is no business onboarding path at all. · source

3.0High-risk verticals (iGaming, cannabis, adult, forex)

No merchant acceptance policy is published for gambling, cannabis, adult or forex businesses because Sendwave has no merchant clients. · source

3.0On-ramp: buy crypto with fiat

Individual senders can add USD by card and have it delivered as USDC to a recipient's Sendwave Wallet, a retail-only fiat-to-stablecoin route; its US account terms say accounts may not be opened by a business in any form. · source

3.0Off-ramp: crypto to fiat in a business account

Wallet holders in the 36 listed countries can cash USDC out into local currency through Zepz payout partners; this is for individuals only, with no business accounts to receive proceeds. · source

2.5Europe (EU, EEA, Switzerland)

Sending is available from Belgium, France, Germany, Ireland, Italy, Portugal and Spain and the company says it is authorised to transmit money in the EU, but there is no euro account and no business service. · source

2.5United Kingdom

UK senders can use the app and the Sendwave Wallet, but there is no UK business account, no Faster Payments product for companies and no company onboarding. · source

2.0Canada

Canada is listed as a sending country and the company says it is authorised to transmit money in Canada, but no Canadian business account or Interac product exists. · source

2.0Crypto-friendly bank

The only crypto reference is USDC transfers being excluded from the fast refund promise; there is no policy on serving crypto businesses because there are no business clients. · source

2.0Cross-border payments, FX and multi-currency accounts

The homepage shows a live exchange rate for consumer sends across 55 corridors, but there is no multi-currency account, no published margin and no business payment rail. No multi-currency accounts, pooling, APIs or host-to-host for companies. · source

2.0Best interest on business balances

The wallet pays cashback or rewards in some countries; no interest is paid on balances and there is no business deposit product. · source

2.0Foreign-owned & non-resident companies

Senders must be resident in one of the listed sending countries and there is no company onboarding, resident or not. · source

1.5Fintech companies that need a partner bank

No safeguarding accounts, correspondent banking or rail access is offered to payment firms; Sendwave is itself the sender. · source

1.0Online businesses: e-commerce and SaaS

No acquiring, collection accounts or marketplace payouts; the app is person to person. No receiving accounts, no API, no accounting integrations and no financing for software companies. · source

1.0Startups & VC-backed companies

No company accounts of any kind, so a startup cannot use Sendwave as a business provider. · source

1.0Trade, manufacturing & import-export

No letters of credit, guarantees or trade instruments; the service moves consumer remittances. · source

1.0Business cards (Visa, Mastercard)

Sendwave takes a debit card as a funding method; it issues no business cards. · source

1.0Accept crypto payments

Sendwave is a consumer remittance app with no merchant or acquiring product, so there is no crypto acceptance, checked September 2026. · source

1.0Bitcoin

Sendwave's wallet holds only USDC and it offers no bitcoin buying, holding or transfer, checked September 2026. · source

1.0Ethereum

The wallet runs USDC on Solana and offers no ether or ERC-20 tokens, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.