TapTap Send is an app designed to facilitate quick and affordable money transfers to Africa, Asia, and the Caribbean. Since its launch in 2018, the platform has processed billions of dollars, serving customers across the UK, US, Canada, UAE, Australia, and the EU, with continuous expansion to new countries. TapTap Send aims to address the high costs and lengthy processing times often associated with traditional money transfer services, making cross-border remittances more accessible and efficient.
The company is supported by prominent investors and is committed to achieving the UN Sustainable Development Goal of reducing remittance costs by 2030.
How TapTap Send Works
TapTap Send generates revenue through two primary channels. Firstly, they gain a small margin on exchange rates by marking up the difference between the rates they receive from their partners and those offered to customers. Secondly, while many transfers are free of charge, TapTap Send imposes minimal fees on transfers to specific destinations, such as the Democratic Republic of Congo and Jamaica, which may involve small fixed or percentage-based fees.
Exchange Rates
TapTap Send leverages pooled transfers from all customers daily to negotiate the best possible exchange rates, which are significantly better than what an individual customer could secure alone. The goal is to offer exchange rates as close as possible to the real rates found on platforms like Google or Bloomberg, providing you with rates that are significantly better than those offered by most other remittance providers.
Transfer Details
Payment Methods Available
TapTap Send accepts the following cards:
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- Visa Electron
- Mastercard
- Maestro
- PostePay
- Bancontact
- SOFORT
Transfer Limits
TapTap Send does not specify fixed transfer limits for users sending money from Canada. Typical maximums include USD 2,500 for mobile wallet transfers and USD 1,000 for cash pickups, but these may vary. Completing account verification by submitting a government-issued ID and selfie can increase sending limits and lift restrictions on larger transfers.
Transfer Time
Generally, Taptap Send transfers are expected to arrive within minutes. The service provides an estimated transfer time on the confirmation screen.
Important Update: Taptap Send is pleased to announce that money transfers to Ghana are now fully restored. After fruitful and positive engagement with the Bank of Ghana, the pause was lifted earlier than the initially imposed month-long timeline.
We would like to express our deepest and most sincere appreciation to our customers for their patience, love, and continued support in what has been a really difficult time of inconvenience. You, our customers, are the reason we’ve been the number one app for sending money to Ghana. We do not take this for granted, and we will continue to work tirelessly to always be there for you.
How to Use TapTap Send to Send Money to Ghana - Step by Step
Fees and Charges
Taptap Send may charge a transfer fee depending on the country you are sending money to. However, since the fees are not fixed, they can vary, which may be confusing for some users. Additionally, the service earns a small margin on the difference between the exchange rate it receives from its partners and the rate that customers receive on their transfers.
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Safety and Security
Is Tap Tap money transfer secure? Taptap Send is regulated and authorized to conduct money transmission in multiple countries and uses state-of-the-art encryption technology to protect payments and data, fully complying with GDPR and PCI requirements. The safety of your money is our top priority, and we take several steps to ensure its security.
In the UK, for instance, Taptap Send is an electronic money institution (EMI) regulated by the Financial Conduct Authority (FCA), which offers different protections compared to banks.
Security Features
Tap Tap enhances security by requiring identity verification and offers two-factor authentication for an added layer of protection.
The platform also uses advanced fraud detection technology to monitor transactions and block suspicious activities. In case of unauthorized access, Tap Tap provides account recovery processes to lock your account and secure your funds.
Pros and Cons of Using Tap Tap
Pros
- Minimal fees, saving users money compared to traditional transfer services.
- Easy-to-use mobile app allows users to send money anytime, anywhere.
- Send money to over 140 countries.
- Robust security measures protect personal information and funds.
Cons
- Fees vary by destination, which can cause confusion for users.
- Additional documentation may be needed when sending larger amounts, which can be inconvenient.
- Corporate cards and American Express are not accepted, limiting payment options.
- Regulatory restrictions may cause delays or limitations on certain transfers.
Customer Reviews
Reviewers overwhelmingly had a great experience with this company. People appreciate the service for its speed and reliability in transferring funds. Customers highlight the user-friendly interface of the app, which makes sending money quick and easy. The delivery service is also praised for its efficiency. The app is commended for its low fees and favorable exchange rates. Users also appreciate the helpful and efficient support service.
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Summary of Key Aspects
| Aspect | Details |
|---|---|
| Fees | Minimal, but vary by destination |
| Exchange Rates | Competitive, close to real-time rates |
| Transfer Time | Typically within minutes |
| Security | Regulated, encrypted, with two-factor authentication |
| Payment Methods | Visa, Mastercard, Maestro and more |
Trademark Disclaimer: Tap Tap* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.
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