Freedom251 › Money Transfer Apps
Wave
by WAVE
What Wave is
Wave is a mobile money service delivered through Android and iOS apps. It supports deposits, withdrawals, money transfers, bill payments, and airtime purchases, with instant transfers and transfer tracking listed. Sending money costs 1%, while depositing, withdrawing, and paying bills are free; airtime is available through the mobile money plan. Wave advertises toll-free telephone support and describes its goal as building an inclusive financial network across Africa. In The Gambia, the Wave wallet represents electronic money rather than a checking or other bank account. Customers there must provide valid identity documents, with Wave agent assistance for identity verification, and transactions require a secret PIN or another required authorization method. Gambia terms set KYC1 balance and 30-day inflow limits at 20,000 GMD, while KYC2 sets 200,000 GMD balance and 1,000,000 GMD 30-day inflow limits. Wave says it protects personal data and does not sell it for direct marketing without consent.
Who it suits
Wave suits mobile users who need deposits, withdrawals, transfers, bill payments, or airtime through Android or iOS. Gambia users should consider the stated identity checks, authorization, and wallet limits.
What it does well
- Android and iOS apps
- Instant transfers with tracking
- Deposits, withdrawals, and bill payments free
- Toll-free telephone support
- Security measures and restricted data access
What to know first
- Sending money costs 1%
- No free trial is listed
- Gambia wallet is not a bank account
- Gambia transactions require identity verification
Plans
| Plan | Billed and limits | Price |
|---|---|---|
| Wave mobile money | Cash deposits and withdrawals, bill payments: free · Money transfers: 1% · Airtime available | On request |
As wave.com lists them, read 12 Oct 2026. The maker's own page has the final word.
Verdict
Wave offers a broad mobile money feature set with instant transfers and free deposits, withdrawals, and bill payments. Costs, identity requirements, and limits vary by the listed terms, including specific rules for The Gambia.
Facts from WAVE's own pages
- Account type
- The Gambia terms say a Wave mobile wallet is electronic money and does not create a checking account or other bank account. · wave.com, 12 Oct 2026
- Company entity
- Wave Digital Finance SA is a member firm of the Wave Mobile Money Group and was created on March 29, 2021, in Senegal. · wave.com, 12 Oct 2026
- Customer support
- Wave advertises toll-free telephone support for instant customer help. · wave.com, 12 Oct 2026
- Data use
- Wave says it does not sell users’ personal data to third parties for their direct marketing except with user consent. · wave.com, 12 Oct 2026
- Founded
- 2017 · wave.com, 28 Sept 2026
- Free services
- The homepage says depositing, withdrawing, and paying bills are free. · wave.com, 12 Oct 2026
- Identity verification
- The Gambia terms say customers must provide valid identity documents and Wave agent assistance is used for account identity verification. · wave.com, 12 Oct 2026
- Intended users
- Wave describes its mission as building an inclusive, affordable financial network for users across Africa. · wave.com, 12 Oct 2026
- Limits
- For The Gambia, the terms specify KYC1 balance and 30-day inflow limits of 20,000 GMD, and KYC2 balance and 30-day inflow limits of 200,000 GMD and 1,000,000 GMD respectively. · wave.com, 12 Oct 2026
- Mobile platforms
- both · wave.com, 22 Sept 2026
- Privacy and security
- Wave says it uses security measures to prevent personal data from being lost, disclosed, or used without authorization, and limits access to people with a business need to know. · wave.com, 12 Oct 2026
- Product
- Wave offers mobile money services through a mobile app, including deposits, withdrawals, transfers, bill payments, and airtime purchases. · wave.com, 12 Oct 2026
- Regulatory status
- Wave Digital Finance says it received an electronic money issuer license from BCEAO on April 14, 2022. · wave.com, 12 Oct 2026
- Transaction authorization
- The Gambia terms say transactions must be authorized with a secret PIN or another method Wave may require. · wave.com, 12 Oct 2026
- Transfer fee
- The homepage says sending money costs 1%. · wave.com, 12 Oct 2026
- Transfer speed
- instant · wave.com, 22 Sept 2026
- Transfer tracking
- Yes · wave.com, 22 Sept 2026
Where Wave stands on Freedom251
- Money Transfer Apps#59 of 81