FAQs - Yellow Pay
Yellow Pay is a seamless and secure way to send and receive money across African borders instantly! Below is a non-exhaustive list of questions about our new solution, with concise answers designed for you.
What is Yellow Pays and why do I need it?
Yellow Pay is a seamless and secure way to send and receive money across African borders instantly!
We know that your goal is not only to have access to the new universe of cryptocurrencies but also to carry out other financial operations in all serenity. For example, here at Yellow Card Financial, we understand how important it is for you to be able to provide for your family, friends, or business partners by sending them money within your jurisdiction and wherever they are in Africa safely.
Well, this is now possible with our brand new solution Yellow Pay, via your Yellow Card app. Yes, you already have it in your hands! 😉
Tell me more
Yellow Pay is a money transfer service that allows Yellow Card customers to send or receive money with ease.
To bring you closer to your relatives, our new solution offers you the possibility to provide them with funds across Africa at the best rate on the market, without extra charges and instantly.
Yes, just like sending a text message.
By using Yellow Pay, you can:
- Send money to family and friends
- Perform business transactions in other countries
That way, money sent through Yellow Pay reaches the recipient anywhere in Africa at record speed without extra charges.How does Yellow Pay work?
When you send money via Yellow Pay to another Yellow Card customer, we convert it from your local currency to USDT stablecoin so that it gets to them instantly at no extra cost. Before it lands in their wallet, we convert it back to their local currency, and they can withdraw it without stress. Learn More about How Yellow Pay Works.
What is Yellow Pay pricing?
Yellow Pay pricing is based on USDT - a stablecoin that we use for conversion from the sender to the recipient. There is NO FEE for sending funds, but you must accept our exchange rate. You can check the exchange rate from the Pay tab of your application.
How do I create a Yellow Pay Account?
As a Yellow Card customer, you do not need a different account nor access to use Yellow Pay. Once you have a valid Yellow Card account, you can readily access the Yellow Pay feature.
Can I send money to Yellow Card non-users?
Yes. Yellow Card customers can send money to non-Yellow Card customers. However, the recipient(s) will be required to sign up and get verified on Yellow Card before they can access the funds.
What happens if the recipient doesn’t sign up on Yellow Card?
If you send money to a recipient who isn’t currently signed up on Yellow Card, they will have 7 days to create and verify an account with the phone number you have used to send money to them. If they fail to complete this process, the full value of the money will be reversed to your wallet.
Will we receive email confirmations/receipts for successful transactions?
Both you and your recipient will receive an email and SMS notification with details of the funds sent.
Where can I withdraw my Yellow Pay money?
You can withdraw money from your Yellow Card account via the payment methods available in your country, such as Bank Transfer or Mobile Money.
Are there any requirements for me to have access to Yellow Pay?
To start using Yellow Pay and sending money to other Yellow Card customers, you must comply with our KYC policy and verify your account.
Can I convert my Yellow Pay money to crypto?
To convert to crypto, you can buy from the variety of coins available through the Wallet tab.
Can I pay my bills using Yellow Pay?
Yes, it would be possible to use money received in your wallet to pay your bills and others. However, performing these operations from the app is impossible. It will be necessary to make a withdrawal to proceed with daily operations.
What is the time interval for a transaction using Yellow Pay?
Transactions on Yellow Pay are instant, and the recipient will get a notification upon your sending.
Can I send money within my own country?
Yes, you can send money within and outside your country to any country where Yellow Card is operational.
Do I need a bank account to use Yellow Pay?
No, all you need is a Yellow Card account. However, you may need a bank account or mobile phone service to deposit funds into your Yellow Card wallet to use the Yellow Pay service. Another option is to sell cryptocurrency for your local currency and use that to send money via Yellow Pay.
What are the benefits of Yellow Pay?
- Instant delivery
- Seamless and secure
- Best rates
How do I fund my Yellow Pay account?
To fund your Yellow Pay account, you need to fund your local currency wallet, and you will be able to send money via Yellow Pay.
What currencies can I use via Yellow Pay?
You can use your local currency, which will be converted to crypto for execution. The recipient will also receive crypto, which will automatically be converted to their local currency.
What are the daily, weekly, and monthly transfer limits?
The transfer limits are subject to verification and at the respective tier for which one has been successfully approved under the KYC procedure.
Can I have my balance in multiple currencies?
Using Yellow Pay, you can only have one (1) fiat (or local) currency balance linked to your country of residence.
Can I request money from someone?
Currently, you can only send and receive payments with Yellow Pay. This “request” feature will allow you to make a request for money from another Yellow Card customer when it is launched.
How can I receive money sent to me on Yellow Pay if I don’t have an account?
If you have been sent money on Yellow Pay, you have to create a Yellow Card account with the same number that the money was sent to. Once you verify the account, you will be able to withdraw the money or use it on Yellow Card.
Can I send to or receive money from abroad with Yellow Pay?
Yellow Pay is only available for transfers within African countries where Yellow Card is currently operational.
What is Yellow Card’s exchange rate?
Yellow Pay transfers are based on USDT conversions to local currencies and it varies based on market movement. The current rate can be found in the app at any time.
Can I cancel a Yellow Pay transfer?
Transfers to existing Yellow Card customers via Yellow Pay are instant, so once you send it and the recipient receives it, it cannot be reversed.
Transfers sent to non-customers will only be reversed to your wallet if the recipient fails to sign up and verify their account within 7 days
Thank you for choosing Yellow Card.