FAQs - Yellow Pay
Yellow Pay is a seamless and secure way to send and receive cash across African borders instantly! Below is a non-exhaustive list of questions about our new solution, with clear 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 cash 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 cash 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 transfer service that allows Yellow Card customers to send or receive cash with ease.
To bring you closer to your relatives, our new solution allows you to provide them with funds across Africa at the best rate on the market, without extra charges and instantly.
Yes, it's just like sending a text message.
By using Yellow Pay, you can:
- Send cash to family and friends
- Perform business transactions in other countries
That way, cash sent through Yellow Pay reaches the recipient anywhere in Africa at record speed without extra charges.
How does Yellow Pay work?
When you send cash 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 to convert funds from the sender to the recipient. There is NO FEE for sending funds, but we kindly ask that you 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 or access to use Yellow Pay. You can readily access the Yellow Pay feature once you have a valid Yellow Card account.
Can I send cash to non-users of Yellow Card?
Yes. Yellow Card customers can send cash to non-Yellow Card customers. However, the recipient(s) must sign up and be verified on the Yellow Card before they can access the funds.
What happens if the recipient doesn’t sign up for Yellow Card?
If you send cash to a recipient who isn’t currently signed up on Yellow Card, they will have seven days to create and verify an account with the phone number you have used to send cash 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 cash sent.
Where can I withdraw cash sent to my Yellow Pay?
You can withdraw cash from your Yellow Card account using 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 cash to other Yellow Card customers, you must comply with our KYC policy and verify your account.
Can I convert my Yellow Pay cash to coins?
To convert to coins, you can buy from the variety of coins available through the Wallet tab.
Can I pay my bills using Yellow Pay?
Certainly, you can use the cash in your wallet to pay bills and other expenses. However, you cannot perform these actions directly from the app. Instead, you'll need to make a withdrawal to carry out your daily financial transactions.
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 cash to my own country?
Yes, you can send cash 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 coins for your local currency and use that to send cash 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 then you can send money via Yellow Pay.
What currencies can I use via Yellow Pay?
You can use your local currency, which will be converted to stablecoins for execution. The recipient will also receive coins, 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 cash from someone?
Currently, you can only send and receive payments with Yellow Pay. This “request” feature will allow you to make a request for cash from another Yellow Card customer when it is launched.
How can I receive cash sent to me on Yellow Pay if I don’t have an account?
If you have been sent cash on Yellow Pay, you have to create a Yellow Card account with the same number to which the cash was sent. Once you verify the account, you can withdraw the cash or use it on Yellow Card.
Can I send or receive cash from outside Africa 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 they vary 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 seven days.
Thank you for choosing Yellow Card.