Mukuru Detailed Review

Rates, Fees, Limits, Safety and More

Last updated: May 20, 2024

What is Mukuru? An introduction

Mukuru is a leading next generation financial services platform in Southern Africa that offers affordable and reliable financial services to a customer base of over 14 million across Africa, Asia and Europe.

With over 100 million transactions to date, Mukuru's core was built for providing international money transfers and from this base, they have developed a set of services to address the broader financial needs of their customers. Mukuru now operates in over 50 countries and across over 300 remittance corridors.

Mukuru company information

Mukuru is a business that puts the customer at the center of everything they do, and for that reason, they serve clients across physical and digital channels, by various payment methods (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact center, App, website, agents and a branch and booth network.

Mukuru has, for the fourth consecutive year, been listed as one of the top 100 Cross Border Payments businesses in the world in the 2023 FXC Intelligence Top 100 Cross-Border Payment Companies¹, one of only six African companies to receive this accolade.

Mukuru was also celebrated for innovation and excellence at the 2023 Africa Tech Festival Awards, receiving the Fintech Innovation of the Year Award - an acknowledgment of the transformative power of financial technology in driving economic growth, financial inclusion, and digital transformation.

In April 2023, Mukuru officially ranked sixth on the 2023 LinkedIn Top Companies List in South Africa.

Mukuru by the numbers

The below statistics help put Mukuru's financial and customer reach and impact in perspective.

• About 5 million website visitors per year
• Over 14 million customers
• Over 100 million transactions completed
• Coverage in over 50 countries and across over 300 remittance corridors
• 320,000 pay-in and payout locations across many countries
• 150 Info Centers across South Africa
• 1000+ Orange Booths across Africa
• Global customers across Africa, Asia and Europe

Mukuru is an African international financial services company that serves 10s of millions of customers across Africa, Asia and Europe.

What services does Mukuru provide?

Mukuru is Africa's leading financial services platform giving you access to money transfers, card services, loans, funeral cover & more.

Here is a subset of some of Mukuru's various financial products and services:

• Send money internationally: Mukuru specializes in helping its global customers send money abroad using its platform. There are numerous money transfer corridors available - more on these later in our detailed Mukuru review.
• Mukuru Card (only in South Africa): The Mukuru Card allows you to easily send money locally and internationally using the funds on your card to over 50 countries including Zimbabwe, South Africa, Mozambique and more.
• MukuruPay: With MukuruPay, shopping online becomes much more easier. Shop online and pay in Cash with MPay. This service is currently available only in South Africa.
• Malawi Mukuru Pay: MPay brings you seamless bill payments at Mukuru's Branches and Booths, providing you with a convenient solution for settling your bills in Malawi.
• Zimbabwe Mukuru Pay: Pay your DStv with MukuruPay Pay as little as $1 in fees at over 200 Mukuru Booths or Branches across Zimbabwe.
• Mukuru Funeral Cover (South Africa only): Planning your funeral might be the last thing on your mind, but do not let your loved ones carry the burden. Mukuru Funeral Cover facilitates easy and convenient funeral planning.
• Mukuru Funeral Benefit (South Africa only): With Mukuru Funeral Benefit, get rewarded with financial benefit worth up to R15,000 at zero cost to you when sending over R700 every month.
• Mukuru Groceries: With Mukuru Groceries, your loved ones can easily receive groceries and stationery in Zimbabwe. Currently, this service is available from Botswana, Malawi, Zambia and South Africa to Zimbabwe.
• Mukuru Money Matters: Mukuru also provides useful financial literacy and education across all its active markets with Mukuru Money Matters.
• Mukuru Wallet: Send money locally and internationally anywhere, anytime from your phone using Mukuru Wallet. This useful service is currently available in Botswana and Malawi.
• Mukuru Enterprise Payment Platform: Mukuru's Enterprise Payment Platform offers aid organizations and employers a tech-based solution to distribute aid and pay employees across South Africa, Botswana, Malawi, UK, Zambia, and Zimbabwe.

Mukuru is a financial services platform that helps customers by offering numerous financial products. Services include international money transfers, Mukuru Wallet, funeral planning, groceries, financial education and more.

Which countries does Mukuru operate in?

Mukuru is trusted by businesses and customers in over 50 countries across Africa, Europe, Asia & the USA. Below, we look at Mukuru's supported source and destination countries across the aforementioned global regions.

Where can I send money from with Mukuru?

You can send money using Mukuru from South Africa, Zimbabwe, Malawi, Botswana, Zambia, Eswatini, Lesotho, United Kingdom, Kenya, and Uganda.

Where can I send money to with Mukuru?

Mukuru's destination country and currency coverage is pretty wide; currently, you can send money with Mukuru to Zimbabwe, Zambia, Austria, Bangladesh, Belgium, Botswana, Bulgaria, Burundi, Cameroon, China, Cote d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Democratic Republic of Congo, Estonia, Eswatini, Ethiopia, Finland, France, Germany, Ghana, Greece, Hungary, India, Ireland, Italy, Kenya, Latvia, Lesotho, Lithuania, Luxembourg, Malawi, Malta, Mozambique, Netherlands, Nigeria, Pakistan, Poland, Portugal, Romania, Rwanda, Slovakia, Slovenia, Somalia, South Africa, Spain, Sweden, Tanzania, Uganda, United Kingdom, and United States.

In summary, you can send money with Mukuru from 10 countries to 53 global destinations. This brings Mukuru's current international money transfer corridor coverage to 530 country combinations.

Mukuru facilitates international money transfers between 530 diverse country combinations across the world.

What are Mukuru's fees and exchange rates?

When you use Mukuru to send money abroad, you can bank on a competitive exchange rate. By keeping an eye on currency markets, Mukuru ensures that you get the best deal.

Mukuru also provide detailed information about exchange rates and other fees, so you can easily track your money transfer. This ensures that your money goes further, and you do not have to worry about costly currency conversions.

Are Mukuru exchange rates good?

Your goal is to maximize the amount your recipients receive, and Mukuru's structure is designed to do just that.

By keeping fees low and ensuring competitive rates, you are not just sending money with Mukuru; you are sending more opportunities for your family and friends to grow, invest, and stabilize their financial future.

That said, we always suggest to our readers to always shop around and see what other remittance service providers are offering. More information will help you best choose a partner to send money with. When you compare money transfer providers, the chances of your getting the most benefit on your international money transfers increase significantly.

Whilst you can compare remittance companies manually, a quick and convenient way to do so is to rely on RemitFinder's online money transfer comparison engine. RemitFinder compares umpteen providers side-by-side to give you accurate and updated information about exchange rates and deals.

Is Mukuru a cheap way to send money overseas?

Cost is a critical factor when sending money overseas. Mukuru shines in this aspect by offering competitive exchange rates and low transfer fees.

How do I avoid Mukuru fees?

At this time, it is not possible to fully avoid Mukuru's money transfer fees. That said, Mukuru's fees tend to be low, and their competitive exchange rate makes up for the money you lose in fees.

How much money can I send with Mukuru?

Mukuru's money transfer limits vary by country. In many cases, you can send pretty high amounts as long as you have provided the necessary documentation.

Let us look at Mukuru's sending limits for all countries where you can send money from with Mukuru.

South Africa

As a new customer, you will be cleared to send up to a specified amount on your account. If you registered with a South African ID, you can send up to ZAR 1,000,000. If you registered with a foreign ID, you may send up to 12 times your monthly income – this is based on your proof of income.

Botswana

Mukuru's daily transaction limit for Botswana is BWP 10,000 with a monthly limit of BWP 200,000.

Zimbabwe

Mukuru's sending limits for Zimbabwe vary for international and domestic money transfers, and are as below:

• International Money Transfer: Send up to USD 5,000 per day/week, USD 20,000 per month and USD 50,000 per year.
• Domestic Money Transfer: Send up to USD 500 per day, USD 5,000 per month and USD 20,000 per year.

Malawi

Mukuru's sending limits for Malawi also differ for international and domestic money transfers, and are as below:

• International Money Transfer: Send up to MWK 300,000 per month
• Domestic Money Transfer: Send up to USD 2,000 or equivalent per month

United Kingdom

If you verify your identity with Mukur by providing the needed documentation, you are granted the Mukuru LITE user status. Mukuru LITE users can send up to GBP 600 per month.

In case your identity verification is unsuccessful, you can submit an identity document and selfie to be verified as a Mukuru CORE user. To do this, select Upload Documents on your Mukuru dashboard. Upload one of the following forms of identity documents: International Passport, UK Driving License, or UK Biometric Residence Permit.

Mukuru CORE users are able to send up to GBP 4,000 per month.

If you wish to send even higher amounts, you will need to elevate your Mukuru account to Mukuru MAX level. You can do this by uploading your proof of income and proof of address documents.

Mukuru MAX account holders in the UK can send up to GBP 120,000 per calendar year.

Mukuru's sending limits in the UK depend on your membership level. Mukuru LITE users can send GBP 600/month, CORE users can send GBP 4,000/month whilst MAX users can send GBP 120,000/year.

Uganda

Mukuru users in Uganda can send up to USD 10,000 per month and up to USD 120,000 per year.

Kenya

Mukuru users in Kenya can send up to USD 15,000 per month and up to USD 180,000 per year.

Zambia

If you are trying to send money with Mukuru from Zambia, you can send up to ZMW 100,000 per day.

Eswatini

As a new customer in Eswatini, you will be cleared to send up to a specified amount on your account. If you registered with a Eswatini ID, you can send up to SZL 1 million a year. If you registered with a foreign ID, you may send up to 12 times your monthly income.

Lesotho

As a new customer in Lesotho, you will be cleared to send up to a specified amount on your account. If you registered with a Lesotho ID, you can send up to LSL 1 million a year. If you registered with a foreign ID, you may send up to 12 times your monthly income.

Mukuru's sending limits vary by country. You can increase your sending limit by verifying your account and providing additional documentation.

How long does it take for Mukuru to send money overseas?

Most Mukuru money transfers finish within 24 hours! This makes Mukuru a reasonably fast way to send money overseas.

Mukuru international money transfers are completed within 24 hours. Mukuru can be a good choice if you need to send money abroad quickly.

How can I pay for my Mukuru money transfer?

To be able to complete an international money transfer, you first need to send your funds in local currency to the money transfer company you choose. The mechanism to pay for your remittance transaction is called a payment method.

Mukuru supports multiple payment methods to enable you to pay for your money transfer with them; these are listed below.

• Cash: You can pay for your Mukuru international money transfer with cash by visiting any of Mukuru's branches or retail partners. Please remember to quote your order number as the reference so that Mukuru can track your payment.
• Bank Transfer: Mukuru also accepts bank transfers. You can do this by transferring money to Mukuru's bank accounts using the online banking or telephone banking options offered by your bank account. Please remember to quote your order number as the reference so that Mukuru can track and match your payment. Mukuru's banking details will be sent to you if you choose to pay via one of their banking partners.
• Mukuru Card (South Africa only): If you are sending money overseas with Mukuru from South Africa, you can also pay using your Mukuru prepaid debit card. Your card will only appear as a payment option if you activated the card and the balance in it is enough to cover your order amount.

Mukuru supports cash and bank deposit as standard payment methods to pay for your money transfer with them. South African customers can also pay with their Mukuru Card.

Which payment method should I use to pay for my Mukuru money transfer?

Whilst there is no right or wrong answer to this question, the ultimate choice of which Mukuru payment method to choose depends on your circumstances and needs.

Cash payments are faster as Mukuru will get your money instantly. However, there may be a safety concern in carrying cash to a Mukuru branch office or agent location, especially for higher value transfers.

On the other hand, bank transfers are safer than cash, but it may take a day or two for Mukuru to receive your funds. Public or bank holidays and weekends may introduce further delays.

You should choose the right payment method for your Mukuru transfers keeping safety and speed in mind.

For urgent transfers, you can send smaller amounts via cash. For larger amounts, we recommend choosing bank transfer as it is fully safe.

How can my recipient get paid with Mukuru?

The method you choose to credit your overseas receiver is generally called a delivery method. Mukuru supports the following delivery methods:

• Cash Pickup: If Mukuru supports cash pickups in your recipient's country, they can simply go to an agent or partner location to pick up the money in person. Note that they will need to take a photo ID to pick up the funds.
• Bank Deposit: Mukuru supports bank deposits to many popular banks across many of the destination countries they support. In this case, the funds will be deposited directly into your overseas recipient's bank account.
• Mobile Wallet Credit: In some countries, Mukuru also supports credit into mobile wallets. If your destination country supports mobile wallets, you will see this option when you start your money transfer transaction with Mukuru.

Mukuru allows you to pay your overseas recipient using cash pickup, bank deposit or mobile wallet credit.

Mukuru will send your recipient a voucher number via SMS/WhatsApp with collection details. They will need to take the voucher number and their proof of ID to one of Mukuru's Branches, Booths or Collection Partners. Mukuru's partners vary from banks, retail outlets and mobile wallets.

Which delivery method should I use for my Mukuru money transfer?

All of Mukuru's supported delivery methods - cash pickup, bank deposit and mobile wallet credit - are convenient ways to send money abroad. The choice of which one you could use depends on your and your recipient's needs and preferences.

For example, if your recipient needs the money quickly, choose cash pickup as they can simply go to a Mukuru location and pick up the money. The downside of cash pickups is safety and security risks of carrying cash. Whilst cash is probably OK for smaller amounts, try not to rely on this method for higher value transfers.

If you do not want your recipient to deal with cash, choose bank deposit or mobile wallet credit. Both of these are digital ways to receive money and no cash handling is needed.

Finally, in some circumstances, your recipient may not want to share their bank information with you. In such cases, choose mobile wallet credit, if available, otherwise, cash.

Are there any Mukuru coupon codes or promotions I can use?

At this time, there are no Mukuru coupon codes or deals available.

If Mukuru runs any offers or promotions in the future, we will add them on this page. Check with Mukuru review periodically to ensure that you do not miss out on any future deals.

Whilst you can check for Mukuru deals and discounts manually, doing so is time consuming. A better way is to sign up for the RemitFinder daily exchange rate alert. Our daily alert is totally free of cost; we will keep you posted on exchange rates and latest offers from many money transfer companies.

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How can I find Mukuru near me?

In case you decide to deal with cash - either when paying for your Mukuru transfer or when paying your overseas recipient - you can go to a Mukuru nearby branch office or agent location to transact in-person.

Simply go to the Mukuru website and search for nearby Mukuru branches or booths². You can enter your location and search radius to see which locations are closer to you.

What is the best way to find a Mukuru Sending Location near me?

If you wish to pay for your international money transfer with Mukuru via cash, you will need to go to a nearby location to hand over your funds to Mukuru.

To find a convenient Mukuru sending location nearby, simply search on Mukuru's website for the closest branches or booths².

Why should I go to an Mukuru Sending Location to send money in person?

The most common reason you would want to go to a nearby Mukuru branch to send money is to pay for your money transfer with cash. The advantage of paying with cash is speed - since Mukuru gets your funds in cash, they can start working on your international transfer right away.

What is the best way to find an Mukuru Payment Location overseas?

If you are sending money overseas with Mukuru and choose to pay your recipient via cash pickup, they can easily locate a nearby Mukuru payment location. To do this, your recipient should search on the Mukuru website to locate a nearby branch or booth to pick up the funds from.

Is Mukuru a safe way to send money abroad?

Mukuru has many measures in place to ensure the safety and security of their customers' funds and personal information. Below, we present some of these.

• Mukuru implements a comprehensive Information Security Management System (ISMS) that encompasses various security standards like ISO/IEC 27001, NIST, OWASP Top 10, CoBIT and CIS.
• Mukuru also implements the POPIA and GDPR regulations to ensure security and safety of customer and partner information that is entered into their systems.
• Ongoing risk management and evaluation is another key activity that helps Mukuru IT and Security teams stay on top on ongoing challenges and threats.
• Mukuru implements strict access controls that limit access to information on a purely need-to-know basis, following the security best practice of the principles of least- privilege.
• Mukuru technology systems are built using the latest technologies that include, but are not limited to, HTTPS, VPN, IPSEC, AES-256 encryption, TLSv1.2+ and other network and firewall standards.
• All physical offices and locations that Mukuru team members operate out of are physically secured and monitored using two-factor authentication, access controls, perimeter controls, CCTV surveillance, and physical security where possible.
• Mukuru also does know-your-customer (KYC) due diligence to ensure that you claim who you are and that your account is not opened by someone else.

Mukuru's commitment to security, compliance, customer service, and transparency ensures that your financial voyages are not just successful but also secure. Whether you are sending money home, supporting loved ones, or managing international investments, Mukuru strives to stands as a steadfast ally in the quest for safe and efficient financial transactions.

Mukuru implements many security measures and best practices to ensure that your money transfers with them are safe and secure.

Can I trust Mukuru?

A major aspect of trusting a financial institution entails inspecting their legal and regulatory status in the countries of their operation. When it comes to Mukuru, we notice the below pertinent information:

• Mukuru Financial Services (Pty) Ltd is registered in South Africa as an authorized Financial Services Provider (registration no. FSP45517). Additionally, the company is also registered as a Credit Provider (registration no. NCRCP9244).
• Mukuru is owned and operated by Remitix Limited which is a UK company (registration no. 05270734) with its registered office at 12 Old Mills Industrial Estate, Paulton, Bristol, BS39 7SU, England, United Kingdom. Remitix Limited is regulated by the Financial Conduct Authority (FCA) in the United Kingdom (registration no. 576623) as a regulated authorized payment institution.

Mukuru adheres to international security standards and regulations, ensuring that its practices meet the strict requirements set for financial institutions.

How good is Mukuru's service?

Exceptional customer service is the backbone of any successful service, and Mukuru prides itself on being there for its customers every step of the way.

One of the most reliable ways to check if a service is good or not is to see what other customers have to say about it. We will do the same to see if Mukuru's customers are happy with their service or not.

What do users have to say about Mukuru?

In this section, we look into Mukuru's ratings and reviews^ on popular review platforms and major mobile app stores to see what users think about their service.

• On Trustpilot, Mukuru is rated 1.6/5.0 with 191 reviews
• On the Google Play Store, Mukuru is rated 4.0/5.0 with 9.23K reviews and more than 100K downloads
• On the Apple App Store, Mukuru is rated 4.7/5.0 with 1.9K ratings

^Ratings on various platforms as on May 18, 2024

Mukuru has excellent ratings on Apple App Store and Google Play Store; customers seem to like the Mukuru mobile app. On the other hand, Trustpilot ratings are low.

Have you used Mukuru yet? If so, please consider leaving a review on RemitFinder so other users can benefit from your expertise and experience.

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Is Mukuru the best choice for me?

Given our detailed analysis of Mukuru international money transfer service and related aspects, it is clear that Mukuru has many strengths. Here are some areas where we find Mukuru standing tall in the international remittance use case:

• Wide corridor coverage in Africa: Mukuru lets you send money amongst 530 country combinations with a strong focus on sending money out of Africa. We find this somewhat unique as there are not a lot of top notch money transfer companies that help customers send money from Africa. Whilst there are many companies that facilitate money transfers into Africa, Mukuru caters for the other way around, i.e., sending money from Africa.
• More than just a money transfer operator: The Mukuru financial ecosystem is comprised of various products and services that, in addition to international money transfers, includes several products like MukuruCard, MukuruPay, Mukuru Funeral Cover and Benefit, Mukuru Wallet and much more.
• Competitive exchange rates: Mukuru strives to provide a competitive exchange rate and charges low fees. This helps you maximize the reach of your hard-earned money so you can put more funds in your overseas recipient's pocket.
• Generous sending limits: Mukuru's sending limits are fairly generous. You can send even more money with Mukuru by providing additional documentation and elevating your Mukuru account level.
• Fast money transfers: Mukuru money transfers finish in under 24 hours. This makes Mukuru a fast way to send money abroad. So, if you need to send funds overseas urgently, you can rely on Mukuru.
• Flexible payment and delivery options: Mukuru gives you plenty of choice when it comes to payment and delivery methods. Supported payment methods include cash, bank transfer and Mukuru Card (South Africa only) and delivery methods include cash pickup, bank deposit and mobile wallet credit.
• Strong focus on safety and security: Mukuru implements numerous security standards and best practices to keep your confidential information and money safe. Mukuru is also registered and regulated in the countries it operates in.
• Excellent ratings on app stores: The Mukuru mobile app has excellent ratings on popular mobile app stores like the Apple App Store and the Google Play Store. This indicates that users like their mobile app.

RemitFinder likes Mukuru for providing strong coverage in African countries, a comprehensive financial services platform, competitive exchange rates and low fees, high sending limits, quick international money transfers, a variety of payment and delivery methods, a highly secure platform and a highly rated mobile app.

In summary, Mukuru is a secure and reliable money transfer service specifically designed for people sending money from and to Africa. The platform is simple to use and provides a safe and convenient way to transfer money around the world.

When you use Mukuru, you can choose from a variety of transfer options, including bank transfers, digital wallets, and cash pickups. All transfers are completed quickly and securely, and Mukuru also offers an excellent customer service team to answer any questions you may have.

What are the best reasons to use Mukuru?

Mukuru's key advantages make it a very good choice for quite a few international money transfer use cases. Based on the in-depth analysis that we have conducted on Mukuru's remittance service in prior sections of this review, we notice that it can be a great fit for many international money transfer scenarios.

Here are some examples where Mukuru can prove to be a reliable ally for your next overseas funds transfer.

• If you need to send money out of Africa, Mukuru is a very good choice to do so. There are not many remittance companies that operate out of Africa, so it may seem hard to send money from African countries. That is where Mukuru comes in! You can rely on Mukuru's international remittance service for your out of Africa money transfer needs.
• Many remittance companies just specialize in money transfers, but Mukuru is a financial ecosystem with many more products like Mukuru Wallet, MukuruPay, Mukuru Groceries, Mukuru Funeral Cover and so on. This means that you can take advantage of numerous financial services with one Mukuru account.
• If you need to send higher amounts of money abroad, Mukuru can be a good choice as it allows generous sending limits. You can continue to increase your spending limits by providing additional documentation to Mukuru, and therefore, send more.
• Mukuru international money transfers finish under 24 hours. If you need to rush money to someone urgently, Mukuru can be a really good choice given its fast money transfers.
• Mukuru's flexible payment and delivery options provide a lot of creativity when it comes to various remittance needs and preferences. For example, if you wish to pay for your Mukuru transfer with cash, you can go to a nearby Mukuru location to drop off your funds. Similarly, if your overseas recipient only wants to receive the funds in their mobile wallet, Mukuru supports that.
• It is good to look for useful features in a money transfer company, but we always remind our customers to not lose focus on safety and security of your funds and information. Mukuru scores well on this front by its strict adherence to regulatory requirements as well as implementation of numerous security standards and industry best practices.
• Another area where Mukuru affords peace of mind to customers is its solid mobile app ratings and reviews. If you have never tried Mukuru before, it is relieving to know that other users have rated their mobile apps really well. This should help create a sense of positivity and confidence for new customers who are evaluating Mukuru for their next money transfer out of Africa.

Mukuru's strengths and advantages make it a very good choice for many money transfer scenarios for remitting money out of Africa.

Mukuru provides convenient, safe, inclusive and reliable financial services to African consumers rapidly emerging in an increasingly digitized world of opportunity. Whether sending money across Africa, paying for DStv, buying electricity, airtime and groceries, or saving money, there's Mukuru for that!

What type of transfers can I make with Mukuru?

Every money transfer is different as your and your overseas recipient's needs and preference change and evolve over time. The good news is that Mukur offers many methods and forms of sending money overseas.

Below are some of the ways in which you can send funds abroad to your friends and family using Mukuru.

• Mukuru Card (only in South Africa): The Mukuru Card allows you to easily send money locally and internationally using the funds on your card to over 50 countries including Zimbabwe, South Africa, Mozambique and more.
• South Africa Mukuru Pay: Mukuru Pay, also called MPay in short, makes it much easier to do online shopping online. Shop online at your heart's content and simply pay with MPay.
• Malawi Mukuru Pay: In Malawi, MPay brings you seamless bill payments at Mukuru's Branches and Booths, providing you with a convenient solution for settling your bills.
• Zimbabwe Mukuru Pay: If you are in Zimbabwe, pay your DStv with MukuruPay Pay as little as USD 1 in fees at over 200 Mukuru Booths or Branches.
• Mukuru Groceries: Instead of sending money, you can assist your family and friends in Zimbabwe with Mukuru Groceries which is an easy way for loved ones to receive groceries and stationery in their country. Currently, Mukuru Groceries is available only in Botswana, Malawi, Zambia and South Africa to send groceries to your loved ones in Zimbabwe.
• Mukuru Wallet: Send money locally and internationally anywhere, anytime from your phone using Mukuru Wallet. This useful service is currently available only in Botswana and Malawi.

With Mukuru, you can assist your overseas family and friends in more ways than just sending money. In addition to funds, you can send groceries, help with bill payments and fund your recipient's Mukuru Wallet.

What are various ways to send money with Mukuru?

You can place your Mukuru international money transfer orders in a variety of ways that include the below options:

• Via WhatsApp by messaging "Hi" to +27860018555
• Using your phone by dialing *130*566#
• By transacting online on the Mukuru mobile app 24*7
• By using the Mukuru Mobi site 24*7

Regardless of the channel you use to send money with Mukuru, simply start your international remittance order by selecting your recipient and specifying how much you would like to send.

How to send and receive money with Mukuru?

It is quick and easy to send money internationally with Mukuru. In fact, the whole flow from start to finish can be completed on any of Mukuru's channels to send money with in just a few minutes. Check out the section below for the exact steps needed to do an overseas money transfer with Mukuru.

Step by step guide to send money with Mukuru

With Mukuru, sending money overseas takes only a few clicks. Here are the steps you need to undertake to finish an end-to-end money transfer with Mukuru:

• Step 1: Decide if you want to send your next money transfer with Mukuru. With the recent explosion of money transfer operators, it may seem daunting to even choose who to go with. One helpful way to reach a decision is to compare various money transfer companies using RemitFinder's real-time money transfer comparison platform. RemitFinder does all the heavy lifting to assist you to easily compares the relative strengths and weaknesses of many remittance companies side by side. This can really help you to narrow down the choices that meet your selection criteria and therefore, help you to select who to go with.





• Step 2: Register your new Mukuru account. Once you have determined you want to send money with Mukuru, you need to create a new account with them. Signing up is quick and easy. Choose any 1 of these options with your ID/Passport in hand: WhatsApp +27860018555, Use the Mukuru Mobile App, Call toll free USSD *130*566#, or use the Mukuru Mobi Site.
• Step 3: Upload needed documents. After you choose the sign up method that suits your needs, you will need to submit a few documents to get started. This step ensures compliance with know your customer (KYC) regulations and helps Mukuru determine that you are acting on your own behalf and not someone else.
• Step 4: Add your overseas recipient. After successfully registering with Mukuru and providing the necessary documentation, add your overseas recipient by providing the required information. Note that you will need the recipient's name, address and bank details if needed.
• Step 5: Place your money transfer order. You can then place your international remittance order on any of the various Mukuru channels. Simply tell Mukuru how much money you want to send abroad, to whom and where you want to send money.
• Step 6: Make your payment. The next step in the process is paying for your Mukuru money transfer. You can do this in a variety of ways. For example, you can visit any of Mukuru's pay-in partners to send your money, or you can pay via EFT from the comfort of your home. Alternatively, if you have a Mukuru card you can simply choose your Mukuru card as your method of payment so that your order can be confirmed instantly.
• Step 7: Funds collection by overseas recipient. Depending on which delivery method you used to pay your overseas recipient, they will get the funds accordingly. For example, your recipient can collect their cash, receive it directly into their bank account or mobile wallet. And the best part of that since Mukuru transfers finish within 24 hours, your recipient can access the funds the same day.

It is quick and easy to send money overseas with Mukuru. The whole money transfer flow can be completed with just a few clicks in short time.

How can Mukuru help me send money?

With Mukuru, you can send money overseas quickly and easily.

You can place a new international money transfer order using one of Mukuru's mobile channels - WhatsApp, Mukuru mobile app or Mobi Site. You can also contact Mukuru's call center and they will help you to place your order.

Note that you will need to have your recipient's details close at hand.

Do I need a Mukuru account to receive money?

No, you do not need a Mukuru account to receive funds sent to you from overseas using Mukuru's money transfer service.

If you are receiving a Mukuru international money transfer and your sender chose cash pickup, you will be sent a voucher number via SMS or WhatsApp with collection details. You will need to take the voucher number and your proof of ID to one of Mukuru's branches, booths or collection partners.

If your sender chose bank deposit or mobile wallet credit as the delivery method, Mukuru will credit the funds directly into your bank account or mobile wallet.

If you are the recipient of a Mukuru international money transfer, you do not need to have a Mukuru account to access the funds.

Does Mukuru have a mobile app?

Yes, Mukuru does have a mobile app. You can download the Mukuru app from your app store - Mukuru currently has mobile apps for Android, iOS and Huawei devices.

Mukuru's mobile apps have very good ratings and reviews from customers. This seems to suggest that customers like using the Mukuru mobile app.

How do I track my Mukuru transfer?

You can view the status of your Mukuru international money transfers on your dashboard. Simply select the Transactions icon located on the navigation bar, or in the menu, and locate the transaction you wish to track.

Mukuru will keep you appraised on the progress of your international remittance sent with them by notifying you as your transaction progresses forward.

Can I use Mukuru for international bank transfers?

Yes, you can do international bank-to-bank transfers with Mukuru.

To simulate international bank transfers with Mukuru, simply pay for your international money transfer with your bank account. Similarly, choose bank deposit as the delivery method to pay your overseas recipient.

In this way, the whole process will be akin to an international bank transfer as the funds will go from your local bank account in your country directly into the overseas recipient's bank account in their country. All this with Mukuru's better exchange rates and low fees as compared to traditional banks that provide low exchange rates and charge exorbitant fees.

Is Mukuru online better than sending money in-person in stores?

This depends on your needs and preferences. Mukuru supports both in-person as well as digital money transfers.

If you wish to drop off your funds as cash, then you can choose to go to a convenient and nearby Mukuru sending location. Otherwise, you can choose to pay via a bank transfer or Mukuru Wallet (if available in your country).

Similarly, you can pick up Mukuru money transfer funds in-person at branches or booths if your sender chose cash pickup as the delivery option for the transaction. Alternatively, for bank deposits and mobile wallet credits, there is no need to go anywhere as the funds will be deposited digitally into your bank account or mobile wallet.

Ultimately, the choice between in-person transfers or digital remittances depends on your and your recipient's needs and preferences. The good news is that Mukuru supports both so you have the flexibility to pick the option that works for you.

Mukuru supports both in-person money transfers at Mukuru sending locations as well as digital transactions. You have the option to pick the method that works the best for you and your recipient.

Does Mukuru have a rewards program?

Currently, Mukuru does not offer a rewards program. If that changes in the future, we will update this detailed review with that information.

What customer support options are available with Mukuru?

In case you need any help with your Mukuru money transfer, or have any other general questions, you can contact the Mukuru customer support team.

There are many easy ways to get in touch with Mukuru customer support as below:

• By sending "Hi" to +27860018555 via WhatsApp
• By dialing *130*566# on your phone
• By calling +27860018555 from your phone
• By chatting from within the Mukuru mobile app
• By emailing support@mukuru.com
• By filling by a webform on the Contact Us page on Mukuru's website

Note that Mukuru's customer support team is available only between office hours.

Getting in touch with Mukuru's customer support team is easy. You can reach out via WhatsApp, phone, email, in-app chat and the website.

Can I cancel my Mukuru transfer?

If you think you executed your Mukuru money transfer by mistake, contact the Mukuru customer support department asap. They will be your most optimal partner to help cancel your money transfer.

Note that you can only cancel a Mukuru remittance transaction if your recipient has not received the funds yet.

If your overseas recipient has already received the remittance you sent to them, you cannot cancel the remittance transaction. In such scenarios, Mukuru will not be able to pay you back the money you sent or any transfer fees you were charged.

How do I delete my Mukuru account?

To close your Mukuru account on the App, select the Menu button, and go to Settings. Select Delete My Profile, and add the reason for leaving. Select Submit, and your request will be processed by Mukuru's privacy team.

Alternatively, you can email your account deletion request to privacy@mukuru.com.

If you wish to delete your Mukuru account, we recommend that you make a backup of your transaction history before doing so. Since you will no longer have access once your account has been deleted, saving your historical transactions could be useful for future reference purposes.

Additional Information

Legal and Regulatory Compliance

Mukuru Financial Services (Pty) Ltd is registered in South Africa as an authorized Financial Services Provider (registration no. FSP45517) as well as a registered Credit Provider (registration no. NCRCP9244).

Mukuru's owning parent company, Remitix Limited, is incorporated in the UK (registration no. 05270734) and has its registered office at 12 Old Mills Industrial Estate, Paulton, Bristol, BS39 7SU, England, United Kingdom. Remitix Limited is registered with the Financial Conduct Authority (FCA) in the United Kingdom (registration no. 576623) as a regulated authorized payment institution.

Awards, Prizes and News

Mukuru has, for the fourth consecutive year, been listed as one of the top 100 Cross Border Payments businesses in the world in the 2023 FXC Intelligence Top 100 Cross-Border Payment Companies¹, one of only six African companies to receive this accolade.

Mukuru was also celebrated for innovation and excellence at the 2023 Africa Tech Festival Awards, receiving the Fintech Innovation of the Year Award - an acknowledgment of the transformative power of financial technology in driving economic growth, financial inclusion, and digital transformation.

In April 2023, Mukuru officially ranked sixth on the 2023 LinkedIn Top Companies List in South Africa.

References:
1. FXC Intelligence article on the increase in African payment companies in the last 5 years
2. Search for Mukuru branches and booths