Online money transfer app, Thrivesend, has been around for a while, but apparently, that was a long and extended testing phase. Earlier i June 2017 the service was officially launched. In its beta phase, money transfer on Thrivesend cost ₦50, arguably the cheapest at the time and it was the app’s unique selling point.
Thrivesend lets anyone with a with a local or international Mastercard, Visa or Verve card to send money to any verified Nigerian bank account and is is available today to anyone around the world looking to send money to Nigeria. The maximum amount that can be sent currently is ₦100,000 and each transaction costs ₦45.
But between the service’s initial launch and now, transferring money from one bank to another which used to cost between ₦105 and ₦135, now costs as low as ₦50; and there’s another payment processing app, Kudi.ai, that processes transfers through its Facebook Messenger, Skype, and Telegram bots FOR FREE, so while Thrivesend transactions now cost ₦45, it’s not the lowest fee ever and the differentiating factor looks all but gone.
While we have seen many (good) testimonials about the efficiency of the service in local transactions, we’re yet to see same for international transactions – the company’s press release offers no specifics about this. Thrivesend’s claim that it is the easiest and most secure way to send money to Nigeria could very well turn out be true, but the jury is still out.