A lot of people in Africa are now using the internet to Learn many digital skills. Due to this, many foreign companies are recruiting on a daily basis. Unfortunately, many of these digital workers find it hard to receive payments.
Having to create a Dollar account, Converting the currency, and spending is very difficult and stressful. Making many Nigerian Digital workers stranded and unable to receive payments.
But with Grey Finance, All these problems come to a halt. Grey finance had helped millions of Africans in leveraging their finances and having easy access to their payments in and across Africa.
We will be having an in-depth look at what is Grey finance, how it works, and How to create a virtual foreign bank account on Grey. The account can either be a Dollar (USD) British pound (GBP) or Euro (EUR account).
What is Grey Finance?
Grey Finance is a leading fin-tech company that helps in providing cross-border payment services in Africa. With Grey, you can easily convert your funds between local and international currencies.
Grey Finance is a game-changer in the remittance industry. It allows people to receive and send money from around the world. Their fees are also low and their payments are fast. The company has partnered with major banks and payment processors to offer a more convenient service. With Grey, You can easily send and receive money across Africa within a few clicks.
In Africa, grey finance has long played an important role in facilitating money transfers and access to capital. Grey finance mechanisms like informal savings groups, remittance networks, and microfinance have provided key financial services across Africa.
With Grey Finance sending money to and across Africa is very easy, and the funds are typically received within minutes. There’s no need to visit a bank or send a wire transfer. Because of these amazing features, Grey has become popular because with Grey, it is very easy to create a virtual foreign account.
How Can I Get a Virtual Foreign Account on Grey?
Do you need an international bank account but don’t want to travel abroad to open one? Worry not because Grey provides digital access to accounts worldwide and all these steps can be done from the convenience of your home.
Follow the steps below to get set up with a virtual foreign account through Grey.
The first and foremost step to get an account Grey is by Signing up. This can be done using their app or visiting their website on Grey Co.
Browse Countries and Currencies
Grey gives you online access to accounts in over 30 countries worldwide across Africa, Europe, Asia, and the Americas. Simply browse and select your preferred country and foreign currency.
Submit KYC Details
To open a virtual account, you’ll need to submit details and documentation for identity verification and Know Your Customer (KYC) checks. IDs like your Driver’s license, national ID, or an international passport will be required. Simply sign in to your account after you have been Verified.
Fund Your Account
Once approved, fund your new foreign account through Grey’s website or their mobile app. Transfer money via bank wire, debit/credit card, or third-party payment services. Minimum deposits start from $100 or equivalent. You can start transferring funds in and out of your Account once you have funded it.
Activate Your Debit Card
Grey will mail you a branded debit card linked to your new virtual account. Activate your card through their mobile app. You can now use it online or in-store anywhere cards are accepted.
Manage Your Account Online
You can now log into your Grey account anytime to check balances, review statements, and make transfers or withdrawals. Grey Customer Service is also available 24/7 via live chat, email, or phone.
With Grey, accessing banking and payment capabilities abroad is as easy as signing up online. Avoid travel costs and gain convenient digital access to financial services worldwide using Grey
How to Transfer Money Using Grey
After you have successfully funded your grey account, add the payment method you will use to fund transfers. Options include bank accounts, cards, and third-party services like PayPal.
To send your transfer, input the recipient’s name, banking details, and delivery location. Grey supports sending funds to accounts, mobile wallets, cash pickup, and home delivery.
Review all details carefully before submitting the money transfer through your Grey account. Fund the transfer right away via your registered payment method.
Both you and the recipient will receive email and SMS notifications providing status updates on the transfer until confirmed delivery.
With very good exchange rates, low fees, and speedy delivery, Grey simplifies sending money abroad securely. Grey Finance charges just 0.2% for all transfers, making it one of the most affordable options for sending money across Africa.
How Fast Does It Take To Receive And Send Money From Grey?
It takes just a matter of minutes to send money from Grey Finance to a recipient in Africa. Once you have initiated the transaction, the recipient will receive the funds in their local currency in just a few minutes. Using Grey is by far faster than traditional methods of sending money, which can take days or even weeks to complete.
As for receiving money, Grey Finance allows you to receive funds from abroad directly into your bank account, e-wallet, or mobile money account. The process is quick and easy, and the money is typically available for use within minutes. The time period for both Transferring and Receiving Money is approximately 5 minutes.
How To Withdraw From Grey Finance?
Withdrawing money from Grey Finance is simple and straightforward. Below are the steps you need to follow:
First, you into your Grey Finance account and head to the “Withdraw” tab.
Next, you choose the withdrawal method you want to use. It can either be a bank transfer, e-wallet, or mobile money. After selecting your Withdrawal method, enter the amount you want to withdraw and click on the withdraw button. The approved money is disbursed immediately.