illicocash review

The monthly fee is CDF 0, so the account is free to keep open. Sending money to another illico user is also charged at $0, which makes small local transfers cheap. The cost arrives elsewhere, mainly on currency conversion.

Currency conversion is charged at 1.4% on the amount being converted. That is above what many multi-currency accounts charge, so conversion is worth keeping to a minimum. Transfers between two illico users avoid the cost altogether.

An illico to illico transfer is charged at $0. Cash pickup and international transfers carry their own charges, so check the cost against the amount before you send. Sending a large sum is priced differently from sending a small one.

Payouts run through bank, cash pickup and wallet. Bank transfer, cash pickup and mobile wallet payouts are all listed, so a recipient without a bank account can still receive the money. Cash pickup suits recipients who want to collect in person.

Delivery is Instant, which is the main practical draw of the app for anyone moving money urgently. Speed matters most for local transfers between two illico users, which also carry $0.

The account holds 2 currencies, which is a short list for a traveller. If you need to keep balances in several currencies at once, an account built for that will serve you better. Conversion between currencies is charged at 1.4%.

The account is digital only, so everything runs through the app and there is no branch counter to visit. Support runs on email, phone and help centre, which means you can get help without going anywhere. That suits anyone who lives far from a town centre.

The account is run by RAWBANK S.A., a bank registered in the Democratic Republic of the Congo. A named bank behind the app is a comfort if you are wary of sending money through a phone-only service. The service is aimed at the local market rather than at global users.