PayTesy review

PayTesy has no monthly charge: the monthly fee is MZN 0 and the account model is no monthly fee. Transfers are where costs appear, because the transfer fee applies to the amount moved once the free Pay Tesy transfers included each month are used up. The account is built for local payments rather than currency conversion.

Money moved between Pay Tesy accounts arrives immediately, while transfers to a national IBAN take a little longer to clear. That speed suits a business paying staff and suppliers, though a payment due on a fixed date may need a margin. The service is digital only, so timing is handled inside the app rather than at a branch.

You can pay out to bank, wallet and cash pickup, which covers a bank transfer, a mobile wallet and cash pickup. Cash pickup suits paying staff or customers in person, while bank and wallet payouts handle regular settlements. The account number is your mobile number, so payout details are set up in the app.

Support runs through email, phone and chat, so email, phone, live chat and a help centre are all available. The team can be reached by phone for time-sensitive payment problems, while chat and the help centre suit routine questions. Because the service is digital only, queries are handled in the app rather than in person.

The account runs on a single currency, and the count is 1. Businesses that collect or pay in several currencies would need to hold balances elsewhere or convert before moving money. The provider is based in Mozambique, which matches the local market the account serves.

The stated audience is business, and the account is aimed at business customers in Mozambique rather than general banking. It suits an easy-access balance, since the account kind is easy access, for paying staff and suppliers. The legal entity behind the service is Tesy Investments, SA.

Opening an account is limited to adults, and eligibility covers Mozambican nationals plus foreign residents holding a valid residence title. The service is app-only and the account number is your mobile number, so there is nothing to collect in person. The account kind is easy access, with a monthly fee of MZN 0.

PayTesy is supervised by Banco de Mozambique. No deposit protection scheme is set out for the account, and the licence type is not stated in the published details, so the treatment of balances held is worth confirming with the provider before large sums sit on it for a long period.