Wave review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Wave is a digital only money account for businesses in Mali and Senegal, with transfers delivered in Instant (seconds) and payouts by wallet or cash pickup. It suits small traders paying out in cash, and suits you less if you need 1 or a counter to visit.
Key facts
- Best for
- Business money transfers with cash payouts in Mali and Senegal.
- Monthly fee
- F CFA 0↗
- Currencies
- 1↗
- Free ATM withdrawals
- F CFA 0↗
- Transfer fee
- 1% of the amount sent, free to the recipient↗
- Legal entity
- WAVE SA (RCCM Ma.Bko.2018.B.6094), Mali electronic money service provided with UNITED BANK FOR AFRICA MALI SA as issuer↗
- Headquarters
- Mali↗
- Support channels
- Phone, Email↗
- Audience
- Business
- Pricing model
- No monthly fee
- Features
- Digital-only
- Official website
- wave.com
Money transfer
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- The account costs XOF 0 a month and carries an ATM allowance of XOF 0.
- Transfers are delivered in Instant (seconds), and payouts run to wallet and cash pickup.
- Support runs on phone and email, so a phone line and email are both available.
- Built for business, business, and run as a Mali electronic money service with United Bank for Africa Mali SA as issuer, under BCEAO.
Cons
- Sending is not cost free: fees run 1% of the amount sent, free to the recipient, and business transfers also list a flat XOF 10.
- The account covers 1, so a second currency for payments abroad is not on offer.
- Support runs on phone and email only, and with the account digital only, digital only, there is no counter to visit.
Who it suits
- Small businesses in Mali and Senegal that pay staff, suppliers and customers in cash.
- Users comfortable managing everything from a phone through a digital only account, digital only.
- Traders who want a wallet balance and a cash payout inside the same service, wallet and cash pickup.
Who should look elsewhere
- Skrill, whose monthly fee is €0, if your money moves in wider markets than the 1 Wave covers.
- Plazo ES, which also carries a monthly fee of €0 against Wave's XOF 0, so cost does not decide it and currency does.
- PayPal Colombia, whose monthly fee is $0, when your business settles in a currency other than the 1 Wave holds.
How Wave compares
Its monthly fee is €0, so the real difference is reach: Wave covers 1 and pays out to a wallet or cash pickup.
Where Wave is available
- Available
- Burkina Faso, Cameroon, Côte d'Ivoire, Democratic Republic of the Congo, Gambia, Guinea, Malawi, Mali, Niger, Senegal, Sierra Leone, Uganda
- Licence in Mali
- BCEAO, checked September 26, 2026
- Licence in Senegal
- BCEAO, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to keep a Wave account?+
The monthly fee is XOF 0 and the ATM allowance is XOF 0, so holding the account costs nothing in monthly charges. Wave is aimed at business users, business, and the cost that matters is the charge on sending.
What does it cost to send money?+
Fees run 1% of the amount sent, free to the recipient, and the business terms also list a flat XOF 10 on transfers. Both sit above the XOF 0 monthly fee, so a business that pays out often feels the send charge more than the account.
How fast does money arrive?+
Delivery is Instant (seconds), which suits businesses paying the same day rather than waiting on a longer clearing cycle. Payouts run to wallet and cash pickup, so the recipient can collect or be credited without extra steps.
Who regulates Wave and where is it based?+
BCEAO is the regulator listed for Mali and Senegal. The service runs on Wave SA, a Mali electronic money provider, with United Bank for Africa Mali SA as issuer, and the account is digital only, digital only.
How do I take money out?+
Payouts run to wallet and cash pickup, so a recipient can collect in cash or be credited to a wallet, and cash withdrawals fall under an allowance of XOF 0. Handling happens in app because the account is digital only, digital only.
Which currencies can I hold?+
The account covers 1, so it is built for money received and spent in a single market rather than for holding several currencies at once. Sending charges, 1% of the amount sent, free to the recipient, matter more here than conversion costs.
How do I get help?+
Support runs on phone and email, giving you a phone line and email for questions about the account and payouts. Wave is aimed at business users, business, so support is set up around business money movement.
Sources
- wave.com/en checked September 26, 2026
Backs: Free ATM withdrawals, Transfer fee
“Deposit & withdraw money for FREE”
- wave.com/en/about checked September 26, 2026
Backs: Pricing model, Monthly fee
“no account fees”
- wave.com/en/business checked September 26, 2026
Backs: Audience, Delivery time, Payout methods, Fee to send 1,000
“Hundreds of thousands of businesses of all sizes use Wave to pay their employees, take payments from customers”
- wave.com/fr/terms_uba_ml checked September 26, 2026
Backs: Currencies, Features, Headquarters, Legal entity, Support channels, Licences
“1 UV = 1 F CFA”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.