How to Open an Intasend Foreign Bank Account

As an African business owner looking to expand internationally or an individual looking to handle multiple currencies, – Intasend foreign bank account is an efficient solution for swift international transactions.

With an Intasend foreign bank account, you can send and receive in bulk. This platform also offers great competitive rates, user-friendly features and ensures your international transactions are smooth.

What Is Intasend Foreign Bank Account?

Intasend is a fintech platform that enables users to receive and send money internationally. It supports payment methods like bitcoin, card, and mobile payments. This platform is primarily available to those in Kenya.

Founded by a team dedicated to making payments easy for businesses and developers. Intasend foreign bank accounts offer bulk payments, withdrawals to banks and M-pesa, payment links, and 24/7 customer service.

Pros

1. It offers users a multi-currency option, allowing users to transact in different currencies.
2. The platform offers competitive fees, making it cost-effective for Intasend foreign bank account users.
3. Provides 24/7 customer care service.
4. It accepts mass payouts.

Cons

1. This platform is limited to business owners and freelancers in Kenya, restricting access for users in other African countries.
2. Card transactions take up to 2 to 3 days to process.

Features Of Intasend Foreign Bank Account

1. Wallet-to-Wallet Service: This feature enables wallet-to-wallet transactions with no fee attached.

2. API Payment: With API payment, you can send and receive money through different methods. These include bank, mobile, card, and cryptocurrency e.g., Bitcoin.
3. KYC and Compliance: This feature on Intasend foreign bank accounts ensures the user’s verification. This is done through automated liveness tests and document verification.
4. Payment Links: This feature on Intasend foreign bank accounts allows freelancers to create payment invoices for their clients or companies.
5. Supports Both Visa and Mastercard: Intasend Visa and Mastercard allow you to shop anywhere these cards are accepted.

Getting Started With Intasend Foreign Bank Account

To enjoy the features of an Intasend foreign bank account, you first need to set up an Intasend bank account.

How To Open an Intasend Bank Account

To create an Intasend foreign bank account, follow these steps:

• Visit the Intasend website and choose the option to create a business account.
• Input the necessary personal information and documents.
• Wait for your account to be verified.

Once your account is verified, you can begin receiving and sending money.

Note: The Intasend foreign bank account is versatile. It functions as both a business account and a personal account.

How To Send Money With Intasend Foreign Bank Account

• Log in to your Intasend bank account.
• Click on “Send Money” on the homepage.
• Input your necessary information
• Click on “Initiate Request.”
• Preview your transaction details and click the “Approve” button.
• Click on “Complete.”

You have successfully funded your recipient account.

How To Withdraw With Intasend Bank Account

• Log in to your Intasend bank account.
• Click on the “Settlement” option on the homepage.
• Click on “New account” to provide your “Bank details.”
• Input the bank details correctly and Click on “Submit” to save.
• To continue the withdrawal request, click on “New request.”
• Fill the “Withdrawal form” and click “Submit.”

The Intasend team will immediately approve your withdrawal request.

Intasend Pricing And Limits

This foreign bank provider offers three fair pricing with amazing features.

• Card payment
• Mobile payments
• Disbursement

1. Card Payments 

Local Cards: A transaction fee of 3.5% will be charged for payments made with local cards. This gives you access to certain features.

• Payment notification
• API access and payment SDKs
• 24/7 customer service
• Fraud prevention
• 2-days payout period
• Accept both Mastercard and Visa
• No code Invoicing
• 3DS2 support.
• Reports on transaction

International Cards: A 3% fee will be charged per transaction for your mobile payments. This gives you access to certain features.

• Accepts both Visa and Mastercard
• Multi-currency settlement
• Payment notification
• Fraud prevention
• 24/7 customer service
• 2 to 3 day payout period
• API access and payment SDKs
• Report on transactions
• No code invoicing

2. Mobile Payments Collection

A 3% fee will be charged per transaction for your mobile payments. This gives you access to certain features.

• M-Pesa STK push
• No maintenance fee
• Report on transactions

3. Disbursements

• A fee of 1.5% per transaction will be charged for disbursement.

Intasend Limits

Card Payments Limits

• $500 or equivalent per transaction
• There is no limit on how much your account can hold.

Mobile Money Limits

Limits are solely based on providers’ limits.

• A daily transaction limit of Ksh 300,000 per M-pesa account.
• A daily limit of Ksh 150,000 per transaction.

Reviews On Intasend Foreign Bank Account

Some users of Intasend foreign bank accounts shared their experience on Trustpilot.

 A user said “3 years since I started using intasend. Seen very commendable growth and improvement on their payment solutions.

We started receiving payments with them when they were having only a visa as a method of payment and later on added mastercard and other options.

I highly recommend Intasend because it’s an amazing start-up focusing on client satisfaction, unlike other big companies which whenever you have a problem, you will have to write an email and wait for 3 working days, with intasend, you just call and get your issues solved immediately. Easy sign up. I highly recommend high-risk freelance business. Keep it up.”

My Thoughts On Intasend Foreign Bank Account

As a Nigerian, my attempt to create an Intasend foreign bank account was unsuccessful. The service is exclusively available to business owners and freelancers in Kenya.

This limitation is a significant disadvantage for those in other regions of Africa. I hope Intasend’s foreign bank account expands its services to include freelancers and business owners in other African countries.

Conclusion

This fintech platform is primarily available for freelancers and business owners in Kenya. They offer services like multi-currency support, bulk payments, wallet-to-wallet transfers, and competitive rates.

Despite Intasend being restricted in countries outside Kenya, it has slower card transaction processing. Additionally, Intasend provides benefits like 24/7 customer support and offers both Visa and Mastercard transactions. 

Frequently Asked Questions