Chipper Cash was founded by a partnership between Ham Serunjogi, a Ugandan, and Ghanaian Maijid Moujaled in 2018 to offer a no-fee peer-to-peer cross-border payment service in Africa via its app. Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. This year, the company began to make strides outside the continent. In May, it expanded to the United Kingdom and to the United States in September, allowing users to send money from the European nations to Chipper Cash’s African markets.
When it comes to Uganda, Chipper Cash supports payments from MTN and Airtel, which are the major mobile money platforms. One can send and receive money across all these mobile money platforms using Chipper Cash, any time, at no cost.
Chipper Cash launched and expanded its Stock-trading feature dubbed U.S. fractional stocks in Uganda. According to Investopia, A fractional share is a portion of an equity stock that is less than one full share.
This means users can invest on a dollar equivalent basis (i.e., fractional shares) in over 6,000 U.S. securities and ETFs, with little or no minimum requirements. Starting with UGX 3500 you can invest in U.S./international equities and build a global portfolio that lasts through time since over 1,000 global companies are listed.
How does Chipper Cash work?
Chipper Cash works by allowing a window for transactions. On Chipper Cash you can send money, receive money, and request money. It can be within or outside your country of residence.
If you have a business transaction or patronage with someone outside your country, Rwanda for example. You won’t have to visit the bank.
All you need to do is to deposit the money in your Chipper Cash account and then send it to the recipient in Rwanda. On receiving the money, the recipient can withdraw to his bank account or mobile money wallet and the business deal is done.
In Chipper Cash, there are no service charges when you send money, meaning it’s free — yes free. You can always click on the “Add Cash” button to fund your Chipper Cash account.
To withdraw from your Chipper Cash account to your bank account is straightforward. Click on the “Cash Out” button and input your account details. The money will be sent into your mobile money wallet.
How to sign up for Chipper Cash App Wallet
Your phone is the basic requirement needed to open an account with Chipper Cash. You will also need the details below.
- A valid email address.
- A phone number.
- National ID.
In a few simple steps, you just have to:
- Download the Chipper Cash app from Google Play Store or the Apple Store.
- Open the app and use Email or Phone number to Sign Up.
- Input your mobile phone number starting with the country code in the form of +2567 for verification. You can also make use of your email and click continue
- A verification code with 6 digits will be sent to your phone number or Email.
- Enter the code you receive on your provided number and continue.
- Enter your first and last name and press “Next”.
- Choose your primary currency and continue.
- Set your security code for transactions. Make it unique and secure
- Your Chipper Wallet Account will be successfully created.
- You must allow the Chipper Cash app to access your contacts
How to withdraw money from Chipper Cash App Wallet to your Mobile Money Account.
This is very simple to do. Follow the steps below.
- Click on your profile.
- Tap on “Cash Out“.
- Input the amount to be cashed out.
- Click on “Payment methods” and select or add another payment method.
- Your money will be sent to your selected Mobile Money Wallet
How to Add Cash to your Chipper Cash App Wallet
The process doesn’t differ from that of cashing out. All you have to do is, click on your profile, Tap on “Add Cash“. Input the amount you want to add, click on “Payment methods” and select or add another payment method. Your money will be added to your Chipper Cash Wallet.
What are Chipper Cash Transfer Limits?
Talking of the cash you can send, that’s capped at UGX 19,000,000 daily. One can add cash up to UGX 19,000,000 daily and weekly. Additionally, you can cash out UGX 3,000,000 on a daily basis.
Is Chipper Cash app legit?
According to Chipper Cash, they claim that they will never request that you pay to access a loan, have your account verified, or get a higher referral bonus. Anyone who calls or sends you an unsolicited message asking for payment first before providing you with a Chipper Cash service is almost certainly a fraudster.
Chipper Cash has been in use for some years. It enjoys a very high rating among its users. That’s probably why there are 4 million users, 40,000 new users per day, and about 80,000 daily transactions with a 0.03 seconds transaction time.
Chipper Cash currently partners with the Roma football club. Chipper Cash is also being featured by many reputable companies, most of which are known to you. They include Quartz, BBC, Forbes, Tech Crunch, The Economist, and even Apple.