What is Grey Finance?

Grey Finance is a leading International Money Transfer Operator (IMTO) revolutionizing cross-border payments for freelancers, remote workers, and businesses. Founded in 2020, Grey simplifies global transactions by offering low-fee international transfers, multi-currency accounts, and virtual USD cards, all while prioritizing transparency and user convenience .

Mission & Core Services

Grey’s mission is to empower users to send money online securely and affordably, breaking down financial barriers across 80+ countries. Key services include:

● Currency exchange at competitive rates (40+ currencies supported) .

● Virtual foreign accounts (USD, GBP, EUR) for receiving payments globally .

● Instant conversions with mid-market rates and no hidden fees .

● Bill payments, invoicing, and gift card purchases .

Global Reach

Grey serves major corridors like US to Nigeria, UK to Kenya, and EU to Latin America, with a focus on Africa, Europe, and Southeast Asia. Users like Jane, a student in the UK, praise Grey for making tuition payments and managing multi-currency accounts “effortless” .

Who Owns and Operates Grey Finance?

Grey Finance was co-founded in 2020 by Idorenyin Obong and Femi Aghedo, two visionary entrepreneurs aiming to solve cross-border payment challenges for Africans. Originally named Aboki Africa, the company rebranded to Grey in 2022 to reflect its global ambitions .

Leadership & Partnerships

Grey’s growth is backed by investors like Y Combinator and Ingressive Capital, alongside strategic partnerships with:

● Cellulant: For mobile money payouts in East Africa .

● dLocal: Facilitating transfers in LATAM and Southeast Asia .

● Insured Nomads: Offering discounted travel insurance for freelancers .

Regulated by FinCEN (USA) and FINTRAC (Canada), Grey ensures compliance with international financial standards .

How Does Grey Finance Work?

Sending money with Grey is straightforward:

Step 1: Create an Account

Sign up via the app or website and complete KYC verification (requires a government ID and video selfie) .

Step 2: Choose a Transfer Method

● Bank Deposits: Direct to recipient’s account.

● Mobile Wallets: M-Pesa in Kenya, GHS in Ghana .

● Virtual USD Card: For online spending or ATM withdrawals .

Step 3: Track Transfers

Monitor transactions in real time through Grey’s app or dashboard .

What Are the Fees and Exchange Rates?

Grey offers transparent pricing:

● Currency Conversion: 1% fee (capped at $6 for Group A currencies like USD-KES or EUR-GBP) .

● Cross-Border Fees: 2% + $0.50 for non-USD card transactions .

● Virtual Card Creation: One-time $5 fee .

Exchange Rates

Grey uses real-time mid-market rates with no markups. For example, converting $1,000 to NGN incurs a max fee of $6, compared to traditional banks charging 3-5%

Service Grey Finance Competitors (e.g., Wise)

USD to NGN Fee 1% (max $6) 0.5%-1.5% + fixed fee

Transfer Speed Minutes 1-2 days

How Fast Are Transfers with Grey Finance?

● Bank Transfers: 30 minutes to 24 hours .

● Mobile Wallets: Instant in Kenya (M-Pesa) .

● USDC Transactions: Near-instant via Ethereum/TRON networks .

Delays may occur due to bank processing or regulatory checks, but Grey’s 24/7 tracking keeps users informed .

Is Grey Finance Secure and Regulated?

Grey employs:

● Bank-Grade Encryption: Protects user data.

● 2FA & Fraud Detection: Secures login and transactions .

● KYC/AML Compliance: Mandatory ID verification to prevent fraud .

Licensed by FinCEN and FINTRAC, Grey adheres to strict anti-money laundering policies .

Which Countries and Payment Methods Are Supported?

Supported Regions

● Africa: Nigeria, Kenya, Ghana, Uganda.

● Americas: USA, Brazil, Mexico.

● Europe & Asia: UK, Philippines, Indonesia .

Popular Payment Methods

● Debit/Credit Cards

● Bank Transfers (ACH, SEPA)

● Mobile Money (M-Pesa, GHS)

● Cash Pickup (Partner locations) .