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Scoring BoxyPay
Is BoxyPay worth it? Probably not, as there are many better alternatives such as Wise, WorldRemit, Nala, or Paga.
Wise is much more reliable and is cheaper for recurring transfers to Nigeria while WorldRemit is better for one-off large payments due to their promo rates and fees.
The only time it makes sense to use Nala is when you want to benefit from the phone card services and need to make a one-off small transfer to avoid creating multiple accounts.
If you still want to use it, here’s a quick summary of the company.
- BoxyPay is very straightforward, considering there are barely any features within the app.
- There is a variety of accepted payment methods which include bank account, debit card, or merchant voucher.
- Offers mobile money and international transfers within Nigeria.
- Limited to money transfers to Nigeria.
- Poor reviews online, including Trustpilot, Play Store, and Facebook.
- The $7.99 transfer fee is really high compared to services like Wise and WorldRemit.
- BoxyPay is the app only meaning you can’t send money online.
BoxyPay fees and exchange rates
Fees and rates
BoxyPay charges a markup of 0.25% and adds a fixed fee of $7.99 to every transfer.
This is expensive compared to other options.
For example, WorldRemit offers promo rates and no fees on the first transfer to Nigeria which is ideal for large transfers.
Wise offers money transfers at the mid-market rate (meaning no markup) and a $9.66 fee for a $1,000 transfer to Nigeria.
Exchange rates
BoxyPay adds a markup of 0.25% to every transfer to Nigeria.
It might seem good, as similar services add a higher markup, for example, Nala offers better rates to Nigeria than the mid-market rate (almost 3% better).
However, there is a catch, the fees.
BoxyPay charges ~$8 while Nala fees range from $0.99 - $5.99. Add the two and Nala is now cheaper.
International transfer fees
The transfer fee at BoxyPay is $7.99 no matter the amount you send.
This is very high compared to many similar services focusing on Africa. For example, Nala charges from 0.99%, and WorldRemit offers $0 fees.
To put these numbers into perspective, let’s imagine you’re making a $1000 transfer from the US to a bank in Nigeria via bank transfer:
Money transfer service | Total fees (fee and markup) |
|---|---|
BoxyPay | $10.49 |
Wise | $9.66 |
WorldRemit | $0.00 (promo) |
NALA | $5.99 |
Transfer speed
Transfer speed
BoxyPay offers two transfer methods and the delivery window for each is different.
Cash pickups
The funds will be instantly available for the recipient to collect from the physical pick-up location.
Direct deposit
Direct deposits can take 1 - 5 business days to arrive.
Product offering
Product offering
Supported currencies & destinations
The BoxPay website claims to facilitate transfers to all four corners of the globe, but as it stands, the only sending destination is Nigeria.
This is misleading and customers should be aware of this coverage limitation before creating an account.
In addition, you can only make transfers in USD.
Transfer types
BoxyPay provides 2 transfer types:
Cash Pickup
This involves the sender making the payment and the recipient visiting a physical location to collect the cash. The recipient can pick up the money immediately, once the transfer has been executed.
It is a good choice when sending money to someone who does not have a bank account.
Direct Deposit
You can send a wire transfer via direct deposit which takes 1 - 5 business days to arrive in the recipient’s bank account, which is much slower than the cash pickup option.
Payment methods
Before sending money with BoxyPay, you need to top up your account.
You can do this using one of the accepted payment methods:
Prepaid voucher
You will need to buy a voucher from an available merchant store and use it within the app to top up. In a way, it is similar to cash top-up.
Debit card
Here you will need to link your debit card directly within the app and use it to fund your transfer.
Mobile app
BoxyPay is an app-only service and is only available on the Google Play store.
The app has a rating of 3.7/5 from 186 reviews which suggests there is a big room for improvement.
Some of the problems noted by users include issues with account creation, getting in touch with customer service, and long transfer times.
Safety and trust
Safety and trust
There is no information on licensing or registration of the company.
However, the company seems to follow general security guidelines.
BoxyPay approaches money transfer in a responsible and trustworthy way, explaining common Nigerian scams users need to avoid when using their service.
BoxyPay makes use of 128-bit encryption on its website, ensuring information will be protected from hackers or fraudsters.
In addition to this, two-factor authentication is mandatory, ensuring account access is secure.
BoxyPay also uses bank-grade security, passwords, and PIN systems to guarantee user data is protected.
The customer service at BoxyPay is widely accessible since there is an international number that offers support when help is required. Here it is: +1(470) 800-7361.
The live chat feature is also reliable and can be found by clicking on the chat icon located on the right-hand side of the page.
Customer feedback
Customer feedback
BoxyPay is rated 3.7/5 from 186 reviews on the Google Play Store, 92% recommend the service on Facebook from 18 reviews, and multiple 1-3 star reviews on their website.
Mostly, other users complain about the customer service, transfer times, and reliability of the app.
Making international transfers
Here’s how to make an international money transfer via BoxyPay.
Download the app
Find the app on the Google Play store and download it.
Deposit Money
The first step is to deposit money and you can do so using a prepaid voucher, a debit card, or at a merchant store.
Choose the Recipient
Choose the recipient who will receive the money, which you can do using a phone number.
Select Amount
Choose the amount you will send and you can only use USD as the currency.
It is possible to cancel a transaction within 30 minutes of it being initiated. However, this option is not available if the funds have already been deposited into the beneficiary’s account or collected by the recipient.
Receive international transfers
There are a few options for withdrawal and pick-up.
Cash pickup
The first option is cash pickup which will require a government-issued ID. The receiver will also need to show the transfer number when picking up the cash.
Direct deposit
With direct deposit, money will land in the recipient’s bank account and they won't need to do anything.
How BoxyPay compares to other transfer services
Fees & Rates9.4Transfer Speed9.0Safety & Trust9.2Product Offering8.8Transfer Limits9.5Ease of Use10.0Customer Feedback8.5Overall
Fees & Rates9.8Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.4Overall
Fees & Rates9.3Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.7Overall
Fees & Rates9.1Transfer Speed8.0Safety & Trust9.0Product Offering9.0Transfer Limits8.0Ease of Use9.0Customer Feedback9.0Overall
Fees & Rates9.4Transfer Speed8.0Safety & Trust8.5Product Offering8.8Transfer Limits9.5Ease of Use8.2Customer Feedback8.3Overall
Other Alternatives
Alternatively, consider using one of these neobanks for international transfers.
BoxyPay: Is it good for transfers abroad?
Regardless of the options you pick, we always advise you to compare your options.
BoxyPay would not be my first choice for transfers.
Considering how many variables there are when it comes to picking the right provider, we suggest using the form below to find a better option.
A bit more about BoxyPay
Does BoxyPay accept cash or cheque payments?
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
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