Kyshi - FAQs

Your Kyshi account balance is the amount of money that you have in any of your currency wallets on your Kyshi app.

A multicurrency account on Kyshi allows you to control your money across different currencies from a single account on your Kyshi app.

Your Kyshi Wallet is your secure account with which you can perform transactions in or outside the App. It has a unique bank account number and so you can consider it another bank account for your cross border transactions.

Yes, you need a Kyshi Wallet to enjoy the benefits of sending or receiving money easily on the App.

Kyshi powers multiple wallets for every currency supported. And as a Kyshi user with multiple nationality or residency, you can have more than one wallet.

Follow these steps to create a second wallet on Kyshi:

Log into the app and click “Create New Wallet”
Provide every necessary detail need (so far you can prove your nationality or residency in that supported country)

Click here to see how to create your first wallet on Kyshi.

Once your wallet has been verified, you can now fund your wallet. See how to fund your wallet:

Log into the app and open the wallet you want to fund.
Select “Add Money”, select the funding method, and complete the funding process.

OR

You can login and click on “Actions”
Click on “Add Money”, select the wallet you want to fund, and fund it.

Note that only GBP wallets have the funding options:

- Easy bank transfer

- Make bank transfer

USD and NGN wallets only have the "Make bank transfer" option.

Funding your Wallet is FREE.

Currently, you can only fund your wallet using Bank Transfer or via Open Banking apps (in the UK) like TruLayer & Plaid.

Security is our highest priority. For now, you can only fund your Wallet from an account that matches your name.

Any funds sent from a non-matching account will not reflect in your Wallet but be reverted back to the originating account.

Payments to your wallet should reflect within 5-30 minutes after confirmation.

This may result due to bank processing delays. If the funds sent is yet to reflect in your Wallet, allow for about 2 hours and reach out to us at support@kyshi.co

Wallets on Kyshi range from Tier 2 to Tier 4. This means that once you create your wallet, it is automatically a Tier 2 wallet. However, to upgrade your wallet to Tier 3, you need to provide these documents:

A valid ID ((Passport, Driving licence)
A selfie with the ID you have chosen
A Utility bill or Bank Statement (with your name and address as proof of address)
Source of Funds (SoF) & Source of Wealth (SoW) documents (bank statement, payslip, contract of employment, investments, etc.)

Upgrade your wallet quickly

Is your wallet on Tier 3? See how to upgrade it to Tier 4.

If you want to upgrade your wallet from Tier 3 to Tier 4, you would have to apply for it and wait for our Compliance team to approve you after due diligence has been done on you.

When you withdraw your money from your Kyshi wallet, you simply transfer it to a local bank account– in Nigeria, UK, and the US. Here’s how to withdraw from your Kyshi wallet:

Log into the Kyshi app and click on the wallet you want to withdraw from.
Select “Withdraw” and choose your withdrawal medium (move to step 4)

Alternatively,

Log in, click on “Action,” and select “Withdraw Money”
Enter your beneficiary details and complete the withdrawal.

Remember that you can always withdraw your money from your Kyshi wallet for FREE. Log into the Kyshi app and make a free withdrawal.

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