Africa’s youthful population and brilliant minds make the continent a budding hub of freelancers and a reliable labour market for clients. Between Nigeria, Kenya, and South Africa, there are over 17.5 million freelancers according to a report by the World Bank.
However, many freelancers in Africa still experience hassles when making transactions. Due to the delays and paperwork traditional banks require, many freelancers now opt for mobile banking apps.
If you are a freelancer in Africa looking for the best mobile banking app to manage your finances, we’ve got you.
Mobile banking apps offer convenience and swift transactions. Besides these benefits, here are some major points you should consider when choosing a mobile banking app.
Consider the fees associated with sending and receiving payments. You should not have to lose much to transactions and hidden charges.
If you will receive payments in foreign currencies, you must choose apps with competitive exchange rates.
Consider the app’s range of payment options. This offers you more flexibility when funding your account.
Freelancers need reliable customer support to address any issues or inquiries. Opt for platforms where you can easily access their customer support.
To ensure your earnings and data are safe, choose a mobile banking app with robust security measures. Multi-factor authentication and encryption should be used to protect sensitive financial information.
The app should be user-friendly and intuitive. It should be easy to navigate and manage transactions.
Consider features like invoice tracking, budgeting tools, and integration with accounting software. This should help you streamline your freelance finances.
If you work with international clients, ensure the app supports international payments with reasonable fees.
Choose a platform that allows you to receive money in other currencies like USD, GBP and EUR. This reduces the need for currency conversion and opens you to the global market.
Considering these factors, here are some of the best mobile banking apps for freelancers in Africa.
Grey is a digital banking solution that offers freelancers multi-currency accounts. You can hold, send and receive payments in USD, GBP and EURs or convert to local currencies at competitive rates. Grey also offers a versatile virtual USD debit card for easy online payments. With low transaction fees and no hidden charges, Grey is the one of the best apps for freelancers in Africa. Aside from its robust security offering, freelancers can also use the invoicing feature to create and send invoices to their clients, thus simplifying their finances. Grey integrates seamlessly with the popular freelancing platforms, including Fiverr and Upwork.
Read also: Top digital nomad cities for long-term rentals in Africa
This is a well-known platform that lets freelancers receive payments in multiple currencies. Payoneer provides a prepaid Mastercard for easy spending. The payment platform easily integrates with major freelancing platforms and offers multi-currency accounts.
Wise provides a multi-currency account with low fees and real exchange rates, allowing freelancers to hold and manage various currencies. You can withdraw funds to most African bank accounts, and the customer support is remarkable.
Chipper Cash is a digital wallet that facilitates international transactions and remittances across Africa. It offers a Chipper Cash virtual card for online payments on websites that accept Visa or Mastercard.
This is an emerging favourite among freelancers. Geegpay by Raenest is designed for freelancers. It offers virtual USD, GBP, and EUR accounts and a USD virtual debit card for global expenses. Users can also automate invoicing and send it to their clients.
Read also: Navigating forex regulations as a freelancer in Africa
Freelancers in Africa can now easily manage their financing with reliable mobile banking apps. Grey is one of the best banking apps for freelancers in Africa, and it has robust security and excellent customer support. The fintech solution offers multi-currency accounts that allow users to open USD, GBP, and EUR bank accounts from Africa in a few minutes.
Freelancers can streamline their finances with Grey’s invoicing tool, virtual USD card, and competitive exchange rates.
Sign up with Grey today or download the app to enjoy a seamless mobile banking experience.
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