Frequently asked questions

It’s free to register and you’ll be ready to start sending money within minutes. We just need some basic information about you, along with a valid mobile number and email address. We will send you an email with a link and an SMS with a code. Click on the link in the email, enter the SMS code and you will receive your client ID via email and password by SMS. You are ready to go!
You can also sign up using your Facebook or Google+ account, just click on the icon and follow the steps. Remember that we do need your formal name for verification purposes so please change any nicknames you may be using on those accounts when signing up.

Please check that the email hasn’t fallen into the Spam, Junk or a promotions folder. If you haven’t received the SMS it may be that the mobile number was entered incorrectly or there is poor signal in your area. If you don’t receive your email/ SMS code please get in touch, we will be happy to help.

There is a monthly sending limit of £5,990, £2,500 of which can be sent via personal debit card and a further £3.490 via our other available payment methods.
If we need to verify your identity after your account application you will have a temporary sending limit. Once your account is verified your sending limits will be increased.
If you need to send more, please get in touch and see how we can help.

We take the live prevailing interbank rate and apply a small commission. To get a better idea of how much you get for your money, use the money calculator on the home page of our website or log into your Equity Direct account.

We don’t allow fees to be taken from your transfer in Africa, but the receiving bank may apply a charge when the funds are credited to your recipient’s account- this is unfortunately out of our control.

You can pay for transfers using the following methods:

• Personal Visa or MasterCard debit card - You can securely add up to 2 debit cards on your Equity Direct account, and choose which card you wish to use to pay for your transfers. Payment is taken instantly and the transfer processed immediately.
  You can use your debit card to make up to 5 transactions per day, and up to 30 transactions per calendar month. Please get in touch if you need an increased transaction limit.
• Electronic bank transfer - Set up your transfer request and then send payment to us by logging into your online banking and requesting a funds transfer to our VFX account details. Payments are normally credited same day. Payment via bank transfer must come from your own bank account- we cannot accept payments from 3rd parties.

Note: There is a monthly debit card limit of £2,500 (or currency equivalent). We are unable to accept credit cards, prepaid or business debit cards. We cannot accept cash payments. Electronic bank transfers are only processed during normal working hours, excluding weekends and bank holidays, when they are processed the next working day.

How do I add a recipient? To add a beneficiary follow the steps below:

1. Log into your Equity Direct account
2. Go to “ Recipients” on the menu on the left hand side of the screen
3. Click on “New”
4. Select the country the recipient account is held from the drop down
5. Choose the account type ( dependant on recipient country): Bank account, Mobile account, Paybil+l or Payloan
6. Select if recipient is personal or company
7. Fill in the details
8. Click “Save”
9. Recipient has been added and you can now send funds.

We have partnered up with associations in Kenya to make it easier for you to make regular payments. All you will need to set up your PayBill+ recipient is the unique reference number of the association you wish to pay. Currently you can send money to the following PayBill+ merchants:

• Urithi Housing Co-Operative Society
• Kingdom SACCO Ltd
• Tower SACCO Ltd
• Optiven Ltd
• Heri Homes ( Leo Capital Holdings)

To set up a PayBill+ merchant as a recipient on your account, follow the below steps:

1. Log into your Equity Direct account
2. Go to “ Recipients” on the menu on the left hand side of the screen
3. Click on “New”
4. Select the country “Kenya”- PayBill is only available in Kenya at the moment.
5. Choose the account type “Paybill”
6. Select the correct merchant from the drop down selection
7. Fill in the reference field with the reference relevant to your account with that merchant, this will allow them to identify your payment when it’s credited to their account in Kenya.
8. Click “Save”
9. The PayBill+ recipient has been added and you can now make payments.

Equity Direct has partnered with the Higher Education Loans Board (HELB) in Kenya to make it easier to make payments to clear off student loans. All you will need to set up Payloan on your account is the student reference that the loan is attached to in Kenya. The Payloan recipient is set up using the steps below:

1. Log into your Equity Direct account
2. Go to “ Recipients” on the menu on the left hand side of the screen
3. Click on “New”
4. Select the country “Kenya”- PayLoan is only available in Kenya at the moment.
5. Choose the account type “PayLoan”
6. Select “Higher Education Loans Board” from the merchant drop down selection
7. Fill in the reference field with the student reference associated to the loan you wish to make payments to. This will allow the HELB to identify your payment when its credited to their account in Kenya.
8. Click “Save”
9. The PayLoan recipient has been added and you can now make payments.

To add a debit card follow the steps below:

1. Log into your Equity Direct account
2. Go to “Cards” on the menu on the left hand side of the screen
3. Click on “Add”
4. Enter your cards details exactly as they are on your card and remember to check the currency displayed is the same as the currency your debit card account is held in (Tip: The CVV is the last 3 digits displayed on the back of your card).
5. Click “Save”
6. A Pop up confirmation will appear. Click “OK”
7. The 3D secure validation screen will appear. This is a security feature managed by your card issuer and, if prompted, you will need to enter the security details you set up with them.
8. Finished

Your card details are now stored and you will be able to use your card to pay for transfers going forward.

1. Log into your Equity Direct account
2. Go to “Cards” on the menu on the left hand side of the screen
3. Next to the debit card details you will see an icon. Click on this.
4. Confirm to delete.

The chosen debit card has now been deleted.

1. Log into your Equity Direct account
2. Go to “Transactions” on the left hand side of the menu
3. Click on the three dots (…) next to the payment you wish proof of
4. Click on “Export Payment”
5. Click Ok on the confirmation pop up
6. Proof of payment has been sent to your registered email address

The proof of payment will be sent in PDF format and detail the information of the transfer.
The proof of payment will not contain information about your name, address or payment method used to pay for the transfer.

Due to limitations set out by the network providers, there is a restriction on the amount you can send to a mobile wallet per transaction.

Before sending funds, please check your recipient has sufficient room on their balance to receive the money you intend to send. Any transactions sent to a wallet without room will be reversed by the network provider within approximately 48 working hours.

We process your transaction immediately and instructions are delivered to Equity Bank in Kenya in real time. Most transactions are processed instantly but credits to other Banks may take up to 48 working hours depending on the processing speed of the recipient Bank.
Note that transfers to banks with the exception of Equity bank may encounter a delay in Africa if there are is a public holiday in the receiving country- funds will only be processed on the next working day.

Once a transfer is requested and paid, we instruct the Banks in Africa to make immediate payment, so most transfers can’t be recalled. If money is sent to an incorrect mobile number and subsequently withdrawn, we will be unable to arrange a refund for you.

Equity Direct is a financial institution. In order to combat identity fraud and money laundering we need to know our clients.
When you sign up for an account we will make some basic checks of your identity. Sometimes it’s not possible to retrieve enough information electronically to complete verification and that is when we will ask you for more information.
If we are unable to verify you electronically you will still be able to log into your account and start sending money, but you will have a reduced overall sending limit and associated debit card limit until you are verified.

We will only request documentation for verification purposes if we were unable to verify your identity electronically when you registered.

If we need more information we will send a message to your Equity Direct account inbox.

In order to complete verification we will ask you for:

• Proof of identity- such as a current passport, full driver’s license photo card or a national identity photo card.
• Proof of address- dated within the past 3 months this can be a utility bill (excl. mobile, internet and insurance), bank statement or government issued document.

Keeping your personal information safe is very important to us. Documents will be submitted from the dedicated “Verify Area” of your Equity Direct account and then checked by our sign up team. Once verified you will receive a notification and your sending limit will increase. If our sign up team need anything else to complete verification we will send you a message.

Please do not email documents to our sign up team. If you are experiencing difficulty uploading documents via the Verify area, please get in touch.

Using the “Verify” area of your Equity Direct account, you can securely upload a proof of address, dated within the last three months in order for us to change your address.

To change your name, please upload a copy of a notarised or government officiated document clearly stating your previous and new name.

If you have any questions or experience difficulty uploading documents. Please get in touch.

Your client ID begins with 3 letters (EQU) followed by a series of numbers. This was originally emailed to you when the account was opened. If you can’t find it, please get in touch and we will help you.

Use the “Did you forget your password” link on the log in page of the browser based app. The steps below must be taken using the same browser you start the password reset process on:

1. Click on the link and enter your client ID (it starts with EQU). Click confirm
2. An email will be sent to your registered email address and an SMS to your registered mobile number
3. Click on the link in the email we have sent, and enter the SMS code you’ve received.
4. Enter a new password- the strength indicator will highlight if the new password is adequate.
5. Re-enter your new password
6. Click Confirm
7. You can now log in with your new password

Note. If you don’t have access to the email address or mobile number you have registered to your Equity Direct account, please get in touch and we will help you get back online.

Your account will lock if the password is entered incorrectly 3 times. You can unlock your account and using the “Did you forget your password” link on the log in page of the browser based app. The steps below must be taken using the same browser you start the account unlock process on:

1. Click on the link and enter your client ID (it starts with EQU). Click confirm
2. An email will be sent to your registered email address and an SMS to your registered mobile number
3. Click on the link in the email we have sent, and enter the SMS code you’ve received.
4. Enter a new password- the strength indicator will highlight if the new password is adequate.
5. Re-enter your new password
6. Click Confirm
7. You can now log in with your new password

Note. If you don’t have access to the email address or mobile number you have registered to your Equity Direct account, please get in touch and we will help you get back online.

You can change your email address or mobile number by following the steps below:

1. Log into your Equity Direct account through the browser based app
2. Go to “account details” under your user name at the top right of the screen
3. Click on either the email address or mobile number field and delete the existing information, then enter your new details.
4. Click Save
5. A confirmation pop up will appear- click OK.
6. You will be sent an email with a link and an SMS with a code. Click on the email link and enter the SMS code when prompted.
7. Your new details are now saved to your account.

If the new email address or mobile number entered is incorrect and/or the link or SMS is not received for validation to take place, your new details will not be saved and will revert back to the original, stored details.

There is no maintenance or dormancy fee for holding an Equity Direct account- It is there for when you need it. If you have experienced an issue with your Equity Direct account please get in touch, we are here to help. Should you wish to close your account, please send an email request to: support@equitydirectafrica.com

Phishing attacks and identity theft are becoming more common, so it is vital to guarantee the integrity of your personal data and ensure that you are who you say you are when you transact with us. Two-Factor Authentication (2FA) provides an additional layer of security to your Equity Direct account. It requires two successive factors of authentication:
- ‘something you know’ such as your Equity Direct client ID and password, and
- ‘something you have’ such as your mobile device.

1. Log into your Equity Direct account, and go to “settings” under your user name at the top right of the screen.
2. Click on “2FA” (Two factor authentication)
3. The slider will turn green.

What’s next?

Next time you log in, you’ll be shown 3 ways to complete 2FA:

Authenticator App: You must first have an authenticator app installed (available on Google Play Store/ Apple App Store). In your Grosik account, go to “Settings” » 2FA and click on the “GET QR CODE” button. Scan the code with the authenticator app and enter the presented code for validation. Next time you log in just check the app for the validation code and enter it where prompted.

Push Notification: Ensure you have validated your mobile device and have internet access to use this method. Simply enter your login credentials, press “Send Push” and you’ll instantly get a notification on your mobile device. Press “Authenticate” and you’re logged in.

SMS: Works in a similar way to Push. On receipt, enter the validation code when prompted.

All authentication codes are valid for five minutes and the timer starts from when the code is generated, not from when it reaches your phone. If the code times out you will need to repeat the process.

The account inbox allows us to send important information regarding your Equity Direct account direct to you. Through the inbox we will send messages that require your urgent attention and action, such as:

• Documentation requests for identity verification
• Notification of any changes to terms and conditions
• Direct messages regarding important operational updates to your account

We recommend you regularly review the preferences you have chosen for us to communicate news and offers to you. You can review and update these by:

1. Logging into your Equity Direct account
2. Going to “ Settings” under your user name on the top right hand corner of the screen
3. Click on “Communications”
4. Update the preferences by ticking or unticking the relevant medium ( email, push, SMS and post)

“Refer a Friend” is a reward programme that credits a £5 bonus to your Equity Direct account, each time a friend you have referred signs up successfully and sends a transfer with a value of at least £100. Refer a Friend is currently only available to UK residents.

Log into your Equity Direct account and go to “Refer a Friend” through the menu on the left hand side. Once there, you have several ways to invite your friends to sign up:

1. Copy the link displayed on your Refer a Friend page, and paste it onto your social media. Anyone who clicks on that link and signs up will be recorded as being referred by you.
2. Send an email- click on the icon and this will open a pop up where you can enter your friend’s name and email address. Click Send and your friend will receive an email with a link to sign up.
3. Send an SMS- Click on the icon and this will open a pop up where you can enter your friends name and mobile number. Click Send and your friend will receive an SMS with a link to sign up.

Once completed your friend will show as “Invited” on the Refer a Friend screen.

Your friend must sign up using the link they have received from you. Once successfully registered they must then make a one off transfer of at least £100 for the £5 bonus to be applied to your Equity Direct account. You can save up your bonuses to use as partial or full payment of your own transfers. You will see which friends have signed up on your Refer A Friend screen- their status will change from invited to Active. Once they make an eligible transfer, £5 will be applied and this will show against the referral details and on your referral balance.
Note: If your friend does not sign up using the link provided, we are unable to associate them to you as a referral and you may not be awarded any bonus.

You can save up your bonuses or use them one at a time as partial or full payment for your transfers through Equity Direct. When you make a transfer request the referral balance left to redeem will display at the last step of the process, and you will be able to choose how much of the balance you wish to use. Refer a Friend bonuses cannot be redeemed for cash.

You can export statements in either excel or PDF format, for a default date range or customised. To export a statement, follow the steps below:

1. Log into your Equity Direct account
2. Go to “Transactions” on the menu on the left hand side
3. Click on the icon displayed next to the date picker.
4. Choose which date range you wish to export. The choices are:
   • Current transactions- provides a list of all transactions that have occurred since the start of the month.
   • Monthly transactions- will default to the previous month, but you can choose any month and year.
5. Choose the file type you want to receive your statement in. You can choose from Excel or PDF.
6. The statement is emailed to your registered email address.

Yes you can. Registration for an Equity Direct business account is free and only takes a few moments to complete. We will ask for some information about you and your business to help us verify your identity. This is strictly confidential.

Our sign up team will then be in touch with you regarding any documentation that may be required to complete the account opening. Documents are submitted using secure links, keeping your business information safe. Once verified you will receive an email with your client ID and SMS with your password, and you are ready to start making payments.

Equity Direct business is available in the United Kingdom, Guernsey, Jersey, Isle of Man and Gibraltar.

Equity Direct currently facilitates payments to Kenya, Uganda, Rwanda and Tanzania.

Business clients can make payments up to £50,000 (or currency equivalent) per calendar month. If you need to send more, please get in touch.

The sending fee varies depending on where the money is being sent to, and the payment method used.
Our business clients receive premier rates and a preferential sending fee of just £1 for payments of any value to Equity bank accounts and mobile wallets, and between £1 and £4 for payments to other banks, depending on the value.

Transfers can be paid for using the following methods:

• Electronic bank transfer - Set up the transfer request and then send payment by logging into your online banking and requesting a funds transfer to our VFX account details. Payments are normally credited same day.

Note: Payments must originate from the Equity Direct Business account holder’s designated bank account. We cannot accept payments from 3rd parties or cash payments.

Electronic bank transfers are only processed during normal working hours, excluding weekends and bank holidays, when they are processed the next working day.