Our goal is to make sending money around the world instant and as close to free as possible. We charge fees for a limited number of activities that cost us money. Peer-to-peer transactions on Sling Money are instant and free.
We charge money for adding money to Sling Money and, in a limited number of countries, charge money for transferring money from Sling Money to Mobile Money providers. Peer-to-peer transfers on Sling Money are free.
If someone sends you money on Sling Money you can send it to someone else with Sling Money for free and with no Foreign Exchange (FX) markup. Once they have it, they can send it to someone else for free, too. Once money is on Sling Money, it can be sent and received an infinite number of times for free.
Where we charge fees
Peer-to-peer transactions on Sling Money are instant and free. We charge no money for these transactions and do not make money from Foreign Exchange on peer-to-peer transactions.
Adding Money costs a small amount. This amount varies depending on what country you're in and what method you use to add money. Fees for adding money to Sling Money are generally lower than what competing traditional products charge for a single international transaction. Once money is on Sling Money, it can be sent and resent an infinite number of times with no additional fees.
Removing Money from Sling Money is free in most countries. We charge a small fee for transferring money from Sling Money to Mobile Money wallets, for example in Kenya and Ghana. This is because those transfers cost us a lot more than similar transfer methods in other countries.
Claiming a Sling Link is free in most countries. Like removing money from the Sling Money app, we charge a small fee for transferring money from Sling Links to Mobile Money wallets, for example in Kenya and Ghana. This is because those transfers cost us a lot more than similar transfer methods in other countries.
How you can see how much Sling Money charges
Whenever we charge money we will present you with a screen in-app that clearly shows the action you've requested and what fees we will charge for the service. You will have the choice of whether or not to continue with the transaction.
Does Sling Money "mark up" Foreign Exchange (FX) rates?
Sling Money does not "mark up" the rate of exchange between currencies. For most currencies, we use the "mid market" rate as published by CurrencyAPI.
For certain currencies that have less liquidity in the market, we may use a rate provided by our local partners to set the rate of exchange within the Sling Money app. This is the case, for example, for most African currencies and some currencies in Latin America.
When using a rate set by one of our partners we do not "mark up" the rate and we always negotiate the best available rates with our partners and pass those rates on to our users directly.
How do Fee Credits work?
You may receive some amount of "Fee Credits" from Sling Money when you sign up, or on an ongoing basis. You may also sometimes be "gifted" Fee Credits from Sling Money or other users from time to time. You can always find the amount of Fee Credits you have in the App by visiting Settings -> Limits & Fees in the Sling Money app.
If you have Fee Credits we will always apply use them to reduce the amount of fees you may owe on a given transaction first, thereby reducing the amount of Fees you owe on the transaction. Any Fee Credits used to reduce fees on a transaction will be deducted from your Fee Credit balance once the transaction is complete.