Mama Money is a South African money transfer provider that allows people working in South Africa to send money to their families in Zimbabwe at discounted fees.
Mama Money was formulated through the founders realization that most breadwinners who had families in neighbouring countries such as Zimbabwe wanted a money transfer facility that was reliable and sent money without really charging hefty transaction fees.
The Cape Town based company was founded Raphael Grojnowski and Mathieu Coquilon and currently only provides money transfers to Zimbabwe, with future plans to extend the service to other countries such as Malawi, Mozambique, Zambia and so on.
Zimbabweans arguably make up the majority number of migrants in South Africa due to its close proximity and they wanted to cater for that market with no hidden costs or margins on exchange rates, but only charging a flat fee of 5% of the money being sent.
How to send money through Mama Money
To send money you first have to create an order, adding the recipient’s details such as name, surname, cellphone number and amount you are sending.
Mama Money will send you a confirmation SMS with the Pay@No which you can then take to stores such as Ackermans, Checkers, Boxer, Pick n Pay, Shoprite, Spar or PEP and make your payment there. The money is reflected in the Mama Money account of the recipient almost immediately.
You can also make payments using online banking from ABSA, FNB, Nedbank and Standard Bank but you will need to visit their websites for instructions.
How to receive money through Mama Money
The recipient in Zimbabwe needs to get a free CABS Textacash Card which they can apply for at any CABS branch, and must bring with them their Zimbabwean Identity card and fill in the application form and have their Textacash card linked to their cellphone number through mobile sign up.
The money that was sent will then be deposited into the card and they can withdraw their money from any ATM. The card can be used at any ATM machine and you can use them to make purchases at supermarkets or pay for services like ZESA or DSTV.
Mama Money Contact Details
Get more details and start sending money to your loved ones using Mama Money by calling them on 021 202 5420 or by visiting their website www.mamamoney.co.za.