Can I use Cendit outside the UK?
At present users can only send money from the UK to the 71 countries Cendit is currently used. People receiving their money will then be able to withdraw their funds in to their normal bank accounts.
How do I know if the recipient has an account?
There are two ways to discover if your recipient has an account. Firstly, you can go in to contacts and search by a persons name or twitter name. If the person isn't a direct contact you can perform a global search, which will search all our users for the person you wish to send money to. If they are not found, you can then send them an invite to join. Alternatively, you can type in a mobile number or email and Cendit will locate the person for you. When sending the payment you will be notified that person isn't registered and will receive a notification of the money you're sent them.
What is a Verification Code?
This is a layer of security we have added for your comfort. We highly recommend you use this for every transaction. By adding a Verification Code to a transaction, no one can receive the money unless you personally provide them with the code. This means that if you send money to the wrong person you are protect and can retrieve your money. The recipient has 3 attempts at getting the Verification Code correct, if they do not you will receive the funds back and you may incur a fee in doing so.
How much does it cost?
The more money you send through Cendit the cheaper the transaction cost. £1-2,000 we charge 1%. £2,001-5,000 we charge 0.75% and £5,001-10,000 we charge 0.25%. Each transaction a SWIFT charge is added of £5.50. We do not make any money from this charge. If is a fee levied by a third party.