Zapp, a money transfer service that operates through WhatsApp, announced the expansion of its services to Guatemala, Honduras, El Salvador, and Nicaragua. With this expansion, Central American migrants in the United States can now send money to family and friends back home directly through WhatsApp, eliminating the need for separate apps or in-person visits.
Recipients in the new markets can choose to receive their money through either a direct bank deposit or cash pickup at a broad network of banks and retail locations. In Guatemala, recipients have access to more than 15,000 banks and payment locations, including G&T Continental, Banrural, Banco Industrial, Elektra, and Banco Azteca. Transfers from $5 to $2,999 incur a fee of $4.74 for bank deposits and $5.74 for cash withdrawals, with a fixed rate for the entire range and no tiered increases based on the amount.
In Honduras, more than 8,000 bank deposit and cash withdrawal locations are available, including Banco Atlántida, Ficohsa, BAC Credomatic, and Elektra. Fees vary by transfer amount: $5.99 for transfers up to $200, $13.99 for up to $1,000, and $32.99 for up to $3,000, with the rate increasing by approximately $1.00 for every additional $200.
El Salvador offers more than 6,000 bank branches and affiliated businesses, such as Banco Agrícola, Banco Cuscatlán, Super Selectos, and Walmart. For transfers from $100 to $150, the fee is $4.99 for bank deposits and $5.99 for cash withdrawals. For amounts up to $500, fees are $9.99 and $10.99, respectively, and up to $1,500, fees are $19.99 and $20.99. Cash withdrawals incur a $1.00 surcharge compared to bank deposits, and the fee increases by approximately $1.00 for every additional $50.
Nicaragua has more than 5,000 banks and businesses, including Banpro, Banco Lafise, and BAC Credomatic. Fees are $5.99 for transfers from $100 to $200, $14.99 for up to $1,000, and $33.99 for up to $3,000, with the rate increasing by approximately $1.00 for every additional $100.
This expansion is significant because it addresses the needs of Central American migrants who rely on remittances to support their families. By leveraging WhatsApp, a widely used messaging platform, Zapp simplifies the transfer process and reduces barriers. The service operates as an authorized agent of Spectrum Global Payment Solutions, Inc. (NMLS ID 937914), a licensed money transmitter in Central America, and every transaction is covered by a money-back guarantee. Zapp is not affiliated with Meta or WhatsApp; it simply uses WhatsApp as a communication channel.
