You can download the app from the Google Playstore for Android here and from the App Store for iPhone here.

Wallets

• Opening a mytalu account is free
• Opening additional Currency Balances is free
• Sending money to other mytalu users is free
• Sending money to a mobile money account incurs a cost of 2.5% of the value of the transfer

Virtual Cards

• Creating a Virtual Card is $3
• Topping up your card incurs a fee of $2
• Purchasing items in US Dollars through a mytalu vitual card incurs a fee of $1 per transaction

FX Fees

• Mytalu charges a fee on foreign exchange conversions of 1.5% on the daily mid-market rate on US Dollars, British Pounds and Euros
• On all other currencies, mytalu charges a fee of 3% above the mid-market rate

Other

• Paying for Bills costs $0.25 per bill (only available in Uganda)

We are currently live in the UK. In September we will be launching in Zambia, and then Tanzania in October. We hope to also launch in Uganda, Rwanda, and Kenya very soon.

When you add money to your account, the equivalent value of e-money is credited to your account immediately.

The money that we receive is placed into a dedicated client money bank account that is held with large commercial or central banks (client money accounts keep your money separated from our own money, and the banks that can be used are subject to regulations). This process is called safeguarding.

Funds are safeguarded until the e-money is used to either pay bills or send money to sub-wallets. 

With the safeguarding method, you, the mytalu account holder, are protected from an adverse event such as insolvency. In that event, you would receive the full value of your e-money balance from the client money bank account, where the funds were being safeguarded.

The money in your account isn’t covered by the Financial Services Compensation Scheme (because it is safeguarded instead).

For additional information on how to protect your app from fraud from Take Five, click here.

No, at the moment we only support fiat money, such as US dollars and Ugandan shillings which are backed by governments.

To view the mytalu onboarding process, you can watch our tutorial here.

To understand how to use your mytalu account, watch our Getting Started tutorial here.

Firstly, you must ensure all your digital wallets are empty of all funds. You can then close your account by heading to the Profile section in the app.

You can reach out to the mytalu team at any time by emailing hello@mytalu.io