Social Cash is a mobile application registered under TechereX Global LTD with its banking services provided by Providus Bank. It allows users to socialize on their social media accounts and make transactions without exiting the app.
Social Cash was created and founded by Richard Chibo to allow people to buy, sell, receive and send cash from different people including your friends and families while on your social network.
How It Works
After a user registers and fully verifies the account, a domiciliary account accompanied by a current account registered with a Nigerian Bank will be assigned to the user due to the fact that Social Cash is not registered as a bank.
The amazing part is that you can do all these transactions while using your preferred social network and have peace knowing that their account and information is secured and in safe hands.
Social Cash Features
1. Access to Preferred Social Networks.
Social cash supports only Twitter, Facebook and Instagram. To use the social networks available on SC, launch the app, navigate to the preferred social media network using the icons at the bottom of the app then log in to the network.
2. Buy and Sell Dollars at Current Black Market Rate.
On Social Cash SC “Cash Box”, users will be able to purchase and resell USD at the current black market rate at any day and anytime. You can buy low when dollar rate falls and you can sell high when dollar rate rises.
3. Buy and Resell Airtime and Data.
You can buy airtime for yourself, friends, family, relatives and even your clients as long as they are using the 4 major Nigerian networks; MTN, Airtel, 9Mobile and Glo.
To buy airtime on Social Cash, simply log in to the app, tap airtime or data on the dashboard, choose your preferred network in the drop-down, type in the amount you wan to purchase, fill in the phone number and click enter.
4. Purchase Crypto.
Apart from dollars, users can buy crypto on the app safely although this feature is no available in version 1 of the app; it will be available in version 2.
You can buy or sell products and services safely without the fear of being scammed or if you don’t want to use Koji Agudah. However, this version has not yet been released; it will be released in the version 2 of the app.
6. Social Media Network Instant Video Download.
With SC, you won’t have to worry about saving videos or asking friends and other people to send videos you love to your inbox when you can easily do so.
Social Cash app users can download videos instantly on Instagram, Facebook and Twitter with ease.
7. Fast Forward and Back Forward Instagram Videos.
Normally, you cannot rewind Instagram videos but when you access it using SC app, those features will be activated
8. Fund Your Wallet.
You can save money by funding your wallet on SC cash wallet using your automatically generated account by Providus bank which is created when you create and verify account.
It has been noticed that there is currently no detailed transaction details and notification on the app, this might only be available when the 2nd version of the app is released.
9. Send Cash (NGN).
You can send cash using your Social Cash wallet however, you will need your valid BVN before you can start any banking transaction. They is a no transaction charge for all transactions.
Only NGN, Nigerian Naira is allowed for now however, it has been believed that more features will be activated at the beginning of next year.
10. Send and Receive Dollars.
You can now send and receive dollars from your friends, families and even business partners with no transaction fee using Social Cash.
Note that you cannot send or receive dollars outside Social cash platform unless you convert it to naira as it is against CBN policy, the Founder stated.
11. Fast and Reliable Customer Support
SC have a great customer support that are always eager to resolve all customers issues on the app however, if it doesn’t seem to work, ensure you have the messenger app installed.
Why Choose Social Cash?
With social cash, you get lots of amazing features all in one app and without using too much of your device storage. You can also earn on Social Cash if you are wise enough using the dollar feature, selling airtime or even data.
If you are someone that is usually cautious about security and privacy online, don’t worry because with Social Cash, you are totally secured.
It does not have access to any of your signed in account and if you are being hacked or about to be hacked, your account will be deactivated temporarily or permanently depending on the intensity of the situation.
Most importantly, Social Cash now gives $1 to every new user that has fully verified an account by adding his Bank Verification Number. Social Cash has been licensed to carry out all these activities.
Although the app has not been fully launched to the public, it has gotten more than 1000 active users and most of them have claimed that the app has been really good and amazing.
Till now, there have been no bad review of the app however, the app is still being updated and the second version of the app is soon to be released and is believed to activate the locked features.