Everything you need to know about the SnapScan Wallet

At SnapScan, we believe that all payments should be quick and simple. We recently updated our Wallet feature to help you make the most of your SnapScan app – now you can easily send or receive money from friends.

But we know that exploring new features can be daunting (especially when there’s money involved!), so we’ve written this article to help you use the SnapScan Wallet with ease. 

1. What is the SnapScan Wallet? 

The SnapScan Wallet is basically a digital bank account. You can top up your Wallet, or send money to a friend’s Wallet. Money in the SnapScan Wallet can be used at businesses that accept SnapScan or within the app.

Read more: The SnapScan Wallet: the digital account you didn’t know you needed

2. Do I need to top up my Wallet to use the SnapScan app?

You don’t need to top up your Wallet to pay for things when using the SnapScan app. When you make a payment, the default payment method is the bank card that you’ve loaded onto the app.

However, if you need help staying on track of your financial goals, you can use your Wallet as a budgeting tool. Top up your Wallet to set money aside for daily expenses. You can then pay your expenses using the money in your SnapScan Wallet. Read this article to learn how two SnapScan fans are using their Wallet to manage their finances.

3. How do I use the money in my SnapScan Wallet to pay for my purchases?

After scanning a QR code or clicking a Payment Link, you’ll be taken directly to a business’ payment screen. From there you’ll be able to enter the amount and choose your payment method. Select ‘Pay with Wallet’ to use the funds stored in your Wallet.

4. How do I send money to a friend’s SnapScan Wallet?

To send money to a friend’s SnapScan Wallet, you first need to connect with them in the app. You can connect with them in one of two ways. If you’re in the same place as your friend, you can scan the QR code in the Receive section of their Wallet screen in the SnapScan app. If you’re in two different places, you can send them a link via text or Whatsapp to connect. Once they’ve accepted your connection request, you can send them money at any time. 

Watch this video to see how you can send money in a snap:

5. What happens when I verify my app?

Verification is a once-off process that allows you to withdraw funds from your SnapScan Wallet to a linked bank account. You can also send money from your Wallet to a friend’s Wallet. To verify your app, head to the menu in your SnapScan app. Tap Account Settings > Verify account, and then click the edit icon and follow the prompts.

It may take 1-2 days for your details to be verified, but you’ll be notified as soon as everything is set up. 

6. What if I’m struggling to verify my app?

You will need a South African ID book or card, or passport to verify your SnapScan app. If you are struggling to verify your app due to the app struggling to scan your face, please try again in clear lighting, or scan in a different form of identification if the troubles persist.

7. How do I withdraw funds from my SnapScan Wallet?

After you’ve verified your app, your Withdraw feature will be active. You’ll now be able to withdraw funds from your Wallet to your linked bank account. Head to Wallet > Withdraw, then enter the amount you wish to withdraw. 

Watch this video to see how it’s done: 

Head’s up! There’s a 3.5% fee when you withdraw money from your SnapScan Wallet to your linked bank account.

8. Can I use funds in my Wallet for Prepaid? 

You can use your Wallet funds to buy electricity and pay your bills in the SnapScan app. However, you are currently unable to purchase data and airtime with your Wallet funds.  

Read more: Silence the beeping meter: recharge electricity in a snap

 9. Do I have to pay a fee to use the SnapScan Wallet? 

You won’t be charged for topping up your Wallet, paying from your Wallet, or sending money to a friend. There’s just a 3.5% fee if you withdraw funds from your Wallet to a linked bank account. 

You’re now equipped with the knowledge to use the SnapScan Wallet with confidence! Get started by heading to your SnapScan app, or read this for ideas on how to use your Wallet.