FAQs | Lync

What is Lync?

Lync is a Banking-as-a-Service (BaaS) platform that gives African businesses the infrastructure to collect, convert, and move money globally, through virtual accounts, FX, payouts, and APIs.

Who is Lync for?

What countries does Lync currently support?

How do I open a Lync account?

Multi-Currency Virtual Accounts

What currencies can I collect in?

You can receive payments in USD, EUR, GBP, NGN, KES and GHS.

Do I need a local entity in those countries to receive payments?

How quickly are funds settled in my account?

Is there a limit to how many virtual accounts I can open?

FX & Payouts

Can I convert funds between currencies on Lync?

Yes. You can convert currencies (e.g. USD to NGN or EUR to KES) at transparent, competitive rates using our FX engine.

Where can I send payouts?

Are your FX rates fixed or floating?

Is there a minimum or maximum limit for payouts?

Invoicing

Can I generate invoices directly from Lync?

Yes. You can create branded invoices that are linked to your virtual accounts for easy reconciliation.

Can I track payment status?

Does Lync support recurring invoicing?

Can my customers pay directly via the invoice?

Expense Management

What are sub-accounts?

Sub-accounts let you segment your funds by team, department, location, or project. Each sub-account acts like an independent wallet with custom rules.

Can I set roles or limits on sub-accounts?

Can funds be moved instantly between sub-accounts?

How do I reconcile sub-account activity?

Bulk & Scheduled Payments

What does Lync’s bulk payment feature do?

It allows you to send up to 100 payments in a single click, whether it’s salaries, supplier payouts, or commissions.

Can I schedule payments in advance?

Can I automate bulk payouts via API?

Do I need to upload a CSV?

APIs & Embedded Finance

What can I build with Lync’s APIs?

You can embed everything from account creation, virtual wallets, FX conversion, invoicing, to bulk payouts, directly into your product or platform.

Are your APIs well documented?

Do you offer sandbox access?

Can I issue virtual accounts for my users?

Security & Compliance

Is Lync secure?

Yes. Lync is built on Waza’s bank-grade infrastructure and is certified to global standards: PCI DSS (cardholder security) ISO/IEC 27001 (information security) SOC-compliant (internal controls and transparency)

What compliance steps are required for onboarding?