Frequently Asked Questions
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This question comes up frequently, and it’s important to understand the fundamental difference between Daba and traditional mobile money services.
What’s the difference between Daba and mobile money?
Daba is not a mobile money service. When you deposit funds on Daba, you’re funding the cash balance/available balance of an investment account, not a simple electronic wallet.
Key differences:
- Mobile Money: Simple money transfer between electronic wallets
- Daba: Investment platform with secure cash balance subject to strict financial regulations
When you make a withdrawal on Daba, you’re withdrawing from a regulated investment account, which involves more rigorous security and compliance protocols.
How long do withdrawals take with traditional providers?
With traditional SGIs (Investment Management Companies) and investment platforms, standard timelines are:
- Withdrawal confirmation: 1-2 business days
- Bank wire initiation: 1-2 additional business days
- Funds receipt: 1-2 additional business days
Typical total: 2 to 6 business days
What innovation does Daba bring to withdrawals?
Daba revolutionizes the withdrawal experience by combining mobile money speed with investment account security:
🚀 Instant withdrawals:
- Amounts up to 25,000 FCFA: Instant processing for Daba Pro. And 10,000 FCFA for non-Daba Pro
- Available 24/7 for Daba Pro customers
- Mobile money speed with investment account protection
⚡ Accelerated withdrawals:
- Higher amounts: 24-72 business hours (vs 3-6 days traditional)
- Much faster than traditional options
- Priority processing based on customer status
How does this innovation work technically?
For small amounts (instant):
- Pre-positioned liquidity for immediate processing
For larger amounts (24-72h):
- Secure transfer from investment account
- Then sending via bank wire or mobile money
Why this hybrid approach?
This innovation allows us to offer you:
- Best of both worlds: Speed + Security
- Regulatory compliance: Standards compliance
- Fund protection: Security of regulated investment accounts
- User experience: Speed close to mobile money