How to win trust for a new money app
By SendPay Business · · 2 min read
People will try a new food app on a whim. They won't try a new money app that way. Before anyone moves money through your platform, they want to know who you are, who holds their money and what happens if something goes wrong. Answer those questions clearly and early.
Say who holds the money
Be plain about it: the accounts and payments on your platform are powered by licensed partners, and you are the brand people deal with. Put that on your homepage and your FAQ, not in small print.
Never call your platform a bank unless it holds a banking licence. It breaks the rules in most countries, and people trust you less once they find out.
Show every fee up front
Hidden fees are the biggest complaint people have about the big providers. Beat them by showing the full cost of every payment or transfer before people press send, including any exchange rate markup.
- List your fees on one page, in plain words.
- Show the total before every payment.
- Show the exchange rate you use next to the real one if you send money abroad.
Be a real person
Put your face, your name and a way to reach you on the site. Answer messages quickly, in the language your users speak. A founder who replies on WhatsApp beats a call centre queue.
Let people start small
Nobody moves their salary on day one. Give them a small first job, like paying a friend back, sending a small amount home or paying one invoice. Once that works, they come back for the next one.
Borrow trust you already have
If your community, trade group or customers already know you, launch to them first and let them tell others. A recommendation from someone they know is worth more than any advert.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
Can I call it a bank?
In most countries "bank" is a protected word you can only use with a banking licence. Call it an account, a wallet, an app or a platform. The accounts and payments behind a SendPay Business platform are powered by licensed partners.
Do I need my own licence?
The accounts and payments are powered by licensed partners. Depending on what your platform does and who it serves, you may also need your own registration, which you complete through the partners before going live.
How do I show my fees clearly?
Work out what you charge, then check it against what your users pay today. The free calculators help.
Money transfer cost calculator →Is there a step-by-step plan I can follow?
Yes. The free launch checklist takes you from picking your people and naming your app to setting fees, going live and winning your first ten customers.
Digital bank app launch checklist →How do I start?
Pick a template, name it and preview every page before you pay. Your platform can be live on your own domain within 24 hours of confirmation.
Build my platform →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.