In a region where cross-border payments, currency conversions, and withdrawal delays can eat into your hard-earned income, Grey offers a modern solution that fits perfectly for East African freelancers. As a fintech platform formerly known as Aboki Africa, Grey allows users in Tanzania, Kenya, Uganda and other East African markets to open foreign currency accounts, receive payments internationally, convert currencies, and withdraw locally all with transparency and lower costs.
What is Grey and Why It Helps Freelancers in East Africa
Grey is a digital financial platform that enables users to:
- Open USD, EUR, and GBP (and sometimes local currency) accounts virtually, so you can receive payments like a local in major currencies.
- Convert between currencies at competitive rates.
- Send money locally or abroad, including peer-to-peer (P2P) transfers, with clear fees.
- Use virtual cards to pay for goods and services internationally.
- Manage expense tracking, bill payments, and more financial tools from one platform.
For freelancers in East Africa, this means clients abroad can pay you into your Grey foreign currency account, you convert at favorable rates (or hold in that currency), and then you withdraw into your local bank or mobile money. This helps preserve more of your income from hidden bank charges or poor exchange rates.
How to Create a Grey Account
Here’s a step-by-step:
- Visit the Grey Website or App
Go to the Grey site (e.g. the Tanzania version: grey.co/en-tz) or download the mobile app. - Sign Up / Register
Provide your email, phone number, and a chosen password. - Complete KYC / Verification
Submit a valid government ID (passport, national ID, driver’s license), proof of address (e.g. utility bill), and take a selfie for identity verification. - Open Foreign Currency Accounts
Once verified, go to “Accounts” and request to open USD, EUR, or GBP accounts (sometimes automatically available). - Share Account Details Use your account details (IBAN, etc.) to receive payments from clients, platforms (Upwork, etc.), or local banks.
Services Offered by Grey
Here are the main services you, as a freelancer, will find useful:
Withdrawal Methods & How to Get Funds Locally
Once you’ve been paid or converted your funds, you need access locally. Here’s how Grey handles withdrawals in East Africa (for example Tanzania):
- Mobile Money & Bank Transfers
In Tanzania, Grey supports withdrawing (sending) money via Mobile Money (e.g. Airtel, Mixx by Yass, M-Pesa) instantly.
Bank account withdrawals are also supported in some cases when you select your TZS balance and initiate a send.
- Local Currency Conversion
To send money to Tanzania, you must fund a TZS (Tanzanian Shilling) balance (i.e. convert your foreign currency into TZS) before sending. - Availability
If you are in Tanzania, bank transfers may not yet be supported in all instances; mobile money is often the faster option. - Delay & Processing Time
Mobile money transfers are near instant once you execute the send. Bank transfers may take standard banking times (which vary).
For international withdrawals (e.g. USD via SWIFT), expect 1-4 business days.
- P2P Transfers
If both parties use Grey, transfers between Grey accounts may be instant with no extra fees (depending on currency).
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