Question 1

Is Xaarlem taking my money today?

Accepted Answer

No. No payment, no deposit and no collection of funds happens on this site. The form only records an expression of interest.

Question 2

Is my account opened as soon as I sign up?

Accepted Answer

No. Signing up puts you on the list of people we contact first, as soon as accounts actually open at the partner bank.

Question 3

Who actually holds the funds?

Accepted Answer

The partner bank, which holds a banking licence and correspondent authorisation. Xaarlem is never the custodian of your funds.

Question 4

What documents will be required?

Accepted Answer

At account opening: a valid ID, proof of US address, and depending on the case proof of source of funds. Nothing is required at the waitlist stage.

Question 5

Do I need to travel to Dakar?

Accepted Answer

No. The journey is designed to be completed entirely remotely from North America.

Question 6

Can I open an account for a relative back home?

Accepted Answer

That is one of the needs we are measuring in the form. The terms will depend on the regulatory framework agreed with the bank.

Question 7

How much will it cost?

Accepted Answer

The fee schedule will be published before any account is opened. Our commitment: readable pricing, with no hidden margin on the exchange rate.

Question 8

What do you do with my data?

Accepted Answer

It is used solely to contact you and to size demand for the bank. It is neither sold nor shared. You can request deletion at any time.

Question 9

When will accounts open?

Accepted Answer

As soon as the regulatory framework and the technical integration with the partner bank are complete. People on the list hear first, on WhatsApp.

Question 10

Is Xaarlem a bank?

Accepted Answer

No. Xaarlem is a technology and identity-verification provider. We carry out no regulated banking activity of our own.

Frequently asked questions

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