In a move aimed at empowering freelancers, remote workers, and digital entrepreneurs across Africa, Raenest, formerly known as Geegpay, has announced the removal of deposit fees for its USD, GBP, and EUR accounts. This strategic update marks another significant step in the company’s mission to make cross-border payments seamless and affordable for African professionals and businesses operating in the global economy.
The zero-deposit-fee initiative means users can now fund their Raenest accounts without incurring extra charges—an important advantage for freelancers and businesses that frequently receive international payments from clients and platforms like Upwork, Fiverr, or direct corporate contracts. By eliminating deposit costs, Raenest aims to help its users retain more of their earnings while enhancing the convenience and speed of global transactions.
According to the company, this development aligns with its broader vision of simplifying international financial access for African talent. Since rebranding from Geegpay to Raenest, the platform has evolved from a gig-worker payment solution into a full-fledged global financial operating system for individuals and businesses. The brand refresh reflected Raenest’s commitment to supporting Africa’s growing remote economy, where professionals are increasingly earning and transacting in multiple currencies.
The move comes at a time when cross-border transaction fees remain a major barrier to financial inclusion in Africa. For many freelancers and startups, traditional banking systems often charge high rates for currency conversion and international deposits, eroding profits and limiting growth opportunities. Raenest’s zero-deposit-fee model directly addresses this challenge, enabling users to manage and grow their finances more efficiently.
Beyond free deposits, Raenest continues to offer virtual and physical dollar cards, invoicing tools, business accounts, and currency conversion services, all designed to streamline financial operations for its diverse user base.
With this latest update, Raenest strengthens its position as a leading fintech innovator in Africa’s digital economy—offering not just payment tools, but a borderless financial experience for the continent’s growing community of global professionals.
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