Why Klasha App is Fairly Legit with Withdrawal Problems [Review]

We have reliable fintech apps, and also ones you can refer to as ‘shady digital nonsense’. This means that some of them are not worth it, and will only end up trapping your hard-earned money. So, in this review, we will be scrutinizing Klasha. Is Klasha app legit or is it just another digital scam? We’ll find out.

As far as the Nigerian fintech/banking industry is concerned, there are some apps you should never put money into because it will be stuck in it. You won’t be able to get your funds out. Some should just be taken down from the Google Play Store or App Store to protect users from frustrations. And then, we have Klasha, a financial technology company. How does this fintech app fare? A good one or a shady African app? Let’s review.

Reviewed: Is Klasha App Legit?

Is Klasha App Legit

Klasha is a fairly legit fintech app but its recent history has made it a questionable and disguised app. Let’s begin with Klasha’s major problem—making it difficult for users to withdraw their money and throwing downtime errors.

When you deposit money in your Klasha account, you could go weeks or months and never be able to withdraw the money. Sometimes, you don’t even get your money back. You might feel frustrated and eventually, just give up since you have no way to run to. You could even communicate with their customer care countless times, yet nothing positive from them. This is the biggest issue with this app that makes it shady.

Now, Klasha offers a virtual card at a very expensive rate. But that’s not the problem. Both the Pink and Black cards are a problem. If you applied for the Black card, no guarantees you’ll get it. You might even be debited multiple times for a card purchase but not receive it, and don’t even get a refund.

If you manage to secure a card, Klasha will deduct $1 for linking it to any website, even if the transaction isn’t successful. Also, if your card expires, Klasha will be quick to remove it from your account, alongside the funds in it, which is shady.

Klasha states this one on their policy page—you will be charged $0.5 if you unknowingly make a payment with insufficient funds. Everything about this app is just charges/fees but the general experience is terrible.

Let’s talk about the exchange rate! Klasha is very poor when it comes to adjusting its exchange rate to market price. Unfortunately, the only thing they are good at here is to charge very high when trying to fund it to your local bank account. That’s if you won’t face downtime errors.

Don’t be too quick to deposit your money here and not be able to withdraw it at your convenience. Unfortunately, the customer service never responds to messages. If they do, it’s hardly what you expect.

How Does Klasha Work?

Klasha makes promises, especially when you go through its homepage and ads carefully. The problem is meeting most of these promises.

With Klasha, you can send money globally, including the UK and the US. You can also make payments online in local African currencies, and even create payment links that others can use to send you payments.

Klasha also allows you to pay for Netflix, Apple Music, and Meta Ads but they are expensive, and most local banks can get this done at far cheaper rates.

Klasha also promises you the ability to create a virtual Visa dollar card. However, we have talked about the poor experiences, which makes this feature worthless.

There’s also a feature known as KlashaCart that lets you pay for your bills. You may be able to get instant cash-back but no guarantees.

Pros and Cons

Pros

Available on Google Play Store and Apple App Store.
Good user interface.

Cons

Extremely poor customer service.
Withdrawals take too long like months, and sometimes you are unable to withdraw at all.
Very expensive virtual card.
Frequent service downtimes.
High exchange rates.
You can’t create a virtual card here.
Klasha’s Pink card funding won’t reflect.

Is Klasha App Safe for Your Money?

With the shady problem of users not being able to withdraw funds, Klasha is probably not the fintech app you can rely on. There are currently no reports of customer data abuse on their part but that doesn’t mean you can trust your personal, bank, and device information with this app.

Klasha will collect personal information including your name, phone number, email address, home and office addresses, delivery address, product and service preferences, and responses) and your social network data (social media profiles and usernames). Required bank information includes BVN (bank verification number), and ID documents (driver’s license, voter’s card, national identification number, and international passport).

When you install the app, Klasha will also collect your device information, including IP address, browser type, mobile device ID, device type, operating system version, connection information, mobile network information, location derived from GPS-enabled services, etc. Klasha also collects information about your search terms and search history, camera, contact list, browsing history, purchase history, advertisement interactions, and other statistics, including transactions you carry out.

Verdict

So, you can see how much data you’d have to submit to Klasha. Well, it seems your money will get stuck on Klasha from all the experience and reviews. So, in this review, the Klasha app gets a 1 out of 5 stars because of the inability of customers to access their funds.