Online money transfer has gained massive popularity within the last decade, all over the world. A multitude of efficient banks, companies and agents are providing their online services to send money to Nigeria safely. Here is a short guide for all of the people who are looking for a quick guide to send money globally.
What is the Common Process of Sending Money?
To send money to Nigeria online, you will have to follow a hassle-free, three-step process.
- Enter the amount(that you want to send) and country
- Enter the basic details of the recipient such as an address, account number, phone number etc.
- Your payment will be sent!
People are not restricted to visit the commercial bank’s branch or go to an IMTO solely to transfer some bucks. Just a fast speed internet and few clicks on your mobile phone are more than enough to make international transfers now. Technology has facilitated everyday tasks in every person’s life.
How Can You Choose a Reliable Money Transfer Service?
To send money online, you’ll have to select the provider first. There are certain factors which should be kept in consideration while opting for a service provider such as Exchange Rate, Service Fee, Safety, Transfer Time and payout locations. As important as it sounds, for large transfers, the choice of a wrong provider can cost you a fortune. For avoiding all these barriers, here are a few steps that will help you in hiring the best provider, according to your requirements.
- Never Avoid Exchange Rates. Check the current stock market rate before making your transfer and calculate if the quote provided by your provider and the rates available on official stock websites are equivalent or not.
- Every provider has some hidden fee, but you must choose the one with the lowest. For calculation of the hidden fee, solely subtract the original rates from the provided rates.
- Demand Transparency. Never trust someone with closed eyes and check all fee policies before making a transfer. Ask about any extra/additional charges, so that you can calculate your total cost in advance.
- If you are a migrant who has to send money regularly, then avoid using credit or debit card, as they may cost you a higher transfer fee.
- In case of online money transfer to Nigeria, safety and reliability are very important. Keep in mind that 90% of online cash scams are done in the disguise of money transfers. Always check the transfer history or balance sheets of the company before handing over your payments or entering your confidential details.
- Try to choose a provider from the top-10 recommendations. In Nigeria, companies such as ACE Money Transfer are providing reliable services. For the online money transfer to Nigeria, considering them will be more credible for you, rather than trusting a new one.
- Last but not least, check the provider’s transfer limits. Ask if they have an urgent money transfer serviceto cater to your immediate needs.