Fascinating ways of money trading in NigeriaJohn September 19, 2019 0 COMMENTS
The ACE Money Transfer is functional in nearly seventy countries all over the world. So it is likely wherever you are, your country might fall into these 95 countries with these facilities.
Standing for Money Transfer, the ACE Money Transfer is listed in the UK having its important users in the UK as well as in Europe. ACE has worked meticulously in gaining the confidence of its clients of Asian countries and the Gulf community in the latest years. This has promoted the ACE in receiving an improvement in the disbursements largely in countries like Pakistan, UAE, Bangladesh, Romania, India, etc.
ACE, having gained the faith and trustworthiness of the customers and the prodigious and palpable efforts of the workers and employees, has come to fresh tendencies in the structure of the payments. Still, it is working to inflate its services in the countries already having the amenities of ACE as well as in those countries which are new to ACE.
Sending Money to Nigeria
People fall into the need to transfer money to other places from time to time. With the ease of having able to send money online, this need can be eased by send money to friends or family members and even to the businesses. Besides the involvement of the sender and the receiver, there is a third party involved in this process. There is an easy process to transfer money to Nigeria.
Nigeria is located in the west of Africa with being the world’s thirty second largest countries. The Nigerian economy is expanding and the technologies are improving with time and reach an extraordinary clink. The businesses are working efficiently there with national and international projects and the banks are dealing with their national currency as well as foreign currency. The international currency is being sent to Nigeria in many different ways and the work is going on very smoothly.
The send can transfer the money through the bank or by any other service provider, who help to ensure the safe transfer of the money to the required recipient, in this case, Nigeria.
The sending of money online requires the sender to contact any of the third party, be it a bank or a service provider. For this purpose, the sender can have the conservation with the third party face to face, through a phone call or by online means e.g. email video call, etc.
The transfer could be of cash or value through a bank account. In any case, the service provider makes the money available for the recipient by either through a bank deposit or by cash pick up at some agent’s location.
Phases of Sending Money to Nigeria:
- An account is to be made containing all the personal information and biodata such as name, date of birth, contact information, etc. with the money sending service provider.
- The information of the person who is receiving money is to be provided.
- Among all the options for the transfer of money, select one which is better suited to your case. After that, all the detail of the transfer is to be provided
- The transfer of money can be traced through the receipt or notification through every step of transfer.
Comparison of Money Transfer between Banks and Transfer Companies:
Along with other so many services, the banks also provide the option for its customers to be able to send money online to their desired people. Though at other services where one might find banks very helpful, the service of money transfer by the banks is not quite preferable especially while given the fact that there are other money transfer services to be considered.
Talking about sending money to Nigeria, most of the US banks are there to transfer money and funds to people and organizations in Nigeria respectively. But drawbacks are using these services through banks. The transfer charge is high than reasonable, especially while comparing to other money transfer service providers.
Also, there is a disadvantage that the exchange rate is kept so low matching to the rate of the mid-market. Even the rate used for the interchange between the banks and the service providers themselves is greater than the rate offered by banks for sending money online.
How to Choose a Company for Sending Money Online to Nigeria:
Sending money online to some far-flung places is somewhat a risky task mainly when you are new to such things. There are thousands of websites there to guide you but most of them are fraudulent. In such cases, it needs to have full knowledge about the companies that are providing these services.
There are some key elements to compare between companies when you are considering selecting one. These are:
· Exchange Rate
Different companies offer different exchange rates for customers. For finding the best company where can get your work done at a lower cost as possible, it is important to compare the margins between the different exchange rates of different companies.
· Transfer Fees
In addition to the exchange rate, the transfer fee also differs for different companies. Some companies charge this fee according to the amount of money. For a large amount, there is a high fee and vice versa. But some providers charge a flat fee. So it is important to find such companies who charge less compared to others.
· Transfer Speed
There are some cases where the transfer is needed to be urgent. The urgent transfer charges higher but speed is ensured. The companies like MoneyGram and Western Union are there for such cases where the money is sent within minutes.
· Payment and Delivery Option
Depending on the nature of the company there are different options for paying and delivering money. Some allow credit card payments others make call payments or through apps. Accordingly to your feasibility, pick any desirable option.
· Hedging Option
Many people have the insight of sending money online ahead of time with the hope of saving themselves from the fluctuations in the market while getting into a forward contract.
· Customer Support
Most money transfer service providers work on their service of customer support. They try to establish strong relationships with customers to get their loyalty and support with the best.