Myths VS Facts – Busting & Common Myths About Online Remittances

Expats send money to Nigeria to help the developing world alleviate poverty, encourage healthy livelihoods, and increase production. A rising number of Sub-Saharan Africa governments have initiated cash transfer initiatives aimed at low-income families over the last decade.

Even though this remittance has helped local economies and many families, critics remain sceptical. Let’s take a closer look at a few popular international cash transfer myths to see if they can help improve food and nutrition protection while also reducing rural economic issues.

What is the fact behind the International money transfer is a time-consuming myth?

The common assumption is that send money to Nigeria online take a long time (sometimes weeks) to complete, thanks to International money transfer agencies. The explanation for this is, internal processes are complex and interdependent, resulting in slower operation through banks. Furthermore, it is essential to note that foreign payments are not a bank’s primary sector. Internal money transfers, international bank transfers, mortgages, personal loans, company loans, student loans, savings, offshore accounts, and other financial services are all handled by banks.

That’s where ACE Money Transfer and other related services will support. Transferring money internationally with ACE Money Transfer usually takes not more than 24 to 48 hours. Certain circumstances, however, can affect the payment schedule. Furthermore, both the transmitter and receiver countries’ banking structures and holidays affect the transfer period, but a mobile wallet app is available to get instant payments. The advantage of ACE is that, unlike banks, it keeps you informed about your funds’ status. At each point of the transition, ACE Money Transfer keeps its clients informed via email and SMS. Users can also monitor their transfers on the go using the ACE Money Transfer official website and app. So, if you plan a money transfer to Nigeria to support your family, you should go for an online money transfer service. Online money transfer companies like ACE Money Transfer is fast, safe and secure. They also offer fee-free service with the highest exchange rates.

Why People Have A Misconception About Digital Money Transfer Safety?

Because of security issues, some customers are reluctant to use a mobile money transfer app for online money transfers to Nigeria. Such concerns are unfounded, as these apps have introduced layers of protection to ensure that your sensitive information is kept secure. Your data cannot be accessed without the correct login information, even though your phone or laptop is stolen. There are also additional approvals and security queries in most cases, making it almost impossible to misuse your app’s digital wallet. Above all, The Financial Conduct Authority (FCA) authorized and regulated remittance companies like ACE Money transfer never compromise on customers’ money.