Problems Incurred While Doing Money Transfer to Senegal

A lot of immigrants from Senegal work in other countries for financially supporting their families or loved ones. These ex-pats have to send money to Senegal, regularly for fulfilling the needs of their family members.

According to research, about 70% of the expenses of a household, with an immigrant working in another country, are met by spending the payments transferred by the ex-pat.

However, various issues are faced by people during money transfers. Some of them are explained below.

1. Currency Exchange

Every state has a specific currency, and each of them has a different value in the stock market. For spending the payments, they should be in standard currency or changed before expenditure.

But, going to currency exchangers and then transferring it to the beneficiary is a long process, which requires unnecessary effort. Thereby, having a money transfer service which exchanges the currency during the process is very integral for smoothing overseas transmissions.

2. Mark-Ups

Keeping the issue in consideration, almost every provider added currency exchange option so that people can easily send money online, without having to interchange the currencies. But, there came another problem.

Markups which basically means giving a lower or higher rate to the customers, resulting in a lesser return of payment. People faced issues in getting optimized rates, which means giving extra costs for doing online money transfer.

3. Lesser options for cash Payout

After successful proceeding of transfer, it is also essential to keep in mind that the beneficiary must be able to access his/her payment easily.

People living in rural areas of Senegal, had to travel and incur extra costs solely to get the transferred amounts. The limitations in options to receive payments created a fuss for remittent families.

4. Complicated Processes

One of the major reasons why people hesitate during online transfers is the dilemma of complicated processes. People who don’t have enhanced know-how about technology assume that the method is too difficult for them to use, and hereby they face issues in sending their payments by using digital channels.

How ACE Money Transfer came up with the best Online Money Transfer System in Senegal?

For a money transfer to Senegal, ACE Money Transfer is an efficient platform. They have made its worth by providing peerless remittance experience to its customers.

They take care of customer’s needs and have designed a process which suits all your requirements. At the podium, they provide customers with;

  • Optimised Currency Exchange Rates
  • Cheapest costs with transfer fee starting from as low as 0$
  • A multitude of payout locations and affiliations with major banks of Senegal
  • Fastest services, enabling to send money within a few seconds only!

With the trust of thousands of people, they have displayed the reviews of users at the top-display for your satisfaction. You can trust them for channelling your payments safely to anywhere in Senegal.