Problems that people face when trying to send money to Nigeria from UK

There are many problems that people face when trying to send money to Nigeria from UK. One of the main problems is the high fees that are charged for the service. Another problem is the amount of time it takes for the money to be transferred. The process can also be quite complicated, which can lead to people making mistakes when transferring money.

High Fees while making Money Transfers

One of the main problems for people is that there are high fees to make a  money transfer to Nigeria. The estimated average fee for sending $500 USD to Nigeria is £84. This is a very big amount and can make a large hole in someone’s budget if they need to send money frequently. Not only this, but it also makes it harder for people who don’t have much money to spare, since the high fees mean they will be getting back considerably less than they sent.

Money Transfer Takes Time

Another problem is that it takes time for the online money transfer to Nigeria to go through, which could cause issues if someone needs to get hold of their cash quickly. A person could find themselves without money for a period of two weeks or more. It’s also important to note that if someone needs their money urgently, there are usually extra charges on top of the fees for sending money.

Process of sending money

The process can be complicated and lead to people making mistakes when transferring money. One of the main problems with money transfers is that the user might not know where to start. If they make an error in their transfer, it could mean they won’t get their cash at all. A person could also mistakenly send their money to the wrong account or run into problems because they didn’t include any necessary information. Another problem is that most online services around today will ask for specific information related to Nigerian bank accounts, which many sites do not explain clearly enough. This means it can be difficult for someone who isn’t familiar with this system to understand how it works.

Best way to send money to Nigeria

ACE Money Transfer is one of many options, but it is considered the best way to send money to Nigeria. Other service providers in the market are not always the most suitable option because of their high fees and complicated methods. ACE Money Transfer offers a service that is cheaper, and they also have many payout locations around Nigeria. Any person who needs to send money instantly to Nigeria should use ACE Money Transfer as it’s much more reliable and fast. Their cash will arrive at its destination within a couple of hours (on Business Days), which is much better than the wait times for any other method.

Lastly, those looking to save money should try to find someone who can help them send over money from relatives or friends living abroad as the costs could turn out to be very low.

Conclusion

To summarise, there are a number of problems that people face when trying to send money to Nigeria from the UK. One of the main problems is the high fees that are charged for the service. Another problem is that it takes time for the money transfer to go through, which could cause issues if someone needs to get hold of their cash quickly.

A person could find themselves without money for a period of two weeks or more. It’s also important to note that if someone needs their money urgently, there are usually extra charges on top of the fees for sending money.

The process can be complicated and lead people to make mistakes when transferring money, so they might not know where to start or how it works at all. Lastly, those looking to save money should try asking their relatives or friends living abroad for help as it could turn out to be very cheap.