Send Money to Nigeria: Nigeria is a populated country situated in Africa. People living in Nigeria, send approximately 20 billion dollars to their home countries a home year, which makes an average of 1300$ for each migrant working in Nigeria. According to research, people spend usually 5% extra funds on marked-up exchange rates and service charges during international money transfers. Here are some tips that can help individuals in saving their money by avoiding unnecessary fees and hidden charges.
CHOOSE FROM TOP-10 COMPANIES: Always choose a company from the top-10 graph, because all top companies have optimized exchange rates and great offers for transferring money between different states. Three companies are shortly briefed right below.
- Azimo: It is an IMT provider which is providing free money transfer at your first transaction. They have implied the zero markup policy on currency exchange rates and is an excellent choice for all the people who have to send money only once. They have a mobile app too and you can have a free transfer is you make a transaction for the first time through azimo app.
- Ace Money Transfers: It is also an efficient and credible company used to send money to Nigeria. With more than 10,000 payout locations and 1400 banks, it has made it very easy for the customers to send or receive any payment online. They have zero-markups on exchange rates and the currency exchange rates are totally optimized. You can send money on an immediate basis within seconds and the whole process is very user-friendly.
- XE Money Transfers: This company claims to have a 0$ transfer fee. It means you will not have to pay for any service charges if you are using their platform. It is a very good choice for people who have to send money regularly to their origin countries. Money can be transferred online or by phone too.
HOW TO TRANSFER MONEY TO NIGERIA?
If you want to send money online to Nigeria, then the process is quite simple.
- Choose the IMT provider according to your criteria.
- Enter the country and amount
- Enter recipient details.
- The money will be deposited into the recipient’s account. They can pick that from any nearest bank or payout location.
If you are sending money in $, then you may not have to pay any transfer fee but sometimes companies can ask for some cash such as 15$ per transfer.
CHECK THE EXCHANGE RATE POLICIES: If you want to send money globally, always check the exchange rate policies of your IMT provider. Some companies may offer cheaper exchange rates on larger transactions such as 5000$ or more. If you find any policy like that, try to make one large transaction instead of many smaller transactions.