Although there are many ways to send money to Nigeria that will help you to quickly and securely transfer money to your family back in your home country. Usually, people send money to their home country from abroad for reasons like education, household expenses, and other common goals. Banks are the oldest and traditional way to send money for both national and international payments. Most of the banks have graduated to send cash in recent years. Bank transfers to Nigeria complete within four days or more, and they charge a high transfer fee in the process of sending money. But you have the convenience to while using this method because almost everyone in developed regions has a bank account.
Nowadays, approximately 85 per cent of transactions are done through online money transfer companies. The most common reason is most of the population is aware of the whole method of using online money transfer services.
Send money through an online money transfer app can directly withdraw from the recipient bank’s account. It can also withdraw from banks ATM. Generally, banks don’t offer a reasonable exchange rate and charge a high fee. That’s why people send their money through money transfer services because of fewer charges and quick and fast service.
Online Money Transfer Company
Money transfer companies are one of the spectacular methods to send money online. The main reason is those companies charge a low fee. Also, it offers faster and secure money transfer services. The price is more economical than banks and online payment systems. It is convenient to send money because online portals are there to initiate a transaction. Setting up with these companies is easy. There are several ways provided by money transfer companies to send money. The cash pick option sends your payment to the specified location or agent location to where your recipient can pick up cash easily. Through cash pick up, the money will reach its destination within minutes.
While selecting a method, look for the process in detail. If you are using online money transfer services, they are effortless to money transfer to Nigeria, and all options and accessible pay-out partners are visible. The main thing is online companies provide the best way to send money online to another different country.
Usually, a money transfer company take a maximum of twenty-four hours. And credit card or debit card transfer through banks takes a maximum of 4 days. One important note is Nigerian banks do not process the remittance funds on not working days or public holidays. If you consider selecting a bank service, ready to pay a high transfer fee, it will affect total funds transfer. The price and bank charges will deduct from the total funds. That is why your recipient will get a lower cost when the amount deducted as the charges to banks. If you consider selecting an online money transfer service, it will charge a minimum transfer fee. As the cost is deducted from the total money transferred and it will not affect much. It also offers high exchange rates.
Convenience is the primary concern of a sender. If you are sending money from a bank, you must fill out forms to send money to Nigeria online. There is a long process while sending and receiving payment. If you are sending money online through a money transfer company, you must enter information about you and your recipient. You can send money to your recipient in some taps while sitting at home.