What Are Common Methods Through Which An Overseas Send Money Back Home?

It is common overseas Nigerians to send money to Nigeria back home. This is because a large percentage of the Nigerian population moves abroad for education or jobs. But they leave families back home and thus need international remittance to help them. Several platforms can be used for this purpose, but which one is the best? This is a question we are about to answer.

Before determining which medium is the absolute best in sending money globally, it is of particular importance to state that this is a question that has a subjective answer. Each of the ways one can send money has its pros and cons. Therefore, which one is the best option depends on your circumstances and requirements. With this being said, let’s have a look at the features, pros and cons of the different ways in which one can carry out money transfer abroad:

Can You Send Money Online Using Money Transfer Mobile Apps?

Many mobile applications can be used to send money to Nigeria online. All you have to do to use these apps is to download and install them in your smartphone, register for an account by adding your information and connect your bank account with the app so that the money can be transferred. The biggest pro of this method is that it is the most convenient. The entire service is present in the form of a few simple clicks. You can send money anytime and anywhere as per your desire. 

Is Sending Money Through Banks A Right Approach?

Banks are the most secure way to send money to Nigeria. Every country has banks, and they play a vital role in every country’s economy. There are two different options through which you can send money to any part of the world via banks. Either you can send the money directly from your bank account to the bank account of the receiver. The other method is to deposit the money in the bank account of the person you wish to send the money. This method’s pros include security, whereas the cons include the fact that this method takes a more extended period and the transfer fee is high. For the online money transfer to Nigeria, this is somehow expensive.

Why People Send Money Through Different Service Providers?

Many service providers can help you with online money transfer to Nigeria. ACE Money Transfer is one of them. The pros of using their services are that the money is sent very quickly, the transfer fee is lower, and the exchange rate is higher. Security is somewhat of an issue with this medium of sending money. Still, if you choose a reliable and trustworthy service provider like ACE Money Transfer, you do not have to worry about this aspect.