What are the Common Challenges Faced While Sending Money to Senegal?

Senegal, a small state in the continent of Africa, contributes prominently in the remittance industry of the world. Back in 2005, the trend to send money online was negligible, but in 2018, the total international transfers were worth 573$ billion, which is three times greater than the international fundings. A major portion of this is comprised of remittances that are sent to developing countries, and Senegal’s remittance industry is one of them.

However, while doing money transfer to Senegal, several challenges are faced by both the sender and the recipients. Here is how ACE Money Transfer can help you in solving your all problems related to the online money transfer system.

1. How to Get the Best Money Exchange Rate?

Currency exchange rates change on a daily basis in the open stock market. One of the major struggles for any remittent is to get the best rate. You can do this by following some very easy yet tricky instructions that are written below.

  • Avoid weekends. Most of the people are free on weekends and they prefer to send money to Senegalin their free time. Well, the online transfer is not a time-taking process, so if you cut out 5 minutes from your workdays, it will help you in getting a very cheaper rate.
  • Tuesday and Thursday are the cheapest days for online money transfer. If you pre-schedule your transactions these days, you will get the best possible exchange rate for your transfer.
  • If any special holiday or festival is around the corner, then try to channel your payments a week before that. In the last days, every network is busy and the rate of transfer is elevated, which causes an increase in rate and delay in payment delivery.

2. How to Receive Payments Easily?

Ace Money transfers provide their customers with multiple payout locations. With around 275,000 payout locations, its very easy for the beneficiary to withdraw the payments. Moreover, you can also get the amount through various mediums including,

  • Get the payment online
  • Receive e-money in your wallet
  • Cash pick-up

In many cases, if the recipient doesn’t have an account on any money transfer service, then you can go for a door to door payment delivery system. The company will deliver your amount, in cash to the beneficiary’s doorstep. After taking a signature or stamp by the receiver, the sender is notified through SMS, Call or E-mail. It is also very useful for people living in rural areas where there are no banks nearby, and e-money facility is not readily available.

3. How to Track Your Payment?

Tracking the order helps people in getting to know the estimated time of shipment’s arrival. It also helps in giving satisfaction that how far has your transfer reached. For online money transfer to Senegal, ACE Money Transfer give you a specific shipment ID after every transfer. This can be used to check your transfer’s status at any given time. You can also share it with the beneficiary or any other relevant person.