Do you know about quick ways to send money to Nigeria? In this article, we will look at some of the misconceptions about sending money online. It is important to debunk these misconceptions because there are many people around the world who are still reluctant to send money through online money transfer companies, fearing they may fall victim to one or some of the following misconceptions.
This article will be your complete guide to understand that these misconceptions do not stand their ground, and it is appropriate to get rid of them once and for all.
Here is a list of these misconceptions.
A cumbersome process:- People think that since online money transfers are based on technologies, therefore, they require a lot of technical expertise to process transactions and also that due to the involvement of technology it is a difficult and cumbersome process. But, it is a mere misconception and has nothing to do with reality. In fact, online money transfers to Nigeria and any country worldwide are simple and easy.
Time-consuming:- People have a grave misunderstanding about the time online transfers take. They think that online money transfers take several days to complete, and the beneficiary has to wait for a longer period after funds have been moved by the sender. But, it is a misconception as the maximum times an online transfer take is somewhere between a few minutes to a few hours or maybe a day or so at a stretch which is still far less than the time a transfer takes in old ways.
Expensive transfers:- This is a misconception about online money transfers, which does not belong here. Its right place is the old and traditional ways of transferring money. Online money transfers are extremely cheap and do not cost you much in terms of fee or service charges if you happen to send money through credible and reputable companies such as ACE.
Start-ups can handle large amounts:- Another misconception is those small companies cannot manage and transfer large sums of money. It is not true today because technological advancement has made it easier for small businesses and start-ups to handling large amounts safely and securely.
Privacy at risk:- Online money transfers are prone to fraud but thinking that the entire online money transfer business is at risk is, of course, a grave misconception. There are companies such as ACE which require little information about the sender and the beneficiary to process a transaction. It automatically reduces the chance of risking your privacy, personal information and details.
Use banks instead:- People have a misconception that money transfer to Nigeria through banks is safer. It is again a misconception because banks take between three to five business days to transfer funds and are also expensive in terms of fee and service charges.
Flat exchange rates:- People have another misconception that online money transfer companies offer flat currency exchange rates, which is not the case, of course. Different companies offer different currency exchange rates, with ACE offering the best currency exchange rates.
Technically difficult: difficult:- Another misconception people have about online money transfers is that they are technically difficult because they involve technology. But, it is not the case. Although online money transfers are tech-based, they are equally easy to process.
Risky process:- People think that online money transfers are risky, which is a misconception. These do not involve risk and are rather safe and secure, provided by credible companies such as ACE.
Time-consuming account opening:- Another misconception people have is that opening an account with an online money transfer company consumes a lot of time. People must realize that it is now only a few clicks and a few minutes to open an online account.
Customer service:- Another misconception people have about online money transfers is that they will have no one to turn to if something goes wrong. But, little do people know that some of the online money transfer companies such as ACE have customer services in a place whose efficient representatives not only answer queries but also guide you along the way.
Cheques are safe:- Another misconception is that cheques are safer than online money transfer methods, and in thinking so, they tend to forget the fatigues, sending money through cheques, entails such as timings and commuting etc.
Online is unsafe:- Another big misconception about online money transfers is that they are unsafe, which is not the case. Online money transfers are safe and secure, provided you do them with companies such as ACE.
Conclusion: From all of the above, we have realized that these misconceptions are untrue. The fact that the online money transfer industry is expanding rapidly worldwide and in Nigeria is proof that these misconceptions will soon disappear. The global majority will send money to Nigeria online.