Sending money to Nigeria back home through a bank can be a costly and time taking task. Plus, it is not available 24/7.
Even if you choose a bank to send money home, you have to pay a certain price from fair to high. You will have to have a bank account, IBAN and BIC. Money transfer can take up to 5 days, to say the least.
In 2016 Nigerian Central Bank (NCB) decided to suspend the operations of all money transfer services in the country, was met with a backlash.
The decision was considered to disproportionally unethical. Under pressure, however, the NCB reversed the decision and granted new licenses to money transfer services.
Bank to Bank Transfer VS Send Money Online to Nigeria
Many banks can send money to Nigeria online, and all you need to do is enter your bank details and your recipient’s. ACE will transfer your money instantly.
There are many ways to transfer money online, such as banks, money transfer services, apps, etc. To name one, let’s say ACE money transfer service.
Money transfer normally refers to cashless modes of payment or payment systems such as Electronic funds transfer, an umbrella term mostly used for bank card-based payments.
Wire transfer, an international advanced bank-to-bank funds transfer. A money transfer service is a vital option, such as ACE.
You can provide money in any form you like, and you’ll get a reference number — this is the key to unlock the cash, so it needs to be given only to your recipient and no one else. ACE transactions are easy, comfortable and immediate.
ACE provides multiple reimbursement options. This is a locked and easy way to send money. For online money transfer to Nigeria, ACE money transfer provides you with an instant cash pickup and bank transfer.
They are the first choice of its intended customers and for those who wish to support less fortunate people around the world where money transfer is the only option to reach them.
Importance of Sending Money Globally
ACE Money Transfer is a renowned specialist in money transfer services globally. ACE money transfer has been providing fast and protected International Money Transfer service to beneficiaries in 94 countries.
It has a huge impact on immigrants and their families back home. They can easily transfer money via money transfer services anytime and anywhere they want.
Send money globally from the ACE mobile app. The online money transfer services help customer’s money reach their loved ones.
It does not matter wherever they are in the world. ACE offers reliable and high-quality money transfer to Nigeria. They have the lowest money transfer fee.
Recruit remittances are a major part of international capital flows, especially concerning labour-exporting countries. According to the International Organization for Migration (IOM), Nigeria witnessed a dramatic increase in remittances sent home from overseas Nigerians.