The exchange rates fluctuate quite often. Many Nigerians who have to send money to Nigeria, face a lot of problems due to these time of crisis. According to an estimate, almost 689$ billion is sent by migrants in 2018 worldwide, out of which 584$ billion were sent to underdeveloped or developing countries. From these figures, we can easily notice that due to devalued currencies, a huge population is compelled to work in other countries so that they can take care of their families, loved ones or living styles.
In the time of crisis of any country, its currency gets devalued and its expats have to pay additional bucks solely for transferring payments. The people, who are working day and nights in abroad countries, face severe consequences due to such situations and it may lead to a multitude of complications in their payment cycle.
Not only the migrants but also their families residing in home countries, which are dependent on international income for bearing 60–70% of their household chores, get negatively affected by these crises. While, only the Governments can help in making their countries stronger and stable, there are a few things that may help migrants in sending money internationally, without any extra effort.
Should You Wait for The Right Time to Send Money?
If the currency exchange rates undergo a rapid change, due to whatever reason, then try to wait for some time. In the stock market, there are many chances of neutralization of suddenly increased or decreased currency exchange rates. Hence, if you are not in a state of emergency, then try to wait for some time to save your money tactically.
For Instance, if you want to send money to Nigeria online and due to some reasons its currency fell down rapidly, then it’ll be a better option to wait for some days or weeks before you send money online. As Nigeria is also a developing country, thereby its currency exchange rates are unstable in the market.
Can You Send Money Online, But Do Not Pay Any Extra Charges?
In the situations of crisis, you will be already paying more then what you actually have to. Therefore, keep a sharp look on every hidden/exposed fee that is being deducted by your IMT provider. Many banks and International Money Transfer Companies charge additionally from their customers in the disguise of markups. For avoiding these complications, check the detailed fee policies prior to money transfer to Nigeria.
How to Use A Trusted Internet Money Transfer Provider?
Money Transfer platforms have a direct influence on your payments. A trusted company such as Ace Money Transfers can facilitate your transfers by providing credible services, optimized exchange rates and immediate transfers. Many companies also give special offers to their regular customers such as free transfers or zero exchange rates. If you use these providers, they may provide you with a relatively lower exchange rate or they can also compensate you by providing deducted service charges. Their policies are flexible, thereby you can modify them according to your own requirements.
Money transfer is important to countries like Nigeria, where the exchange rate is high. Though not so difficult with the help of ACE Money Transfer where you can send money to Nigeria while saving as much as possible from fees and exchange rates.
People with minimum knowledge concerning sending money online often prefer banks for this purpose. Though banks also serve in this matter along with their other many services but their charge greater since the recipient country here is Nigeria with exotic currency.
Comparing to banks in the sending of money online, the service providers have proved preferable with their easy ways and fewer charges. Some also send money globally in different homes for helping people. The main reason for the preference of service providers over banks is that the international banks do not provide the option of changing dollars or other currency to Nigerian currency. The money is simply sent in dollars to the Nigerian bank where it is converted with high rates.
What are Some of the Diverse Ways to Send Money Online to Nigeria?
Money transfer through Banks
While banks are not the very desirable source to send money online, having all the problems mentioned above, still it is a source. For people having less knowledge of the service providers and are not accustomed to the internet to search through, this source is the only option, and it works with less chance of risk.
The work is simple here; the money is to be transferred from a country like UK to any other country easily.
Online Money Transfer Facility Benefactors
Apart from banks, some companies provide the service of transferring money to other countries. Though the money is not sent from the bank in the foreign country, it is received by the bank of the recipient country.
By this method, funds are being sent in majority cases. The sending of money online in this way is made possible by companies.
Money Transfer Service Workers by Cash Pickups
Compared to the above option, this method is incompletely the same in the sense that the sending of money online does not take place in a bank. Different service providers save people from all the stiffness and legality from the bank ways and allow the people to pick the cash up from the agents at some locations already specified.
Money Transfer Through Cheques to Nigeria
Checks are another source of securely sending money online along with other means, but it is time-consuming and not a preferable choice considering other options.
Emergency Transfer of Money Online
Sending money to Nigeria is often a routine work for people having their relatives or loved ones in that country. The process is carried out within the known duration of time. But sometimes there arises an emergency, and you can transfer money to Nigeria as an urgent task.
For such cases, the people are not out of luck, fortunately. The service providers like Money Gram and Western Union are there to help. But for such urgency, there is a price, as the process becomes costly. The fees are higher in emergency cases as compares to the regular ones. Also, the exchange rates fall.
The receiver, through this way, could not get as much money as he requires given the fact that the money is sent in such short notice. So for online money transfer to Nigeria online or even other countries, a notice of at least one day is desirable.
Transfer Money by Online Means to Nigeria
Although for transferring money to Nigeria there is a common method of money allocation like through post etc. Still, it is in existence which is used by a public who doesn’t trust the online devices or who don’t have the understanding or consciousness about this provision. There is a slight possibility of money vanished through hacking, but the risk is low compared to the traditional way. Then there arise the further benefits, which include the low price or free transfer of money.
ACE Money Transfer is a well-known brand known for its services in various ways of sending online money to almost any area. They are providing their services to about 100 countries throughout the world. It is efficient in sending money online with reliable ways that are steadfast, and the rates are so very reasonable.
ACE Money Transfer is stress-free to use. The process is effort-free while you may also get the guidance by its workers who work diligently and are appreciable.