Nigeria, an under-developed state of Africa, is notably involved in international remittances. Due to a high poverty rate and low employment opportunities, a massive population of Nigeria has moved temporarily or permanently, to other states with stronger currencies such as the USA. These migrants have to send money to Nigeria, quite frequently.
Money Transfer Platforms play a significant role in every physical or online money transfer. If you have to send money, here are a few tips that can help you to send money online, by choosing the most suitable provider.
1. Why You Must Always Cross-Check the Money Exchange Rates?
Most of the people get quotes from their providers and don’t cross-check the provided rates with the independent rates, that are implemented at that moment. It is always suggested to calculate the hidden fee of every transfer. There can be several methods to do so. First is to calculate the hidden fee. Second is to get quotes from multiple companies, and then choose the one which seems most feasible.
Banks usually charge higher exchange rates and service charges. On the other hand, efficient companies such as ACE Money Transfer can help you in getting the optimized exchange rates, while doing money transfer to Nigeria.
2. How to Check the Transfer Time?
For wire transfer, usually, 1–2 business days are required. Online transfers, on the other hand, can be done within some seconds. ACH Transfers may take 3–4 business days. Thereby, if you have to send money on an immediate basis, then check if your provider can do urgent transfers or not? It will help you in sending the right amount, at the right time.
3. Is Customers Feedback Important in Money Transfer Services?
A satisfied customer is the best marketing tool. There can be no method better than checking customers feedback for validating the efficiency of any money transfer company. Always make sure to check what previous customers are saying about the services of any specific provider. If any of your friends or loved ones have used a money transfer platform, then asking them for recommendations can be equally beneficial.
4. What is the Importance of Payout Locations?
If your chosen provider has only one type of payout locations available for the customers, then it’s better to switch that. Having more options, facilitate both senders along with the receivers. For online money transfer to Nigeria, try to gain maximum benefits by checking the options by asking these questions:
- Is the provider offering online transfer?
- Can I receive the payment from a bank?
- Do they have wire and ACH transfer facilities?
If someone has to send money occasionally or very rarely, then a money transfer company may not have immense importance for them. But if someone has to send money to Nigeria online on a weekly or monthly basis, then choosing your provider efficiently can save you bucks and your valuable time. Many efficient companies are offering trusted and reliable services to their customers. A comparison can help you to choose the best company, according to your needs and requirements.