Nigeria is a part of West Africa. People of Nigeria living abroad are looking forward to discovering new but affordable ways to send money to Nigeria. They are looking for those services that are a value-added and more accessible source to send money online.
Are Fluctuation in Money Exchange Rates Effect On Send Money Globally?
The exchange rate is not constant. It keeps on changing along with the trading trends and government policies. This factor affects the online money transfer rates. The business related to the service provider dealers makes their policies according to the current price of the currency. The exchange rate is the reflection of the ratio that shows the ratio at which one currency needs to be exchanged in place of the other currency.
A correct, or appropriate exchange rate is the most important factor in the economic growth of developed countries. A major obstacle in all the main states of the African countries, including Nigeria is the fluctuation of the currency. The exchange rate of Nigeria against the USD is approximately 306.419 in Sep 2019.
What Are the Factors That Need to Check Before Sending Money Online To Nigeria?
· Checkout the Nigerian naira market
The exchange rates are fluctuating in the mid-market, when you want to send money online. You must have an idea of how much Niras you will get after the money exchange. Many online money transfer companies allow their customers to use smart alerts to keep track of the evolution of the mid-market.
· Checkout the optimal option for your money transfer
One should go through detailed research before transferring the money online. The best company selection, like ACE Money Transfer will give the optimal solution to send money to Nigeria online.
Check out the provider who is going to fulfil all your needs according to the standards. Examine all the pros and cons before making any decision.
· Sign up and start up your transaction for Nigeria
Go for the sign-up option on the provider’s home page. Select the payment method for money transfer to Nigeria. Provide your detail information and mention the receiver identity and location.
People of Nigeria keep interested in finding out the new ways to send their money online to anywhere globally. More than 15 million Nigerians living outside Nigeria, search out the reliable and inexpensive source to send their Nairas back home.
Nigerian’s send almost around $20 billion back home each year, considering it as an average of $1,300 each. Most people overspend by up to five per cent on their transfers. By using the low-cost service provider, Nigerian’s can save up to $1 billion collectively or up to $65 every year.
You have the option to send your money by a wire transfer, bank deposits, credit cards, and cash or in some other way. Banks are not the best choice due to high charges and money exchange rates.
Thinking about sending less than $300 from a bank to Nigeria
If you want to send the money that is equivalent or less than $300 in an amount to Nigeria, you must include WorldRemit, Transferwise, Xoom or MoneyGram in option. These are the best online for sending money providers.
Money sending more than $300 to Nigeria
If you are looking to send more than $ 300 in Nairas to Nigeria, try ACE Money Transfer, MoneyGram and Xoom.
Which Banks Are Providing the Services of Online Money Transfer to Nigeria?
Banks are the best way to send money globally. People often prefer to send money to Nigeria bank account. The list of banks is here so you can find them for your transactions to Nigeria.
- Access Bank
- Diamond bank
- Eco Bank
- Keystone Bank
- Union Bank
- GT bank
What is the Estimated Remittance of Nigeria?
Nigeria is the 6th country in the world (globally) which receives the most remittance from the world. More than $21 billion every year, after India, China, Philippines, Mexico, and France. The most estimated countries that send the remittance to Nigeria are the United States ($6 billion), United Kingdom ($4 billion) and others are Italy, Ghana, Spain, Germany, and Canada.
What are the Best Solutions to Transfer Money to Nigeria?
Operators that are providing the best services to send money globally to Nigeria are:
- ABN AMRO Bank
- Crew Card
- Express Funds
- Global Link
- Guranty Trust Bank
- Monet Line UK
- Ria money transfer
- Sigue Money transfers.
- The FX Firm
- United Bank for Africa
- Unicredit Banca
- Stabic bank
How To Send Money To Nigeria Online Abroad?
Where there is a need, the potential of growing to fulfil the need automatically generates some services. Receiving money from abroad is a big hit for Nigeria. Get paid by the leading company Payoneer. Payoneer has a friendly user platform, low fee charges and multiple withdrawing options are the keys for the customers.
A Leading Company – ACE Money Transfer
Online transactions from abroad to Nigeria, ACE Money Transfer is the best trademark in the online business. ACE Money Transfer has designed its structure according to the needs of the customers. Mobile Apps are the ACE Money Transfer innovation in this digital world. By using apps, just on a single click, you can deliver all your amount while from your home or offices. The faster and having secured protocols implementation makes the ACE money transfer one of the most frequently used service providers globally.
Brokers sending money within 24 hours a day
Why brokers are the best money sending globally service. Brokers have a virtual role in the exchange rates trading GBP to NGN for more than six months. You will know in advance the maximum amount that you will have to pay for the rate.
Authorized brokers from the U.K are trustworthy, reliable and provides you virus free sites to make the transaction to Nigeria with a credit card. You can call them through your phone, this method to send money globally is implemented in many countries like Sri Lanka, India or Kenya.
Money sending all over the world is just the click of your hand. Money sending to Nigeria online is possible with all the advanced but reliable and secure company providers. You can go for any service mentioned here for your ease and make your world more fascinating with the peace of mind.