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Best Way To Send Money To Nigeria From USA

Nigeria has the largest migrant population out of all Sub-Saharan countries in Africa. The main reason for high migration rates in the country is the condition of the oil-driven economy….

Nigeria has the largest migrant population out of all Sub-Saharan countries in Africa. The main reason for high migration rates in the country is the condition of the oil-driven economy. With global oil markets fluctuating, the country’s economy feels weak, creating 87% unemployment rates. Rising living costs in the country means it is important for a household to receive remittances from their loved ones abroad. The remittance inflow of $25.08 billion last year gives hope for this year. Nigeria receives one of the highest remittance inflows in Africa. The country receives its highest remittance amounts from America.

The Nigerian migrants in the US send money to Nigeria to help their families and friends. They collectively sent $7.2 billion in 2018 through various mediums of transfers. But, with one of the highest remittance charges, they are on the lookout for sending money to Nigeria cheap way. It is important for the diaspora to save every penny they can to send more money to their loved ones. With prevalent banks and IMTOs being expensive mediums, can an online money transfer service like FAZRemit help? Is FAZRemit the best way to send money to Nigeria from USA?

Mobile money transfer concept. Banking payment apps.

How to Send Money to Nigeria from USA?

Nigerian Diaspora in the United States is one of the most educated and successful ethnic groups living in the country. The diaspora has a higher median household wage than an average American household. This is the extent of their success in education with over 27% of the diaspora having a post-graduate degree. This enables them to help their families and friends back home during times of hardship. But the diaspora still doesn’t know how to send money to Nigeria from USA in the best possible way.

Banks

Most international transactions happen with the help of banks. The oldest financial institution in the world help transfer money internationally to Nigeria from the US, with pitfalls. Customers who need to transfer money need to wait for various procedures. It takes anywhere from 5-7 days to get it deposited in their benefactor’s account in Nigeria. Banks make use of intermediary banks to transfer money to banks in Nigeria which could cause even more delays.

They charge the customers for these transactions based on foreign exchange rates. The oil-driven economy of the high-risk country does not help remitters get fair values for their transfers to Nigeria. Fluctuating foreign exchange rates means they never find one rate for transfers either. These pitfalls of the banks push some to move to IMTOs.

IMTOs

International Money Transfer Operators provide faster services than banks, but not at cheap or affordable prices. Their fast services take 1-2 days to reach Nigeria. These transfers are wire transfers. The remitter can deposit cash at an agent location of IMTOs like MoneyGram and Western Union in the US. The benefactor can collect cash from an agent location of the same IMTO in Nigeria after 2 days, even more. The need to physically collect cash from agent locations can deter certain customers with travel in Nigeria a problem.

The cost of these transactions rob the customers of any value that they might receive from these remittances. Certain IMTOs charge the customer $5 to send $50 dollars to their families and friends in Nigeria. Most IMTOs charge between 8-10% for wire transfers to Nigeria from USA. They could also have hidden fees for currency exchange services required for international transfers. This causes a double-whammy for the customers who are daylight-robbed. Moreover, they are wire transfers that need collection in cash.

These cash transfers also lack security measures to deter illicit activities and fraud. With anonymous transactions being normal, the platform is a target for scammers to scam victims of money. Most scams originating in Nigeria have one common aspect – all of them request a wire transfer using one of the IMTOs. Wire transfers done with easily duplicatable documents are untraceable once collected. So the next time a stranger asks you to send money to Nigeria Western Union kindly double-check the credentials.

 

Read: FTC charges Western Union for turning a blind eye to Illicit Money Laundering and Fraud on their platform.

Online Money Transfer Services

Online Money transfer services are gaining popularity in the country. With fast and instant transactions, they are increasing the value of emergency transactions. Platforms like FAZRemit also ensures the safety of transactions with an account to account transactions. FAZremit is best known for being the most affordable and cheapest service of the lot. People still consider these services as the secondary service rather than a primary medium.

Nigeria as a developing country has 187 million strong mobile users base. 55% of them make use of internet services in the country. The best take away is that they project the GDP of the country to grow by 1.9% in 2019 from the 0.9% growth in 2018. This is the best time to make use of online money transfer services, with swift transfers covering any emergency needs. Households and businesses will profit from the use of online mediums than any other prevalent medium.

FAZRemit and Its Services

FAZRemit aims to provide the Nigerian diaspora and their families with the most value for their remittances. FAZRemit ensures a fast, safe and affordable online money transfer service from the USA to Nigeria. It is even more accessible now with the increase in smartphone users in Nigeria. Sending money on the platform is easy with the easy-to-use user interface. We can even use it to pay bills in various countries like Nigeria, Ghana, and Kenya. Mobile wallet services can help push for a cashless economy, which has a wide range of possibilities.

 

Becoming a user on the platform is simple with a onetime-registration taking less than 5 minutes. Registering on the platform ensures safety and security. KYC documents and background checks safeguard the money and the user during transactions. Users can send up to $2499 to their benefactors account online through the platform. These transactions happen instantly. The money you send is available in the benefactor’s account in less than a minute. Transaction details are available from the user profile in the application for future reference.

FAZremit offers its fast, safe transactions at the lowest processing fee in the corridor. Users can send money to Nigeria from USA online at 1.7% processing fees. This provides the users of FAZRemit and their loved ones with the most value for their remittances. With FAZRemit, sending money to Nigeria cheap way is possible. Who said cheap and affordable does not mean safe and reliable?

Find out the best way to send money to Nigeria online yourself. Join FAZRemit to send money to Nigeria from USA at fast, safe and affordable rates. Help the ones in need in Nigeria with your valuable remittances.

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How to Send Money from USA to Nigeria for Helping a Nigerian Student

The Federal Republic of Nigeria has a large population and economy in the west of Africa. Nigeria is the third country with the youth-dominated population, after India and China. The…

The Federal Republic of Nigeria has a large population and economy in the west of Africa. Nigeria is the third country with the youth-dominated population, after India and China. The “Giant of Africa”, situated in the Gulf of Guinea in West Africa. It is a populated country and termed as a “mixed economy emerging market”. According to the World Bank, it has already reached the lower middle-income status with abundant natural resource supply, well-developed financial, legal, communications, transport sectors. Thanks to the Nigerian Stock Exchange, this is the second largest stock exchange in Africa. People move as immigrants to countries like the USA and send money from USA to Nigeria through transaction services.

Education Requirement in Nigeria

If we talk about development, the first step that we should consider is education. As per the reports by UNICEF, the Nigerian government has put pressure on the country’s resources, public services, and infrastructure. However, when it comes to a basic level of education, there is still a grave problem in Nigeria. Since people belonging from poor family backgrounds cannot afford to educate the young ones. And also, Nigeria falls under the umbrella of lower economic country. Therefore, for the development of this country, education must be the strong pillar.

Poor structures, overcrowding and lack of adequate furniture are some features of public schools. Nigeria currently has the highest number of out-of school-children in primary schooling. And the quality of education is questionable. The factors for the poor quality of education include the absence of the tutor or student and irrelevant and unresponsive curricula. Apart from this, the lack of teacher’s content knowledge and insecurities play a major role. What to do? The answer is that we need to provide them with special funding so that there can be some initial development. And that’s exactly where the USA enter the picture.

The early USA

Right after World War 2, the USA became the super-power of the world. With this, higher job opportunities flooded in. And the progression in Research and Development began. With the growth in the RnD department, the quality of education started blooming. Thus this made the USA education system the best. It is because of this education quality that parents want their kids to study in US educational boards. Thus, to achieve the same, high numbers of migrants are students. People believe that with this quality of education, they will land up in good package jobs. These jobs will raise their current standard of living.

To achieve the same quality of education, migrants from a place such as Nigeria, fly to the USA. However, it is difficult for poor students back home to receive the same quality of education. So, the process of educating the poor stays at a standstill. There is one way in which this can happen — the solution zeros to funding. With the help of adequate funding, this can be achieved. But how to send money from USA to Nigeria?

Methods to Send Money from USA to Nigeria?

Remittance is one method wherein funds sent by the migrants can be deployed for social causes, such as education. Coming back to our question, how to send money from USA to Nigeria.

The service providers:

Here is a list of service providers along with their rate that will help you to choose as per your convenience:-

  • Ria Money Transfer: – It is believed to be slow (takes 3-5 days) as compared to its other competitors. To send 1$ from the USA to Nigeria, their fees are 10$, and its foreign exchange conversion rate is 2$. This sums up to 12$ on every 1$ transfer. For faster services of the same, to send 1$ from the USA to Nigeria, their fees is 28$, and its foreign exchange conversion rate is 2$. This sums up to 30$ on every 1$ transfer.
  • Money Gram: – Probably the fastest in this group (within a few minutes). To send 1$ from the USA to Nigeria, their fees are 16$, and its foreign exchange conversion rate is 6$. This sums up to 22$ on every 1$ transfer.
  • Easy exchange: – Expected delivery is assumed to be five days. To send 1$ from the USA to Nigeria, their fees is 10$, and its foreign exchange conversion rate is 2$. This sums up to 12$ on every 1$ transfer.
  • World Remit: – Delivery time is 1-3 days. To send 1$ from the USA to Nigeria, their fees is 6$, and its foreign exchange conversion rate is 22$. This sums up to 28$ on every 1$ transfer.
  • Western Union: – Expected delivery time is four days. To send 1$ from the USA to Nigeria, their fees are 12$, and its foreign exchange conversion rate is 21$. This sums up to 33$ on every 1$ transfer. For faster service, to send 1$ from the USA to Nigeria, their fees is 41$, and its foreign exchange conversion rate is 28$. This sums up to 69$ on every 1$ transfer.
  • Wire transfer: – Delivery time is 3-5 days. To send 1$ from the USA to Nigeria, their fees are 25-40$, and its foreign exchange conversion rate is 10-20$. This sums up to 35-60$ on every 1$ transfer.
  • Xpress Money: – Expected delivery time is 3-5 days. To send 1$ from the USA to Nigeria, their fees is 30$, and its foreign exchange conversion rate is 37$. This sums up to 67$ on every 1$ transfer.
  • Transfast: – Expected delivery time is 3-5 days. To send 1$ from the USA to Nigeria, their fees is 0$, and its foreign exchange conversion rate is 74$. This sums up to 74$ on every 1$ transfer. For faster service (within 24 hours), to send 1$ from the USA to Nigeria, their fees is 5$, and its foreign exchange conversion rate is 97$. This sums up to 102$ on every 1$ transfer.

Even though these MTO’s offer some of the best services in money transfer, FAZremit has exceeded them all with its service and quality. This online money transfer service has the lowest processing fee (that never exceeds 2%) in the wire transfer market. And for this very reason, it is the fastest and cheapest money transfer service in the world.

This gives us clarity about how to perform money transfer to USA from Nigeria. Though the migrants from here send money for social development, more funding is possible. If big companies consider Nigeria, there is manpower available here. The companies can set-up their plants here and can get cheap labor. With this, the land here can progress and thus help the education structure here. Therefore, this reason can be treated as a potential point for how to send money from the USA to Nigeria.

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How Can One Send Money to Nigeria from USA Instantly in 2019?

AsWhile habituating to our day-to-day activities, we even forget at what point our lifestyle has changed. One such question is to find the origin of online wire transfer. We can’t…

AsWhile habituating to our day-to-day activities, we even forget at what point our lifestyle has changed. One such question is to find the origin of online wire transfer. We can’t figure it out exactly when we changed to it. It just happened! Earlier it used to take days to transfer money. But now it is not even taking seconds to send money to Nigeria from USA.

The Movement Towards Online Money Transfers

It is said that every 15 years there will be a complete change in the lifestyle. From the time money has been part of people, banks and financial institutions existed. It used to take several weeks to transfer money, especially when international money transfers are concerned. But globalization gave birth to immigration and industrialization impacted technical infrastructure. In the finance sector, this change gave birth to wire transfers.

In the earlier days, if one of the family members moved to USA for living and needs to send money to Nigeria from USA, they preferred sending them through friends or through the banks. This delayed financial aid. And it had dire implications whenever there was an urgent need for it.

But now online money transfers have made our life simpler and easier. Wherever you are in the world, whatever device you may have, be it a mobile, laptop or a desktop, you can easily transfer money with no complications.

When we consider USA, there are immigrants from Nigeria, Ghana, Kenya, and all over the globe who moved to the states in search of a better standard of life. Now, these immigrants send money to their homeland and the term – Remittances – was coined.

Remittance Trends of Nigeria

According to the World Bank Migration and Development, Remittances to low and middle-income countries reached a high record as of 2018. As compared to 2017, there was an exponential increase of 9.6 percent in 2018. In 2019, low and middle-income countries are expecting a remittance flow that is estimated to reach $550 billion. Furthermore, remittances to sub-Saharan African nations raised almost 10% of the total remittance as of 2018. Among the entire sub-Saharan African countries, the money transfer to Nigeria from USA is $45 billion as the records of 2018.

If you need to send money to Nigeria from USA, it costs you around an average of 6.94 percent of the amount sent. The IMTO index tracks the prices of various IMTO’s and gave the conclusion that in 2018 the price came down to 3% from its first recorded value of 10.36% in 2009. And because of FAZRemit, this number has dropped further down to just 2%.

The Money Transfer Industry

In the business of money transfer to Nigeria from USA, International Money Transfer Operators gave a tough competition to the absurd transaction rates of banks. And now online money transfer services are fighting for clear domination in this space.

To keep a track of remittance payment worldwide is a little difficult task because many countries do not maintain a track of funds sent or received. We can easily blame it on the underdeveloped technical and financial infrastructure. And even though countries like Nigeria have been trying to improve it, they have a long journey ahead.

Furthermore, circulation of the informal economy because of cash transactions is another hurdle for the government. We can call it the aftermath of the failure to implement effective government policies. But now it has started to become a reason for it as well since the financial regulators and government are unable to track the money flow. Therefore, we can infer that the total remittances received by Nigerians are much more than $25 billion.

Alternatives for money transfer to Nigeria from USA

For an immigrant on whom his or her friends and/or family members are relying on, sending money at the right time is of utmost importance. And along with that, while sending money to someone in need should not burn a hole in your pocket. So, it is important that we know all the options to send money to Nigeria from USA.

Let us consider an example, say, there’s a Nigerian immigrant in the United States of America. If he wants to send funds to Nigeria, the first alternative is – Banks. But money transfer to a Nigerian bank account directly through banks may take 3 to 4 working days or sometimes even a week. Furthermore, they have the highest transaction processing charges.

The next method which most people trusted to send money to Nigeria from USA is – International Money Transfer Operators. They have licensed money transfer agents. They work similar to the bank but are faster and have lower transaction cost. So, it could be one’s option but what if there’s something better available?

How Money transfer to Nigeria from USA can be Instant?

FAZRemit ensures that any customer wiring money to Nigeria gets the fastest service at the most affordable cost. Strongly abiding by the KYC/AML laws, FAZRemit facilitates proper KYC verification. This ensures that every single transaction goes from one verified customer in the United States to another verified individual in Nigeria, Ghana or Kenya.

It’s not difficult to money transfer to Nigeria from USA in 2019. The only differentiating factor is – Which one is better for you. In case you feel that FAZRemit is not for you, the platform also welcomes feedback from all the customers. Moreover, they send a Thank You note to everyone for sending them feedback. At the same time, there are additional discounts for highly constructive feedback. 

In 2019, use the internet responsibly. Do proper research before availing any services, and to send money to Nigeria from USA, register on FAZRemit today!

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Why Do You Need KYC Documents To Send Money to Nigeria from USA?

Know your Customer, a.k.a KYC, documents demanded by FAZRemit includes two types of documents: 1.  Customer Identification Document: a. Driving Licence, b. Passport, and c. State-issued identity card. 2. Document…

Know your Customer, a.k.a KYC, documents demanded by FAZRemit includes two types of documents:

1.  Customer Identification Document:

a. Driving Licence,

b. Passport, and

c. State-issued identity card.

2. Document for Address Proof:

a. Gas bill,

b. Credit card statement,

c. Bank statement,

d. Electricity bill, and

e. Water bill.

As soon as a user uploads these KYC documents on his or her dashboard, our document verification process initiates. We strongly recommend that:

1. The scanned or downloaded documents must have clearly visible Name, Address, and Date of issue. When it comes to utility bills, one must provide the latest documents, preferably a recent proof less than 90 days.

2. The document should be clear and whole, i.e. it must not have any cut or hidden or blurred information therein.

3. Online banking documents and bills must be downloaded or scanned and then sent to FAZRemit as a file attachment. Screenshots are not accepted.

Importance of KYC Documents?

While providing financial services, it is the responsibility of the organization to maintain a legitimate environment.

In the financial community, during the initial stages, non-bank organizations didn’t care about the details of the customers. It was his or her responsibility to fill the correct information. There were multiple drawbacks of this system:

1. Incorrect details sometimes lead to funds getting transferred to wrong destinations.

2. Money launderers could send and receive money from multiple accounts.

There was no regulation that could keep a check on such transactions. Moreover, non-bank financial institutions could do as they please. However, with AML/CFT laws and mandatory KYC documents’ submission, the situation has changed drastically. There has been a significant difference in the number of illegitimate transactions globally.

So, How Does KYC Document Verification Works?

For instance, there is a customer who wants to send money from USA to Nigeria, Ghana or Kenya. After completing the registration, he or she would be redirected to a personal dashboard. Once all the documents are submitted as mentioned, they undergo verification.

During document verification, we ensure that:

1. The person sending the documents is exactly who he or she is claiming to be.

2. There are no previous records or allegations on the concerned individual regarding money laundering. We ensure that the person does not fall in the PEPs (Politically Exposed Persons) category.

3. When it comes to organizations, FAZRemit runs a thorough check on the concerned company. All the beneficiaries are thoroughly scrutinized.

Once the evaluation is complete, and only if all the details are acceptable, then our Money Laundering Reporting Officer (MLRO) can permit the person to make any transactions.

At FAZRemit,

We keep the record of every single transaction.

To ensure that the funds reach to the right person, the beneficiary is also verified. Once the corridor is verified, customers can make unlimited transactions using FAZRemit.

Taking our legal obligations extremely seriously and without compromising with the civic morality, FAZRemit assures every customer that every single transaction on the platform is 100% safe. Every member of the FAZRemit community is a verified customer because we actually ‘know our customers’.

We completely understand that submitting KYC documents and waiting for its verification could seem like a long time. However, if the documents are clear and fulfill all the criteria as mentioned at the beginning of this blog, our automated software analyzes and concludes the verification process within a few minutes.

Regulated as Money Transmitter by the New York State Department of Financial Services, FAZRemit strives to provide its customer the safest, most convenient, and affordable money transfer services.

So, to experience an unparalleled online platform to send money to Nigeria, Ghana or Kenya from USA, register on FAZRemit today. In case you have any query, you can always write to us at support@fazremit.com.

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You Must Know These Points Before Sending Money to Nigeria from USA

Is this a scam? How much do you charge? Why is the Document Verification taking so long? Can I be sure that my funds will reach the correct recipient? Why…

Is this a scam?
How much do you charge?
Why is the Document Verification taking so long?
Can I be sure that my funds will reach the correct recipient?
Why is it taking this long to process the transaction?
When can I get a response to my queries?

Before sending money to Nigeria from USA, a majority of customers are skeptical about money transfer services. Moreover, this is worth it considering that there are hundreds of Ponzi schemes and platforms online. Awareness about the subject could mean the difference between making the right choice or getting scammed. Discovering new offers, benefits and services can get you the best deals and everyone would recommend it. However, scammers are also looking for such targets. This does not mean that you should drop the idea of exploring completely.

Which is the best alternative to transfer money to Nigeria online?

Instead of this, a better question would be – ‘Which is the best online money transfer service for you?’ because the answer to that depends on multiple factors. There are several platforms and IMTOs who would provide their service at a cheaper cost while others may have faster transaction processing time. Some may claim to have the best security protocol whereas others may claim convenience as their USP.

So, the question is – What do you want?

what-do-you-want-sending-money-to-nigeria-online-fazremit

Let us discuss all the problems you may come across while searching for a reliable platform to transfer money to a Nigerian bank account from the United States of America.

Is the Operator Hiding Anything?

The credibility of online money transfer platforms has undoubtedly been compromised publicly because of the widespread active network of scammers seeking opportunities to lure in people. According to Washington State’s Attorney General, US citizens lose millions each year to wire transfer scams. So, examine the operator, its claims, cross-verify, and then avail the services with precaution.

Another prevalent method of making immoral profits in the money transfer industry is – Hidden Charges. In this case, companies or online platforms do not reveal a complete payment breakdown. Once a transaction is made, a significant amount gets deducted from the ill-informed customer.

Here’s something to ‘enlighten’ you about this topic…

enlightening-words-sending-money-to-nigeria-online-fazremit

While sending money to Nigeria from USA, or making an international transaction, exchange fee and transaction fee are always levied. So, make sure you are well aware of the total breakdown of the total transaction charges beforehand.
One of the recommended ways to examine a promising platform is to make a minimum transaction instead of directly going with the big numbers because of the offer you are getting. Just don’t get manipulated. Give the platform a try by taking a calculated risk. On the basis of your experience, judge whether you want to continue with it.

Is the Response Appropriate?

Almost every single money transfer platform claims ”fastest transaction”. Others would do it at the cheapest fee.
So, compare a few platforms, read about the experience of those who have availed the services. There is no point in sending money if it does not get to the right person at the right time, especially in emergency situations. Same can be said about paying absurdly high transaction costs. As per your personal preference, you need to strike a proper balance between both options.

Going a step forward, what matters more than this is the response time by the operator. Due to unforeseen technical problems, at times there could be delays in the process, however, it’s the responsibility of the service provider to address the query without any delay.

customer-chat-response-sending-money-to-nigeria-online-fazremit

Good customer support is a major parameter to determine reliability. In case you put across your query and the service provider doesn’t respond or takes a lifetime to satisfy the customer, consider this a red flag.

How Does the Platform Ensures Security?

When it comes to financial services, security is a must. To ensure that the funds you transfer reach to the correct bank account(s) and that not a single step violates any AML/CFT regulations, a responsible money transfer service provider must have proper documentation protocol.

documentation-sending-money-to-nigeria-online-fazremit

The money transfer operator must ask for KYC documents from you. Also, the company must verify details of the beneficiary or recipient’s bank account.
This system not only secures a user’s hard-earned money but also ensures that the platform has strict guidelines against unlawful exercises.

How Serious Are They About Accountability?

Having a personal dashboard certainly makes the money transfer experience extremely convenient. But at the same time, you must have a recorded transaction statement from the service provider as your personal copy.
There have been multiple instances in the remittance market that while wiring money to Nigeria from USA, the money gets deducted from the user’s account but does not reach its required destination. Therefore, it is important that you keep a copy of the transaction until the funds are completely processed.
You can use that receipt to put up a strong case for your refund. And if the platform does not, you can easily get your funds through the legal channel.

Therefore, it is important that you look for a service provider that respects and encourages customer empowerment.

FAZRemit, the one-stop online money transfer platform, ensures that anyone and everyone sending money from USA to Nigeria, Ghana or Kenya, gets the best overall experience.

 

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How to Stay Safe From Online Dating Scams?

Among all the identified scams in the United States, that range right from zero loss to about $2,000,000, as per Better Business Bureau, in 2018, 160 online dating scams were…

Among all the identified scams in the United States, that range right from zero loss to about $2,000,000, as per Better Business Bureau, in 2018, 160 online dating scams were reported. Further, 3 scams were worth more than $100,000 and 12 other individuals lost their hard-earned money in the range of $20,000 to $70,000. Maximum cases were registered in Philadelphia, followed by Florida, Virginia, and Houston.

Effects of Dating Scams

As per Scamwatch’s 349 people lost a total of $1,245,423 in 2018 in which almost 57% of the victims were women. When it comes to using popular dating sites, it is generally considered reliable by most of the users, however, lack of KYC by such service providers often allows, if not encourages, scammers to exploit the victims sexually and/or financially.

In most cases, the scammer portrays himself/herself as a fairly rich person and convinces the victim to transfer money by gaining sympathy. To achieve that, the scammer invests a fairly long time to lure a victim into an emotional trap and/or gain trust and then construct gullible and reasonable cases, for instance, hospital bills, or travel expenses to ask for money. As soon as the money is transferred, which generally are international wire transfers, the fraudster goes ghost.

The finesse of professional scammers makes it impossible for a victim to separate the truth from a false story. But how can you differentiate between reality and deception? Well, there is no clear black and white when it comes to defining the amount of trust that can ensure that the person you believe is right. Isn’t that what trust actually means? However, you need to make sure that you understand the gray area involved in any relationship and how to do the best from your end to avoid losing your money to a fraud.

Types of Online Dating Scams

There are basically 4 types of romantic scams prevailing in the United States and across the globe.

1. Blackmail

A scammer may take inappropriate or personal information from your online portfolio and ask you to either perform sexual acts on webcam and then blackmail you to extort money. In romantic scams, the person may record intimate moments and then threaten to share it with your friends or family.

No matter how dire the situation is, negotiating with a scammer has never gone down well with anyone because once you agree to the demands, you are simply opting to go down the rabbit hole as the blackmailer would never stop. So, it is important that you do not comply with any of the demands of such scammers and before the situation goes out of your hands; it is best that you confront your closed ones.

2. 419 scams

Often known as ‘Nigerian 419 scams’ or ‘Nigerian prince scams’ because of its point of origin, in this scam, the scammer may ask you to move a certain amount of money promising to give you a decent portion as a commission for an assignment. Supported by an often sad story, the scammer would ask you to deposit a certain amount as a ‘fee’ to move the payment and this is where they have played their game. This is why they are also known as ‘advance-fee scams’.

get-rich-quick-online-dating-scams-fazremit

Even though money laundering is a criminal offense in itself, still, this get-rich-quick scheme entices several people to take part in this process. So, to win your confidence, if need be, one may even play with your emotions by taking you into confidence and then asking you to do immoral or in some cases, illegal activities which is yet another spun version of online dating scams.

Such traps could even lead one to take his or her own life, as was reported in 2007 when a Chinese student from the University of Nottingham committed suicide after realizing that she had fallen for such a scam. The same was reported from Cambridgeshire where a UK citizen burned himself after discovering that the lottery-win of $1.2 million was a scam.

3. Impersonation

This type of scam is generally reported by military personnel whose information is put online by the government without any prior notice. By digging personal information of such personnel, online fraudsters, especially operating from Ghana and Nigeria give them an option to wire money to their family members using some well-known but unsafe platforms which do not require any identification of the receiver or beneficiary. Using honey-traps and persuasion, scammers either get their hands on the account details of the victim or convince him to transfer money to their accomplices who could be present anywhere in the world.

How to Identify an Online Dating Scammer?

Other than understanding the different scenarios that fraudsters usually opt for, recognizing the scammer and his or her behavior is equally important to avoid becoming a victim of online dating scams:

1. Is the online dating website Reliable?

Because of the emerging trend of online dating in the 21st century, scammers have even been reported to invest their time and money in developing random websites to lure in the customers. Apart from simply using a third party reliable dating websites such as Match 221, PlentyOfFish, OkCupid, mobile applications like Tinder, Grinder, or social media platforms including Facebook, Twitter, Instagram et cetera, some are even hosting an entire platform to conduct such malicious activities.

scam-websites-online-dating-scams-scammer-fazremit

To avoid getting scammed through the latter tactics, it is important that you only sign up on reliable platforms. Furthermore, in case there is any dispute or any report of an online scam, as long as you are keeping the conversation on a specific platform, till then, it is the responsibility of the platform itself to ensure that all the registered users get a quality service. Therefore, it is highly recommended to avoid switching the conversation to email or phone number without knowing the next person fairly. An inability to do the same could give away your personal information which is a high-risk endeavor.

2. Avoid a Scammer in the First Place

Before initiating any conversation or making any commitments, it is important that you conduct a thorough background check on the person you are approaching for or the ones who are trying to contact you. If there are irregularities in his or her profile details or if anything seems too good to be true, you have the option to confront them and ask the concerned person directly but if you are still not satisfied with the response, consider it a red flag and simply avoid such scenarios.

To verify that the person is exactly who he or she is saying, you can also search his or her image on search engines and check for any duplicates. This would help you to comprehend whether the person is an imposter searching for potential preys unaware of online dating scams or a real and genuine individual.

To be on the safer side, it is also important to keep yourself safe from even the reach of potential fraudsters. So, you must always keep your profile settings as ‘private’ and do not give away any personal information on any public network. As mentioned in the previous section, just refrain from presenting any such information that scammers can use as leverage over you to blackmail.

3. Know When You Should Reject!

As soon as you take a positive step towards embracing your fondness with a person you met online, make sure that you ask him or her about the social life, political affiliations, hobbies, achievements et cetera. You do not have to make it a professional interview but it is important that you know who you are talking to in a better manner.

One of the rookie mistakes committed by fraudsters is that they tend to commit mistakes while having any conversation which includes mixing pronouns, using wrong grammar or punctuation. In case there are is any inconsistency in the storyline or description or the way he or she is responding to you, avoid such individuals. Distance yourself from people with strange or inappropriate behavior.

4. Call the Person

If you are satisfied with the conversations you had on text, then the next step must be to ask for a voice or video chat. An outright refusal to do so is an indication of something shady.

Before meeting the individual in person, never share your personal details, especially your financial details. If the other person is encouraging you, you must never undermine this gesture. Further, without knowing the other person in-and-out, never commit to taking any responsibilities as it may backfire on you, and cause you not just financial but also personal and even professional difficulties.

What to do if you spot a scam?

It is highly recommended that you do not rush into any wire transfer without knowing the beneficiary but if it is too late and you have already sent money to someone who you think could be a scammer, the first thing you need to do is – contact your bank and the money transfer service.

online-dating-scams-fazremit

Although the scammers are always waiting for the money to be transferred and they generally withdraw the money instantly, if you send money through a safe channel, first of all, your hard-earned money and the scammer can both be tracked down.

Whether you have been scammed or if you have enough evidence to prove that an individual is trying to scam you, it is best that you report the same to the concerned platform as well as to the Federal Trade Commission and FBI’s Internet Crime Complaint Center.

This Valentine’s Day, make sure that you be with the one who you trust not the one who would leave you astray. One would be considered rather over-optimistic to think that only a selective people on online dating sites get scammed but the truth of the matter is anyone can fall into this trap. And if not given proper attention, it could even lead to far worse situations. So, it is your own responsibility to save yourself and people around you from falling prey to-

Online dating scams!

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Cheapest Way to Send Money from US to Nigeria, Ghana, Kenya

Check out the cheapest rate list for users to Send money to Nigeria, Kenya and Ghana from USA.

While there are multiple IMTOs claiming to provide the most affordable way to send money from US to Nigeria, Ghana or Kenya, FAZRemit makes sure that you apply for the best.

As soon as you register on FAZRemit, you are enrolling yourself with the most transparent, secure and convenient online money transfer platform to wire money to Nigeria, Ghana or Kenya at guaranteed cheapest rates. Apart from being a platform that is an amalgamation of the best ideas hand-picked from all the leading IMTOs, we ensure that whatever application you send your remittances for, you and your added beneficiary can take the full benefit of it in the least amount of waiting time.

Apart from knowing the banks that we support in Nigeria, Ghana, and Kenya, it is crucial for a user to know the exact rates at which his or her money will be wired to the aforementioned countries. Addressing that problem, the following are the nation-specific money transfer rates provided by FAZRemit.

Cheapest Rates to Send Money to Ghana

Amount ServiceFee
Up to $499.99Money Transfer
$8.99
$500 to $999.99Money Transfer$11.99
$1000 to $2499.99Money Transfer2%

Cheapest Rates to Send Money to Nigeria

AmountServiceFee
AllBill Payment$3 Flat fee
Up to $499.99Money Transfer$8.99
$500 to $999.99Money Transfer$11.99
$1000 to $2499.99Money Transfer2%

Cheapest Rates to Send Money to Kenya

AmountServiceFee
Up to $499.99Money Transfer$8.99
$500 to $999.99Money Transfer$11.99
$1000 to $2499.99Money Transfer2%

Register Today at FAZRemit!

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