The United States of America is home to a 3 million-strong Nigerian diaspora. They have come to the states for a secure and bright future. The state of Georgia has one of the largest population of Nigerian immigrants currently residing in the US. The estimated number being 19,182 in the state of Texas alone. The diaspora sent $7.2 billion in total remittance to their loved ones in Nigeria in 2018. This is due to the increase in internet and mobile penetration in Nigeria and also due to slow growth in the country. It is now much easier to send money to Nigeria from Atlanta due to online service providers like FAZRemit. FAZRemit provides fast, safe and affordable platforms for remittances to Nigerian Banks in the African country.
How is Money wired to Nigeria?
The Nigerian Diaspora wires money to Nigeria in mainly 3 ways
Bank Authorised Transfers
Banks provide remittance services to Nigerian Americans to wire money to Nigeria from the USA. They are safe and reliable but can burn a hole in your pocket due to exchange rate fluctuations. Also, they take anywhere from 2-3 weeks to remit the money in the destination bank. They provide reliability but are slow and expensive.
International Money Transfer Operators (IMTOs)
IMTOs are fast and reliable platforms for remittances. They have offices in hundreds of places including Atlanta, Sandy Springs, and Marietta. But, the processing fees charged by them range from 8-10% of the total remitted money, which is a big loss. They may also take 2-3 days for a normal transfer and have not proved to be very reliable with security. Many of them don’t offer direct transactions to Nigerian banks.
Online Money Transfer Platforms
Online money transaction platforms like FAZRemit makes it possible to send money to Nigeria from Houston at an instant. They are replacing traditional services with their reliable and affordable service offerings. Keeping pace with technology, they are currently on the front foot.
The Choice You Should Make
Automated online money transfer platforms like FAZRemit focus to eradicate the weaknesses of these traditional methods. The weaknesses that FAZRemit focus on include
- Speed of the transaction
- Affordability of the transaction
- Reach of the transaction
- Safety and security of the remittance
Yes! FAZRemit strives to give the customer all the benefits yet none of the risks of the traditional transfer methods. Even send money from Atlanta, Sandy Springs, and Marietta directly to over 25 Nigerian bank partners.
To send money to Nigeria from Houston via FAZRemit, you just have to follow these 3 simple steps:
- Register using your e-mail ID
- Verify your e-mail and submit your KYC documents including your Passport and Address Proof
- Once the verification is complete, add a beneficiary and send up to US$2499 instantly
There are no reliability issues due to the 24/7 customer service and prompt back end services. Join the service platform of FAZRemit to make use of the new way of remitting money to Nigeria.