Boston, Cambridge, and Quincy make up the important trio of cities in Massachusetts, USA. Boston is the largest city in the state and with the state being the third most populous in the USA.
African Americans settled in these cities due to their historic value and the educational institutions in Cambridge. The State of Massachusetts is home to the 9th largest Nigerian diaspora in the US. The charm of education and peaceful society to live to attract many Nigerian Americans to settle here. This has also increased the number of remittances sent from these cities. Nigerian Americans send money to Nigeria banks from Boston, Cambridge, and Quincy through the mainstream platforms. But is it time for them to make use of another platform like FAZRemit?
Contemporary Platforms and Services
Banks are the first and foremost platform to help African Americans send money to their respective countries. They assure safe and reliable transactions from account to account. But this requires the benefactor having a bank account in Nigeria. With less than half the population in Nigeria having bank accounts, this has become a stumbling block in recent times. The processing fees charged by banks are directly related to that day’s foreign exchange. This leads to fluctuating processing fees for the same transaction at different times. But the 2-3 week window required by banks to remit money is the main hindrance.
The International Money Transfer Operators(IMTOs) make use of branch-to-branch transactions to make faster remittances into Nigerian banks. This too, however, has a catch as in, they charge a premium for such transactions. A processing fee of 8-10% is normal in these instances, which is a huge loss for the diaspora. They also take 2-3 days in order to remit the money which is still slow at this age and time. The remittances also take place into the branches in Nigeria rather than the bank accounts of the benefactors.
The new online money transfer platforms like FAZRemit manages to circumvent all these disadvantages with the use of technology. FAZRemit helps the customer to send money to Nigeria from the US with ease. There is an increase in internet usage in Nigeria with 56% currently having access to it. It is only going to grow in the coming years with cheaper smartphones and even cheaper telecommunications. Thus, FAZRemit is able to provide its customers safe, fast online transactions to Nigeria from the US at affordable rates.
FAZRemit And its Services
Registering with FAZRemit permits the customer to send money to Nigeria from Boston at the click of a button. FAZRemit is one of the leading platforms for online money transfer in the US. They provide instant money transfers into the benefactors account from the customer’s account. Documentation is verified at the registration phase which assures no illicit transfers take place. The customers’ safety and their money is safeguarded at the highest level. The processing fees charged by FAZRemit is as low as 1.7%. This provides the customer value for these services. Remittances are also instant and can be tracked at every stage of the process.
The online presence of FAZRemit and the partnerships with Nigerian banks make it easy to send money from Boston, Cambridge or even Quincy.
Join FAZRemit today to avail these services for yourself and your loved ones.