Nigeria the largest number of immigrants from African nations in the United States. They boast of having hugely successful education rates and high household incomes. Dallas is a modern metropolitan area in Texas, US which houses close to 60,173 Nigerian Americans. The remittances from the United States amounted to $7.2 billion in the year of 2018. The immigrants send money to Nigeria from Dallas, Fort Worth and Arlington as remittance to support their families. These remittances have helped the Nigerian economy to grow leaps and bounds. The options they have for remittance is limited yet there is a winner.
Banks offer a safe and reliable platform to transfer money to Nigeria for the diaspora. These transactions have variable processing fees due to fluctuating foreign exchange rates. The fees may be a hindrance due to the fluctuating foreign exchange rates. They also take up to 2-3 weeks to remit the money to Nigerian banks across the continent. This late remittance may be a huge roadblock for the immediate needs of the users.
International Money Transfer Operators(IMTOs) provide a faster remittance corridor but charge a premium as processing fees. The 2-3 day service would cost a Nigerian American 8-10% of the total amount to send money to Nigeria from Dallas, USA. They also remit money to their branches rather than to the Nigerian banks causing further discomfort for the end benefactor. Their reliability is also in question due to the means of the services and the volume of transactions handled by them.
The new banking laws in Nigeria has created a void for hassle-free remittance services. Automated online service platforms give the diaspora a better means for their needs.
Automated Online Money Transfer Platforms
Automated online platforms like FAZRemit provide better, safer, faster and affordable services to send money to Nigeria from Dallas. By creating an online corridor, they attain secure and fast cross border remittance transactions at the lowest fees.
FAZRemit makes use of the technological growth Nigeria is undergoing for remitting money to end users directly. FAZRemit does end-to-end transfers taking into account the needs of the customers. With more than 87% owning a smartphone and 56% having access to the internet in Nigeria, this is a better solution.
FAZRemit and Its Advantages
Registering onto the platform allows users to instantly send up to $2499 to their loved ones in Nigeria. The remittance takes place instantly into the Nigerian bank accounts of the benefactors. Documentations submitted during the registration are reviewed for the safety of its customers. This enables secure transactions and safeguards the customer’s money. All these transactions can be instantly remitted at low processing fees.
FAZRemit users can send money to Nigeria from Dallas, Arlington, and Fort Worth at the click of a button. 24/7 customer service enables prompt support and creates a user-friendly experience for the customers. All the details are directly accessible to the customer, enabling swift decisions to be made based on them.
The control of the remittances lies with the customer whereas the platform provides speed, safety, and security. Join FAZRemit today to avail these services at no cost.