California is the most populous state in the country of United States. With 39.6 million residents in the state, more than 10% of them are from Africa. The Nigerian diaspora in the state of California is spread across Los Angeles and San Francisco. Nigeria is the country with the largest population in Sub-Saharan Africa and has the highest remittance inflows in the continent. The advent of the internet revolution in Nigeria has increased the remittances flowing into the country. It is easier than ever before to send money to Nigeria through online services like FAZRemit.
Remittances to Nigeria from the US alone reached $7.2 billion in 2018. The total remittance figures of the country reached $25 billion.
Banks, IMTOs and Automated Online Transfers
Money transfer to Nigeria used to take weeks in case of banks and days in case of International Money Transfer Operators. Banks take anywhere from 2-3 weeks to remit money in the benefactor’s bank account in Nigeria. The IMTOs, claiming to be faster, take anywhere from 2-3 days to remit money to their branches in Nigeria. This is a lot slower than the instant transfers that online automated services like FAZRemit assure to its customers.
Even though Banks offer safe and reliable transfers, they also charged processing fees according to the foreign exchange rates. Customers are often troubled by the fluctuating processing fees due to the changes in foreign exchange rates. IMTOs prove to be less of a hassle due to their standard processing fees. But these services are charged at 8-10% of the total amount. It is a loss for the diaspora to pay a premium for a 2-day remittance to their loved ones. The IMTOs also do not do enough to provide safe and reliable transfers for their customers.
Money Transfer to Nigeria becomes easier
Automated online transfer services like FAZRemit paint a completely different picture for money transfers to Nigeria from states like California. They offer fast, reliable transfers at very affordable rates. They offer value to customers which they are missing out on with banks and IMTOs.
The customer’s money is safeguarded through the transaction and is completely in the customer’s control. Document verification during the registration assures safety and secured transactions. Online transactions reach the end benefactor in an instant, into their registered accounts.
FAZRemit is the industry leader in promoting money transfers to Nigeria from the US for a variety of reasons. FAZRemit offers instant account remittances to its customers at affordable rates and secure corridors. Customers need only register with FAZRemit in order to start sending money to Nigeria. They can send up to $999 by paying the lowest processing fees of 1.7%.
The Nigerian diaspora in California can use the easily accessible online banking platform to send money to their loved ones. FAZRemit does KYC verification during the registration in order to assure the safety and security of its customers and their money.
24/7 customer care and prompt reactions create a user-friendly and customer centric environment. Both of these factors play an important role in FAZRemit’s ease of use and customer-centric ethos.
FAZRemit assures fast and safe platform to send money Nigeria from the US.
Money transfers to Nigeria from the United States is just a click away. Join FAZREmit today.