Delaware is one of the 50 states in the United States. The small state in the eastern coast of the US has less than a Million residents. This ranks them 46th in terms of population. But the state has a median household income of $62,000 which is higher than in most other states. African Americans form a large part of the black ethnic population in the state which is close to 200,000. Remittances to the African countries from the US has increased in recent times. The total remittance to Nigeria from the US alone grew from $6.2 billion in 2017 to $7.2 billion in 2018. Online platforms like FAZRemit aids the diaspora in money transfer to Nigeria from Delaware.
Limited options for Money Transfer to Nigeria
International transfers in the United States were predominantly carried out by banks. They proved to be safe and secure yet are on the decline. Banks provide International money transfers with variable processing fees. The processing fee is directly related to foreign exchange rates. This did not help the Nigerian diaspora who often have to pay exorbitant amounts to send money to Nigeria. The transactions also take 2-3 weeks which is a huge disadvantage for customers with time locks.
International Money Transfer Operators (IMTOs) carried over the bulk of remittance transactions for the latter part of the century. They provide “faster” transactions with remittances reaching the benefactors within 2-3 days. IMTOs charge their customers 8-10% of the remittance money as fees for these services. Their transactions are reliable for most customers but could be a hassle for the other. Moreover, the customers have no access to any info and the services are not user-friendly.
A New Player in the Field
The rise in technology usage has led to an increase in the usage of online services like FAZRemit. They provide fast, safe and affordable corridors to send money to Nigeria from the United States. The transactions can be done instantly through online platforms like FAZRemit. Their security is upheld through consistent checks and no illicit behavior is tolerated. FAZRemit and such services have created an easy corridor for the diaspora to remit money to their loved ones.
FAZRemit and Services it Offers
FAZRemit is a market leader in providing fast, secure and affordable transactions to Nigeria for its customers. They charge a processing fee of 1.7 % which is the lowest in the segment. The online platform has a user-friendly interface and is heavily customer oriented.
Registering on FAZRemit is easy. Further, documents submitted during the registration helps the platform to carry out KYC checks. This ensures safe and secure money transfers to Nigeria from the US. The importance of security in online transactions is understated. The service safeguards the customer’s hard earned money all their trust.
Transactions go through instantly and the customer has complete access to all the transaction details. 24/7 customer service enables prompt responses to the customer’s query. This helps the customer to clarify doubts and questions and remit money at the earliest. They also offer mobile wallet services with their money sending platform.
FAZRemit assures fast and safe platform to send money to Nigeria from the US.
Register at FAZRemit and send up to $2499 instantly to your loved ones in Nigeria.