The state of Florida or the “Sunshine State” is famous for its sprawling beach line in the United States. It also has the 5th highest number of illegal immigrants in the country. The state is home to 21,312,211 inhabitants of which 22% are African Americans. The United States is the prominent destination for migrating Nigerian diaspora. Nigerian Americans make up 380,785 of the country’s population. The largest nation in Sub-Saharan Africa received $34 billion as remittances in the year 2018. Nigerian Americans in the state of Florida send money to Nigeria using 2 main platforms.
The recent trend has been to use Online platforms like FAZRemit instead of the traditional ones. It is very important because money transfer to Nigeria from US reached an all-time high of $7.2 billion in 2018.
Corridors for Money Transfer to Nigeria
Banks and International Money Transfer Operators ruled the corridors to send money in the pre-online platform era. There is a huge shift in this because of the increase in internet penetration in Nigeria. What made online services like FAZRemit a much better option than banks and IMTOs?
Banks provide their customers with a secure corridor to send money to Nigeria from Florida and many other states in the US. They can provide international account transfers and charge processing fees according to the exchange rates. An unfavorable exchange rate with Nigeria proves detrimental for the diaspora’s needs at the time of transfer. Affordable remittance is not possible with banks because of the workings of the world economy. Banks often take 2-3 weeks to send money to Nigerian bank accounts.
IMTOs assures its customers faster fulfillment of money transfers to Nigeria. They follow the protocol of branch-to-branch transfers to fulfill this promise. IMTOs charge the diaspora a premium processing fee for their service which can go up to 8-10% of the total amount. This is a loss for users who remit money to Nigeria because of the high cost and inaccessible transfers. The premium price the service charges its customers do not reflect the service it gives them.
Automated online transfer services like FAZRemit provides value to the customer. The user has complete access to the transfers and has full control over the details. The service provides instant transfers, with the users having complete accessibility to track the remittance to their loved ones. There are various platforms which fulfill this service, but FAZRemit is the market leader for affordable transfers.
Save on Money Transfers to Nigeria with FAZRemit
Registering on FAZRemit is timesaving, and it is easy to sign up even from Florida. Joining the service allows its users to send up to $2499 in an instant to their families in Nigeria. Increased internet and smartphone penetration in Nigeria boosted online money transfers to Nigeria from Florida with FAZRemit.
FAZRemit does KYC document verification and checks for the safety of its customers and to safeguard their money. Various back-end security measures ensure a safe corridor to send money to Nigeria online for users.
FAZRemit charges its customers a meager processing fee of 1.7% to use their services. This is the lowest fee charged by a platform for remittances from the US to Nigeria.
The easy-to-use user interface and the 24/7 customer service increase its user-friendliness while up keeping security.
FAZRemit offers value to its customers and money transfers to Nigeria have never been easier, faster and more affordable. Join FAZRemit today to avail a hassle-free service to send money to Nigeria from the US!