Nigeria has been facing a lot of economic problems in recent years. For many years the people of Nigeria, especially since independence, have been craving for development. Any meaningful development anchors on these very basic needs– strong institutions, availability of resources and good management. Resources comprise human and natural resources. However, the development processes are disrupted by socio-economic challenges such as hunger, poverty, unemployment, poor health, illiteracy, corruption, greed, insecurity, among others.
Online financial aids from international citizens have been pillars of strength and support for the country. FAZRemit has been a popular medium in this transaction.
Money transfer from New Jersey by FAZRemit
An online transaction is a password-protected payment method that authorizes a transfer of funds over an electronic funds transfer (EFT) all across the globe. FAZRemit offers you convenient services that allow you to make international online transactions easily. The present hassles are taken care of by FAZRemit.
Many major United States banks have the facility to carry out international transactions like funding to Nigeria. But with this follows typically high transfer fees and offers of high exchange rates that are comparatively lower than the mid-market rate — or the rate banks and transfer providers use when trading among themselves. FAZRemit plays fair in this game.
Online transactions in New Jersey come with a lot of processes to ensure safe transactions. FAZRemit reduces the efforts and makes transactions less of a headache while maintaining the guarantee of safety. However, people are still doubtful of these transactions. It is because of the commonly faced hassles during the transfer of money.
What are the common problems with international transactions?
Unstable exchange rates
As the exchange rates are directly dependent upon the economy of the country, certain changes occurring in the country like Brexit law, depression, etc. which can affect the exchange rate as a whole. These varying exchange rates have been a common problem for years. The flow of remittance is also sometimes affected by various economic factors like migration crisis occurring in Europe. FAZRemit keeps you updated regularly to avoid you from getting in any sort of inconvenience.
High transmission fees
Most of the banks and MTO’s charge a huge amount as a transaction fee. The transaction fee varies from bank to bank and in MTO’s also. The banks and MTO’s have been overthrown by easier online transaction websites today. These online services provide low transfer fee which has eventually reduced the transactions made through MTO’s and banks. It’s smoother for people to make money transfer to Nigeria from New Jersey online with these websites. By FAZRemit you can easily send up to $999 by paying the lowest processing fees of 1.7%.
Fear of the unknown
It’s not just the transmission charges, along with that there are many intermediary charges that occur before the money reaches the final end. The types of intermediary fee vary for every country and unless a person has sent the money before, it is impossible to find out the exact amount that reaches them. FAZRemit helps you keep updated with your transactions daily, so you know where and when your money reaches the rightful authority.
FAZRemit also provides constant tracking notices to its customers since one of the major problems occurring repeatedly in this type of international payment system is the inability of the persons to track their payment. Because of this reason, most of the people are unsure and the importers are unaware whether their particular amount has reached the Bank account of the exporter.
The problem of importers and exporters
FAZRemit is authorized and a known digital platform powered by Choice Money Transfer. Both the importers and exporters have to provide proper identification and reason for the money transfer before making any transaction. The exporters are subjected to many types of identification processes. Also at the same time, the importers are forced to pay as direct cash rather than using various types of digital technological methods such as debit or credit cards and Online net banking transactions. FAZRemit cuts it short for you and provides you hassle-free easy steps to follow.
So technically choosing the online method of the transaction would be the best option to make money transfer to Nigeria from any state in the United States.