The city that never sleeps is a major component of the United States in creating jobs and providing futures to its citizens. It is also a beehive of African Americans with 25% making up the 8 million-strong population. African Americans have thronged to the city since the 19th century in the famous Bronx and Brooklyn area. Nigerian Americans have taken a liking to the city for the same main reasons, growth, and prosperity.
New York is home to a 223,000 strong Nigerian diaspora whose remittance is helping their families back home. Money transfer to Nigeria from the US accounted for $7.2 billion in 2018. The Nigerian diaspora has predominantly gone to banks and IMTOs for these international transfers. But is that because it is their choice or is it because they don’t have another?
FAZRemit offers the diaspora in the United States a better choice for money transfers to Nigeria with quicker, affordable transactions.
Banks have been at the helm of services chosen for international transfers by the Nigerian Diaspora. They offer safe and secure transactions but at fluctuating foreign exchange rates. The corridor to Nigeria is an expensive one due to the country being in a high-risk zone. These fluctuations undermine the value of the remittance to the diaspora and their families. Bank transactions also take 2-3 weeks to remit to Nigerian bank accounts, which according to today’s standards is utterly slow.
International Money Transfer Operators took advantage of the slow bank transactions to create a web of their own. Their services cut down the time for remittances from 2 to 3 weeks to 2-3 days, which is still slow. They charge their customers a premium for these ‘fast transactions’ which may go as high as 8-10%. This robs the senders and receivers of their remittance money which is a huge drawback of IMTOs. They also give the customers zero control over the transactions.
Online platforms try to ease the pain that the Nigerian diaspora face to get money to their loved ones in Nigeria. They help the diaspora in money transfer to Nigeria with a lot more freedom and accessibility. FAZRemit assures its customers fast, safe and affordable services to send money to Nigeria from New York and the USA.
FAZRemit’s Accessible Services for Money Transfers to Nigeria
Ever since its establishment, FAZRemit has been trying to enable the Nigerian diaspora with easy transfers to Nigeria. They assure their users more accessible and faster services than banks and IMTOs by using online transfers. With more access to transactions and even more value, it is one of the best choices available right now.
Registering on FAZRemit allows the user to send up to $2499 instantly to a benefactor’s account. The service does automated KYC documentation check at the time of registration for safety and security. The platform also provides prompt replies to any queries of the customer with a 24/7 customer service. The user has maximum accessibility to transactions and can track it to the benefactors account unlike at the IMTOs or banks.
FAZRemit offers its services at the lowest processing rates in the market. This provides the customer value for their transactions with a charge of just 1.7% for the remittance. The increase in internet and mobile penetration in Nigeria has made online money transfers to Nigeria with FAZRemit an option. With such low prices and so much value, is there really a need to choose?
For fast, safe and affordable transactions to your loved ones in Nigeria use FAZRemit. Join today to send money to Nigeria from New York!