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Tag: affordable money transfer to Nigeria

What Do I Get If I Remit Money To Nigeria Using FAZRemit?

What is the best way to remit money to Nigeria? How convenient is it? Does the online money transfer platform offer its services at affordable rates? Is it the fastest…

What is the best way to remit money to Nigeria? How convenient is it? Does the online money transfer platform offer its services at affordable rates? Is it the fastest online service to send money to Nigeria? Some FAZRemit users, after registering and completing the document verification, or in some cases, before that, have the question of what do they get while sending remittances or paying bills in Nigeria from USA using FAZRemit.

No Cash Involved!

First of all, because of stringent security protocols, FAZRemit does not allow any sort of cash transactions as there are multiple risks involved in it. Moreover, being a licensed and responsible online money transfer platform, we also encourage our registered users as well as all the online remittance senders to avoid international cash transfers.

100% Security Guaranteed

For both, our customers as well as banks in Nigeria, FAZRemit ensures that every single transaction is 100% legitimate. Our comprehensive document verification for remittance senders ensure that every verified FAZRemit user has no possibility of creating a high-risk transaction. At FAZRemit, we strictly abide by AML/CFT regulations. From the user’s end, we verify the beneficiary. This ensures that every transaction is as safe as it can be. If because of any reason, a transaction is not completed, there are no deductions at all. So, with FAZRemit, either the users get 100% satisfaction or 100% refund.

Lightening-fast Money Transfer to Nigeria

Once the documents are verified, and a transaction is created by the user, it only takes an instant to send money. Currently, users can get this service only during business hours, i.e. Monday to Saturday, from 9.00 AM to 5.30 PM EST. All the transactions created at any other time are catered by our team on the next business day. Currently, you can send up to $995 in a single transaction and send up to $10,000 per month using our instant money transfer.

Round-the-clock Chat & Email Support

Whatever may be your query. Be it regarding our services, registration on FAZRemit, document verification, sending remittance to Nigeria, or any post-transaction query, we have everything sorted out. You have the option to contact us via E-mail at support@fazremit.com. Also, if you want to have a real-time conversation, all you need to do is – visit www.fazremit.com. Our 24×7 online chat support will attend you. Talk about convenience in money transfer!

Cheapest International Money Transfer

While banks may charge you up to 10% of the total transaction cost and IMTOs charge up to 5%, FAZRemit has specific transaction slabs. Thus, if you transfer 499.99 USD to Nigeria, you will just pay US$8.99. This makes FAZRemit the most affordable platform to remit money to Nigeria at just 1.7%. Even if you make the maximum one-time transaction (i.e. $995), you still pay a maximum of 2% of the total amount.

Furthermore, there is a very high maximum limit of $10,000 per month. Considering the affordability and the accountability FAZRemit provides, our recurring customers choose us to remit money to Nigeria from USA.

Information is the Key…

Apart from just providing the best online remittance services from USA to Nigeria, FAZRemit dedicatedly works towards keeping the customers updated with the latest trends. Through our regular blog posts and active social media presence, we connect with our audience personally. We give them the most relevant information in the field of remittance, finance and banking in Nigeria. Our blog posts also cover Ghana, Kenya and all other African nations.

Furthermore, we are well aware of our audience that mostly consists of immigrants residing in USA. Therefore, it is our responsibility to provide them with unbiased and analytically backed information.

Shouldn‘t This Be The Best Way to Remit Money to Nigeria?

Apart from all the above perks, we are overwhelmed by the positive feedback of our customers. At the same time, as soon as we implement their suggestions, we also send them a special letter of thanks. Our customers make FAZRemit the best online money transfer platform, and we do everything best to become their most preferred option to remit money to Nigeria from USA.

To experience all of the above and more, register on FAZRemit and instantly send money to your loved ones in Nigeria from USA at the most affordable rate.

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What is the Importance of Affordable Money Transfer to Nigeria?

Fast, convenient and affordable money transfer to Nigeria has always been a dream for Nigerian migrants living across the globe. Although the average remittance cost to Nigeria dropped to 10%…

Fast, convenient and affordable money transfer to Nigeria has always been a dream for Nigerian migrants living across the globe.

Although the average remittance cost to Nigeria dropped to 10% from 14% in 2008, it is still the highest in the world. Furthermore, all the Sub-Saharan nations suffer from the same problem. Nigeria’s share of overall remittances inflow has decreased, but that signifies something else. Irrespective of the high international transaction cost, other African countries have embraced the trend and are currently witnessing a boom in the remittance market.

For the largest economy in Africa – Nigeria – remittance is a major economic driver. In 2017, overall remittance revenue surpassed oil revenues of the so-called ‘oil-driven’ Nigerian economy by $2 billion. Moreover, the recorded remittance figure, as opposed to oil revenue, was considered being a conservative estimation. Reason being, only 40% of the Nigerians are banked.

Further, the rest 37% unbanked Nigerian population relies on the informal revenue inflow. This doesn’t mean that all of them are receiving remittances, however, a considerable amount of people do.

Among those, there are many who are skeptical about the regulated channel because of their distrust in the government and financial institutions. However, it is the responsibility of the government and the money transfer operators (MTO) to spread awareness about the services that provide affordable money transfer to Nigeria online. Such individuals and families must be made familiar with the benefits of online international transactions.

In this blog, we will lay down some points why Nigerians need to look a reliable and affordable platform to send money to Nigeria from USA one and how can they choose the best of them all.

1. Pay Less, Pay Smart – Choose Wisely

Gone are those days when you didn’t have any choice. Either there were limited banks or selected Money Transfer Operators. The digital world has eradicated all sorts of restrictions. Nowadays, just by browsing through the internet, one can easily compare one platform with the other and select the best one as per his or her specific requirements.

Removing the banks out of the question because of their exceptionally “generous” international transaction rates, an average affordable money transfer to Nigeria would cost anywhere from 5% to 7% of the total transaction.

But here‘s the problem!

While you are surfing through the internet, you may come across hundreds of money transfer platforms.

To ensure that it is a reliable platform, you must clarify the total transaction cost in advance. There are some platforms who do not include the currency exchange rates in their overall calculation. Such hidden fees could spoil your experience completely. So, beware!

However, FAZRemit ensures that for every money transfer to Nigeria from USA, the customer pays the lowest fee. Before making any transaction, you see the exact cost you want to pay, how much would your beneficiary get, and what would be your total cost.

Read: Cheapest Money Transfer Services from USA to Nigeria

2. Faster and Unlimited Transactions

Cash transfers are not just costlier but also slow, and here again, I am removing the “esteemed” banks out of the equation.

Cash transfers could be, in fact, very difficult in terms of feasibility as well as security. This is why you must avoid international cash transactions.

If you are taking a regulated course for an international transaction to Nigerian from USA, that you always must, you will be required to submit your KYC documents. Physical presence within the working hours and waiting in line will also compromise your convenience. Why would you want to do it to yourself when you can do it at your own convenience?

Along with convenient and instant wire transfers, the price is also very important. All of them have their own significance. FAZRemit, therefore, facilitates the fastest money transfer services from the United States to Nigeria, Ghana and Kenya to ensure that you get the best experience within the affordable range that you seek!

3. Actively Participate in the Country’s Economic Development

You must always make money transfer through a licensed and regulated channel. This ensures the security of your funds. In a case, because of any reason, your funds do not reach to the beneficiary, you can have your money back. If not regulated, there is a possibility that you may not be able to get your hard-earned money back! Well, that’s a bummer!

There are many benefits to choose a registered platform. On a personal level, you can get the best and competitive services.

On the broader side, once you choose a formal channel of financial transaction, you become a part of the national economy. This helps the government to create more accurate statistics of money-flow.

The Federal Government of Nigeria, then, can use these statistics to develop better policies. This could benefit not just you, your family, your community, but the entire nation.

Although there are economic problems and challenges that the Nigerian government needs to solve. But, if you, the citizen, do not comply with the basic requirements of the government, the vicious cycle of blaming one another could continue endlessly!

4. Always Get the Best Because You Deserve it!

There is a neck-to-neck competition in the market. In the digital era, you, as a customer, are the most valuable asset that any service provider cherishes. While competing for the throne of service providers facilitating the most affordable money transfer to Nigeria, you can easily get the best in the market. All you need to do is – Explore!

Central Bank of Nigeria (CBN) is targeted to drop down the unbanked population from 37% to 20%. The remittance trend is shifting drastically. In the age of millennials, the world is moving towards a more accessible and better choice every single day. And, the government will play a decisive role if they want to promote this trend and prosper or slow their pace and fall behind the race in which they have already taken a good lead. With a decisive victory in Nigerian elections 2019, Mr. Buhari has undertaken this humongous responsibility and the entire world is watching.

Billions are pouring in the Nigerian remittance market every single day. Everyone wants ‘More’. So, why not take the full benefit of it and choose the service that provides the most affordable money transfer to Nigeria?

 

To avail this service now, Register on FAZRemit today!

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