The transaction fee in an international money transfer consists of the exchange rate and processing fee.
And, one always look for an affordable alternative to send money to Nigeria, Ghana, Kenya or any other country. Banks have had a very disappointing run in this area because of their absurd processing charges. So, customers turned towards IMTOs.
But Now, The Trend is Evolving…
Online money transfer services like FAZRemit have taken a revolutionary step in the domain of customer satisfaction. How?
IMTOs charge anywhere in between $20 and $90 to send $1000 from USA to Nigeria. One could easily fall prey to the deceptive concept of showing the exchange rate margin as 0%. Others may do the same for the transaction fee. One must know that the total fee that you will be required to pay at the end of the day would be the sum of the exchange rate and transaction fee charged by the concerned IMTO.
Total Money You Will be Paying = Transaction Amount + (Exchange Rate + Transaction Fee)
This is the way IMTOs operate and do business. Yet, you will only be shown just one portion of it. And, all you will see statements like:
“0% transaction fee” or “We do not take any exchange margin” or similar statements.
It is, therefore, time that you understand the difference between what you actually get from a service provider and their marketing…
How is FAZRemit’s Transaction Fee Structure Different?
Instead of setting up a stringent percentage of an amount, FAZRemit has divided the transaction fee into 2 simple brackets.
In case a user wants to send money up to $500, there is a flat overall transaction fee, i.e. $8.99. This lowers the transaction fee to 1.7% of the total transaction.
If the transaction amount is more than $1000, we charge a flat 2%. On the other hand, IMTOs charge 2% to 9% which may vary on the basis of the exchange rate in case they are considering the exchange rate margin in their terms and condition of wiring money (which most of them do).
And this is how FAZRemit facilitates the cheapest money transfer from USA to Nigeria, Ghana and Kenya.
Furthermore, FAZRemit gives 100% guarantee of a complete refund in case the transaction is not processed. Whether it is any technical error from the payment’s source of origin, i.e USA or termination, i.e. Nigeria, Ghana or Kenya, we take the full responsibility of delivering your hard-earned money where you intend to deliver it.
All you need to do for availing the full benefits of our ‘Instant Money Transfer Nigeria’ services is – complete the one-time registration and apply for the document verification. Once we verify your application, you can send up to $10,000 per month to your loved ones in Nigeria from the United States. So, don’t wait anymore and register now on FAZRemit!
PS: No term, condition or asterisk applied*