The number of people sending money to Nigeria is increasing at a rapid rate. There are numerous reasons why people may need to send money to Nigeria. From supporting families to paying for international purchases or properties abroad, whatever the need may be, one of the things that people are always concerned about when it comes to sending money to Nigeria is the expense involved.
International money transfer can be expensive but there are a few tips that can help you cut down the expense occurred in the process to send money online:
- Send More, Save More:
When anything is purchased in bulk, the prices are relatively less and the purchase is more affordable. Same is the case with online money transfer. If the international money transfer can wait for a while, it is better to wait and send a large amount all at once. This way, you will be charged at once. However, in the case of frequent transactions of smaller amounts, the expense involved is also considerably more.
- Choose Service Providers Over Banks:
Banks are one of the most commonly used mediums to send money globally. Yet, most people fail to realize the fact that banks are also the most expensive channel through which one can send money to Nigeria. There are many service providers like ACE money transfer that can help you in this regard. They have services that are not only more affordable but are better in terms of reliability as well.
- Wait For The Right Currency Exchange Rates:
Currency exchange rates is one of the major contributing expenses when it comes to sending money to Nigeria. Some people get hasty and do not consider the exchange rates when they are sending money abroad. This not only reduces the value of the money being transferred but also increases the expense involved in sending the money. It is recommended to keep an eye on the currency exchange rates and carry out the transaction when the rates are in your favor.
- Compare Service Charges:
There are numerous service providers in the market. Each of them has its own pros and cons. Most of the people opt to go for the first service provider that they come across. But this is a sensitive matter that requires research and thorough consideration. You must consider a couple of service providers and get to know at which rates do they offer their services. This way, you can find a service provider that can provide safe and reliable money transfer facility at a rate that is affordable for you.
Use Online Money Transfer Mediums:
There is a reason why online money transfer mediums are so popular. They are not only affordable but they are also a quick way to send money to Nigeria. You can carry out the transaction yourself and be assured that you are not spending money unnecessarily when trying to send money to Nigeria.