Best Ways to Send Money to Africa

Africa was once known as a Dark Continent. It has remained unexplored for centuries. The dense forests kept early voyagers off the continent and people knew very little of it beyond the coast.

As explorers got bolder, they started venturing inland and soon they learnt the potential of the tribal people, their strengths. Then the world learnt to harvest the riches of Africa. Thus, Africans started leaving their coast and moving across the globe.

As Africans migrated out, their families were left behind. It became imperative that the migrants send money back home for their families. In this blog, we will discuss the best ways to send money to Nigeria.

Local Bank Transfer:

Most major banks will help you send money to banks in Africa by wire transfer. These transfers can sometimes get stuck and take anything between 48-72 hours to complete. The exchange rates are not always the best in the market either.

While bank transfers have global reach but fees charged and can be used for mass payments, the transfer fees are pretty high considering that intermediary banks charge their own fees apart from the bank originating the transfer and the recipient’s bank. This topped with unpredictable exchange rates does not make local bank transfer the most desirable mode of transferring money internationally.

International Postal Order:

An international postal order is a good way to send money from the UK. It is a paper document that is used as a method of payment, similar to a cheque. It can be cashed at a post office if it has not been crossed and deposited in a bank account when crossed.

While an international postal order is much safer than mailing cash and unlike a cheque, will not bounce back, it has its own drawbacks. Both the sender and the recipient are charged fees. It has a sending limit of up to £250. It has to be delivered physically before it can be encashed leading to delay in receipt of funds by the recipient.

Online Money Transfer Services Such As KMoney:

Online money transfer services such as KMoney offer competitive market exchange rates. The fees charged are also minimal. KMoney makes transferring money a hassle-free experience. KMoney has the facility of automated API integration for pay-out which ensures that the transfer will be completed within 5 minutes of making payment.

KMoney also offers beneficiary account authentication. With the help of this feature the beneficiary account is validated by fetching and displaying the name of the account holder once the account number has been entered. Thus, you can ensure that the money you transfer reaches the right hands.

KMoney’s mobile app ensures you have 24*7 access to instant money transfer services. Refer a friend and earn £5 in your wallet. Register now with KMoney and your first transfer will be free.

Thus, KMoney is the best way to send money to Nigeria.