Looking for the cheapest and fastest way to send and receive money across Africa? Learn a step-by-step guide on how to make affordable transfers on Bitnob.
It is no news that sending and receiving money across Africa can be a challenging experience. With high transaction fees, long wait times, and unreliable services, many people feel frustrated and discouraged.
We can all agree that the ease of intra-African transactions includes being affordable, accessible, and swift. Although there are options made available by the systems of each African country, there are still lingering chats about the difficulties in sending and receiving money across Africa.
According to African Business, “The average fee in sub-Saharan Africa is 8.46% –far higher than the 3% targeted by Sustainable Development Goal 10 on reducing inequality within and among countries. Cutting these charges will encourage more Africans working overseas to transfer money back to Africa and could also ease the transfer of money within the continent and individual countries”.
Bitnob: The Fastest and Cheapest Way to Send and Receive Money Across Africa
Bitnob allows you to send to recipients in 8 different African countries including; Ghana, Togo, Nigeria, Kenya, Rwanda, Benin republic, Senegal, and Ivory Coast. For example, you could be a Kenyan living in Ghana and you would love to frequently send money home to your friends and family. You can directly send money to their local bank accounts or Momo wallets.
However, you might be wondering why our solution is different from others you have used or heard about before this article. Here are 3 reasons why you should Bitnob to send and receive money across Africa;
Cheaper transfer fees
The conventional solutions we were provided with have us using a significant percentage [8.46%] of the money as transaction charges. When you use Bitnob to send money across Africa, the transfer rate is unbelievably cheaper.
Fast transactions
People often have to wait hours or even days to receive money sent from one African country to another, but on Bitnob transfers go through in minutes.
No Hidden Charges
We've all had situations where the money being sent is reduced as the receiver receives it. This is not the case with Bitnob; the recipient receives the exact amount sent.
How to use Bitnob to Send and Receive Money Across Africa.
To make a direct transfer into someone’s bank account or mobile money wallet, you are required to download the Bitnob app. You need to verify your account and fund your USD wallet, and you can then follow these easy steps to send money across the supported African countries on Bitnob
- Tap on the “Transfer” button on the Quick links section of the homepage
- Tap on “Transfer to Bank or Momo”
- Tap on “Change currency” to select the country of the account or mobile money wallet you want to transfer money to
- Fill out the amount you’d like to transfer, then tap on “Continue”
- Select the account or mobile money provider and fill out the details of the account your want to send money to. If this person would be someone you intend to send money often, then tap on “Save as beneficiary” to make make the person a beneficiary.
- Tap on “Proceed to Transaction Note” to add a note on the transaction
- Review the transaction summary and then tap on “Proceed” to initiate payment to the account or mobile money wallet.
And there you go, you just made a seamless cross-border transaction!
Explore African Countries With Bitnob
While it is great to recommend Bitnob to people, it is also important to note that whoever you want to transfer money to from your Bitnob app does not necessarily need to have Bitnob. All you need is the recipient's local bank details or mobile money number to make money transfers.
This means that you can decide to explore one of the countries that Bitnob allows direct transfers to [Ghana, Kenya, Nigeria, Rwanda, Ivory Coast, Benin Republic, Togo, and Senegal] without holding the currency of that African country.
The same thing goes for sending and receiving money for personal and business purposes in the comfort of your home. Ready to start sending money seamlessly across African countries? Click here to download and get started.