Benin is a West African country with diverse cultures, languages, and religions. Many Beninese citizens have chosen to go to other countries to live and work while sending money back to friends and family in Benin. When individuals do so, they need fast, low-cost, and dependable money transfer options to ensure their funds reach their destination swiftly and safely, with no hidden fees or taxes. Here are four options for sending money to Benin from UK.
TransferGo
TransferGo is popular among users because of its low rates and fees. TransferGo provides a fast service to assist consumers to wire funds in a matter of hours, but it comes with high costs. Customers must also pay extra when using debit or credit cards.
One of TransferGo’s most significant drawbacks is that customers may only receive money through a bank deposit. Furthermore, many customers express dissatisfaction with the lack of quality help available on weekends or during non-working hours.
Remitly
Remitly accepts both credit and debit cards, and you can send money in minutes with their express option. Because Remitly has no minimum transaction amount, it’s ideal for sending small amounts to family or friends in other countries. When it comes to fees, Remitly isn’t very forthcoming. More than a third of their costs are made up of exchange rate markups. Moreover, the out-of-date website structure of Remitly makes sign-up a bit difficult.
Wise
Wise has grown in popularity due to its low fees, making it a viable option for transfers of all quantities. Wise takes three to five days to send money to Benin in most circumstances. Another possible source of concern for Wise users is that the exchange rate is below the mid-level.
Furthermore, Wise doesn’t have a solid consumer base in many exotic locations, such as Benin, which explains the longer transfer time. Also, there are no instruments for tracking expenditure and planning, and deposits and standing orders aren’t guaranteed. There are also some platform compatibility difficulties, such as with PayPal.
Lycaremit
The only company with a client base in Benin is Lycaremit. Lycaremit is a popular choice among clients because of its extremely competitive pricing. Lycaremit customers can send money to Benin in as little as 48 hours. Another critical feature of Lycaremit is that consumers have access to customer service 24 hours a day, seven days a week, which can help them deal with any potential delays. Transactions on Lycaremit are 100% secure and encrypted.
Bottom Line
There are various international remittance options available, each with advantages and disadvantages. Some businesses have acceptable rates and fees, but they aren’t transparent. Others are cheaper, but they take longer to deliver and are more susceptible to cyber-attacks. Lycaremit, fortunately, meets all of the right criteria, making it a good choice for both large and small transfers. Register with us if you’re looking for a low-cost, hassle-free way to send money to Benin.
