About USD and XOF
A lot of money is sent every day from US to Senegal. People need money to conduct their various normal daily operations and activities. Records from the World Bank show that $85,000,000 was sent from US to Senegal in 2017. These are pretty high numbers and make Senegal one of the top 50 states that receive regular remittance from US.
If you want to send money from US to Senegal, you have to know the various service providers in the industry. This way, you will have a variety of options to choose from when sending money from US to Senegal.
The best way to send money from US to Senegal
Some of the money transfer options that you can use when sending money from France to Senegal include:
Remitly offers the best exchange rates when sending money from US to Senegal. It is the best option to use when remitting cash into the banks of Senegal. With its headquarters in the US, any US citizen or visitor can easily get access to it. It has a user-friendly interface that does not compromise its secureness. The best part about Remitly is that it has relatively low transfer fees and a minimum transfer limit of $0.
Travelex is a direct cash service provider that offers your recipient the option of picking up their cash from their agents at designated points in Senegal. It is convenient as anyone can reach it easily. This is also supported by their wide network of ATMs that can also be found at Airport stores.
Western Union is an American financial service provider that offers its services to more than 200 countries across the globe. It is widely recognized by many businessmen as well as individuals as it offers its services to both. It deals in a variety of foreign exchange services such as currency converting, remittance services and information sharing concerning exchange rates.
4 things to consider before sending money to Senegal from US
If you love your money then you would consider using a service provider that is transparent and well researched on. Nobody likes losing their money, especially if you do not know what you are getting yourself into upon signing a transfer deal. So before you make any international transfer, you need to consider:
Exchange Rates: You have to ensure that the rates you are offered are closer to the interbank rate as compared to the one you are offered by another service provider. Be sure to confirm that the timing is right as market activities can affect the fragile USD-XOF exchange rates.
Customer service and Complexity: Always choose a service provider that is ready to help you complete your transfer successfully. Better yet, choose a service provider that is simple to operate so that you may avoid losing money caused by being caught up in a web of complex processes.
Refund policy and safety: A company’s refund policy and guarantee of safety show how transparent it is and how willing they are to serve their customers.
Transfer speeds: The last thing you want is a transfer company taking long with your money. This can lead to many inconveniences that may ruin your transfer.