Today is workers day, am not a worker but as a student, its equally holiday for me. So I need to profit of my free time to communicate with my blog companions.
I often have remarks to make about what goes on around me. This time, I wish to make a few comments on the way and manner Western Union money transfer functions.
If you live abroad or have a child who studies abroad, and the bank system in your country is not up to the international banking standard (transfer of money using IBAN), you will agree with me that you will be more or less subjected to using the international money transfer agencies.
This is where agencies like Western Union Money transfer comes handy. I appreciate the fact that there is at least a system that makes it easy to send and receive money, but what I do not appreciate is the level of extortion these agencies practice.
I doubt if clients of these agencies have not noticed the high level of fees one have to pay just to send money.
Firstly, you are obliged to pay a transfer fee that is close to 7% of the amount you wish to send. Secondly, you equally pay 3.3% of exchange rate, which means that you actually loose money because these agencies definitely do not practice the official exchange rate. And lastly, their rates keep increasing almost every quarter of the year.
So many people use these money transfer services (mostly legal and illegal immigrants), which makes that these agencies make a huge income.
I would love to strongly pass a message across to these money transfer agencies (mostly Western Union ). Please, when dealing with clients try to apply a bit of decency and consider clients because this is the soul of business. Stop extorting your faithful clients.
It is true that the main aim of every business is to make profit, but this does not justify why after haven made your clients pay more than 3% fee for service rendered, they (clients) still have to pay inconsiderate exchange rates.
Take for instance, the official rate of 1 euro = 183.97 naira, but with these money transfer agencies, 1 euro = 173 or 175; which makes a difference of 10.97 naira. Imagine you need to transfer a few thousands of euros and you have to loose 11 naira in every euro you send, you definitely agree with me that this is extortion.
I often have remarks to make about what goes on around me. This time, I wish to make a few comments on the way and manner Western Union money transfer functions.
If you live abroad or have a child who studies abroad, and the bank system in your country is not up to the international banking standard (transfer of money using IBAN), you will agree with me that you will be more or less subjected to using the international money transfer agencies.
This is where agencies like Western Union Money transfer comes handy. I appreciate the fact that there is at least a system that makes it easy to send and receive money, but what I do not appreciate is the level of extortion these agencies practice.
I doubt if clients of these agencies have not noticed the high level of fees one have to pay just to send money.
Firstly, you are obliged to pay a transfer fee that is close to 7% of the amount you wish to send. Secondly, you equally pay 3.3% of exchange rate, which means that you actually loose money because these agencies definitely do not practice the official exchange rate. And lastly, their rates keep increasing almost every quarter of the year.
So many people use these money transfer services (mostly legal and illegal immigrants), which makes that these agencies make a huge income.
I would love to strongly pass a message across to these money transfer agencies (mostly Western Union ). Please, when dealing with clients try to apply a bit of decency and consider clients because this is the soul of business. Stop extorting your faithful clients.
It is true that the main aim of every business is to make profit, but this does not justify why after haven made your clients pay more than 3% fee for service rendered, they (clients) still have to pay inconsiderate exchange rates.
Take for instance, the official rate of 1 euro = 183.97 naira, but with these money transfer agencies, 1 euro = 173 or 175; which makes a difference of 10.97 naira. Imagine you need to transfer a few thousands of euros and you have to loose 11 naira in every euro you send, you definitely agree with me that this is extortion.
I imagine that these agencies already make enough money through their transfer fees and for this reason, I suggest they stop cheating on their faithful clients and practice at least a fair exchange rate. They surprisingly will keep their clients and every one (agencies as well as clients) will smile, which will make business to continue to flourish.
No comments:
Post a Comment