11 Jan 2024
According to a report by Macrotrends, the number of Zambian expatriates worldwide was about 127,915 in 2010. These migrants from Zambia work abroad to earn a living and send money to Zambia to offer financial support to their families back home.
The Zambian migrants had sent in $241.69 million in inward remittances to Zambia in 2021, according to a report by The Global Economy, which sought data from the World Bank.
Although several online money transfer service providers dispense services to millions of expatriates worldwide to transfer funds across borders, many service providers offer different service features and options.
Some service features and options are such that they correspond to the needs of the customers, while at times, some service features are least considered at the end of the customers.
Some reputable service providers design their services to facilitate their customers in every way possible. In addition to offering several important service features like speed, safety, exchange rates, etc., the payment options are given due consideration.
It is essential because one payment option means that the concerned service provider has little regard for the constraints of the customers.
Checking multiple payment options while choosing a money transfer service is one of the major concerns of expatriates. Because limited payment options will restrict the scope of services of the service providers.
It is, therefore, essential to consider what payment option a service provider is offering to its customers.
This blog will throw light on the payment options offered by ACE Money Transfer with the pros and cons of each, but first, a quick look at the Zambian economy to understand why Zambians travel to other countries to earn a living and support their families back home through a regular money transfer to Zambia.
These economic figures point to the country's economic health, which in turn answers why Zambians – not all but those who can manage – travel abroad to earn money.
Click here to learn the tips to save more every month as a Zambian expatriate in a foreign land.
The company has the following payment options on offer for its valued customers. It means that you can transfer funds across borders using any of the following payment options.
Credit cards are widely used for payments and purchases. These allow you to draw credit up to a certain limit. Your information is sent to the merchant (bank or store) while using the credit card, and then your credit card network sends authorization to process the transaction.
You can add your credit to the company’s app to transfer funds in exchange for a low fee, which is a percentage of the amount being sent.
A debit card can also be used for making purchases or transferring funds. While using a debit card, funds will be deducted from your account directly.
Add your debit card credentials to the company’s app, and you can easily make an online money transfer to Zambia with it.
It is a relatively new technology and is based on the principle of Near-Field Communication. You must set up your mobile wallet containing your existing card information. You can add any card to the said wallet.
ACE Money Transfer’s mobile wallet is simple to use for making online money transfers. It allows you to add any information you like to make transactions through.
These are some of the most established and trusted payment options available worldwide, albeit not ideal for online money transfers.
These typically occur between the accounts of the same banks or differ but are not considered suitable for remittance transfers due to slow speed, high fees, etc.
However, you can provide the company with the recipient's account details if you wish to.
This payment option is also available with ACE Money Transfer.
These are some of the widely used and acknowledged payment options that are available with ACE Money Transfer to offer facilitation to you in every possible way.
You have all the payment options available to you, each with its potential pros and cons. You can send money to Zambia online using any payment option that corresponds to your remittance transfer needs. However, do not forget to grab other benefits like low fees, speed, safety, live and competitive currency exchange rates, etc., ACE Money Transfer has on offer for you.
ACE Money Transfer offers a variety of payment options, including bank transfers, credit/debit card payments, and mobile wallet transfers for sending money to Zambia. Customers can choose the most convenient method for their transfer.
ACE Money Transfer may charge a fee for their services, which can vary depending on factors like the transfer amount, destination, and payment method. It's advisable to check their website or contact their customer support for specific fee details.
The transfer time can vary depending on the payment option chosen and other factors. Generally, bank transfers may take a few business days, while mobile wallet transfers are often faster, with the recipient receiving the funds within minutes to hours.
Yes, there may be limits on the maximum amount you can send in a single transaction or within a specific time frame. These limits can vary, so it's important to check ACE Money Transfer's terms and conditions for the most up-to-date information.
ACE Money Transfer provides services for both individuals and businesses. Whether you need to send money to Zambia for personal reasons or business purposes, ACE Money Transfer offers convenient payment options to meet your needs.
