So recently I fell into this situation whereby a customer I was transacting with had to send me money all the way from South Sudan.
So I told him to make the payment using WorldRemit which is my best and preferred method of receiving foreign payments. But according to him, he said, such a payment method wasn’t available to him there in Sudan. so he had to use the available one to make payment which was Western Union.
Two Days after the money dropped and was ready for pickup.
This is where the problem begins, I actually went to almost 12 banks to get dollars and none of these banks agreed that they had up to a thousand dollars ($1,000) on them.
The Rate Is Important
After all the stress I later had to think of an idea, because there is just one option I had since the bank can’t give me a physical dollar, which I can now take to exchange via the black market rate.
Doing that I’ll be at a serious loss if the bank directly exchanges the money for me (since the bank rate is always very low compared to the black market aka aboki rate)
Of course, looking at both rates you would pick the aboki rate because exchanging $1,000 via the bank rate will give me just N420,000 while the aboki rate will give me N620,000.
Note: the rate above was just a the time of making this content.
The In2In Method
The Best way I fixed this issue was to do what is called the IN2IN Method which means that I cashed out the dollar directly to my dollar account.
Then went to aboki and transferred it to them.
If your question is, “what if I don’t have a dollar account?”.
There’s still nothing to worry just locate any trusted person that has a dollar account, get his/her account details then cash the money straight to the account then after that leave the bank and locate an aboki guy to exchange it for you with their rate.
To avoid this stress there are other wonderful alternative platforms to try out.
Alternative Platforms To Use:
- RIA Money Transfer
- Money Gram
Personally, I strongly prefer WorldRemit among all.