03 Jan 2024
Do you know what is the one concern that the Zambian migrants face when they intend to send money to Zambia from abroad?
It is safety.
No matter what features a remittance transfer service provider offers, if their services lack security of funds, you will be wary of doing business with them. Right?
One of the most prominent adverse effects of technology in the digital movement of funds from one place to another is the risk of scams that run high each time you initiate a transaction.
It is almost the same as the loot of money in the olden days when carrying cash from one place to another entailed grave risks. Assaulting caravans for loot and plunder was the norm.
In the days of yore, it was in physical form.
Nowadays, technology transformed it into virtual from physical.
But, both ways, loot remained the constant.
But while in the past, there was little you could do to guard yourself against plunder, in the present, there are ways in which you can save yourself from the digital loot.
This blog will shed light on different techniques to apply to stay safe while transferring funds from one place to another.
Let’s delve deeper together to find out more!
Well, several reasons could be cited as a justification, but the following few are the prime ones and lay in the roots of your migration.
Zambia is an African country whose people suffer acute poverty.
They are so pressed by poverty that their lives get suffocated. They try to manage their limited resources and travel to developed countries to earn a living and support their families through a money transfer to Zambia, whose repetition they decide according to their finances.
In Zambia, a majority of people lack life essentials. Even two square meals a day are a luxury for a large segment of its population. Life for these people is no less than a daunting challenge.
Job opportunities in Zambia are in short supply. Labor work here and there may be aplenty and available, but these hardly suffice to maintain a decent living.
Put together, all of these indicate that Zambian migrants suffer financially immensely before finding work in a foreign land. They, therefore, cannot afford to avoid attaching due importance to the safety of their hard-earned money. And make sure to be safe while sending money overseas.
Learn about the essential measures to take to stay safe in your digital fund transfers by clicking the link below:
Let’s now quickly understand online scams and a few relevant statistics.
Online financial fraud happens when someone deprives you of your money by applying deceptive means like fake calls emails, etc. The modus operandi for such scams is several, including Phishing, Identity theft, Investment fraud, etc.
Understanding each one of these separately is important so that you know which call is authentic which email is essential to respond to, and so on.
Let’s take a look at some facts concerning online scams.
All these statistics compel you to be extra careful about the safety of your online money transfer to Zambia.
You should now see what you should consider for your virtual safety.
Give importance to the following and find safety in your money transfers.
A transfer that completes in seconds leaves no margin for the scammers to penetrate the process and strike.
A company’s security parameters must be studied and understood completely. An authentic service provider will offer cooperation should you wish to inquire about its safety mechanism, while a dubious one will apply evasive tactics.
Always remember that more intermediaries in the process will increase the chances of fraud. Make sure to find a service that does not involve any intermediary.
A service provider whose customer base is huge and whose subscriptions run into millions is proof enough that the services are authentic. But be careful about this because fake subscriptions are also available to trick you into believing that all is well!
Be extremely careful while filling in the recipient’s credentials, as a minor error here can divert funds elsewhere, whose recovery is nearly impossible.
Customers are always blunt when it comes to the provision of feedback about a company’s service quality. Nowadays, a visit to a company’s official platform to read reviews will reveal its authenticity.
Keep an eye on these, and your transfers will likely be safe.
A tightly secured remittance service provider, ACE Money Transfer offers live exchange rates, low fees, speed, and much more from one window should you choose to send money to Zambia online with it.
To evaluate the security of a money transfer service, look for indicators such as licensing, encryption, regulatory compliance, and customer reviews. Reputable services will have strong security measures in place.
Online money transfer services can be just as secure as traditional banks, and in some cases, they offer added convenience and competitive rates. However, it's essential to choose a well-established and regulated service with robust security features.
To protect yourself from scams or fraud, be cautious of unsolicited offers, verify the legitimacy of the service you're using, double-check recipient information, and avoid sharing sensitive financial details with unknown parties. Staying informed about common scams is also essential.
If you suspect a problem with a money transfer, contact the money transfer service's customer support immediately. They can assist you in resolving any issues, including tracking the transaction or initiating a refund if necessary.
To strike the right balance between security and cost-effectiveness, compare exchange rates, fees, and security features among different money transfer services. Choose a service that offers competitive rates while maintaining a strong commitment to security and reliability.