Remit Choice is a leading money transfer company, offering services around the world. With our fast and secure transaction process, millions of expats are satisfied and regularly use Remit Choice. Money transfers are faster and more secure than other services but sometimes it may be slow unexpectedly. Here in this article, we will analyze the reasons for the delay in online money transfers.
Causes of Transaction Delay
We are always eager to make transactions quickly and securely. But there may be times due to some unexpected reasons, the transaction process goes slow. The unexpected happenings are most of the time beyond the control.
1. Unstable Network of Telephone Operators
Due to errors in the telephone network, sometimes the transaction process goes slow. Data transfers between your device and the operator’s computers are made when you send money. It takes longer to send and receive this information if the network is slow.
This slows down the whole process. For example, our customers from the UK faced high challenges with transaction delays in Ghana. This caused internet delays and a total lack of network connection for several days, which stopped a lot of money transfer activities. We called our customers and informed them about the issue.
Some data may also be lost during transfer if the network is shaky. So, it’s clear that these kinds of problems are often out of our hands, as are the solutions to them. We suggest, though, that you wait until the network is stable before trying the process again.
Bank Delays
There are most of the time transactions are going slow due to delays from the side of banks. If you choose a bank transfer service as a payout partner you may have to wait longer. This is due to limited bank working hours or transactions on holidays. Due to these and many other various reasons money transfers can be late, but most of the time it has to do with how banks work internally.
Like when you send money from the UK to a bank in Nigeria, the process has to go through several steps to make sure it is safe. Each bank does things in its own way, and these steps might take longer on holidays or when the bank is very busy. Time zones and changes in currencies can also make it take longer to send money to someone else country.
The bank in Nigeria may take longer than thought to process your transfer. The money won’t be sent until all of these checks are done. This can be frustrating for both the sender and the receiver.
Incorrect Information of Sender or Receiver
We have a lot of cases where customers face transaction delays because they have entered the wrong information. The process might not go through if the recipient’s name doesn’t match the mobile money account name or if the phone number or bank account number is wrong. In the same way, the exchange can’t happen if the recipient’s phone number isn’t related to a mobile money account.
Problems can also happen when you reach a transaction cap. When the system finds a mistake, it has to do more checks, which takes time and could even cancel the transaction. These mistakes can also make security checks take longer, which means you have to wait longer for approval.
If you have one of these problems, customer service will call you to let you know what’s going on and help you fix the information that needs to be fixed. So, it’s important to make sure of all the information before submitting your transaction request.
Reached Transaction Limit
A transaction limit can slow down or stop an online money transfer when it is met. Usually, you can only send or receive a certain amount of money each day or each month with your mobile money or bank account. This is the last time the move can reach the target. It checks to see if the limit has been reached.
If so, the transaction is either turned down or put on hold until the cap is raised again. This means you either have to wait until the next day or change the amounts that were changed, which takes longer.
In this case, you want to send 3,000,000 GHS to a family member in Ghana through Remit Choice, but they can only receive 2,000,000 GHS every day. In other words, the deal can’t go through as planned. On the other hand, you can send 2,000,000 GHS today and wait until tomorrow to send the rest. You could also split the money between a bank account and a smart app.
Tips to Speed Up Your Transactions with Remit Choice
If you’re having trouble with slow transfers, here are some easy things you can do:
1.Recheck the Entered Information
Make sure that the person you are giving money to has the same name, account number, and phone number that you placed the order for.
2. Ensure Network Quality
Make sure the network quality is good in the recipient’s country before you send money. You should also ensure that your internet connection is secure and that the recipient’s network works well, especially for online money transfers. This is what you need to quickly send money at the right time.
3. Wait Calmly for Bank Delays
Various bank rules determine how long certain steps take. It’s especially important for payments made in other countries. A bank that takes too long to process your transactions should be waited for during business days to finish your money transfer.
4. Contact Customer Support
Most transactions with Remit Choice are delivered very quickly. For example, sending money to a mobile money account only takes a few minutes, while depositing money into a bank account can take up to one working day. But if you see a delay that doesn’t seem normal, please call customer service right away. They can look into the status of your transaction process and let you know what might be taking so long.
Retry Sending Money
If there is a short-term problem, like a network failure or our site is taking a long time to open, try again in a few hours. Sometimes due to technical glitches systems slow down and the website or app takes time to open.
Check the Limits on Transactions
Before sending the specific amount to your loved ones check the transaction limit. If it is reached your receiver can not receive money and you need to select another payout method. You can also try sending a part of the amount on the next day.
Conclusion
Some transfers may take longer than expected because of things like an unreliable network, transfer limits being passed, or banking delays. There are, however, easy ways to solve these problems and make your money transfers smoothly. You can improve your Remit Choice experience by being careful before you send money, checking your information carefully, and keeping an eye on the network quality. If you have any queries about your transaction, don’t wait to call our customer support, which is available 24/7.
