It is no secret that most immigrants are in foreign lands in search of better livelihoods. It is not merely for themselves, but for their families back home too. To accomplish this dream, from time to time, they have to send money back home to their families. However, this does not come without challenges.
A few years ago, the major challenge was how the immigrant community would send money to their families. Advancements in technology gave solutions to this challenge. Different ways to transfer money were made available, and they included options like; Western Union, MoneyGram, Paypal, et al. These have been in use for a while and have enabled many immigrants to honour their responsibility to family.
However, transfer fees and misappropriation of funds have been another big concern for the community. Transfer fees from platforms like Western Union can go up to about 10% of the senders’ amount. This percentage is a lot when the sender has to make regular transactions.
Apart from that, most senders complain about their recipients not using the money for intended purposes. It becomes a burden as the immigrant has to send more money and only hope that the recipient uses it for the intended purpose. Quite a gamble, right? Well, thanks to the directed remittance module, both these problems are being addressed. Now let us delve into how remittance works.
Remittance is essentially when the migrant sends money back home. This money could be for education, bills, healthcare, or even household use. Due to high transfer fees to transact and the possibility of misappropriation of funds, directed remittances are now preferred by most migrants.
In directed remittance, migrants send value in a variety of forms instead of cash which risks misappropriation. For example, the migrant can send a redeemable grocery gift voucher instead of $100 physical money, and the transaction is at low cost or no cost. One could call such as remittance without fees. With this option, migrants honour their responsibilities to their families without the burden of transfer fees while families back home get the needed value. That’s a win if you ask me.
The fact that Fleri is leading the directed remittance space through its robust and highly affordable health insurance plans is key to note. At Fleri, we use a non-cash remittance module that allows Africans in the diaspora to buy health insurance for their loved ones back home. It is far better than sending cash which may not meet specific healthcare needs. It is especially so with African countries where economies are very unpredictable, and prices of goods and services can change at any moment.
With Fleri’s directed remittance, you get to choose from our variety of health insurance plans which has so many advantages.
- You stop paying transfer fees for each health emergency and sleep well at night.
- With a health insurance plan, you know that no matter what happens, your loved ones are protected 24/7.
- You get to work within your budget because the risk of misappropriating money is zero.
- You honor your responsibility of taking care of your loved ones while working abroad.
Fleri is a frictionless way to provide private health insurance for your family back home and you get to do this without worrying about transfer fees or the risk of misappropriation. Is it any wonder that we are leading the directed remittance space? Fleri is on a mission to help you protect the people you love wherever they are.
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