Just in case you were wondering why most people prefer to use Bureau de change to exchange currency, you’ll find out why in this article. Before we dive right into the reasons, it’d only be right to have a basic understanding of what a Bureau de Change is.
What is a Bureau de Change?
A Bureau de change is basically a business that generates its profits from buying and selling foreign currency. But the Central Bank of Nigeria in its manual described Bureau de Change as a retail foreign exchange dealer carrying on the business of Personal Travel Allowance (PTA), Business Travel Allowance (BTA), medical and school fees.
This goes to show that the Bureau de change was created to support Nigeria’s economic growth and the CBN’s commitment towards achieving a stable exchange rate in the forex market. Having established what a Bureau De Change is and isn’t, we can now revisit the reasons why it’s the popular choice for exchanging foreign currency in Nigeria.
Reasons people exchange currency using Bureau De Change and why you should too
Best rates
The one place where you can get the best rates when you’re selling foreign currency is the Bureau de change. Their mode of operation allows them access to parallel market rates which may still vary from individual BDCs. These variations are by small margins and despite that, the rates are somewhat regulated throughout the forex market.
Convenience
The flexibility that comes with exchanging currency using Bureau De Change is unmatched. BDCs make the transactional process so easy and seamless so much that some BDC establishments deliver home service to their customers.
Quick turnaround and fast payments
Another reason people prefer to use BDCs is the speed at which transactions are being processed. You can literally have your money at hand or sent to your bank account in minutes.
Good customer service
Just like any other business, BDCs understand that their bottom line is greatly impacted by their customers’ satisfaction. They go the extra mile to extend friendly courtesy and deliver exceptional service to their customers.
Supply Overflow
A bureau de change business has a lot more access to foreign currencies. Their supply seems to be endless. It doesn’t matter how much you need, you will get it at a Bureau de Change within a short period of time. A luxury you can’t find with other channels of exchanging currency.
Bureau De Change with the Best Rates in Nigeria
RespectedFX is that Bureau de Change where you will never be disappointed at their exchange rates. Best and most competitive rates is what they offer along with a jolly good customer service. The best of both worlds. Exchange currency with Respected FX and experience a whole new world of customer satisfaction.
