ACE Money Transfer is an international money transfer and cross-border payments service provider supporting 8 African countries. The Manchester-based company allows you to make your first transfer to supported countries fee-free.
How ACE Works
You can create your account on ACE website or via ACE apps on Google Play Store and Apple Store. Documents accepted by ACE for identity verification include passport, driving licence, and EU member state ID. For proof of address, ACE accepts utility bill, bank statement, letter of employment, credit card statement, NHS letter/GP card, and official letter from any government body.
ACE may also ask you to provide source of funds. Documents accepted for proof of source of funds are pay slip. credit card statement, solicitor letter, house sale receipt, car sale receipt, bank loan document, morgages, and P60 or P21 (Annual Tax Returns).
How to Pay for ACE Money Transfer
To send money to your loved ones you have to pay for your transfer. Accepted methods of payment for remittance via Ace are debit card, credit card, and online bank transfer via Trustly and iDEAL. You should be aware that the method you choose to pay for your transfers may affect your transfer fees.
How to Receive ACE Money Transfer
Your beneficiary can receive the money in their bank account, mobile money wallet or cash pickup. You will see which payout method is available in the country you are sending money to before you complete your transaction.
How Long Does ACE Money Transfer Take?
If you are sending money using a credit card or debit card, your transactions will be completed in minutes. If you are sending money using online bank transfer, the money will be received within 1-2 banking days. Factors that may affect delivery time are accuracy of beneficiary details, difference in time-zones, and operational working hours (sending on weekends or local holidays will delay your transfer).
Ace Transfer Limits
While many money transfer companies impose limits on maximum transfers, ACE says on its website that there is no maximum limit when sending money as long as you can meet the compliance requirements. There are also no minimum transfer limits.
ACE Fees And Exchange Rates
Your first transfer with ACE is fee-free. Generally, ACE fees are determined by where you are sending from, the country of your recipient, how you pay for your transfer, and how your recipient receives the money. For instance, sending 200 GBP to Nigeria from the United Kingdom will attract a fee of 1.99 GBP while sending the same amount to Ghana, your fee will be 2 GBP.
You will see ACE exchange rates on the specific day you are sending the money before you finish your transfer. The company promises to offer its customers the best exchange rates. Note that ACE makes money from exchange rates.
Where Can I Send Money With Ace Money Transfer?
You can send money to Ghana (to bank accounts, mobile wallets and cash ), Guinea (cash pickup), Kenya (mobile wallets), Morocco (cash pickup), Nigeria (cash pickup), Senegal (cash pickup and mobile wallets), Sierra Leone (cash pickup), and Uganda (mobile wallets). Countries you can send money from are Australia, Austria, Belgium, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Norway, Portugal, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
Is ACE Safe
ACE is a safe and secure company to transfer your funds. The company has been verified by MasterCard and Visa. Moreover, it is fully regulated by the Financial Conduct Authority (FCA) and registered by Her Majesty’s Revenue and Customs (HMRC). ACE keeps its customers’ money separate from its own funds. The company has been around since 2002.
At the time of writing this article, over 13,000 customers have reviewed ACE on Trustpilot, giving it a score of 4.6/5. 81 percent of customers were satisfied with the money transfer company while only 4 percent complained of bad service. Common complaints from dissatisfied customers include transfer delays, poor customer service, and delayed refunds.