Tuesday, March 03, 2015

BBC Colludes In A Lie With WorldRemit!!!


On the 1st December 2014, a BBC article written by Will Smale, a Business Reporter for BBC, lauded one of the greedy sharks of remittance as an angel saving the world. The article, which did not hide its tentacles of favouritism and full of PR for WorldRemit eulogize the business as charging "fees that are less than half those of the big players, a statement which is confirmed when you check its prices against those of the likes of Western Union.", but this statement is sheer lies! In fact, the statement clearly indicates how very little Ms Smale researched his article, let alone confirming what he was told [to say].

But don't be surprised, Will Smale through that article came across as the new breed of
'copy and paste' journalists who are all over the world making fame through superficial article that they barely can sit up to discuss.

Lets take a closer deeper look: and to begin, none of the big multinational money transfer agencies is my favourite let alone being angels. They are all in it for one thing; to make money, and make too much of it through frisking the poor of their hard-saved earnings.

Since the article in question directly mentioned Western Union, let's compare both services and you can see how Will Smale lied through his nose or does not and did not verify his information. Because after reading the article, I quickly checked WorldRemit and WesternUnion and was shocked with what I fond; a blatant lie in comparison to the unverified information in the article. Shame.

So on 7th January 2015, I again tested WorldRemit against its compared rival, WesternUnion as proffered by the journalist and below table is what I found for a £100 transfer from UK to Nigeria.

7th January 2015 comparison – WorldRemit vs WesternUnion

£100
Amt to Rcv
Charges
Exchange Rate
WorldRemit
27,159.00
£4.99
271.59
WesternUnion
27,874.59
£4.90
278.74
Difference
-715.59
.09
-7.15
Short-changed
£2.64


It clearly shows that you are £2.75 (including 9pence difference in their charges) better off doing your transfer through WesternUnion than WorldRemit as of 7th January. But that's not all. I have also tested the same services today having delayed this article, today 3rd March 2015, two months after the above comparison. Below is the result:

3rd March 2015 comparison – WorldRemit vs WesternUnion
£100
Amt to Rcv
Charges
Exchange Rate
WorldRemit
29,785.00
£4.99
297.85
WesternUnion
30,425.90
£4.90
304.25
Difference
-640.90
.09
-6.40
Short-changed
£2.15


The above shows that, 4 months after the article, the said WorldRemit will short-change you for another £2.24 (including 9pence over-charge) to send money to Nigeria. 

The above comparisons does not only show that WorldRemit short-changes you when they give your loved ones the money you sent, it also shows that WorldRemit is 9pence costlier. For anyone who does a regular remittance, you will know that 9pence means a lot and would gradually become huge amount in a matter of remittances.

While none of the big remittance companies are anything to be loyal to, WorldRemit seems to be even a worse shark in addition to exploiting the trust of people who need the service by aggressive frivolous PR like this one through the BBC. It is a shame that the founder of WorldRemit, Ismail Ahmed would exploit and manipulate the people he claims to help by lying to them and claiming to be one of them. Of course, he is not; he is a richman who has proved to be worse than the so-called 'others', 'Western' and what have you.

The difference Mr Ahmed is making as the article claims, is that he is creating and deepening poverty where people are already yoked under endless corruption. No wonder the BBC article did not include a link to WesternUnion or any other remittance service; a clear sign that BBC and Will Smale is colluding with this shameless but subtle exploitation.

This is symptomatic of the same attitude that African leaders have used to hold down their countries in endemic perpetual poverty while blaming and painting the West as the bad guys; yet they are the one looting their economies including aid monies from the same 'bad guy' West.

Now I trust WesternUnion better than WorldRemit which claims to be African.

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