How to Transfer Money From Nigeria to Another Country. Sending money from Nigeria to another country is a normal thing to do.
It could be because you are helping a family member abroad, paying for school fees in another country or making a business transaction.
Every year, Nigerians send billions of Naira to countries like the United States, United Kingdom, Canada and more. But sending money internationally can be confusing if you don’t know what to do.
In the past, sending money from Nigeria used to mean going to the bank or using traditional money transfer services which were slow and expensive. But today, things have changed.
With the new technologies and digital services, sending money across borders is faster, cheaper and more convenient.
It’s easier than ever and there are many ways to send money to other countries, some of which you don’t have to leave your house at all.
Whether you’re sending for personal reasons like supporting your family or for business purposes, there are many services that make it quick, secure and affordable.
In this article, we will explore how to transfer money from Nigeria to another country and break down each step so you can understand the process clearly.
How to Transfer Money From Nigeria to Another Country
So you want to transfer money from Nigeria to another country? First you need to choose the right service. There are many ways to send money abroad and the best option for you depends on cost, speed and convenience.
Step 1: Choose the Right Service
There are many money transfer services today and choosing the right one can be tasking. Some of the popular and trusted options to send money from Nigeria to another country are:
- Pay4Me: Pay4Me is an online service to transfer money to countries around the world fast and easy. This service is popular for its low fees and fast processing.
- Western Union: Western Union is one of the oldest and most popular money transfer service in the world. You can send money online or visit a local Western Union branch to send money in person.
- MoneyGram: MoneyGram is another popular money transfer service with wide network worldwide. It allows for fast transfer to many countries.
- WorldRemit: WorldRemit is fast and secure way to send money internationally. They have low fees and competitive exchange rates, good for people in Nigeria looking to send money abroad.
Each service has its own pros and cons.
Some like Pay4Me and WorldRemit are fully digital and you can send money right from your phone.
Others like Western Union and MoneyGram have physical locations where you can go and send money in person.
Step 2: Register and Set Up Your Account
After choosing the service that works for you, the next step is to register and set up your account. This is where you will input your personal information such as your name, phone number, email address and other details.
For online platforms like Pay4Me, you can download the app from Google Play Store or Apple App Store.
After downloading, open the app and follow the simple steps to create an account. You may be required to verify your identity using documents like your national ID or passport especially if you are sending large amount of money.
For Western Union or MoneyGram, you may need to visit a branch to set up your account. The process is simple and you will need to provide your ID. Once your account is set up, you can start sending money.
Step 3: Payment Details
Once you’ve registered and logged in to your account, enter the payment details.
This is where you’ll enter the recipient’s info, such as their name, country, bank account number (if you’re sending to their bank) or location (if they’ll be picking up in person).
For example, if you’re using Pay4Me, you’ll need to enter the recipient’s bank account info if you’re sending to their bank account. You’ll also need to specify how much you want to send and what currency they’ll receive.
Step 4: Payment Method
Once you’ve entered the recipient’s info, choose the payment method. There are many ways to fund your transfer and different services may offer different options. Here are some common ones:
- Bank Transfers: You can use your bank account to fund the transfer. Some services allow you to link your bank account to the transfer service directly, others may require you to use a debit or credit card.
- Credit and Debit Cards: Many services allow you to use your credit or debit card to pay for the transfer. This is a convenient option but may come with extra fees.
- Cash: Some services like Western Union allow you to pay with cash at a local branch.
The payment method you choose will depend on your personal preference and what’s available in your area. For example, Pay4Me allows you to use your debit card to pay for transfers so if you don’t want to go to a bank or branch in person.
Step 5: Pay
Once you’ve chosen your payment method, pay. When you use digital services like Pay4Me, the transaction will be processed instantly.
The money will be sent to the recipient and they’ll receive it within minutes or hours depending on the service.
However if you use traditional services like Western Union or MoneyGram, the transfer may take a bit longer especially if you’re sending to a bank account.
In some cases the transfer can take a full business day or even a few days depending on the destination country and the method you chose.
Once the transfer is complete you’ll receive a confirmation message or email from the service. This will include a tracking number or reference code which you can share with the recipient. This code is important because it allows them to track the status of the transfer.
Step 6: Send the Reference Code to the Recipient
If you’re using Western Union or MoneyGram you will receive a reference code once the payment is processed.
This code is important because the recipient will need it to collect the money. They will show the code along with their ID at the local branch where they are collecting the money.
For Pay4Me or WorldRemit the money is usually deposited directly into the recipient’s bank account so no reference code is needed. The recipient will be notified once the money is in their account and they can use it as they wish.
Step 7: Wait for the Transfer to Complete
The time it takes for the money to be transferred depends on the method you choose. If you use digital services like Pay4Me or WorldRemit the transfer will usually be completed within minutes or a few hours.
For Western Union and MoneyGram the transfer may take up to 24 hours or more depending on the destination country and the service used.
Why Pay4Me for International Money Transfers
So why Pay4Me for sending money from Nigeria to another country? Here are the main reasons:
- Fast and Easy: Pay4Me lets you send money in minutes, you don’t have to wait days for the transaction to be completed. The process is simple and can be done from your phone.
- Low Fees: One of the biggest advantages of Pay4Me is the low fees. Compared to traditional services like Western Union, Pay4Me gives you better exchange rates and lower transaction fees so you get more value for your money.
- Secure: Pay4Me uses the latest security measures to keep your money and personal information safe. All transactions are encrypted and the platform is fully compliant with international security standards.
Worldwide: Pay4Me sends to over 150 countries. Send to a friend in the US, pay tuition in the UK or transfer to a business partner in Asia.
Summary
In summary sending money from Nigeria to another country is easy when you choose the right service. With digital platforms like Pay4Me you can send money fast, safe and low fees.
Whether you’re sending money for family support or business transactions, follow the steps above to get your transfer done.
FAQs About Sending Money Abroad
What is the cheapest way to send money from Nigeria?
There are many services that offer low fees. Pay4Me for example has good rates and low fees. Western Union and MoneyGram have higher fees but have a large network of branches if you prefer to use cash.
How long does it take to send money from Nigeria to another country?
The time it takes for a transfer to be processed depends on the service you use. If you use Pay4Me it’s instant, if you use Western Union it might take a few hours or a day or two.
Can I send money to a bank account abroad?
Yes you can send money to a bank account abroad. Services like Pay4Me, WorldRemit and others allow you to deposit money directly into your recipient’s bank account.
