Transfer Money Now
Main Services: International money transfers, remittance services, mobile transfers
Transfer Objective: One time/ Recurrent
Transfer Method: Direct to Bank, Cash pick-up, Mobile top-up
Min Transfer Amount: $15
- Great on mobile transfers
- Easy to send or receive money
- Good for remittance services
Main Services: International money transfers, cash pickup, remittance services, mobile transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up
Min Transfer Amount: £0.01
- Locked-in exchange rates
- 145+ years of experience in moving money
- Tracking options for transfers online
- 0-3 days of delivery (depends on destination)
Up to 24h
Main Services: Send money online, bank transfers, telephone transfers. Send money to family and friends, emigrate, buy a property overseas or make regular maintenance payments.
Transfer Objective: one off/regular transfers
Transfer Method: Electronic bank transfer, UK debit card, UK direct debit
Min Transfer Amount: £100
- Free transfer fees
- Free to open an account
- Transfers by phone, online or App
- Safeguarded customer funds
- Longstanding FX provider since 1979
Up to 24h
More than 48h
More than 48h
Up to 24h
One of the first things that you need to do when considering an international money transfer is to make a research of the providers, including exchange rates, speed of transfer, and credibility of the companies which you are considering.
Follow the link to get the main checklist on how to compare.
The limit per one transfer may vary depending on the conditions of the provider that you are using. For example, the maximum amount per transaction through Western Union is USD $5,000, while many others have no maximum limit. However, many if not all of the agents have a minimum limit for a transaction and it could vary from 1$ to 1000$. When using a bank transfer, the maximum amount of transaction in most cases is NGN 7,000,000 per day.
There may be lower limits depending on the country where you are sending from and the payment method used to fund the transfer.
See locations for additional country restrictions & check the specific conditions fitting your case.
Because of local regulations, when using a bank transfer, your funds can be only sent to personal, not business accounts in Nigeria. In addition, sending more than $10 000, or the equivalent amount in Naira, the Nigerian currency, will be reported to the Central Bank of Nigeria
We strongly recommend to check the local regulations of the sending location as well as the conditions and restriction of your chosen agent.
Depending on the type of remittance and the provider you are using, the transfer could be available to your recipient in Nigeria anywhere between few minutes and few days. The process of receiving a money transfer in Nigeria depends largely on your provider and how you’ve marked it for delivery. Your recipient may need to provide government-issued photo ID or a transaction confirmation number to receive your funds.
If they own an account with a Nigerian bank or money transfer company, they may not be required to provide this information each time you send money.
Please check the specific conditions fitting your case.
Most of the financial institutions have online tools on their website that allow you to track the money transfer. If you have carried out the money transfer to Nigeria via a bank, you can track your transaction by entering information like the tracking number and beneficiary’s account no. on the bank’s website.
When you send money via services like Xoom, Western Union, or Ria, you can always track your transfer by logging into your account on their website. The status tracking tools on the websites of these services keep the customers updated about the change in status. The recipient in Nigeria can also check the status of the transfer online. The check transfers and bank draft transfers can also be tracked online. Some of these institutions even provide updates via email and SMS where the sender and the receiver can keep a check on the status. A few companies like TransferWise and Xoom have mobile apps that enable customers to check the status of transfer on their mobile devices.
For the most cases, the answer is no, but be sure to check your specific case with the chosen agent.
Nigerian residents are taxed on any foreign income. Non-residents are taxed only on income originating in Nigeria. Double tax treaties are in place to avoid double-taxation. There’s no Gift Taxes in Nigeria.
Check the specific regulations fitting your case.
When you want to make a money transfer to Nigeria, your money has to be changed into the local Nigerian currency so it can be accepted by the Nigerian banks. But the provider or agent will convert the currency anyway, so you don’t have to deal with it yourself. Generally, Agent locations only accept cash in local currency The receiver in Nigeria could by paid out in Nigerian Naira (NGN).