How To Send Money From Nigeria To Another Country Via MoneyGram, Paypal & Western Union
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In this article,you will learn how to send money from Nigeria to any other Country in the world, United Kingdom, United State, Libya, Cameroun, Ghana, South Africa, Uganda, USA, Canada, Europe, Kenya, Philippines, UAE, Malaysia, Germany, Dubai, Indonesia, Jamaica, China, Pakistan, India.
In this article you will learn four basic cheap methods of sending money from Nigeria to USA, UK and another country through MoneyGram, Paypal, Western Union and Domiciliary account transfer.
Transferring or sending money from Nigeria to any other another country has now been made very easy especially with the New CBN revised guidelines for International Money Transfer Services which now allow commercial banks in Nigerian to initiate Outbound Money Transfer services to ease the stress of sending money from Nigeria to person(s) outside the shores of Nigeria.
Receiving money that has been sent to Nigeria from other country like USA, CANADA or any other European country is more easier than to send money from Nigeria to other country, this because almost all commercial Nigeria banks are under the inbound money transfer services guideline as provided by Central Bank of Nigeria.
Under this inbound money transfer policy, a person living outside Nigeria can send money to an individual in Nigeria but the reverse is not the case for those living in Nigeria
The Outbound money transfer regulation by CBN came up as a result of the negative perception about Nigeria being a country for money laundering and others fraudulent activities and this has badly affected. Also Nigerians who wish to send money to their family members, relatives, friends, make payment for conference registration and those who are into the business of importation of goods and service from other countries continue to find it difficult.
HOW TO SEND MONEY FROM NIGERIA TO ANY COUNTRY IN THE WORLD
The Only CBN licensed operators able to send money from Nigeria Central Bank of Nigeria (CBN) are
Before now most people thinks that moneygram and western union is the only is the operators through which money can be send from Nigeria to another country. i have listed two additional options via which you can use to send money from Nigeria to other country making it totally easy to transfer money from here
Western Union Money Transfer
There are 5,000 Western Union outlets in Nigeria, 22 licensed banks and 905 micro-finance banks. Among these banks, about 70% of them already serve as agents to Western Union although they are a licensed operator their agent service relationship is limited, the last time i tried sending money through western union money transfer services to other country it actually didn’t work
FIRST BANK OF NIGERIA PLC is the only Outbound Money Transfer licensed bank. You can actually send money from Nigeria to another country through Firstbank’s western union money transfer service.
First Bank Of Nigeria Western Union Money Transfer Requirement.
How To Send Money Through Domiciliary account
If you thinking of the easiest way to send money, your domiciliary account fund transfer still remain one of the best options. To be able to send money from Nigeria to another country through a domiciliary account, you need to have or open a domiciliary account. If you want open a domiciliary in Nigeria, you can open a domiciliary account with Gtbank, Firstbank, Zenith bank, diamond bank or UBA follow the link to learn about domiciliary account
A domiciliary account is a special foreign currency account that allows bank costumer save money in US Dollars, Pounds Sterling or Euro with you been able to withdraw the hard cash or exchange the money at the prevailing exchange rate. A Dom account helps in facilitating your international business transactions and is funded through travellers cheques, lodgement of foreign currency cheques, cash inflows and cash deposits. Domiciliary account can be good and effective when big amount of money is to be send from Nigeria to another country.
How to send money from Nigeria to another country using GTbank domiciliary account
To send money from Nigeria to UK , United State, Cameroun, Ghana, South Africa, Uganda, USA, Canada, Europe, Kenya, Philippines, UAE, Malaysia, Germany, Dubai, Indonesia, Jamaica, China, India, Egypt, Pakistan or any country in the world through GTbank domiciliary account;
As I said before, “if the money you will transfer abroad is more than what you have in your domiciliary account, you have to pay in extra money into your domiciliary account. Meanwhile, GTbank are NOT into currency conversion, therefore you have to convert the money (the naira form) you will pay into your domiciliary account to its equivalent international accepted standard currency. You can do this at Firstbank, black market or any other financial institutions that are into money exchange”.
How to send money from Nigeria to another country through MoneyGram International
MoneyGram give you a great opportunity to send money from Nigeria. With more 300,000 outlets in over 200 country locations, partnering with UBA with over 700 business offices in 19 African countries and offices in New York, London MoneyGram still remain the best answer to the questions of How to send money from Nigeria to another country cheaply.
Banks like Ecobank, UBA, First Bank, Access Bank, Sterling Bank, Fidelity Bank, Skye Bank, Keystone Bank, Enterprise Bank, Mainstreet Bank, Diamond Bank and Wema Bank are some of the banks which allows you to send money from Nigeria to another country through MoneyGram International.
How to send money from Nigeria to another country through PayPal money transfer.
If you want to transfer money from Nigeria to another country through PayPal, you need have a verified PayPal account. Currently, only Firstbank of Nigeria provides PayPal account services to its customers.
Paypal is one of the top online money processor in the world which allows business owners and individuals to make and receive international payments cheaply and easily. platforms like Amazon, eBay, and other top e-Commerce websites has adopted Paypal as their prefered payment processor and this has allowed paypal to grow that it now boasts of more than 100 million paypal users worldwide”.
One you have successfully opened and verified your paypal account with FirstBank plc, you can easily login into your Firstbank PayPal account through FirstOnline (first bank internet banking platform) and make your money transfer to any country
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