Remitly transfer

Banking

Remitly transfer: How to send and receive money in Nigeria 2021

Remitly transfer: How to send and receive money in Nigeria 2021

Remitly transfer – Remitance to Nigeria and other African countries is apparently on a high side. A number of surveys had shown that African migrants in Europe, America and other continents of the world have contributed hugely to remittance back home.

That notwithstanding a number of channels like Western union, Money Gram, Ria have been on the forefront of providing money transfer services back home.

In recent time, more platforms are beginning to play in the market too, which makes for easy and cheap transfer fees.

In this guide, I am introducing to you one of such kinds who had join the league of the transfer platforms to further enhance user experience for seamless transactions.

Here is introducing “Remitly Transfer.”

About Remitly

Remitly incorporation is an online money transfer operator founded in 2011 with headquarters in Seatle, USA.

It began business operations to the Philippines in January 2012, expanded to the USA in 2013.

In January 2019, it was licensed by the Central Bank of Nigeria (CBN) to offer inbound remittance services into Nigeria.

This service is available as cash pick-up and Direct-to-account.

Why use Remitly?

The Remitly platform gives you an opportunity to send money to Nigeria without stress alongside other benefits like;

  • Low fees
  • You can send as low as $3.99
  • The transfer is timely
  • Your receiver receives extra $5 on a transfer of $100

How to send money via the Remitly transfer platform

You can now send money to your loved ones in Nigeria using Remitly in a few actionable simple steps.

  • Visit the remitly platform here
  • Click on “Join” to sign up
  • Choose your delivery partner (In this case Remitly transfer can be accessed at Polaris bank Limited only as at the time of writing this guide), so choose Polaris bank.
  • Enter your recipient’s name and address accordingly. Also select your delivery option, either your recipient receives through their bank account or they pick cash at the location.
  • Then enter your payment information
  • Track your transfer with email and text updates for you and your recipient.

Having completed your transfer, your receiver will get a text message informing he/her of the transaction details.

Note: The reference number is 11-digit code that looks like this; R11223344549.

This and other information will be received for transaction pick-up.

How to receive Remitly transfer in Nigeria

Now, you’ve received the transaction notification for Remitly. On this note, it’s either the money goes straight to your bank account or you are advised as a cash pick-up.

If the money is being paid into your account then start spending, but if it’s a cash pick-up you will need to visit a Polaris bank branch in your location to cash the money.

Recall, the money may not find its way to your naira bank account since all payouts are now in USD according to CBN latest directives.

Requirements

  • Make your valid ID card available (Voter’s card, driver’s license, International passport etc) some prefer your BVN copy.
  • Remember to go along with the reference number received earlier.

Follow the below steps to receive your transfers;

Step 1: Visit the nearest Polaris bank branch to your location, on arrival walk straight to the money transfer desk.

Request to withdraw a transfer from Remitly.

Step 2: The teller enquires about your ID card and suitability for transfer. Having confirmed ok, you will be issued a Remitly transfer form to complete.

Kindly complete the form accordingly with attention to details, having done that, return same to the teller.

Step 3: The teller receives and processes the transfer accordingly.

On successful completion, you will receive the exact amount sent by the sender in USD.

You are not getting paid in Naira anymore, so make preparations on how to sell or exchange your USD to (NGN) naira at a favorable rate.

Remitly tracking

This is the process of identifying your transaction status and destination, to further establish if it’s still available for pick-up or had been picked up.

Read also: How to track Remitly transfer in simple steps

How much can I send to Nigeria on Remitly?

How much you can send is very dynamic, depending on where the money is going.

Where you are sending from, and your prevailing sending limit.

Remitly limits how much you can send within the interval of 24-hour, 30 and 180 days respectively.

If you wish to send more than your current limit, it then stands that you will have to carry out a limit increase.

How to increase limit

Note, when applying for a limit increase you will be required to provide additional or further information about your transfer process.

You may increase your limit in the following arrangement;

Step 1: Either you go through the app or the website, this usually should be done 24-hour after signing up to the Remitly transfer platform.

Step 2: The remitly assign team will review your request and make necessary recommendation as to whether you get your limit increased or take a decision against that.

Step 3: Your sending limit can be increased on the app by following the below directive;

  • Open the Remitly app and sign in
  • Select the “My Remitly” as seen
  • Select “Increase limits.”
  • Select the sending tier as applicable
  • Upload requested information or document as will be advised
  • Then wait for an update. You will receive an email within 48-hour

Step 4: To increase your sending limit on the website, the below guide applies

  • Visit www.remitly.com , sign in as usual
  • Select the “Sending limit” tab
  • Choose preferred sending tier and apply
  • Wait for the update usually within 48-hour interval.

Kindly note that Remilty will always let you know if your receiver cannot receive certain thresholds you wish to send.

Assuming you want to send $10,000 USD to Nigeria, this may be your threshold, but Remitly will inform you while doing your transfer if your receiver cannot receive such funds in Nigeria.

Countries have varying thresholds a beneficiary can receive at a time.

Remitly contact: Kindly click here to contact the customer care support.

Conclusion

Kindly understand that you can only receive Remitly transfer in Nigeria at the moment, it’s not available for outbound transfers yet.

Additionally, as a sender you will need to pay attention to details as contained in the receiver’s ID card. Any omission of letters or disarrangement will lead to the receiver not being able to access the transfer until the receiver name is being corrected to reflect the ID card.

Which in itself could be time consuming.

To this end, the receiver should take a snapshot of his/her acceptable ID card for money transfer, send same via WhatsApp for name clarity.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Your Copy of PIVOT

Follow financengr on Twitter

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

%d bloggers like this: