Transferwise money transfer- The cheapest and fastest way to send money to Nigeria
Transferwise money transfer, is a leading brand in the money transfer industry that ultimately bridged the gap in high cost associated with sending money to Nigeria and other countries at large.
Be that as it is, its major objective into the business is centered on creating affordable but less expensive charges on transfers mainly on the sender.
Transferwise ensures that your recipients in Nigeria, Europe, America other continents/countries are being paid at mid-market exchange rate, without any form of hidden charges around the exchange rate.
Wao, that’s interesting…
Haven’t heard about this TransferWise, tell me more please
TransferWise is a money transfer platform based in London, according to Business insider, it’s worth nearly $1 billion considered a huge milestone for any tech startup especially in Europe.
It helps people transfer money between countries and currencies for a lower cost, than that of a standard bank transfer.
This company was founded by Kristo Kaarmann and Taavet Hinrikus.
The Idea to build this company arose when the two aforementioned business men found mutual benefits in their quest to move money from Estonia to Uk, and viz versa. They both realized they could cut down on money transfer cost, by helping each other from the both ends.
They simply minimized the distance money has to travel by using domestic accounts. Instead of sending money out, the other will pay for another’s money need in his own country of residence, viz versa. Thus cutting down on transfer charges.
In 2010, having realized how much they’ve saved with this method, they decided to set up a company to enhance this ability to residence of many other countries.
How to send money to Nigeria via Transferwise (in 6 simple steps)
1) Create your free Transferwise account: Visit www.transferwise.com, click on sign up, then create your free account. You will need an email address or Google account or Facbook account
2) Set up your first transfer: Use the calculator on the website to determine how much you much money you want to send, and where you want to send the money. Fees will be displayed upfront.
3) Tell a little about yourself: You will be asked, if you’re sending money as an individual or business. You will also be required to provide your full name, date of birth, phone number and address.
4) Tell who you’re sending the money to: Yourself, Someone else, A business or charity? Pick your answer accordingly. You will be asked to provide basic information about your recipient which include, their bank details, they need a bank account to receive this money.
5) Review your transfer: You’ll be shown a summary of your transfer, if everything looks good, click confirm, you can as well effect changes should anything be wrong, before you click the confirm button.
6) Pay for your transfer: This is the final step of this transaction, you will be asked how you wish to make your payment. Through debit card, credit card, just make your choice and you’ll be shown how to go about it. Each payment method has its own steps which only take a few minutes.
FAQ on transferwise Money transfer
How much does it cost to transfer money to Nigeria?
To send money in GBP to Nigeria, you pay a small but flat fee of 0.46 GBP +0.53% of the amount that’s converted (you will always see the total cost upfront)
How long will a transfer take?
On many popular routes, Transferwise can send your money within one day, sometimes within seconds.
However, different payment methods and routine checks may affect the transfer delivery time, you will always be kept updated you can as well track each step in your account.
Send money to Nigeria from U.S
The United States is the home of money transfer with industry leading franchise and platforms like Western Union, Moneygram, Ria, Small world etc.
You can as well send money to Nigeria with the transferwise, this process is reliable, cheap, fast and highly secured.
Just create an account as seen above if you’re in the U.S and select Nigeria as your destination with your recipient’s Nigerian bank account number. They do not need have a transferwise account before they can receive funds.
Your recipient is paid at mid-market rate, no hidden charges nor any extra cost to you.
Send money to Nigeria Western Union
To learn how to send money to Nigeria with western union, read my article “Western Union online, how to send money through western union.”
Send money to Nigeria with Paypal
Paypal is an online money transfer platform that allows you to make payments online as well receive payments. You can use this platform to send transfer funds. Read my article “Paypal Money Transfer.”
Send money to Nigeria Moneygram
Moneygram like you know is a leading money transfer company, with a record presence across many countries and continents. Read my article “Money transfer from abroad in 10 minutes.”
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