How To Transfer Money To Nigeria From UK Instantly

Send money to Nigeria from UK in just 3 steps and at most cheapest means. Are you trying to transfer money to Nigeria from UK and you are experiencing some challenges? I almost gave up too when I lost my ATM card. So, I did the unthinkable. Transferring money from one country to another can be overwhelming. This is because you are not familiar with the processes involved. Each country has a unique method of transferring money. While some may be easy, others may not. In Nigeria, we have USSD codes, mobile apps, ATMs and chequebooks. As long as you have the recipient’s information ready, you can transfer money to them. However, it is a little more technical in the UK.

Reading this article will enable you to send money from UK to Nigeria without any hassle. It will also highlight the common challenges people encounter while transferring money from UK to Nigeria. You will also hack the cheapest ways to send money across, as well as their exchange rates/taxes.

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Send Money To Nigeria From UK Instantly.

Sending money from the UK to Nigeria is easy when you follow these steps.

1. Create an account with your choice bank: Struggling with your choice of bank? See the top 7 banks in the UK.  You can choose to do this in a physical or online bank. If your preferred choice is with an online bank, download their mobile app and sign up.
2. Top-up the Account: Go ahead to top the account with the amount you would like to transfer to the recipient. Make sure to leave a small amount for transfer charges.
3. Make The Transfer: Using Nigeria as your preferred destination for sending the money, add the receiver’s correct information and tap send.

Cheapest Money Transfer to Nigeria from UK

Here are the cheapest methods of sending money from the UK to Nigeria.

1. Online money transfer apps
2. Bank Transfer
3. Cash Pick-up and
4. Mobile Wallets.

Common Challenges With Money Transfer

If you are having difficulty transferring Money From the UK to Nigeria, Here’s why.

1. Incorrect Recipient Information: This is one of the most common challenges with transferring money. Incorrect details can lead to sending money to a different person. The account and routing numbers must be typed correctly to avoid embarrassing situations. Always make sure to double-check.
2. Exchange Rate: When sending money to someone who lives in another country, you may want to consider the exchange rates. Most people tend to ignore this part. The lesser the exchange rate, the less amount you pay while making transfers. Although, it may not be very significant, but it will affect your transfer especially when the amount you are transferring is high. Make sure to source the best exchange rate at different banking institutions.
3. Converting to the recipient’s Currency: It is important to always convert to the receiver’s currency first. This will enable you to know the exchange rate and the actual amount you are sending. Without converting to the receiver’s currency, the transaction may either fail or the money will be shortened.
4. Time-zone Variation: Sending Money across a different continent that has a different time zone can prove difficult. Some countries are several hours apart in time zone as Nigeria and to UK are one hour apart. You should keep in mind that the transaction may be delayed because of time-zone variance, especially in developing countries.
5. Weekend Delays/Holidays: Transactions may be delayed because you sent money over the weekend or during the holidays. In some cases, because of time-zone variation, the transaction would go over the weekend or the receiver’s country may be on holiday. It is important to confirm with your recipient the time or day that is convenient before sending money to them.
6. Fraud checking and prevention: Your transaction may be delayed because they are trying to monitor your account activities. This happens when you are transferring huge money to someone in a different country. they may suspect you of money laundering, theft or other fraudulent activities. In a situation like this, it is important to stay calm as no charge would be made if you are found innocent.

Other challenges include:

• Natural Disasters:  Although rare, but there are cases where the receiver experiences natural disasters in his or her country. Natural disasters like floods, hurricanes, Earthquakes, Tornadoes and the most recent being the COVID-19 pandemic. can affect the value of a country’s Currency. This is because the affected country is short-staffed and may compromise working arrangements. Natural disasters can equally depreciate the exchange rates.
• Technical Glitch from Service Provider:  Most times, the transaction is delayed because your bank server is used by too many people at a particular time. This can be experienced by either the sender or receiver.

FAQ