Many transactions abroad require you to receive money from there to your bank account in Nigeria and these transactions may be with your friends and family and with merchant websites and organisations. Receiving money from abroad to your Nigerian bank account is possible today and there are many options you can choose from. This article will show you how you can do that effectively and use the available options.
Options To Receive Money From Abroad To Nigeria
1) Western Union Money Transfer
This is one of the options available for Nigerians and many banks in Nigeria make use of Western Union. Western Union is also operational in many countries and this include many African countries. You will need some items and details to utilize Western Union and these items and details are below:
- Means of identification that is acceptable.
- Your international passport.
- Your Money Transfer Control Number (MTCN) and the National Identity Card and this include the Driver’s License and the Permanent Voters Card.
- Amount you are expecting
- Address, phone number and the name of the receiver.
- Country and the name of the sender (you may include cities for Mexico and the US).
- Maximum amount you are sending and this is from the Central Bank of Nigeria and for each sender the $5000 naira equivalent applies.
- Test answer and questions are applicable sometimes
After you do this, then you can request to receive the money to your Nigerian bank account and this method applies to the rest of the Nigerian banks.
Moneygram let’s you receive money into Nigeria from any region of the planet including Nigeria and these steps below will tell you how to do that.
- a) First you locate the Moneygram agent and this should be the nearest to you and you can get them in many Nigerian banks.
- b) Ensure that you are going there with the relevant information and the information you need are:
- i) Number of the Transfer Reference and this is usually an eight digit reference number.
- ii) Means of identification that is valid.
iii) First and last name of the receiver
- iv) Amount in expectation
- v) Name and country of sender and city is included for US transfers.
- vi) Test answers and questions are sometimes applicable
You now complete the Receive form with the above information and this form depends on the bank. Handover the form, photo ID that is valid and the fee of transfer and the person for you to handover is the agent.
3) Bank Wire Transfer
This option makes use of the domiciliary account and many banks let’s you open this account and the following information below are necessary:
- a) Name of bank
- b) Number of account
- c) Name of account
- d) Branch address of the bank
- e) The swift code
- f) The routing number
Send these details to the sender and your bank will process the payment.
This option is available for Nigerians and it is often in use for most merchant sites. If you are doing jobs for people abroad, you can use it and to do this, sign up in their website and enter the details to the merchant you are receiving from.