How to transfer money from Nigeria to UK
There is a deep connection between Nigeria and the United Kingdom, with the latter serving as a hub for many Nigerians seeking better lifestyle and job opportunities abroad. Sending money from the UK to Nigeria is quite easy since many banks in Nigeria easily accept inbound money transfer. The common money relationship between the two countries is when Nigerians send money back home from the UK. There are many Nigerians living and working in the UK who usually send money to their family members in Nigeria.Can you transfer money from Nigeria to the UK?Though the common relationship between Nigeria and UK is sending money from the UK to Nigeria, there is also the possibility of sending money from Nigeria to the UK. There are many reasons why one may need to send money from Nigeria to the UK. One of the common reasons is for sustenance of a family member who lives in the UK. Some Nigerians doing business in the UK also need to send money from their country to the UK in a bid to boost their business ventures. You may also want to send money to your children whoo are studying in the UK or pay their tution fees directly to the school account.
However, unlike receiving money in Nigeria from the UK, sending money from the country is somehow limited and Nigerians only have a few options when they want to send money to the UK. All these options will be discussed to make people aware of the best option they have when sending money from Nigeria to the UK.
Money transfer options from Nigeria to the UK .According to the laws of the country, the Central Bank of Nigeria has licensed only two international money transfer services. The two are Western Union and MoneyGram. However, there are other options apart from the two. We will mention all the possible ways of transferring money from Nigeria to the UK.
- Western Union
Western Union is perhaps one of the most popular ways of transferring money from Nigeria to UK. Western Union offers a safe and faster way of sending money to the UK from Nigeria. There are many Western Union outlets in Nigeria that you can use to transfer money to UK. There are also banks that have signed up for outbound money transfer and therefore the options are widened. To send money through Western Union, you will need to provide your identification, the receiver location & bank details, and the cash you want to send.
- MoneyGram International Money Transfer
MoneyGram is also an option that you can use to transfer money from Nigeria to the UK. You can use any of the MoneyGram outlets or the partnering banks to transfer money to the UK. The transfer is swift and secure.
Nigeria’s money transfer business landscape entered a new phase yesterday as Africa’s global bank, the United Bank for Africa (UBA) Plc and global Money Transfer giant, MoneyGram launched outbound money transfers in Nigeria. The newly launched MoneyGram outbound money transfer service allows Nigerians to send money abroad through any UBA branch in Nigeria or Africa while the funds are received in dollar or the currency of the receiving country. With this service, Nigerians can now send money to countries like UK and USA from Nigeria. The Nigerian will send money in Naira, the person receiving in UK or USA; will receive it in pounds or dollars. The outbound money transfer service allows Nigerians to send money in Naira to over 200 countries around the world by simply working into any UBA branch in Nigeria or in the 18 other African countries where UBA has operations outside Nigeria or through any other MoneyGram Agent Bank.
- Domiciliary account
You can also open a domiciliary account with a bank that offers these services. With a domiciliary account, you can easily transfer money to UK or any other country. The good thing is that you save your money in your preferred currency.
- PayPal Money Transfer
PayPal is an online money transfer service that allows people to send and receive money from any part of the world. With a PayPal account, you can conveniently send money to the UK from Nigeria without much scrutiny. The process is quite fast.
These are the best options for sending money from Nigeria to the UK.