Nigeria accounts for a third of migrant remittances flows to Sub-Saharan Africa, with over $110 billion in the past five years. The fundamental benefit of remittances to recipient households is the improvement in their general welfare as they can meet basic needs, fund cash and non-cash investments, finance education, foster new businesses, and essentially drive economic growth. There exist several formal channels such as wire transfer and electronic money transfer that can be employed to send money to Nigeria from anywhere in the world. This article addresses ways of sending money from Argentina to Nigeria.
This is a list of various means to send money from Argentina to Nigeria:
Azimo is a super easy method of sending money to Nigeria from Argentina. The first step of the process is to create an account with Azimo – this can be completed in minutes. Upon successful creation of an Azimo account, the process involved is simple and swift as the entire transfer setup could happen in a couple of minutes. After logging into the Azimo portal either with the use of the webpage or the app, the subsequent step is to set up the transfer. To set up the transfer, Nigeria is selected as the country that the money is to be sent to, then the amount to be sent is provided, as well as the details of the recipient. After providing this information, the method of delivery is to be selected from the following options Cash pickup, Bank Transfer or SWIFT. To finalize the transfer, the payment is made either with a credit or debit card or through a financial banking institution in Argentina. The entire process is protected by anti-fraud encryption technology that assures the security of funds and personal information.
If the Cash pickup option is selected as the delivery method, the recipient is required to use a recognized means of identification which may include any of the following National ID, Bank Verification Number (BVN), Passport, or Driver’s License. Also, a Pickup reference which would be sent to both the sender and the recipient is needed to collect the money from any branch of Fidelity Bank or First City Monument Bank (FCMB) in Nigeria. The Bank Transfer requires the recipient to own a USD or EUR domiciled Nigerian bank account. The fees are subject to the amount of money to be sent and the type of payment utilized. Transfers done with debit cards or credit cards are instantaneous.
With WorldRemit, sending money from Argentina to Nigeria is fast and simple. There are several options to send money, either through Cash Pickup, Bank Transfer, Mobile Money, and Airtime Top-up. However, to perform any sort of transaction, a free WorldRemit account must be created by the sender. The Cash pickup option refers to a payment that can be collected by a recipient as physical cash from any supported location within the WorldRemit’s local partner network. The first step is to log in to the WorldRemit portal, then launch a new transfer setup. Then, Nigeria is selected as the country that the money is to be sent. Thereafter, USD Cash Pickup is selected as the pay-out method, and the recipient’s details are subsequently provided. The recipient’s full name, address, mobile number, and sending reason are to be provided by the sender before finalizing the payment. Payment can be made either from a bank account, credit, or debit card. Within minutes, the recipient in Nigeria can visit any of these financial institutions to receive the money: Access Bank, FCMB, Fidelity Bank, First Bank, Polaris Bank, Guarantee Trust Company (GTCO), Union Bank, and UBA. The recipient is expected to go along with either an international passport, Bank Verification Number (BVN), Driver’s license, or Permanent Voters Card (PVC) as means of identification.
The alternative option of making a direct bank transfer using WorldRemit is summarily addressed in the simple steps below. The sender begins the transfer set up by logging into the WorldRemit portal, using the webpage or mobile app. With the confirmation of cleared funds available in the sender’s account, the next step is to input the details of the recipient, that is, name, address, mobile number, and the bank details of the recipient. It is important to note that only USD domiciled Nigerian bank accounts are eligible to receive funds from Argentina via WorldRemit.
Western Union is another channel to send money from Argentina to Nigeria, and this can be done online with a smartphone or computer, or in person at any agent location of Western Union in Argentina. Sending money via the Western Union mobile app, or online is fast and easy. To do this, the first step is to create an account with Western Union and verify the profile using a Driver’s license, passport, or government-issued identification. Thereafter, the sender would need to choose the amount to be sent and how the recipient would get the money, either by bank account, cash pickup at Western Union agent location, or mobile wallet. The next step of the process is entering the recipient’s details. A bank account of the recipient and name is required for the Western Union bank deposit option, whereas, the recipient’s name and address would be required for a cash pickup. Then, the desired payment method from the options of bank account, credit card, or debit card, is selected by the sender. The final step to complete the procedure is to confirm and send the money. After sending, a unique MTCN can be used to track the transfer. It is pertinent to state that the processing fee varies according to the amount sent, method of payment, and delivery option selected.
As several Western Union agent locations exist across Argentina, one could also send money to loved ones in Nigeria from any of the numerous agent locations. With valid means of identification and funds in the sender’s bank account, credit or debit cards, the process requires that necessary information on the recipient’s details and bank details are provided at the Western Union agent location. After review and confirmation of the details provided, the sender completes the process with payment either using a debit card, credit card, or through a checking account.