Are you wondering about the channels to use to send money to your friends, family, and even business partners in Nigeria from India? There are article various options that will be addressed in this article to acquaint you on how to safely and easily send money abroad to your loved ones. So, read on to discover how you can send money from India to Nigeria.
These are some ways to send money to Nigeria from India:
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Western Union Online
Western Union has been in the business of sending money across the globe for almost 150 years. So, you can send money to Nigeria using the Western Union online mobile app, with little hassle. But before you can make an international money transfer from India using Western Union, you must first have to create a free account by visiting wu.com, which is the website. The next process is the verification which can be done online or by visiting any Yes Bank Branch in India. If you opt for online verification (e-KYC), you would be required to provide your Aadhaar card number and the verification instant. If your chosen option is visiting a Yes Bank branch in proximity to your location, it takes 1-2 days to verify. A PAN card of any Yes Bank, passport, voters identity card, driver’s license, and Aadhaar card number are needed for physical verification exercise.
Now that you have verified your profile on Western Union, you can send money to Nigeria if you follow these simple steps. You have to log into your profile. Then select Nigeria as the destination country you wish to send funds to. Next, select sending method you wish to use for the transaction. You are expected to add the details of your recipient such as name, address, and country, in the next stage. The subsequent step would entail that you select the payout method for your recipient. You would have to review the details that you’ve provided and make amends if any. Paying for the transaction is the final step of the process. It takes 72 hours for the cash to be deposited in the recipient’s account number.
For bank account transfers to the recipient in Nigeria, you are expected to provide the full name of the recipient, bank account, bank name and bank routing number (Swift/BIC). The type of local bank accounts eligible to receive money from Western Union is domiciliary bank accounts.
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Wise
Wise is a prominent international money transfer service provider with over 12 million customers that have sent money from one part of the globe to another. You have to create a free account on the Wise platform. Click on the ‘Sign Up’ and provide your email address, and Google or Facebook accounts. This can be done either using the Wise mobile app or the website – in a matter of minutes. The next step is to set up your transfer to your recipient. The Wise currency calculator lets you know how much it is you want to send, the destination country, the exchange rate between the two currencies (i.e., Indian Rupees and Nigerian Naira), and the expected delivery time of the transfer.
The next phase of the transfer process requires that you provide some information about yourself such as full name, birthday, phone number, address, and the transaction is personal or business. Similarly, you would be required to provide information on your recipient. Your recipient’s full name, bank name and account number, and if the purpose of the transfer is a charity or for business. After you might have provided all the information required of you, and have reviewed it to make sure all is good, you click on ‘Confirm’ to pay for your transfer using the debit or credit card, or from your online banking. Any of the payment methods you select require steps that are easy to understand and follow. The expected time for the transfer to be deposited into your recipient’s account may take seconds to 48 hours.
The Financial Conduct Authority (FCA) of the United Kingdom regulates the duties of Wise thereby ensuring the safety of your funds and personal information against unscrupulous elements.
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Moneycorp
You can also send money from India to Nigeria through this channel. For over 40 years, Moneycorp has been helping its users send money across the globe with competitive exchange rates and low transfer fees. To use this international money transfer service of Moneycorp, an account must be created. Using the Moneycorp mobile application or the website, click on ‘Sign up’ whereon you are required to provide your email address, first name, last name and country of residence.
After you’ve set up the account, the next step is to fund your Moneycorp wallet which enables you to send money anywhere in the globe and at any time. Money can be transferred into the Moneycorp wallet using any of the accepted payment methods. The payment options that you could use to fund your Moneycorp account include a debit card via an online platform, a wire transfer from your bank, and a cheque. Once receipt of funds has been confirmed in your Moneycorp account, you can perform international transfers on a whim.
With the confirmation of funds in your Moneycorp account, you can go ahead with transfers to any part of the world. After you might have logged into your account, navigate to the ‘Recipient’ icon and click to enable you ‘Add new recipient’ by providing essential information about the recipient. You are to provide the full name of the recipient, address, and account details before you save the recipient’s profile.
With success in the creation of a recipient profile, you have to click on ‘Send a Payment’ to allow you to send funds to your recipient. It would take typically 2-3 working days for the funds to be deposited into your recipient’s bank account in Nigeria.
With Moneycorp, you could also send money over the phone by speaking with a currency specialist with the company to assist you in making a payment, as long as your wallet is funded.