Millions of Nigerian migrants all over the world send remittances back home to friends, family and loved ones using a variety of channels. However, bank wire transfers and electronic money transfer services are mostly used, with the latter growing in popularity due to its ease of use, low fees and swiftness of transactions. For Nigerian migrants and other nationals seeking to send money from Greece to Nigeria, options abound that offer affordable rates and swift service delivery. In this article, how to send money from Greece to Nigeria will be addressed.
These are some ways to send money from Greece to Nigeria:
With an EU Electronic Money Institution (EMI) license, Rewire is a fast-growing digital banking platform operating in 21 countries around Europe that employs innovative technology tailored towards providing migrants with easy means of needs of sending money home. The first step is to sign up to Rewire using the mobile app or website. These are the required information to complete registration on Rewire: full name, phone number, email address, residential address, and identification means. As a strategy for verification of customers, Rewire requires any of the following means of identification, Citizenship or Residence Card, EU-used card, International Passport, or Driver’s license. Also, a selfie of the face of the customer is required during registration. After completion of the registration process, Rewire provides the customer with IBAN to enable him/her to perform transactions on the platform. Normally, the IBAN takes 2 business days.
To send money, the customer needs to own a free debit card from Rewire. The Rewire debit card can also be used for other online and offline transactions and ATM withdrawals. It takes 2 to 3 weeks for the debit card to get to the customer, and just €4.95 is charged for the delivery of the card. However, one can still perform transactions using the Online Rewire card before the Rewire debit card is ready. The Online Rewire Card can be ordered from the Account section of the Rewire Portal. The customer would need to pay €4.95 upon activation of the online card.
So, to send money to Nigeria, the customer has to Load Money into his/her Rewire Account. After logging into the app, on the Home tab, the customer should click on Account and then click on + Add Money. The amount to load is then selected and a deposit method is selected from the options of Bank Transfer, SEPA Transfer, or Debit/Credit Card. It is noteworthy to know that the Bank Transfer option is not available for customers in Greece. To Load Money from Debit/Credit option is immediate while SEPA Bank Transfer takes about 2 business days for the Rewire Account to be credited. Upon successful loading of the desired amount onto the Rewire Account, one can send money to Nigeria from Greece in simple steps. After logging into the Rewire app, the customer should click on Pay, and then provide the details of the recipient such as name, address, mobile number and bank details, of which must be a domiciliary account, that is, if the sender wants to send directly into the recipient’s account. The recognized banks in Nigeria that receive funds from Rewire are Guaranty Trust Company (GTCO), Fidelity Bank and First City Monument Bank(FCMB). For the Cash Pickup option, any of the GTCO or Fidelity Bank branches can be visited by the recipient with valid means of identification to receive the money.
WorldRemit is a company founded by Ismail Ahmed, a migrant in the United Kingdom who experienced firsthand the difficulty of sending remittances back home. So, WorldRemit is an innovative and forward-thinking digital money transfer service company that solves the difficulty of sending money home. Migrants in Greece seeking to send money to Nigeria can make use of WorldRemit’s services. The preliminary step is creating an account with WorldRemit. To do this, certain documents and information are required. Types of documents accepted for verification are those not more than 6 months old, with the name and date of birth of the customer on display. They include current signed passport, current European-issued driver’s license, or current European residence permit. For verification of the address of the customer, certain utility bills such as council rates bill, landline telephone bill, internet bill, water bill, gas bill, or mobile telephone bill is required during the registration process.
After successful registration, it takes simple steps for money to be sent to Nigeria from Greece. First, the sender has to log in to his/her WorldRemit portal and navigate to the section for sending money. Subsequently, the required details of the customer are provided. For the Cash Pickup option of delivering the money, the required information includes the name of the customer, mobile number and address, whereas for the bank deposit option, the account details, that is, name of bank and account number are required. Thereafter, the amount to be sent is inputted and the desired payment option of the customer is used to complete the transaction. The final step shows the exchange rates between the Euro and Naira, the fee charged by WorlRemit for the transaction and the expected amount in Naira, then payment can be made. It is important to note that there are certain limits transactions which include: Euro 8,000 maximum amount per day, and Euro 8,000 maximum amount per transaction.
For Cash pickups, recipients in Nigeria can visit the following Nigerian bank branches with valid means of identification to collect the money: Fidelity Bank, First Bank, Access Bank, Polaris Bank, Guaranty Trust Company (GTCO), and United Bank for Africa. It takes on average 3 minutes after transfer for the recipient to be able to collect the money in Nigeria. However, for bank deposit delivery method, the recipient is required to own a USD domiciliary account with any of the following Nigerian banks: Access Bank, Ecoboank, First City Monument Bank (FCMB), First Bank, Polaris Bank, United Bank for Africa, Zenith Bank and Guaranty Trust Company (GTCO).