How to Send Money to Nigeria From the UK

Sending money from the United Kingdom to Nigeria is a common financial activity. Navigating the various methods and requirements for these international transfers involves understanding service offerings, preparing documentation, and following procedural steps. This guide provides insights into facilitating money transfers from the UK to Nigeria.

Choosing Your Money Transfer Service

Selecting the appropriate money transfer service involves comparing several factors to find a provider that aligns with your priorities, whether that is speed, cost, or convenience. Traditional banks offer international wire transfers, which can be a secure option. However, these transfers often come with higher fees, potentially less favorable exchange rates, and longer processing times, sometimes taking 3 to 5 business days for funds to clear. Banks may charge fees ranging from £10 to £25 for these services.

Online money transfer platforms like Wise, Remitly, WorldRemit, and TransferGo offer competitive rates and faster delivery. These platforms display exchange rates and fees upfront, providing transparency. Wise uses the mid-market rate, with transfers often arriving in seconds. Remitly offers quick transfers, sometimes within minutes, with flat fees around £0.99. While some services promote zero-fee transfers, scrutinize the exchange rate, as profit may be incorporated there.

Cash pickup services, like Western Union and MoneyGram, facilitate in-person transactions. These are useful if either party lacks a bank account. While convenient, cash transfers can be more costly; for example, Western Union may charge around £14.90 for a transfer up to £5,000. Transfer limits vary, with Western Union having a maximum of £5,000 and MoneyGram around £8,000. Specialized apps often provide real-time exchange rates and allow tracking.

When evaluating services, consider several factors:
The exchange rate, impacting the final amount received.
Fees, whether fixed or percentage-based, including any hidden costs.
Transfer speed, which varies from instant delivery to several business days.
Transfer limits, defining minimum and maximum amounts per transaction or period.
Security measures, as reputable services employ encryption, two-factor authentication, and are regulated by financial authorities.
Customer support availability for inquiries or issues.

Gathering Required Information and Documents

Before initiating any money transfer, both the sender in the UK and the recipient in Nigeria need specific information and documents ready. This preparation helps ensure a smooth transaction and avoids delays.

For the sender in the UK, identification is required. Acceptable forms of ID include a valid passport or a UK driving license. Proof of address, like recent utility bills or bank statements, is also requested. For larger transfers, providers may ask for proof of the source of funds to comply with anti-money laundering regulations, such as bank statements or payslips. The sender must also have details of their chosen payment method, like bank account details (sort code and account number) or debit/credit card details.

The recipient in Nigeria also needs to provide specific details. Their full legal name, as it appears on official identification, is necessary. An up-to-date address and phone number are also standard requirements.

If the transfer is a direct bank deposit, the recipient’s bank account details are essential, including the bank name, account number, and their Nigerian Uniform Bank Account Number (NUBAN). A NUBAN is a 10-digit standardized code used to identify bank accounts within Nigeria. For cash pickup, the recipient needs to present a valid identification (e.g., Nigerian National ID, passport, or driver’s license) that matches the name provided by the sender.

Initiating the Transfer Process

Once a money transfer service is selected and information gathered, the next step is initiating the transfer. The specific actions depend on the chosen method: online platform, in-person service, or direct bank transfer. Each method follows a distinct procedural flow.

For online platforms, log in or create an account. Select countries, enter the amount, and choose a payment method. Input sender and recipient details, including names, addresses, and bank account or cash pickup information. Review the transaction summary (exchange rate and fees), then confirm payment. A transaction ID or reference number is generated for tracking.

When using in-person services, like agents for cash pickup, visit a designated agent location. Present identification and complete a transfer form, entering recipient details and the amount. After cash payment, receive a receipt with a tracking number (e.g., MTCN for Western Union). This number is crucial for monitoring the transfer.

For international bank transfers, complete the process via online banking or by visiting a branch. Provide the recipient’s bank details: bank name, account number, and the Nigerian bank’s SWIFT/BIC code. While SWIFT/BIC codes are standard, the Nigerian NUBAN is the domestic account identifier. The bank processes the transfer, and the sender receives a confirmation or reference number for tracking. Many platforms allow real-time tracking.

Recipient Collection and Confirmation

After a money transfer is initiated from the UK, the focus shifts to the recipient in Nigeria and how they access funds. The collection method depends on the service chosen by the sender. Understanding these steps helps ensure smooth receipt.

For bank transfers, money is credited directly to the recipient’s Nigerian bank account. Many Nigerian banks send an SMS notification upon arrival. This is often the most straightforward method, as it does not require a physical visit. For example, WorldRemit indicates 90% of transfers arrive within minutes.

For cash pickup, the recipient must go to a designated agent location in Nigeria (e.g., bank branch or authorized outlet). They must present a valid identification matching the sender’s provided name. They also need the unique transaction reference number (e.g., MTCN for Western Union). Note that agents may have specific operating hours, and collections might not be available on public holidays or weekends.

For transfers to mobile wallets or apps, money appears directly in the recipient’s digital wallet. Funds can be accessed via mobile device for transactions or withdrawal to a linked bank account. The recipient receives an in-app notification or SMS confirming the deposit.

Confirmation of successful delivery is important for both sender and recipient. Senders typically receive an email or in-app notification confirming delivery or collection. Many services offer real-time tracking.

Recipients can verify receipt by checking their bank account, mobile wallet, or collecting cash. If money doesn’t arrive as expected, check the tracking status. If issues persist, contact customer service.