Best Ways To Send & Receive Money In Nigeria From Abroad

Are you planning to send or receive money from UK or USA and you’re interested in knowing the best ways of sending and receiving money in Nigeria from abroad? Then this article is for you.


With the current advancement in technology, sending money and receiving it shouldn’t be an issue. However, because of the bad name Nigerian fraudsters have given the country, not all money transfer businesses are open to Nigeria.

Some might be open for sending but you are restricted when it comes to receiving. One of the example of this is PayPal which allow you to send money abroad but you are not allowed as a person living in Nigeria to receive money.

However, there are other ways that money can be sent and received here in Nigeria.

Before discussing the best ways to perform international money transfer, you need to understand to understand the fees attached to the service, the speed in terms of time transfer is executed and lastly, the exchange rate. This is because each money transfer agent differs in the way they do their thing.

For example, while you are able to send money via PayPal and the recipient can get it in minutes, this can be said to be true if you’re using bank transfer that need at least 48 – 72 hours to complete the transaction.

So, as you plan using either of the methods discussed below, take note of the three things mentioned above. Below are the surest ways you can send or receive money in Nigeria from abroad


Domiciliary account are the types of account that allow you to hold money in currencies other than the Nigerian Naira. The account you have with your bank is a Naira account and can only receive it in this currency.

If you plan saving money in other currencies, this is the account you would use. With this type of account, you can receive and send the United States Dollar. This is something you cannot do with your normal account.

Before you can make a transfer using this method, you need to have a domiciliary account (dorm account). You can open this type of account with most commercial banks in Nigeria.

Each bank might have its different requirement before you can open this type of account with them. Generally, they require a valid means of identification, your Bank Verification Number (BVN), two references, passport photograph and recent utility bills.

To send money using a Domiciliary account, you need to provide the recipient’s account details which includes the account name and number, bank name and branch, swift code, routing number and the amount to be transferred.

You need to note here that banks differ in terms of exchange rate policy and that may affect the amount you intent to transfer.

After doing the above, the recipient should get a confirmatory text of a successful credit of his/her account with 48 – 72 hours.


Regardless of the country you intend to send money to or want to receive money from, the Western Union money transfer got you covered.

With over 5,000 Western Union outlet spread across you the country, sending and receiving money is no longer hard.

Western Union is a reliable and secured money transfer agent in the world. Using this means you’re using a tested and trusted solution to international money transfer.

Unlike banks that don’t have this as their primary focus, the Western Union money transfer has international money transfer as a key focus.

The popularity of this money transfer agent cannot be over emphasized. You must have seen their logo on a bank sign post.

To send money using Western Union, you need to create an account online, choose a favorable money transfer service, enter the receiver and the payment information as required and then confirm identity and money transfer details. It is that easy.

To receive money, this can be done in 3 ways. The most common way is to receive the money as cash.

To do this, you need to visit an agent usually Banks with your means of identification and the tracking number (MTCN) provided to you by the sender. If the information provided is confirmed by the agent, you get paid.

You can also receive Western Union money transfer on your prepaid card or directly into your Nigerian bank account.


One of the easiest ways to send and receive money in Nigeria from abroad is by using the MoneyGram Money Transfer service. This money transfer service provider is also trusted worldwide.

With more than 350,000 agent locations worldwide, sending and receiving money should not be an issue.

They offer a secured and secured transfer service and their agents can be found in major urban centres in the country. Just like Western Union, Banks also serve as agents to MoneyGram.

To send money using MoneyGram Money Transfer, you need to go to their nearest agent to you whom will give you a form to fill. After doing that, you will give the form to the agent together with the amount you intend to transfer and it transfer fee.

The agent is then expected to make the transfer and issue you with a receipt and a reference number of the transaction. The reference number is what you would give to the recipient so he/she can claim the money.


PayPal is one of the easiest way to send and receive money international. Unfortunately, there are restriction regarding it use if you live in Nigeria.

As I stated in the beginning of this article, on PayPal, as a Nigerian, you can only send money. You are not allowed to receive due to the ban imposed by the PayPal company on people living in Nigeria.

However, this can come handy if you intend to send money to someone abroad. To make use of the PayPal money transfer, you need to open an account with PayPal and link your ATM Card with your PayPal account.

Please note that you can only send money to someone that also has an account with PayPal.


Aside the money Transfer services listed above, others that are reliable also exist. Some of these includes Payoneer, Skrill, Netelle, etc.


In conclusion, I wish to draw your attention to what I stated in the beginning of the article.

Each of the easy ways you can send and receive money in Nigeria from abroad has it policy regarding transfer fee, speed of transfer and its exchange rate.

So, it is important to check this and make sure it is right for you before you use it because depending on your need, one might be better than the other.

join us on telegram join our whatsapp channel

Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

You may also like...

Leave a Reply