Why is TransferWise not sending money to Nigeria?

LAGOS, Dec 17 (Reuters) – Money transfer firm Transferwise said on Thursday it will no longer send remittances to Nigeria after new rules in the West African country changed the currency of payment to the U.S. dollar from naira.

Can TransferWise send money to Nigeria?

With Transferwise, you can send money to Nigeria and the receiver will get the money fast and directly into his or her bank account. No need to go anywhere!

Why can’t I send money to Nigeria through TransferWise?

The UK international money transfer company, Transferwise, has stopped offering money transfer services to Nigeria. … The Central Bank of Nigeria has suspended international money transfers to mobile wallets in Nigeria. This is because of a new regulation that only allows US dollar payout for remittances in the country.

Why is it so hard to send money to Nigeria?

Sending money to Nigeria from USA or from any other country is often a big help for your relatives and your friends living there. But it can be hard as well because of the strict money transfer regulations because of the anti money laundering rules.

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What is the best app to send money to Nigeria?

TalkRemit is the fast secure and low-cost online money transfer service for sending money to Nigeria. Our trusted global remittance platform and online money transfer app is the most convenient way to transfer money to Nigeria. It’s safe, reliable and hassle-free.

How can I send money from USA to Nigeria bank account?

Send money from your bank account to another bank account in Nigeria using these steps:

  1. Find the wire transfer section from the website of your financial institution.
  2. Check any transfer limits there might be.
  3. Enter the recipient’s bank details.
  4. Enter the amount and choose the currency you want to send your money.

Can I use TransferWise debit card in Nigeria?

Thanks to the partnership with Flutterwave, TransferWise customers in the UK and around the world can now use their debit cards, or online banking on the TransferWise website and mobile app to send money to family and friends with verified bank accounts in Nigeria. …

How much money can I send with TransferWise?

To give a picture, Wise has an upper limit of $1 million per transfer if you’re sending money from a different country to the US. However, the limits for sending money out of the US will vary a little depending on how you pay for your transfer, and which state you’re based in.

Has Western Union been banned in Nigeria?

On Aug. 2, Nigeria’s Central Bank issued a new directive (pdf) limiting the operations of money transfer operators (MTO) in the country. … As a result, only three MTOs—Western Union, MoneyGram and Ria—were left free to operate in the country.

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Can I use Zelle in Nigeria?

No, Zelle is available only in the US. The company allows sending money from one US bank account to another. Both the sender and the recipient must have US bank accounts. But you can always use Monito to find the cheapest option to send money abroad from the US.

Can I use WorldRemit in Nigeria?

Yes, you can still send money to Nigeria using WorldRemit. The latest directive from the Central Bank of Nigeria has led to some changes to the services we offer. The ‘Send Money’ page on our website will be updated with the latest options available to you that includes cash pickup, bank transfer and airtime top-up.

Which app can I use to send money from USA to Nigeria?

You can make a money transfer to Nigeria from the USA with the WorldRemit website using any device. You can also download our free WorldRemit app for Android and iOS to send money from wherever you are in the USA, 24 hours a day.

Which is better TransferWise or Azimo?

TransferWise scores better for individuals compared to Azimo as they offer more than just basic international money transfers. TransferWise offers solutions to send, receive and spend internationally. What Azimo offers that TransferWise doesn’t is a cash pick up service.

How do I transfer money to a Nigerian bank account?

You can send money to a Nigerian bank account in three simple steps.

  1. Select the type of service you want. You can choose a money transfer to the recipient’s bank account, or an airtime top up. …
  2. Tell us where you want the money to go. …
  3. Tell us whether you want to pay with your debit card or ACH, and provide the details.
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