Do you want to know how to get UBA Africard in Nigeria, activate and load it? If yes, I will provide you with the step-by-step guide on how you can get it and use if for online transaction.
PS: I’m writing this from my own personal experience. I mean, how I got my own UBA Africard in Nigeria within 3 hours! Few months ago, I was confused on how really to get the card because I have never heard about a special card apart from the famous “MasterCard”, “VISA card” and “Verve”. All these cards are limited to some function and can’t really be used broadly as the Prepaid VISA card issued by UBA.
Now, let go to the main topic:
What is UBA Prepaid Card or Africard in Nigeria
Africard is a prepaid card issued by the United Bank for Africa, UBA.
If you’re familiar with using the like of Mastercards for online transaction, then there’s no need to get long definition for the UBA Africard.
But I must tell you that it’s originally a “VISA card”.
The only difference between other VISA card and UBA Africard in Nigeria is that, it’s PREPAID!
Just like when you’re using a prepaid meter in your house. If you load the meter, you’ll have electricity power in your house. But if you refused to load it, there’s no way you can see the blink of electricity even if the whole town are enjoying it.
Same thing applied to the UBA Africard, It’s a prepaid card that is useful only when you load funds (money) on it.
UBA Group said:
The Prepaid Card (Africard) is not in any way linked to your regular bank account with any financial institution in Nigeria. That gives you the ability to do and undo with the card. Meaning, you spend what you load.
As simple like that but powerful….
Getting your UBA Africard in Nigeria is so easily but many entrepreneurs outside there don’t know what the card is used for, while some entrepreneurs know how to use it but don’t know how and where to get it.
I don’t know which category you fell into but this blog post will hold your hands from starting till using the card. But you may want to know:
The Benefits of UBA Africard (Prepaid Card) in Nigeria
I will mention few but most important benefits that may interest you. They are:
- You can use buy anything from any online shopping sites in the world without any headache
- You can have UBA Africard in Nigeria without having a bank account with UBA at all
- The card is not linked to any of your accounts
- You can use it to verify PayPal account in Nigeria and enable the most core feature of using PayPal
- You can get it immediately or few minutes after you request for it
- According to UBA, the Africard or UBA prepaid card can be used at over 30 million retail outlets across the globe
- Can be used conveniently with the UBA mobile banking
- UBA Africard or Prepaid card is secured
- You can manage your card yourself
- And so on…….
Now, you may asking what you needed to get the card. Here are they:
Requirement to Get UBA Africard in Nigeria
Just like I got my own, here are the prerequisites:
- A passport photograph
- A utility bill (e.g NEPA bill)
- Means of Identification like National ID card, Driving licence and any government issued document
- Your Bank Verification Number, BVN
- Some funds to load (but not compulsory to load immediately)
Those are the few stuffs you need to get together and boldly apply for the UBA Africard or Prepaid Card in Nigeria.
Now let talk about how to put these into use:
How to Get UBA Africard or Prepaid Card in Nigeria
1. Visit the Bank
Unfortunately, you can’t apply for this card online or any other bank than to visit the nearest UBA business office or branch in your area, with the aforementioned requirements to get your Africard or UBA prepaid card.
PSS: UBA branch office is so far to my place, I will have to spend some bucks for transportation. So, to safe the expense, I have to call the bank if the card is available and unfortunately, it wasn’t. They said it’s going to be available in 3 business days and I called again after the 3 business days to confirm and it was then available.
So, I will advise you to call the bank first before you visit them because, AFRICARD or the UBA prepaid card is not always used as other type of card, which the branch office may not have in store because of that.
2. Ask the Customer Care that you need “AFRICARD” or “PREPAID CARD”
You need to be careful when you get to the bank in order to request for the UBA Africard because you might be misled.
When I got to the UBA business office in my area, the lady that attended to me was trying to get me “MasterCard” thinking that “CARD” is “Card”. But I told her I don’t need MasterCard or VISA card but I need “AFRICARD”. Then she directed me to meet an officer in care of Cards collection in the bank and immediately, the man grabbed what I was asking for.
Tell and remind the bank staff that attend to you that you need ‘UBA Africard’.
PS: Note that there’s are 4 types of UBA Africard available and you should be careful enough before you choose. In fact, let me tell you about types:
Types of UBA Africard or Prepaid Card in Nigeria
There are four types of UBA Africard in Nigeria, they are:
- UBA Nigeria NGN Local High
- UBA Nigeria NGN Local Low
- UBA Nigeria NGN International High
- UBA Nigeria NGN International Low
Basically we have “Local” and “International” UBA Prepaid Card but each of them have their own limit as “High” or “Low”.
If you choose any of the first two listed above, please note that you can’t do any transaction outside Nigeria as the name implies “LOCAL” which is just like using the “Verve Card” and…..
If you choose any of the last two UBA Africard listed above, you can do international transaction but the “international High” is the best.
So, tell the staff attending to you the type of card you need.
If the card is available, you’ll be giving a form to fill.
3. Fill the UBA Africard or Prepaid Card’s Application Form Correctly
The application form is now in your hand, fill legibly without making any mistake.
The form is not hard to fill at all. Write your BVN at the top of the application form but if you don’t know your BVN, on your registered phone number with your bank, dial x565x0# and your BVN will be shown to you.
I need to tell you this:
There’s a place in the form that asked if you’re either the “Owner” or “Tenant” of the house address you provided.
If you choose “OWNER”, you will to provide the said “Utility Bill or NEPA bill” I told you to prepare under the requirements. But if you choose “TENANT”, you don’t need the utility bill (…… as at the time I got my own UBA Africard in Nigeria).
After you have filled the form, give it back to the card collection officer that gave you.
4. You Card will be Given to You
Finally, you card will be given to you and the next thing is to activate it!
I’m going to tell you how you can activate your UBA Prepaid card without visiting the branch office.
Here is how:
How to Activate UBA Africard in Nigeria using ATM & Online Portal
There are two ways you must activate your UBA Prepaid Card. The first one is activating at the ATM gallery and the second is using online portal…
Both ways will finally get your card in use. Here is how to do it:
- Activating UBA Africard with ATM
This is just as simple as when you changed your previous (mastercard) password after collecting.
Changing of password is the means to activate your account, and this require previous password. So, how can you get your UBA Africard previous or default passcode?
There is a sheet of paper with information about your prepaid card, on the sheet of paper is your hidden passcode which you will use for both ATM and online activating.
At the front of the sheet (where UBA logo is at the top right-hand corner), you will see something like scratch card but not actually meant to be scratched. You only need to peel the orange light nylon used to cover the blank area.
Note that the two passcode are written on the nylon.
The ATM PIN is at the top while the WEB PIN is below it. Note that each are 4-digits.
Now go to the nearest UBA ATM gallery and slot in your new AFRICARD or UBA prepaid card, change the PIN by first entering your default PIN, then NEW PIN…
If you’ve successfully did that, congrats.
The next thing is to activate on your PC or Smartphone.
- Activating UBA Africard with Web service (smartphone or PC)
Follow these steps to activate your UBA Africard in Nigeria using your smartphone:
- Go to www.myubaprepaidcard.com
- Login with your client ID and default passcode
This may confuse you, I mean the Client ID and you may be asking…
What is UBA Africard’s Client ID and Where to Find It?
The UBA Prepaid Card’s client ID is 10-digits numbers which is special and different for every prepaid card.
Note that the UBA Prepaid Card’s Client ID is not your account number, it can be found on the card.
To find your client ID, turn you card to the back where there’s black stripe.
You will see a number written at the right hand side at the back of the card, very close to the bar code.
So after finding your UBA Africard’s Client ID, check your “WEB” passcode just below the PIN you used to activate your card at the ATM gallery.
- After you’ve successfully login with your Client ID and WEB PIN, follow the rest information and answer accordingly.
You will be asked to choose and set up 3 security questions, change your username and PIN and finally confirm everything by entering the code sent to your phone number.
That’s all about activating your UBA Africard in Nigeria and any other African countries using UBA prepaid card.
Remember I said the card is not linked to any regular bank account. Meaning that you will need to load it each and everytime you want to use the Africard for online transaction…
But how can you do this?
How to Load or Fund Your UBA Africard in Nigeria
There are two sure ways to do this, if this is your first time.
- One of the ways is to simply walk into nearest UBA business office or agent around with the amount you want to load in, and they will do it for you.
Note that, if you don’t have bank account UBA, you will have to go to UBA branch offices before you can be able to load money on the card.
- The second way is so easy and it’s for those who have UBA bank account. You can load money into your Africard by simply using the UBA Mobile App or Internet Banking or Magic Banking.
I used the Mobile Banking App to load funds into my UBA prepaid card and was so easy.
- All you have to do is download the UBA official app, sign in by using your Client ID and PIN.
- After that, click on the “+” symbol you see at the top right corner of the screen and add your regular UBA account.
- Now to load funds, click on “Send Money” while you’re on the regular bank account screen. Then transfer more than N1,050 to the prepaid card
That’s all about loading funds into your UBA Africard in Nigeria and I hope you get it.
You can now use your UBA Prepaid Card to do any online transaction after loading it…
But here are few questions you may want to find answers to:
How much is UBA Africard Issuance Fee in Nigeria?
To get the said UBA prepaid card or Africard in Nigeria at the UBA banking hall is free but immediately you load funds into the card, the amount of N1,050 will be deducted immediately (for the card) just like when you just request for regular ATM card
What is the withdrawal fees and other Fees of UBA Africard in Nigeria?
You can see the UBA Africard fees and charges in the leaflet that accompanied your prepaid card.
But in case you misplaced it, here are the fees:
- Monthly maintenance cost N50 + VAT which may totally result to N52.50 but not up to N60/mo
- Every SMS you received just because of the card cost N4. if you received 10 SMS, that’s N40
- Withdrawing money with UBA Africard from UBA ATM gallery is FREE
- Withdrawing money with UBA Africard from any other bank’s ATM cost N65
That’s all about getting UBA Africard in Nigeria plus how you can activate and load funds to it.
If you have any question. Please use the comment box below and I will answer you promptly.
DISCLAIMER: I’m not a Staff at UBA, partner or an affiliate of UBA. I’m a blogger and internet marketer who likes to share most of his experiences and researches with great visitors like you.
If you have any issue, you can contact UBA customer care with this email: firstname.lastname@example.org
Please don’t forget to share this tips on how to get UBA Africard or Prepaid Card with your friends on social media or copy the link to recommend this post anywhere.
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VBank in Nigeria: Save Money, Get Loan, Invest & Earn on Referral
Hello guys, have you heard about VFD Microfinance Bank or simply VBank in Nigeria? Not really? Well, I’m about to tell you what’s up about this bank; how you can save money, apply and get a loan, invest your savings wisely and get financial tips that will spark your financial curiosities.
NOTE: This is not a sponsored post (i.e., I’m not paid to write about VBank or promote any of their services). This is just like other posts I write from my personal experience and what’s working for people.
But I’m going to give you honest reviews about their products (or services), their mobile apps and their website. I will start the basics;
What to Know about VFD Microfinance Bank
According to the company’s overview, VFD Microfinance Bank is a financial services institution based in Lagos State, Nigeria. They operate fully in the ‘Microfinance Banking Sector’ and have different finance experts who come together to help transform their customers’ goals to reality.
According to the company;
We’re in the business of helping all our customers achieve their desires, solve intermittent problems and create wealth, through high yield savings accounts and low interest rates on loans.
Although Vbank has its head office in Lagos, you can bank with them anywhere you are in Nigeria. You know this is made possible by virtue of advancement in financial technology – thanks to that.
In fact, I’m living in Osun State and I have an account with them which I hope to grow my savings with them.
But you may be thinking that you’ve heard about different digital banks and some seemed to be a fraud. And that may bring a particular question to your mind that;
Is VFD Microfinance Bank or VBank Scam or Legit?
Without much ado, VFD Microfinance Bank is Legit!
Why do I say that?
In the title of the post, you read that it’s Don Jazzy Endorsed, right?
I believe Don Jazzy won’t put his global reputation on risk in order to vouch for a scam or fraudulent banking company.
Well, I didn’t register an account with VFD immediately I learned about them from Don Baba, but had to check on their website and reputable to see if they will woo my darling self. And you know what? They seduced me with their services and had to register for an account immediately.
I also learned (through research on Google) that VFD Microfinance bank is featured in Guardian Online Magazine, Techpoint Africa, Business Day, Nairametrics, and they’re in UNILAG – a reputable university in Lagos State.
Now, let talk about what you can do with VFD Microfinance Bank.
Why Using VBank in Nigeria?
You know that temptation is a real bastard when it comes to money.
Sometimes, you may find it difficult:
- To save money in your piggy bank at home (because you might find yourself spending it easily)
- Save with a bank (because the money will be deducted for some charges like SMS alert and other arrant charges)
- Apply and get a loan easily in Nigeria
But what If I tell you that with VBank in Nigeria, these challenges are eliminated because they created the platform for you in mind.
Overview of VFD Microfinance Bank’s 5 Top Products and How They Help
- Employee Loan
This is one of the loan packages for employees by VFD Microfinance bank and if you’re working with any company, you might be eligible.
Note that your company must be able to sign a MoU with VFD and agree to pay back the loan from the salaries.
How this helps
If you are a staff of a company and you’ve been looking for a way to get loan, this package is for you and you’ll enjoy good interest rate, get the money within 6 hours after applying and you can back from the company salaries for 12 months (that’s a year)
APPLY HERE: https://vfdbank.com/employee
- Travel Loan
You’ve been trying to enjoy yourself somewhere outside the country and you don’t have enough money for the vacation, right? Don’t feel sad, VBank is now in Nigeria to help you with their travel loan package.
VFD Microfinance Bank partnered with WONTRA, a company where you can book your flight, accommodation, rental cars and help you with amazing attractions and holidays.
With this partnership, VFD Microfinance Bank will help you fulfill your dream to travel and enjoy yourself outside the country.
Before you can be eligible, you will have to meet their requirements and accepts their terms and conditions. For more, read and apply here: https://vfdbank.com/travel-loan
- Secured Loan
You may need an urgent loan to take care of something like medical bills or anything, VFD Microfinance Bank understands that at this junction, you are seriously in need of cash and some people or bank might turn down your request for loan…
That’s why they offer this package for anyone who can provide a collateral for the quick loan.
Such collateral (or assets) must be proved by you by providing the necessary documents and other requirements.
The good news is that you can get a loan up to N2millon as long as you secured it with an original asset.
To learn more and Appy, check here: https://vfdbank.com/secured-loan
- Unsecured Loan
Unlike Secured loan package where you’ll have to provide a collateral, VBank offers loan to professionals informal employment of blue chip/multinational organization.
In simple words, people who can apply for this loan are however banking professionals or regular customers and the maximum you can be given is N250k within 6 months.
You will be given the fund within 24 hours of providing necessary documents.
To learn more and to apply, check here: https://vfdbank.com/unsecured-loan
Your case may be different, you may not need a loan but would like to save some money. IF that’s the case, VFD Microfinance Bank offers a hybrid savings package.
You’re not just keeping your money here but you’re making your money to work for you while you save.
With the VFD_MFB hybrid or Vbank saving package, you’ll earn a compounded monthly interest of 14% per annum on whatever you save.
Note, this campaign is designed to help people who’re ready starting investing for as low as N50k.
For more details about this and getting started, check here; https://vfdbank.com/startnow
Let talk about registering;
How to Register an Account on VFD Microfinance Bank
I will not go deep into this, because the registration steps are easy and I trust that it’ll be easy for you. To register with VBank, you’ll need:
- Download the app – Click here to download for Android | iOS
- A working email address
- A passport photograph on your phone (to upload a profile pic)
- Your BVN and/or Bank Account Details (Name of Bank and Account Number)
- Use this code 👉 N8AXD – as your referral code or ID.
If you have these ready, go to their website to register and follow the prompt steps.
I personally use their android mobile app (which is free), you can get it on Google PlayStore (as shared above)
Before registering, make sure that the phone number linked with your BVN is active because you’ll be sent a 4-digits PIN to validate your registration on VFD Microfinance Bank.
After you’ve either registered with BVN or Bank details and might have done the validation successfully, the next thing is to navigate through your account!
How to Send Transfer Money from Your Bank to VBank or VFD
This is one of the problem people seems to be facing when using Vbank mobile app, but I’m going to show you how you can transfer or send money from your regular bank account to your new-found love, Vbank.
Just let do this in 4 easy steps;
- In your Vbank mobile app (after sign-in) at the homepage, long press on your account number to copy it, or simply write it down somewhere.
- Go to your other bank app (either GTbank, Zenith or any bank), start sending normally like you usually do put your copied Vbank account number where it is necessary (where it suppose to be na – Beneficiary account number)
- Now, you need to choose the Beneficiary Bank by searching for “VFD” and you’ll see the logo
- Then complete the transaction as usual!
This is very easy if you do send money through mobile apps, you can as well use USSD, but make sure you choose VFD Microfinance bank as the Beneficiary or receiving bank.
Now, let’s talk about the;
Added Benefit of VFD Microfinance Bank
- You can become one of their sales agents and make money while helping to know about this helpful company, and follow-up until they start maintaining a certain balance on their account
- You Can pay for bills such as Cable, Data, etc.
- You can set and monitor a budget for each month
- You are shown the analysis of your account (both inflow and outflow)
- And you can rest assured of high security from their end.
So, that’s what I can write about VBank in Nigeria
Let me tell you that you need to be patient when registering because of internet service and you might encounter delay or validation errors (token). But if you notice this, wait for a while and try again. I faced this difficult, I entered requested and entered my token more than 8 times but finally, I register successfully.
Also note that the 3 key agendas of VFD Microfinance Bank are Nigeria are to help you SAVE, INVEST, and gives LOAN if you meet their requirements.
I will be updating you in case anything changes or added about VBank, till then, don’t forget to subscribe to my mailing list in other to receive free banking tips, how to make money online, business ideas that work in Nigeria, and a lot of useful info.
Also, kindly share this post with your friend if this helps.
List of BIC or SWIFT Codes of Nigerian Banks – for International Money Transfer
Have you ever been asked to input your Nigerian Banks’ Swift Code when you’re trying to make a payment with your card or want to receive some funds through wire or international money transfer? If yes, and that’s why you’re here, I will show you all the SWIFT codes of Nigerian Banks as it is in 2020.
If you’ve been trying to receive some money through “international transfer” to your local bank in Nigeria from oversea countries like USA, Holland etc., you’ll be required to enter IBAN, Name, Name of your Bank, Address, Swift code and other personal data before the transaction can be successfully processed.
Unlike inter-bank transactions in Nigeria where you only need to give your Name, Bank Name and account Number to the person hoping to send you money and you’re good to go. Without this swift code, you won’t be able to receive your money to your local bank in Nigeria.
But you may be asking that…
What is Swift Code
First, SWIFT is an abbreviation for ‘Society for Worldwide Interbank Financial Telecommunication’.
From the acronym, a SWIFT code is a worldwide accepted unique form of identification to identify and locate a bank or a financial institution. This enables all banks in the world to exchange transactions without any problem.
No wonder, SWIFT code is also referred to as BIC
BIC is also an abbreviation which stands for ‘Business Identifier Code’
In my own experience, it’s either you’re asked of SWIFT code or BIC. So, always remember that SWIFT CODE and BIC are the same code which I will be showing you (Nigerian Banks’ Swift Codes or BIC).
Also note that SWIFT code or BIC is used to identify headquarter of your bank. If they need to identify your bank’s branch (that you’re using exactly), they’ll ask for your bank sorting code instead which is just 6 characters which are figures.
SWIFT Code or BIC is usually 8 or 11 characters. And if it’s 8, it identifies the headquarters but if it’s 11 characters, it identifies the branch. But all Swift codes of Nigerian Banks are just 8 characters, meaning that it will identifies the headquarter of your bank.
You may also want to know how they get these SWIFT codes for Nigerian Banks right? Okay, I’ll tell you.
BIC or Swift codes of Nigerian Banks are gotten just like other banks or financial institution in the world. Here is how they’re gotten;
How SWIFT Codes or BIC Are Gotten in Nigeria (all over the world)
Note the first 8 characters long and then the next 3 characters. And I will be using GT bank swift code (GTBINGLA) as specimen for you to understand better;
- 4 characters that comes FIRST stands for BANK Code which are letters (e.g GTBI)
- 2 characters that comes NEXT stands for country code (for Nigeria, it is NG)
- The NEXT 2 characters stands for Location code of headquarter Bank (for GT, it Lagos, so Location code is LA)
That’s how Guaranty Trust Bank got their own Swift code, which is GTBI + NG + LA which is equal to GTBINLA.
Can you see how they form the swift code for Nigerian banks? If I don’t tell you, you won’t know right? Now clap for me, lol.
But what if you see 11 characters long swift code, what does the last 3 characters stands for?
- The LAST 3 characters stands for Branch code.
But in most cases, only the 8 character will be good especially if you’re using your Nigerian Bank Swift Code.
And Note that ‘NGLA’ comes last in all swift codes of Nigerian Banks because all head offices of banks in Nigeria are located in LAGOS, Nigeria except Stanbic IBTC.
Now, let talk about what you’re here to check – all BIC or Swift codes of Nigerian Banks;
All SWIFT Codes of Nigerian Banks in 2020
Here are the SWIFT codes for all Nigerian Banks in ascending order:
Access Bank SWIFT Code – ABNGNGLA
Central Bank of Nigeria SWIFT Code – CBNINGLA
CITI Bank SWIFT Code – CITINGLA
Diamond Bank SWIFT Code – DBLNNGLA
ECO Bank SWIFT Code – ECOCNGLA
Equitorial Bank SWIFT Code – EQUTNGLA
First Bank of Nigeria SWIFT Code – FBNINGLA
First City Monument Bank (FCMB) SWIFT Code– FCMBNGLA
Fidelity Bank of Nigeria SWIFT Code – FIDTNGLA
Guaranty Trust Bank (GTB) SWIFT Code – GTBINGLA
Heritage Bank SWIFT Code – HBCLNGLA
Unity Bank SWIFT Code – ICITNGLA
Jaiz Bank SWIFT Code – JAIZNGLA
Polaris Bank SWIFT Code – PRDTNGLA
Sterling Bank SWIFT Code – NAMENGLA
Bank PHB SWIFT Code – PLNINGLA
Keystone Bank SWIFT Code – PLNINGLA
Skye Bank SWIFT Code – PRDTNGLA
Stanbic IBTC SWIFT Code – SBICNGLX
Standard Chartered Bank SWIFT Code – SCBLNGLA
Union Bank SWIFT Code – UBNINGLA
United Bank for Africa (UBA) SWIFT Code – UNAFNGLA
WEMA Bank SWIFT Code – WEMANGLA
Zenith Bank SWIFT Code – ZEIBNGLA
SO, that’s the list of all SWIFT Codes of Nigeria Banks
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7 Best Ways to Send & Receive Money from Abroad in Nigeria
Are you looking for risk-free, convenient and best way to send and money from abroad in Nigeria? Then this page is for you! If you’re a freelancer, online business person or you have family living outside the country, you may need to send money to them or they send to you here in Nigeria. But what’s the best and easier way to do this?
Typically, it’s much easier to send or receive money right here in Nigeria from anyone within the country, at least, we have the financial institutions and their internet banking services. But in case with international payments, it’s not easy and sometimes, risky.
There are many reasons why sending money to Nigeria from abroad is risky such as certain financial rules apply may be exclusive to a particular nation, logistics, trust (fear of being scammed) and many more.
- Despite all these differences, people still receive money from abroad in Nigeria, and you too can.
Most of these payment methods or services to receive money in Nigeria are online based, and as such you should be familiar with navigating the internet while you can also try some offline without the internet. These payment services – either online or offline have their strong points and weaknesses, this implies that there’s NO 100% ‘best way’ to receive money in Nigeria from foreign countries, rather you could choose the most suitable option based on your situation and recipient, and in some cases the originating country.
Below are some of the best ways you can receive or send money from (or to) abroad in Nigeria.
How to Receive Money from Abroad in Nigeria
1. Western Union
First on my list in the popular Western Union (WU) services that lets you send and receive money from friends and family members living outside Nigeria. Western Union is also listed as a means of payment in some online freelance marketplace across the globe.
It being first on this list doesn’t make it the best means of receiving payment from abroad. In term of reputation and general market awareness, Western Union seem to be the most recognized platform for receiving international payments.
How to Receive Money from Abroad in Nigeria with Western Union
This means of receiving payment involves:
- Visiting the nearest commercial bank, as almost all commercial banks in the country are agents to this service and I advise you use this medium when you receiving a huge sum of money.
- Tell the bank you need to set up a way you can receive money from foreigners with Western Union and they will set everything up for you.
- You can do better without visiting the bank by creating an account on Western Union’s website.
- After setting up your account, the next thing is to send your details to the foreigners in order to send you the money
- After sending him/her your details, ask for the MTCN
- After 24 hours, go to any commercial bank to withdraw your money.
Frequently Asked Question about Western Union
- QUES 1: What’s the requirement to open a Western union account to receive money from Abroad in Nigeria?
ANS: You will need an ID card that bear the name and address you want to use to receive the money.
Note that using the Western Union service to receive payments offers little to no convenience as you’d be bombarded with lots of paper works; a valid mean of identification, the Money Control Transfer Number (the sender will send this to you), amount to be credited as indicated by the sender, the sender’s country and name. These are just the basics as several banks have varying requirements.
- QUES 2: Do I need my account number to receive money with Western Union?
ANS: No, you don’t need your account number.
- QUES 3: How much does it cost to send money with Western Union in Nigeria?
ANS: According to CNN Money, Western Union charges $5 for a money transfer of up to $50, but a transfer of $900 could cost $76.
- QUES 4: What’s the meaning of MTCN in Western Union?
ANS: MTCN stands for Money Transfer Control Number. It’s a tracking number or a 10-digit reference code assigned to every single money transfer made with western union.
Okay, let check the second option if it’ll be more easier;
More like the PayPal service, but Nigeria are still plagued with the inability to receive funds; more like a one-way street! With issues like this, many Nigerians have decided to switch while awaiting the good news from PayPal.
Payoneer is a pretty new services and not well known, it packs lots of feature like what’s found on PayPal and also offers you a MasterCard or Visa card which you can use locally in withdrawing your funds. Many freelance sites such as FIVERR are integrating this service as a means of payments.
Such wide acceptance goes to show the credibility and efficiency of such a means of payment.
As a freelancer, it makes life easier as it keeps you away from the banks (and all its stress) and lets you focus more on your job while using your Payoneer card on the go.
- Here is how to open a Payoneer account in Nigeria and everything you need to know.
Amazing Offer: Click here to open a payoneer account and earn $25 bonus!
Many compare MoneyGram to Western Union, well they’re not wrong as these two has similar structure and close looking features, but what is MoneyGram and how can one use it in receive money from abroad in Nigeria.
MoneyGram is world payment system that eases the means of payment across the world, this process made it possible by its affiliation with commercial banks across the globe. You can use the MoneyGram service by visiting any commercial banks in Nigeria – most banks with Western Union also supports MoneyGram, and as with its counterpart lots of paper work awaits you.
Requirements to Receive Money in Nigeria from Abroad with MoneyGram
You will need stuffs like:
- A valid ID card having the name and address you gave the foreigner.
- Reference number, Sender’s name and his/her country in order to withdraw the money.
Other requirements will be requested depending on the bank you visit.
N/B: It’s important you use your current bank as this makes the process much easier.
4. World Remit
Another wonderful service you could use in receiving funds internationally in Nigeria is World Remit.
World Remit is an online based money transfer service that facilitates the easy transfer of money from overseas to Nigeria. This service was launched primarily with the intention of easy cash transactions for international workers. As a freelancer or relative to someone overseas, you’d find the service pretty useful and straight-forward.
One selling point of this services is its less charge rate when compared to it counterparts. Not much of paper work is required, just some few clicks online and you good to go. It’s not advisable to use this service for receiving large amounts!
5. Ria Money
Ria Money is a similar service like that of Western Union and MoneyGram. One distinction is that Ria Money also uses local kiosk and shops in and around major cities in the facilitation of cash transfers. It’s quite similar to WU in terms of structure, lesser transaction fees are charged thereby leading to longer transaction times.
The service can be accessed online or via its local agents scattered around in Nigeria and can be used in receiving money. You can also receive your funds via credit cards, bank accounts, but you’d incur more charges when you make use of either credit or debit cards.
Skrill has been around for a while now, it’s built mainly for skilled workers who intend to monetize their skills online. Mainly freelancers especially in this side of the world find it difficult to receive payments after doing a job for their clients.
PayPal which is widely supported by most of these sites still doesn’t allow users in Nigeria to receive money – you could say that this is a substitute for PayPal. Skrill is now widely supported by freelance sites and beginning to garner global acceptance.
The service which is online based will allow you to link either your credit card or local bank account to its site, with this you could be rest assured of getting all your payments in a timely manner.
7. Wire Transfer
Last on this list is the good old Wire transfer which transfers the cash directly to your bank account. A major drawback in using this means in receiving payment from abroad in Nigeria is the time it takes the money to arrive your account, and other technical difficulties that may arise from using Wire Transfer.
As long as you have a functional bank account, you could use this service in receiving funds, but be ready to wait for at least, 3-5 business days.
Rounding Off: How to Receive Money from Abroad in Nigeria
Some people would expect PayPal to be on the list but, I’ve intentionally skipped them. Reason is due to the technicalities involve if you choose to go through the back door, not everyone will be comfortable with that as PayPal Nigeria doesn’t support receiving of funds.
In conclusion, these medium however easy or complicated they may be, have their best use cases and you should choose your preferred method based on the current situation.
I hope you’ve learnt a lot, let me know which of this services you use to receive money from abroad in Nigeria and I’ll be glad t0 update this post with your new method if its result is great.
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