Mar 132014
 

By Mohammed Waseem

Scams and money laundering are common in a country like Nigeria. Operating money transfer services to such countries is quite difficult. Amidst all difficulties, few companies offer their services to Nigeria after verifying the identity of the sender and measures required to prevent illegal activities.

WebLink International, a UK based money transfer company specializes in transferring money from the UK to Nigeria. They offer services to Nigerian nationals living and working in the United Kingdom. They can send money to bank accounts in Nigeria or send it for collections from any of the WebLink agents. Money can also be sent to WebLink-proprietary ATM cards for the recipients to withdraw it as they like.

WebLink InternationalIn order to send money, the sender has to visit a WebLink agent location and fill up the send and then hand it over to the agent along with the money intended for the transfer, the applicable fee and a verification document. Money is paid out either in US dollars or Nigerian naira, as instructed by the sender. Recipients can collect the money from one of over 1000 bank branches across Nigeria, which include Skye Bank, Fidelity Bank, First City Monument Bank and Keystone Bank. Cash can be collected just minutes after the completion of the transaction and after the sender has communicated the unique reference number with the recipient.

Money can be transferred to a regular bank account at any Nigerian bank; such credit generally happens the next business day. Transfers can also be made to WebLink-proprietary ATM cards, which can complete even the same business day. To obtain an ATM card, the recipient has to walk in to any of the Skye Bank branches and request a Webfast or Webkonnect Xplorer card.

WebLink has also launched person-to-person transfer service from transfers from UK to Nigeria, which is convenient, simple and affordable. As an introductory offer, the first transaction is free of charge for a transfer not exceeding £100.

No detail of the fees for their services is given on their website. A section does have exchange rate details; however, they ask the customers to call them for more details on current exchange rates. Overall, it is a good service which is quick, secure and reliable.

Jul 112013
 

By W.H.A.| SpeedyPay.info

Anthony wrote:

please i want to know if you guys, transfer money with western union from nigeria to europe. thanks.

Answer:

Anthony, SpeedyPay.info is not a money transfer service. We are a blog that provides reviews and information about money transfer services.

Nigeria economic activity map.

Nigeria economic activity map. There are legal restrictions on money transfers out of Nigeria.

There are legal restrictions on outgoing money transfers in Nigeria. Western Union has more than 2,700 agents in Nigeria. However, the company does not allow customers in Nigeria to transfer money abroad, so wire transfers can only be sent in country.

In addition, sending more than $10,000, or the equivalent amount in Naira (the Nigerian currency) will be reported to the Central Bank of Nigeria.

MoneyGram has offices in Nigeria but they are even more restrictive than Western Union. MoneyGram customers in Nigeria cannot send money at all – whether overseas or locally – but can only receive money. MoneyGram partners in Nigeria include the Equatorial Trust Bank (ETB), UBA, First Bank of Nigeria, Bank PHB, Union Bank of Nigeria PLC, Fidelity Bank, Spring Bank PLC and Afribank of Nigeria PLC.

Other services:

Nevertheless, there are services that claim to be able to transfer money internationally from Nigeria. The normal fee is $20 to $35 for the first $100, then $10 for every $100 after that.

Another money transfer service that operates in Nigeria is SAPNET Solutions. Their website is http://www.sapnetsolutions.co.uk/ but it’s apparently “undergoing maintenance” right now, which does not inspire confidence. Afro Trade Group also claims to provide money transfer services out of Nigeria. If you try one of these services please let me know the result.