With the high rate of emigration happening in Nigeria, a lot of us have family and friends abroad. Wouldn’t it be nice if you could easily receive or send money to them without the stress of international bank transfer? Luckily, RespectedFX is here to help you send money internationally. In this article, you will learn all you need to successfully send money abroad from Nigeria.
What is International Money Transfer?
Just what it sounds like, International Money Transfer is when you send money from one country to another country within the same or across continents. There are a lot of reasons one would want to send money abroad – from making payments to own something like a house, to paying off bills or it could also be a gift to your loved ones.
What’s required for International Money Transfer?
When making international money transfers, depending on the service provider you choose, the following are generally required:
- The name and address of the recipient
- SWIFT/BIC and Bank Account Number
How to make an International Money Transfer with Respected FX
With Respected FX, international money transfers are seamless. Your friends, family or business associates will receive their money easily – anywhere in the UK, Europe, Asia and USA. Respected FX uses safe and secure money transfer channels to ensure the recipients receive their money within stipulated time. Some receivers have specific preferences on how they want to receive their money. For example, they may not have a foreign bank account and would like to receive cash in-hand. Respected FX also makes this type of international money transfer possible.
The two (2) types of international money transfer with Respected FX
- Transfer to a foreign bank account
With Respected FX, you can send money to any foreign bank account in the UK, Europe, Asia and USA. What’s needed are the regular details needed for such transfers:
- Name and address of the recipient
- SWIFT/BIC and Bank account number
- Transfer to a foreign address
This method of international money transfer is used by receivers who don’t have a bank account. What’s required is the receiver’s name and address. After which the receiver will be given their nearest cash pickup location to collect their money cash in-hand.
How long does an international money transfer take?
The number of days it takes for international money transfer normally depends on the country you’re sending money to. Though, generally international money transfer can take between 5 – 14 days.
How much are international money transfer fees?
Knowing the fees before you make an international money transfer is very important though fees are not always constant because they depend on a lot of factors. Factors like currency conversion charges, sending fees and receiving fees. But you don’t need to worry because with Respected FX, our fees are low and are shown upfront.
Is it possible to make large international money transfers?
You might want to buy a house abroad or another expensive item which requires you to make a large deposit internationally. Respected FX has got you covered. Although there is an upper limit, we can help you make large international money transfers to the USA and any country in the UK, Europe, Asia.