How To Send Money To Nigeria from Canada
Are you a Nigerian residing in Canada and searching for how to send money to Nigeria from Canada? If yes, then look no further, as this article contains all the information you need.
Canada, a North American country, is known to be home to lots of Nigerians. So it’s common to see people search on Google about sending money to Nigeria from Canada.
Sending money to Nigeria from Canada is not that complex; in fact, there are a lot of channels to do that. Due to the inability of local banks to fast-track these processes, the best and easiest way is to use any of the different online payment channels. These channels will enable you to send money to Nigeria from Canada without sweating or wasting time.
How can I send money to Nigeria from Canada?
This is a pretty simple thing; just pick any of the international money transfer providers that allow sending money to Nigeria from Canada. The likes of Wise, Worldremit, Remitly, TransferGo, XendPay, Ria, and Xe Money Transfer are among the money transfer providers you can make use of to send money to Nigeria.
What is the fastest way to send money to Nigeria from Canada?
Canada to Nigeria is a long way, and before the advent of different online payment channels, most people used local banks’ international money wire services, which can be very slow and come with high charges.
Using any of the international money transfer providers, you can send money to Nigeria in hours or at most in less than 2 days. Plus, you can easily track your transaction, and you get to avert high exchange rates.
What is the exchange rate to send money to Nigeria from Canada?
There are actually no stable or usual exchange rates out there. Several platforms have their own exchange rates, which can either be the same as the official CAD to NGN rate or a little bit higher. Transaction charges are also something to consider because they differ across various transfer providers.
What you have to do is compare by using different online comparison tools like Monito or Remitfinder and comparing the rates across various transfer channels, and then choose which one you want to go with. In addition, you can also download the apps and try to make a Canada to Nigeria transaction; you did see their exchange rate, including fees.
Can I send money to Nigeria from Canada using my local bank?
Well, it’s not recommended, but you actually can. Many local banks offer international money transfers to different countries, including Nigeria, as do banks in Canada. But the truth is that these banks will charge you very high fees, coupled with delays. Exorbitant rates, taxes, and bank duties—if you are cool with that, then go for it. If you are not,then use Wise, Worldremit, or any other transfer provider for a quick, and easy transaction.
Which is the cheapest way to send money to Nigeria from Canada?
Currently, PaySend and Wise offer the cheapest Canada-to-Nigeria money transfer. Their rates are the best when compared with other providers. Plus, the service charge is low, or even zero, for first-time users.
How long does it take to send money to Nigeria from Canada?
This depends on the provider used. For wise and paid people, it takes minutes to a few hours, while sometimes and for others, it can take up to 2 to 4 working days or less.
How do I send money with an international money transfer app?
Follow these steps for an easy and swift transaction:
- Download the app of your preferred money transfer provider and sign up with your details
- The next step is to initiate a money transfer
- Select the country you are sending to
- Select the recipient’s bank code
- Input the amount you are sending
- Check the amount your recipient will receive after charges
- Make payment with a bank transfer, a credit or debit card, PayPal, Apple Pay, or any of the other available payment methods
- Confirm if the transaction was successful and track the progress
- You can now tell your recipient to expect the money anytime soon.
How much does it cost to send money to Nigeria from Canada?
Actually, there is no cost to initiate a money transfer. However, you are charged a token by the providers for the transaction. For most providers, 0.1 to 0.8% of the money sent. Some charge low fees or even zero for new users.
Sending money to Nigeria from Canada is a straight-forward process. Use any of the transfer platforms with the best rates and fastest speed, of course. It is actually the fastest and most convenient way, instead of using your local bank’s international money wire service. We hope you find this article helpful.