In this article, you'll discover if Remitly operates in Nigeria, explore some potential drawbacks if it does, and consider the possibilities for using the service. Stay tuned for detailed insights.
Does Remitly Work In Nigeria?
Yes, Remitly works in Nigeria. The service allows users to send money to Nigeria, offering options such as cash pickup and bank deposits. This functionality ensures that recipients in Nigeria can receive funds securely and conveniently.
Remitly supports transfers to various banks and financial institutions in Nigeria, including Access Bank and GT Bank. Users can track their transfers, benefit from competitive exchange rates, and enjoy the assurance of on-time delivery or a refund of fees.
Fees and Charges for Using Remitly in Nigeria
Here are some general costs that users might encounter when using Remitly in Nigeria:
- Transaction Fees: These are fees charged for each money transfer. The amount can vary based on the transfer amount and the delivery method chosen.
- Currency Conversion Fees: When sending money to Nigeria, Remitly may apply a currency conversion fee. This fee is typically included in the exchange rate offered.
- Withdrawal Fees: Depending on the recipient's bank or the method of receiving funds, there might be fees associated with withdrawing the money.
Is Remitly the Best Option in Nigeria?
Even though Remitly is available in Nigeria, it might not be the best option for users due to certain limitations and restrictions that could affect the overall user experience.
- Promotional rates are limited: Special exchange rates apply only to the first $500 sent.
- Transaction fees: Fees can vary based on the transfer amount and delivery method.
- Currency conversion fees: These fees are typically included in the exchange rate offered.
- Withdrawal fees: Additional fees may apply depending on the recipient's bank or withdrawal method.
- Account creation required: Users must create an account and provide detailed information to send money.
Alternatives to Remitly in Nigeria
1) OneSafe
OneSafe is a leading alternative payment solution in Nigeria, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, multi-currency support, and seamless payments, OneSafe ensures efficient financial operations, making it a superior option for businesses and individuals alike.
OneSafe Reviews
Users have praised OneSafe for its excellent services, including ACH, Crypto, Wire deposits, and Virtual cards. They appreciate the support for most businesses, making it a highly recommended option for financial operations. Notably, OneSafe has been recognized for its ease of use and superior customer support.
2) Wise
Wise offers a multi-currency account, low-fee international transfers, and an international debit card, making it a viable alternative payment solution in Nigeria. Users benefit from cost savings, transparent fees, and robust security measures. Wise supports Nigerian Naira, ensuring convenience for local and international transactions.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval.
Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and efficient payment solution in Nigeria, allowing users to send and receive money globally. Key features include 24/7 fraud monitoring, Buyer and Seller Protection, and the ability to link multiple cards for seamless transactions. These benefits make PayPal a reliable option for both individuals and businesses.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5. Users have reported high transaction fees, especially for international payments, and a lengthy dispute resolution process.
Check out more PayPal reviews here.
Frequently Asked Questions about Remitly in Nigeria
Can I send money to Nigeria using Remitly?
Yes, Remitly allows you to send money to Nigeria through various methods.
What are the fees for sending money to Nigeria with Remitly?
Fees vary based on the transfer amount and delivery method. Currency conversion fees may apply.
How long does it take for money to arrive in Nigeria?
Transfers typically take minutes to a few hours, depending on the chosen delivery method.
Is it safe to use Remitly for transfers to Nigeria?
Yes, Remitly uses robust security measures to ensure safe and secure money transfers.
What banks in Nigeria can receive Remitly transfers?
Remitly supports transfers to various banks, including Access Bank and GT Bank.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Nigeria is crucial for seamless financial operations. OneSafe stands out with its ease of use, lower fees, and superior customer support. Explore OneSafe for efficient and secure transactions. Ready to get started? Sign up today!
