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Here's the Best Way to Transfer Money to Nigeria from UK

Here's the Best Way to Transfer Money to Nigeria from UK

07 Dec 2022


Are you one of the 15 million Nigerian diasporas looking for the best way to send money to Nigeria? With a $440.8 billion GDP, Nigeria is the world’s 30th largest economy and one of the largest remittance recipients receiving more than $10.11 billion in remittances in the first six months of 2022. The UK is a popular destination for economically motivated Nigerian migrants. Because of their shared colonial history, the United Kingdom is frequently regarded as the first choice for Nigerians seeking to relocate outside the country.

Once in the UK, Nigerians in the diaspora are often compelled to send money back home to relatives and loved ones. Despite so much money being sent between Nigeria and the United Kingdom, remittance remains challenging. And, with so many providers promising the lowest transaction rates, it can take time to find the best deal.

According to expatriates, ACE Money Transfer is the best provider and can assist you in sending money quickly and securely to Nigeria from the UK online. Low exchange rates and free transfers to recipients will be advantageous to you. Let’s learn the best ways to send money to Nigeria from overseas.

Different Methods Of Transferring Money Back Home

Most money transfer companies allow you to send money to Nigeria from UK using various payment methods. Most providers accept bank transfers and credit cards, but many also accept cash; some even deliver money to your recipient's door. 

Card payments and bank transfers are the most popular methods. Money can be sent to Nigeria in various ways, both online and offline.

Wire Transfer

Bank transfers and international wire transfers are the most popular ways to send money to Nigeria because they are safe, dependable, and convenient. However, they frequently have the slowest delivery times if speed is the primary concern.

You must pay outgoing fees, flat fees, currency exchange rate markup, and an additional incoming transfer fee when sending money to Nigeria from the UK via bank account transfer. If you choose to make an international wire transfer, you may be asked to enter a SWIFT/BIC code as part of the transaction.

Debit Card

ACE Money Transfer allows you to send money to Nigeria over the internet using your debit card. Make sure you comprehend the processing fees before sending in a payment.

Credit Card

Using your credit card, you can pay for your online money transfer to Nigeria utilising a service like ACE Money Transfer to avoid paying excessive fees.

Stats About Nigerian Expats In The UK

Significant internal and external migration flows have occurred in Nigeria over the past few decades. In the 1970s, the oil boom attracted foreigners, and more people entered the country than left. However, the economic crisis and political unrest of the 1980s led to an increase in the number of Nigerians emigrating from the nation.

The number of Nigerian citizens living in the UK in 2021 was estimated to be around 178000, a significant increase from the 90 thousand people living there in 2008. The most recent year's count of 178000 Nigerian nationals residing in the UK represents the highest number ever.

Reasons Why Nigerians Move To Foreign Countries

According to a study by the Africa Polling Institute released in 2021, seven out of ten Nigerians would leave their nation if given a chance. Nigerians are leaving their borders to become citizens of other countries, with Canada being a popular choice. 

This flight of people and ideas is having a significant impact on the African superpower. Although, migration is a natural part of life that is unusual to humans and other living things, such as plants that move toward the sun in a process known as phototropism. 

However, the darkness of the Nigerian environment has made nearly every Nigerian you speak with have an exit plan to another country in the works, making migration by Nigerians feel more like a plant.

Growing unemployment, a lack of opportunities, the charm of an idealised West, and ignorance of the dangers of illegal immigration all contribute to this massive emigration.

Nigerians used to travel for educational purposes, but nowadays, they do it in search of better jobs to pay for their labour. A few main socioeconomic issues driving Nigerians to emigrate abroad include double-digit inflation, a devaluing currency, and insecurity.

Which Is The Best Method And Why?

With so many companies willing to transfer your money abroad, choosing the best way to make an online money transfer to Nigeria from the UK could take time. 

Due to their excellent rates and customer service, the common people consistently voted ACE Money Transfer as the best transaction service between Nigeria and the UK. For a good reason, this is one of the most well-liked providers for those wishing to send money from the UK.

ACE is one of the fastest service providers, guaranteeing a maximum transaction timeline for transactions to Nigeria of minimum minutes for cash pickups and minimum hours for bank transfers. With partnerships with most tier-2 banks and all of Nigeria's tier-1 commercial banks, ACE also offers excellent coverage for cash pickups.

In addition, ACE is an excellent choice if you're a first-time sender. The first few transactions a user completes are frequently subject to preferential rates and no fees. The ACE platform also offers a seamless customer experience, which is a plus for anyone who isn't used to the traditional specificity of money transfer providers.

You can pay with a prepaid card, credit card, debit card, Android Pay, Apple Pay, or a bank account transfer.

When users have too many choices to choose from when making a decision, it is known as choice overload. Choice overload can frequently result from the sheer number of options available to people sending money from the UK to Nigeria. Considering ACE Money Transfer could be the best decision you ever make.

Bottom Line 

It's simple to send money to Nigeria online to your family members. Go with the transfer method that is most convenient for you and your recipient to send money to Nigeria online. You can send money via the ACE Money Transfer website or app because ACE is the only company that will let you make your first transfer fee-free.


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