Home Finance Can I receive Money through Transferwise in Nigeria?

Can I receive Money through Transferwise in Nigeria?

Transferwise has been on the web for years now. Yet, not everybody uses it. Some people don’t even know it exists. At the same time, some of those who know it don’t know how to use it. 

Unsurprisingly, many people keep asking, “Can I receive money through Transferwise in Nigeria?” The answer is yes, but how? Well, that is what you are going to find out in this post.

Can I receive money through Transferwise in Nigeria?

The simple answer is yes. You can receive money through TransferWise in Nigeria and many other countries. Though, To receive money, you will need to provide the sender with your Transferwise account details and make sure that you have a valid Transferwise account set up.

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But wait, do you know how to open a Transferwise account in Nigeria? If you answer no, then check the next paragraph.

How to open Transferwise account in Nigeria

It is very easy to open TransferWise in Nigeria. All you need is to follow the steps below;

  1. visit the Transferwise website and select “Sign up.”
  2. Provide your personal information such as your name, address, and email.
  3. A verification email will be sent to you.
  4. Verify your email by clicking on the link sent to your email inbox.
  5. Then, Complete the setup process by giving your phone number, ID type, and number, and taking a selfie with your ID.
  6. Choose the currency you want to hold in your Transferwise account and add a bank account to transfer money to and from.
  7. Agree to Transferwise’s terms and conditions.
  8. Boom! You have successfully opened Transferwise account in Nigeria
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How to send and receive money from Transferwise in Nigeria

To send money transfer wise in Nigeria, follow the steps below;

  • Open your Transferwise account.
  • Click on the “Pay money” button.
  • Enter the recipient’s information, such as their name and information about their bank account.
  • Choose the amount you want to send and the currency.
  • check and confirm the transaction’s specifics.
  • Use a debit or credit card or your linked bank account to pay for the transfer.

And to receive money from Tranferwise in Nigeria;

  1. Firstly, you need to have a valid Transferwise account set up.
  2. Provide the sender with your Transferwise account details, including your name and Transferwise account number.
  3. Wait for the transfer to be completed.
  4. Once the transfer is complete, the funds will be deposited into your Transferwise account.
  5. You can withdraw the funds to your linked bank account in Nigeria.
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How do I withdraw money from Wise to my bank account?

To transfer funds from Transferwise to your bank account, you will need to log into your Transferwise account, go to the “Balances” area, and choose the currency balance you wish to withdraw.

 Next, select “To a bank account” under “Withdraw” and click “Withdraw.” Enter the desired withdrawal amount and choose the associated bank account. 

Check and double-check the information, and Transferwise will handle the withdrawal and send the money to your associated bank account. It’s vital to review Transferwise’s costs before continuing because they can apply to withdrawals to bank accounts.

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FAQs

can I use Transferwise to send money from Nigeria to USA

Yes, you can use TransferWise to send money from the United States, the United Kingdom, and other eligible countries to Nigeria. 

Is TransferWise banned in Nigeria?

No, Transferwise is not banned in Nigeria. As long as you have a verified account, you can use it to receive and send money in Nigeria.

Final thoughts on Can I receive money through Transferwise in Nigeria

Transferwise is a good foreign payment option for Nigerians, especially internet marketers, and freelancers. With Transferwise, you can swiftly and conveniently receive money from overseas with Transferwise, and you’ll get to take advantage of good exchange rates and clear fees.

Finally, thanks for reading our article on “Can I receive money through Transferwise in Nigeria?” We hope this article answered your question. Perhaps, if you still have a question, you can drop it in the comment section.

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