With over a hundred thousand Nigerians residing in Italy, many seek the most affordable and efficient ways to send money back home. This guide will outline the best methods for transferring money from Italy to Nigeria, ensuring that your recipients receive the maximum benefit from your remittances.
Best Ways to Send Money from Italy to Nigeria
When considering how to send money to Nigeria from Italy, you have several options, each with its own pros and cons:
- Offline Methods
- You can visit a bank, post office, or money transfer outlet in person. However, this method often involves long wait times and potential high fees.
- Online Methods
- Sending money online is generally quicker and cheaper. You can do this through various money transfer platforms right from your home.
Different Methods to Transfer Money
Here are some of the most popular methods for sending money from Italy to Nigeria:
1. Paysend
- Overview: Paysend allows you to send money quickly and affordably through its app or website.
- How to Use:
- Create a Paysend account by entering your personal details.
- Choose to transfer money to a bank account or directly to a Visa, Verve, or Mastercard.
- For bank transfers, input the recipient’s details and verify the transaction before payment.
- Flat fee of €1.50 per transaction.
- Cash Pickup: You can also choose to send cash for pickup at one of approximately 500 locations in Nigeria, with the same fee structure.
2. Rewire
- Overview: Rewire is a global money transfer service that facilitates sending money to Nigeria.
- How to Use:
- Register for a free Rewire account and complete the verification process by uploading identification documents.
- Once verified, you can send money using various methods such as bank transfers or debit cards.
- Log in, enter the amount, select the recipient, and choose your payment method. Funds are usually received within 24 hours.
3. Azimo
- Overview: Azimo is a popular choice for international money transfers, emphasizing security and speed.
- How to Use:
- Register and verify your account.
- Choose the ‘Cash Pickup’ option for quick transfers. Fill in the recipient’s details and pick-up location, then pay using a bank or credit card.
- You can also send money directly to a bank account, though note that Naira payments into local accounts may now be limited due to CBN regulations.
- For greater speed, you can use SWIFT to send money to a Nigerian-domiciled Euro account.
Conclusion
There are several effective ways to send money from Italy to Nigeria, whether you prefer traditional offline methods or modern online platforms. Services like Paysend, Rewire, and Azimo offer competitive rates and options that can help you maximize the amount your beneficiaries receive. Always compare fees and exchange rates to choose the best service for your needs. Happy transferring!
