How to Send Money to Nigeria from Australia

Welcome, Today we’ll be discussing On How to Send Money to Nigeria from Australia.

Sending money back home to friends and family in Nigeria is important for Nigerians living and working in Australia. In this guide, we provide a detailed overview of the best ways to send money to Nigeria from Australia.

Transferwise, WorldRemit, Azimo, MoneyGram and Western Union are the most popular options for Nigerian diaspora in Australia to remit money back to Nigeria securely and in a cost-effective way. We compare these money transfer services and provide step-by-step guides on using them.

Why Send Money from Australia to Nigeria?

Here are some common reasons for money transfers from Australia to Nigeria:

• Support family and parents back home
• Pay school and university fees of siblings and relatives
• Send money for special occasions like weddings
• Make investments and savings in Nigeria
• Buy property back home
• Build businesses and settle payments in Nigeria
• Donate to churches, charities and causes in Nigeria

Nigerians living in Australia remit over $500 million annually to support loved ones, investments and obligations back home in Nigeria.

How to Send Money from Australia to Nigeria

Here are the most popular and convenient ways to transfer money from Australia to Nigeria instantly:

1. TransferWise

TransferWise is a digital remittance service allowing Australians to send money to Nigeria safely and quickly at best exchange rates. You get real mid-market rates compared to banks.

Benefits:

• Low fees from just 0.5%
• No hidden costs
• Excellent exchange rates
• Fast transfers in minutes
• Simple online process

How to use:

1. Sign up at TransferWise Australia and verify ID
2. Select recipient bank details in Nigeria
3. Choose amount in AUD and confirm real exchange rate
4. Pay through bank transfer or debit card in Australia
5. Recipient gets NGN deposited in their Nigerian bank account

2. WorldRemit

WorldRemit enables instant money transfers to Nigeria from Australia securely through website, app, or SMS. You can send directly to banks, mobile wallets, cash pickup and airtime top-up.

Benefits:

• Low fees – from just 1%
• Cash pickup at 5,000+ agent locations in Nigeria
• Airtime top-up to all networks
• 24/7 customer service
• Accepts all major debit/credit cards

How to use:

1. Create WorldRemit account and provide your details
2. Enter recipient details in Nigeria
3. Pay with your Australian bank account or card
4. Recipient gets money directly into bank, as airtime or cash pickup

3. Azimo

Azimo allows online money transfers to Nigeria within minutes from Australia at excellent rates. Cash pickup at agent locations is available.

Benefits:

• Low transfer fees from 1%
• Great exchange rates
• Swift transfers to all banks
• Cash pickup service across Nigeria
• 24×7 help and support

How to use:

1. Register at Azimo Australia website or app
2. Add recipient details like bank account in Nigeria
3. Make payment in AUD via bank transfer or card
4. Azimo converts to NGN and transfers to Nigeria instantly

4. MoneyGram

MoneyGram allows cash pick up at thousands of agent locations across Nigeria. Send easily online or visit MoneyGram agent outlet in Australia.

Benefits:

• Large cash pickup network in Nigeria
• Online transfers or in-person at agent outlet
• Reasonable transfer fees
• Trackable reference number for each transfer

How to use:

1. Create MoneyGram online account and add recipient
2. Visit MoneyGram agent location in Australia
3. Provide recipient name and pay in AUD cash
4. Share reference number with recipient for cash pickup in Nigeria

5. Western Union

Western Union offers bank deposits and cash pickup service in Nigeria. Visit WU branch or agent location in Australia to send money easily.

Benefits:

• Large agent network for cash payout in Nigeria
• Transfer tracking and sms notifications
• In-person branch and agent locations
• No need for recipient bank account

How to use:

1. Locate nearest Western Union agent location in Australia
2. Fill out sender and recipient details form
3. Pay cash amount in AUD and get receipt
4. Share MTCN number with recipient for cash pickup in Nigeria

Factors to Consider When Sending Money to Nigeria from Australia

Exchange Rates

Compare AUD to NGN exchange rates and fees across providers to get best value transfer. Consider companies that offer mid-market exchange rates like TransferWise.

Speed

Opt for digital remittance platforms that offer instant or next day money transfers over traditional wire transfers which can take 3-5 days.

Fees

Check for any hidden charges apart from transfer fees. Compare transfer fees across brands that range from 0-5% typically.

Convenience

See if online or app-based transfers are available to avoid visiting physical agents or branches.

Cash Pickup

If recipient needs cash, use services like WorldRemit, Azimo that allow cash pickup at agent locations across Nigeria.

Security

Only use licensed regulated money transfer companies for safe remittance. Avoid informal channels.

Customer Support

Opt for providers with responsive customer support in case any queries before, during or after transfer.

FAQs On How to Send Money to Nigeria from Australia

Here are some FAQ On How to Send Money to Nigeria from Australia

How can I send money to Nigeria from Australia?

You can send money safely to Nigeria from Australia using digital platforms like TransferWise, WorldRemit, Azimo. Alternatively, use traditional companies like MoneyGram or Western Union by visiting their agent locations.

Which method is cheapest for sending money to Nigeria from Australia?

Digital remittance platforms like TransferWise and Azimo offer the most affordable options for money transfer to Nigeria from Australia. They have low transparent fees starting from 0.5% and use mid-market exchange rates. This gives more value compared to traditional companies like Western Union or MoneyGram which have higher fees.

Can I send money to Nigeria from Australia online?

Yes, most money transfer companies today like WorldRemit, Azimo, TransferWise offer easy online transfers to Nigeria from the comfort of your home in Australia. You simply need to create an account, add recipient details, make payment by bank transfer or card and the money gets deposited directly into the recipient’s Nigerian bank account.

Is it safe to send money to Nigeria from Australia?

It is completely safe to send money to Nigeria when you use regulated remittance companies like WorldRemit, MoneyGram, etc. They have robust security protections in place and ensure safe delivery of funds. Avoid unlicensed informal channels for money transfers.

How much money can I send to Nigeria from Australia?

There is no limit set by Australia on personal remittances to Nigeria. Most money transfer companies also do not impose any limits. However, some may set their own per transaction limits of around $10,000 AUD equivalent. You can transfer any higher amounts through multiple transactions.

Can I send money to Nigeria from Australia via PayPal?

PayPal can be used to send money to Nigeria if you have a PayPal balance or are making a peer-to-peer transfer to someone having a PayPal account in Nigeria. However, you cannot use PayPal to directly transfer from your Australian bank account to a Nigerian bank account.

What documents do I need to send money to Nigeria from Australia?

You will need to provide your Australian ID like passport, residency permit or driving license when signing up on money transfer platforms as identity verification. Some basic details of the recipient like name, bank details etc. are also required.

How long does it take to send money from Australia to Nigeria?

Digital transfer services like Azimo and TransferWise enable real-time transfers and money gets credited within minutes in the recipient’s Nigerian bank account. With traditional firms like Western Union or MoneyGram, it may take 2-3 days for money to reach.

Can I track my money transfer to Nigeria from Australia?

Yes, most money transfer companies provide a tracking reference number or facility to track the status of your transaction. This allows you to monitor the transfer until the recipient confirms receipt of funds in Nigeria.

Is it cheaper to send money to Nigeria from Australia through a bank?

No, banks usually have high fees and don’t offer good exchange rates compared to specialized money transfer companies. TransferWise, WorldRemit and similar services provide more affordable sending options.

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Conclusion

To conclude, Nigerians living in Australia can conveniently send money back home to Nigeria using the various digital and traditional money transfer companies discussed above. Ensure you compare exchange rates, fees, convenience, speed, and safety before picking the ideal remittance option for your needs.

After reading this blog you know about How to Send Money to Nigeria from Australia.