WorldRemit Transfer: How to Send & Receive Money in Nigeria

WorldRemit Transfer is one of the best methods to send money to Nigeria, or receive money from your client or family member(s) Abroad. 

But in case you don’t know how to use platforms like WorldRemit, and you really need a faster and cheaper way to make transaction, consider if your case is like “Jerry” below;

Jerry has always been obsessed with what he considers outrageous charges he pays while sending money home to friends, family and loved ones in Nigeria using the conventional money transfer platforms.

In one of these occasions he was advised by a cousin “James” who visited from the U.K to try out “WorldRemit Transfer” platform since that has been his personal brand lately having discovered they operate with a transfer fee he considers ridiculously cheap.

Jerry didn’t blink before jumping in to try it out, and what were his findings? WorldRemit was not only cheaper, it was swift, seamless and secured with varying delivery options in Nigeria.

Given this, if as a Nigerian, African, etc., who wishes to send money to Nigeria or any other African country for up-keep, medical, education, investment, building, freelance payment, etc. 

WorldRemit Transfer may just be one of the viable options you will have to consider.

What is WorldRemit?

WorldRemit is a cross-border digital payment solution that provides international money transfer service. It’s a fast and secure service in which you can transfer money online via smartphone, computer or any other device.

This platform is designed in a way that you are not required to visit an agent location to facilitate your remittance, you are good at home, office, from the comfort of your desktop and mobile device.

Benefits of using the WorldRemit Transfer in Nigeria

Using WorldRemit Transfer service in Nigeria could benefit you in a number of ways, since it’s one of the most up-to-date money transfer platforms with requisite functionality.

• There’s no limitation (unlike PayPal) in sending money to Nigeria since the service is available to over 150 countries locally around the globe
• Unlike most money transfer platforms, WorldRemit is designed with a multi-currency functionality which allows you to send money in a preferred local currency
• It’s an instant transfer which avails the receiver immediate pick-up without delays considering remittances could be meant to serve emergency purposes
• Using the WorldRemit platform has never been questionable in terms of security and convenience giving money could be sent from the comfort of your mobile device using the service app.

Who can use the WorldRemit service

Everyone above 18 years old, capable of accessing financial services with a legal work permit and are duly not under any form of obligation/limitation as perceived by the Bureau of finance in the residence country can use WorldRemit.

Requirements to Use WorldRemit

To use the WorldRemit Transfer service, you are required to make provision for the following

• Valid Identity card as approved by the relevant authority in your residence country
• A WorldRemit app/agent location
• The beneficiary’s complete name and phone number
• A credit/debit card linked to your WorldRemit app

With the above information and condition strictly met, you are one leg into sending your remittance to Nigeria or any other country where this service is available.

How to Send Money to Nigeria/Africa with WorldRemit

Note:  Sending money to Nigeria or any other country follows the same protocol and could be referred to as a one size fits all scenario.

Traditionally you can either send money in two ways;

• The WorldRemit app or 
• From an agent location.

Considering the ease of doing things most users prefer the mobile app since you do not have to travel down to an agent location whatsoever.

To send money from an WorldRemit Agent location

• Indicate your intention at the agent location,
• You will be required to complete a transfer form
• Endeavor to provide the receiver’s name and phone number at the appropriate column

Note: If you capture any other name other than the receiver has on his/her valid ID card in Nigeria such transfers may experience delay and would not be paid out.

It’s advised that the receivers should send their complete name as contained on their valid ID card in Nigeria suitable for money transfer namely (National ID card, Voter’s card, International Passport, driver’s license and the BVN).

• Hand in the transfer amount to the agent
• The agent will process the transfer, thereafter you will receive the transaction details, usually the “8-digit” reference number, amount being sent and the sender’s complete name.

The receiver will receive a transaction alert on their mobile phone since it has been inputted on the system during transaction processing, in a situation they could not get a beep, kindly forward every necessary details across since they’ll need them for cash pick-up at any of the participating banks location in Nigeria.

Note: WorldRemit uses the “OTP” as a secondary security layer for a payout and why you must ensure the receiver’s phone number is correctly captured during transaction processing at the agent location.

To send money from your WorldRemit app

This is the easiest means to effect a transfer so far, to do this

• Kindly visit Google Play Store and download the “WorldRemit app” available on both IOS and operating systems.
•  Having downloaded the app, you will need to sign up at once
• On successful sign up, kindly login to commence your transfer

Note: You are required to link your credit/debit card from where you are expected to pay for your remittance, hope that’s clear? Good.

• Click on the menu, tap on “How it works” enter the amount you wish to send and pick a delivery option either bank account or cash pick-up.

Where a bank account is preferred, the receiver will have to withdraw the remittance across the counter without visiting the money transfer department in Nigeria (banks).

Remittance can now be received in USD.

Banks that Supports WorldRemit in Nigeria

There are basically 5 participating banks namely: 

• Polaris bank, 
• First bank, 
• Access bank, 
• Fidelity bank and 
• GTBank.

If the receiver has an account with any of these banks, the money will be deposited in USD by creating an automatic Dollar account for such customers, all they’ll do is simply walk into the branch, fill a withdrawal slip and complete a withdrawal “asap.”

• In the next column, kindly enter the recipient details: complete name, phone number, and destination.
• Add your personal information as seen on the app
• Link your card and complete your payment
• On successful completion “8-digit” transaction reference will be generated alongside other details.
• Kindly forward same to the receiver in Nigeria or any other country with which he/she can claim the money at the bank.

How to Receive Money from WorldRemit in Nigeria

It is assumed that you have either received the transaction details straight to your mobile phone or you have received from the sender, or both. Whichever happens first, what matters is that the information has been received. 

It’s time to proceed to the bank for your Cash pick-up.

Requirements for WorldRemit cash pick-up

• Transfer 8-digit reference number
• Sender complete details (name)
• Amount being sent
• Valid ID card (Voter’s card, National ID card, Driver’s license, International Passport and BVN) any of the listed ID’s can serve.
• A mobile phone number linked to the transaction

In Nigeria the only authorized agents are banks, so you are expected to visit any of the participating banks mainly Polaris bank, First bank, Access bank, Fidelity bank and GTBank.

Note: Receipt method is strictly dependent on the preference made by the sender while routing the remittance. It could be via bank account or cash pick-up.

• Where a bank account is the case:

You are required to visit the advised bank by the sender/WorldRemit, on arrival you will have to complete a withdrawal slip just like when you intend to withdraw from your naira account.

The difference here is that the currency and the amount column should be completed in USD, both in figure and words. Hand over the slip to the paying teller who should complete your payment without delays.

• Where you have been advised on cash pick-up

Kindly walk into any of the aforementioned banks, except where a particular bank is being advised. Enquire to see the money transfer teller.

You will be required to complete a WorldRemit transfer form, complete the form while paying attention to details. Return the same to the teller with your valid ID card having completed.

The teller verifies the ID and crosscheck your form against the transfer details on the system, where every other detail is in the right order. 

Payment processing will send an “OTP” to your mobile phone number linked to the transfer initially.

You are required to communicate the “One Time Password” to the paying teller who inputs the same in the column required on his/her system to complete your payout finally.

Having completed the payout you will receive cash in USD.

Note: You are not to be paid in naira or any currency other than the USD at this time.

Take your money to the parallel market for exchange and start spending, do not forget to buy me a bottle of Coke afterward (smiles).

Frequently asked questions on WorldRemit transfers

Q1. WorldRemit transfer daily/limit to Nigeria?

Unlike other money transfer platforms, you can transfer as much as $5000 per transaction to Nigeria without weekly, monthly or quarterly restrictions. However, you will be required to provide additional information on the WorldRemit app for your “KYC” if you wish to send higher limits.

Q2. How to track/correct WorldRemit receiver details

There’s always a need to track your transfer to ascertain its status either available for payout or already paid out, there’s likewise a room to track and correct WorldRemit receiver details where there’s an error in receiver’s name which may delay a payout in Nigeria.

Given this, the receiver is expected to provide the sender with the right name sequence as seen on his/her valid ID card.

Q3. How long does WorldRemit take to Nigeria?

Transfers to Nigeria and other countries are usually instant without delays, the receiver can cash out the same day in event the money is meant for high priority reasons like medicals, travel, etc.

Q4. WorldRemit bank transfer?

You can actually receive a transfer via any of the participating banks as mentioned earlier. The money could be sent and an immediate account opened IRO your transaction or as cash pick-up across the counter.

Q5. Which other method can I use for Money Transfer Except WorldRemit in Nigeria?

You can try platforms like Payoneer, Remitly, Ria Money, MoneyGram etc…. (Check here for other methods)

Conclusion: You Can Start Using WorldRemit to Send & Receive Money

WorldRemit transfer is a competitive brand that has gained users over the last few years giving to its effective, secure, safe and swift service delivery enshrined in a seamless user experience. Money transfer has never been this easy.

Have questions on this topic you’d need clarity or on money transfer generally? Let’s get talking via the comment box.

About Guest Author

Raphael Orji is a freelance writer, content marketing strategist with unique experience in banking , finance, and money transfer. He works with small businesses, start-ups and entrepreneurs in building brand image with quality content marketing strategy. He blogs over Fintechngr.

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