Money is transferred from one person to the other every day. There are numerous reasons why people send money to others. It could be their friends, the government, etc. When it comes to international money transfers, some key features determine the best provider for you. Although tons of international transfer providers exist, WorldRemit is the fastest one while VertoFX is the most affordable. If you are looking for the best provider in terms of pricing, speed, and reliability, check out WorldRemit. However, if you cannot access it, you can use VertoFX. 

Here is an article on the type of structures recognized by the government. If you want more information, you can go to the website. 

Methods of money transfer

The ways of transferring funds discussed in this article are categorized into two. 

Cheapest way transfer

Transfer cost depends on the value of the transaction and the money the receiver is to receive. VertoFX is a provider that charges little fees and has affordable exchange rates. To learn more about the rates, go to the website. 

Fastest way transfer

When sending funds abroad, speed is an important factor one needs to consider in terms of the service provided by the numerous transfer providers in the market. WorldRemit is the fastest way to send funds from the country to Nigeria. 

Payment methods available

Almost all providers support deposit and transfer via numerous payment methods, yet they do not offer all options. The popular methods used by individuals and Corporations are bank transfers and card payments. Although, some providers may accept cash in some cases. 

Transfer via credit card

If you want to prevent high charges during transactions, you may choose to use WorldRemit, paying with your credit card. Go to the website to learn more about how to transfer funds with a credit card. 

Transfer via debit card

On WorldRemit, users can send funds online to the desired account using their debit card. However, it is recommended you understand the process and know the fees to be charged before using it. To learn more about this service, visit the website and joined the ground. 

Bank and Wire Transfer

The common ways of sending funds are believed to be secure, reliable, and convenient. However, they have the slowest delivery times and hidden charges. With an account transfer, you pay for the outgoing fees, flat fees, currency exchange rate markup, and sometimes a transfer fee. Transfer via wire transfer could require a SWIFT code to complete the transaction. Use rate alerts when you want to send large funds and can wait patiently for a favorable exchange rate. 

Requirements 

The details listed below are required when you want to send money overseas.

• Register name and address 
• Bank details such as the account number, bank routing number, etc.
• The sender’s name and account number
• Reason for transfer
• Sender and beneficiary’s relationship 

Transfer online with Azimo

Aside from its transparent fee, it has the best exchange rates on the market. You can top up a relative’s mobile phone. Only works with the most trusted financial institutions in Nigeria such as Access Bank and Citibank, which means that your transfer is safe. You may check out the Azimo pricing page.

Avoid using your bank 

There are several banking institutions in the state, such as the National Australia Bank (NAB) and Westpac. Though transferring money from your bank might be cheaper and easy, avoid this costly method as Banks are good at hiding fees. Note that all Australian bank accounts have BSB numbers, while Nigerian bank accounts use NUBAN numbers.