Remitly: How to Transfer, Send and Receive Money in Nigeria Using Remitly; Transfer Limits; All you need to Know

0

Just like Wise, Western Union, and the others, Remitly international money transfer service is a payment service that allows its users to send money to any part of the world. Remitly offers an affordable, convenient and fast money transfer service which also includes a money-back policy.

This article will focus on what Remitly is, how does Remitly work, how to send money to Nigeria using Remitly, amongst others.

How does Remitly work?

Remitly is available on the web, iOS, and Android devices as they have not physical locations worldwide. First, you need to be in a country supported by Remitly service, then you can download the Remitly app or visit their website to sign up and start transferring to your family and friends.

Remitly’s global coverage is available in the following countries: USA, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Singapore, Spain, Sweden, and United Kingdom.

GETTING INTERESTING? READ: How to send and Request to Receive money using Wise (Transferwise)

How to Send Money to Nigeria using Remitly

remitly-transfer-send-money-receive-money-nigeria-banknaija-jump

Been asking yourself “what do I need and how do I send money to Nigeria?” Here it is. You need your beneficiary’s full correct name, address, phone number, and bank account.

Here is a step-by-step guide on how to send money to Nigeria using Remitly.

  • Login on Remitly website or the mobile app   
  • Go to transfer
  • Enter the amount you wish to transfer (the charges will immediately be computed and displayed)
  • Select transfer type (cash pick-up or bank direct deposit)
  • Enter your beneficiary’s information (full name must match the names on their Nigerian ID), address, mobile number, purpose, email).
  • Select payment mode
  • Send

How to Receive Money Sent to Nigeria via Remitly

There are two methods to receive a Remitly transfer in Nigeria – bank deposit or cash pickup. Your option will depend on which one your sender picked when concluding the transfer from their end.

Bank Deposit into NUBAN account

You can receive direct bank deposits only in 2 Nigerian banks. The banks are GTBank and Polaris Bank. Using this, you the receiver does not need to do anything. 

The sender must have entered your NUBAN bank account number, phone number, and other details when they are doing the transfer.

remitly-transfer-send-money-receive-money-nigeria-banknaija-delivery-method

Cash pick-up in bank

When you receive a transfer using cash pickup as a delivery method, you can collect cash from a Remitly partner bank that’s convenient for you.  This option is great if you don’t have a bank account, don’t want the money sent directly into your bank account, or you just prefer to have your cash on hand.

Here is a step-by-step guide on how to collect money sent via Remitly in Nigeria:

  1. Receive the Reference Code on your phone
  2. Go to the bank (FCMB, GTBank, Polaris, or Fidelity Bank)
  3. Fill the IMTO receiver form with the reference code
  4. Submit your ID and BVN
  5. Answer any security question (if any)
  6. Receive your cash + the CBN incentive

GETTING INTERESTING? READ: How To: Register Your Business on Flutterwave; Enable/Link PayPal on Your Flutterwave Account; FAQs

FAQS on Remitly Transfers to Nigeria

How do I download Remitly?

Remitly is available via the web and also on the mobile apps

How do I cancel a Remitly transfer?

You can cancel a Remitly transfer on the mobile app and also on the web.

Using the mobile app:

  • Open the Remitly app
  • Choose the transfer you’d like to cancel
  • Scroll to the bottom of the transfer details and tap Cancel Transfer
  • If you don’t see the option to cancel, view more details on how to troubleshoot
  • Confirm you’d like to cancel by tapping Yes, cancel
  • Select a reason for your cancelation.
  • You’ll receive a confirmation that your transfer has been canceled
  • Check out our refund details content for information on when you can expect to get your funds back in your account

Using the web:

  1. Sign in to your account
  2. Select Transfer history from the top menu
  3. Choose the transfer you’d like to cancel
  4. Click View receipt
  5. Scroll down and click Cancel your transfer
  6. Select a reason for your cancelation
  7. Once you’ve canceled your transfer, you’ll receive a confirmation from Remitly
  8. Check out refund details content for information on when you can expect to get your funds back in your account

How do I track my Remitly transfer status?

Follow these instructions to check your transfer status:

  • Using the Remitly app: Once you’re logged into the app, you’re automatically taken to a list of your transfers.
  • Using Remitly.com: Sign in to your account and select Transfer history from the menu.

When will my Remitly transfer be delivered?

This depends on how you did the transfer. 

There are 2 methods to transfer – Economy or Express. 

  • Express – Delivery is usually within minutes when using a debit card
  • Economy – 3-5 business days before your beneficiary can pick/receive the money. 

What are my Remitly sending limits?

Your sending limit depends on the type of Remitly account you use. We have Tier 1,2, and 3 accounts with Tier 3 being the highest.

Tier24 Hours7 Days30 Days180 Days
1$1,500$1,500$6,000$15,000
2$2,999NIL$10,000$36,000
3$6,000NIL$20,000$60,000

What information do I need to upgrade my Sending Limits?

  • Your full SSN/ITIN
  • Your government issued photo ID
  • Additional information about your use of our service including details of your source of funds

Tags: Remitly bank partners in Nigeria, remitly transfer, remitly nigeria, remitly app, remitly cash pick up nigeria, remitly receive money

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More