The world has become a global village like never before. With technological innovations encouraging digital nomadic works, remote works, and online marketing, there has been increased need to receive money from abroad especially the United States dollar. Also, Nigerians in diaspora always send money to their families and friends at home.
Are you looking for easy ways to receive dollar in Nigeria? In this article, we have compiled and explained different means you can receive dollar and any other major foreign currencies in Nigeria.
How to Receive Money from Abroad in Nigeria
- Bank Transfer
- Cash Pick-up
- eWallet
- Gift Cards
Bank Transfer
Bank transfer is one of the commonly used methods of receiving dollar in Nigeria. Such transfer will be made to your local bank account or dollar denominated domiciliary account. Read how to receive dollar into your local naira account.
Cash Pick-up/International Money Transfer Operators
You can receive dollar through international money transfer operators. You don’t need bank account or digital wallet to receive dollar payments through international money transfer operators. International money transfer operators such as Western Union, MoniGram, etc, partner with conventional deposit money banks (commercial banks) to carry out their services. When one sends you money through any of these international money transfer operators, all you need to do is to walk into any commercial bank in Nigeria with the information the sender provided to you and cash your money.
eWallet
An eWallet or digital wallet is a software-based electronic Alternative Payment Method, APM which allows individuals, businesses to receive payment, send money, pay for online transactions. eWallet is commonly available through mobile apps. To use eWallet to send and receive dollar, or make payments in dollar, such eWallet must be one that offers cross-border payments services. Some of such eWallets available in Nigeria are ALAT by Wema, FlutterWave, Payoneer, Google Pay, Chipper Cash etc
Gift Cards
Although, gift cards are basically meant to be used to shop online, but for the fact that it’s transferrable, you can convert to cash gift cards you received from abroad by selling it to gift cards buyers. When you sell it to buyers in Nigeria, they either pay cash in dollar or it’s naira equivalent. See List of Top 15 Gift Cards to Sell in Nigeria and Where to Sell Them at Highest Rates