Welcome to Intogeek. Today we will show you how to receive money from Western Union in Nigeria. For those who don’t know what Western Union is, Western Union is a platform that helps you to make funds transfer or receive funds Internationally.
What is Western Union
We define Western Union as the leading US company in financial and communications services, now owned by First Data Corporation.
Among the many services offered by the company in question is the transfer of money (also international) between people and companies. This first service is joined by others (a set of commercial services) which we will analyze later.
Western Union Nigeria allows Nigerians to receive and send funds from/to anywhere in the world. Until a few years ago, the service was not used to transfer funds in the country, the popular method is the Traditional International Wire transfer.
With Western Union Nigeria you can transfer funds internationally with a lot of convenience to foreign accounts from Nigeria. The WESTERN UNION MONEY TRANSFER platform is a much faster and more secure means of sending money to other countries when compared to the International wire method which sometimes takes 2 to 5 working days for funds to transfer.
Western Union’s core business is the transfer of money from one country to another. In order to execute these transactions, it is necessary to go, exclusively with a valid identity document and the sum to be sent, to one of the 5,000 Western Union points present throughout Nigeria.
To transfer money, simply fill out a form and pay the established amount by entering all the necessary data (including details of the beneficiary).
Once the transition is performed, a receipt is issued containing the identification code of the transition. This must be communicated to the beneficiary, who through this code, can collect the sum sent to him in real time at a Western Union branch in his country. Western Union is available in over 185 countries worldwide.
How to Send Money?
The first step to take, even before sending the money, is to make sure and make sure you really know the recipient. This is good to point out as Western Union is a channel particularly loved by scam magicians! They use it continually in order to receive money from their victims.
This is why you must be absolutely sure that you know the person you are sending money to and that you are fully aware of why you are doing it.
Western Union: what to do before sending money?
Before sending money, you must speak directly with the person requesting this payment. This is important in order to know in which city you are sending the requested money and you will also need to know its location.
You must also verify that the exact name appears on the recipient’s ID as this will effectively check that the money is being paid to the right person.
Finally, always check that in the place where the recipient lives there is a Western Union branch and that you are able to send money to that location.
Any transactions above $10,000 US dollars/3.6 Million Naira should be recorded to Central Bank of Nigeria. There is a transaction limit for Nigeria.
How to receive Money through Western Union money transfer in Nigeria
In order to be able to receive funds in Nigerian through Western Union, It is possible to receive money by going to a Western Union branch. If you intend to collect the money in person, then you must go to the Western Union branch nearest you.
In this case you must have a valid ID with photo and with the personal data corresponding exactly to those indicated during the transaction.
To find the location closest to you, just log on to the Western Union site and search for the nearest location.
The first method of receiving money is to credit a current account. If you want to receive the money directly on a bank account, you must inform the sender and provide him with all the necessary bank details:
Current account number.
The credit will be shown on your account balance a few days after the transfer
Cashing out your cash in U.S. dollar is subject to availability of the note with your commercial bank or agent. In case US dollar is not available, the payout may be made in Nigerian Naira using the Western exchange rate at the time the payment was lodged.