In those days the use of piggybank or kolo was what many of us to save our money, but as science and technology have improved along with saving and investment. One of the improved ways of saving and investing is PiggyVest.
In this way, I present How to save and invest with PiggyVest and get huge retunes.
Saving and investing is an important aspect any person who thinks of the future will engage in. In those days the use of kolo or Esusu to save money required discipline as emergency fund might come which will require the person to break the time period of saving his or her money or the person might be tempted to spend the money unnecessary.
PiggyVest provides you with the option to save your money in a strictly locked day to be released on your set date. It also provides you with the option to save either daily, weekly or on your desired day and amount. You can also join other people to save money on a fixed amount it could be towards the year ending or in a 5 month period.
In today’s world we have financial institutions such as the bank, fintech companies, and other saving and investing opportunities that can help you save your money toward setten goals it could be to start a business, pay for school fees, pay for house rents, travel abroad or something else, PiggyVest provides you with all these options and many more.
And fast forward to this present age you don’t need to be there physically to save and invest your money. They are online saving and investment opportunities that you can do comfortably online right now either with your Smartphone or laptop without being physically there. PiggyVest is a saving and investing app that gives you such advantages to save your money and also invest your money on profitable platform with added interest and bonus.
How to save and invest with PiggyVest and get huge retunes
What is Piggyvest?
PiggyVest is a registered online and App saving and investment platform. Founden by co founders Joshua Chibueze, Odunayo Eweniyi, and Somto Ifezue. Launched in 2016 formally known as piggybank.ng. PiggyVest is the first saving and investing platform in West Africa.
However piggybank.ng launched only as a saving platform in 2016 when it was known by its formal name Piggybank.ng, as at April 2019 they rebranded to PiggyVest making saving and investing accessible to its users.
Adding investment to its features, PiggyVest has been associated with different banks in West Africa making saving and investing with PiggyVest secure, available and easy for its users.
What does PiggyVest do?
PiggyVest helps its, users, to save their money and invest through the easiest method. What this means is that with PiggyVest you can save your money in form of daily contribution either daily, weekly or at your desired time with your own fixed price, it could be 500 naira daily or more or less while still having the option to redraw your money at your fixed time.
Simply if you want to save money for projects, business, school fees, to travel abroad or any others thing and you are not sure you can save it on your own without spending it. PiggyVest would help you do that while giving you interest, bonuses while you save your money.
While in the investment platform PiggyVest gives you the opportunity to invest your money in Profitable platforms like farming, fishing, transportation and so on. With a starting of 5000 naira after the investment duration, you would be given back Your money along with 25% interest. While giving you the option of not Only saving but getting more than you save with their investment platform and you can also go for the mature plan for bigger interests.
How to create an account and register on PiggyVest
Step 1: Visit the PiggyVest official website https://www.piggyvest.com on your phone or PC.
Step 2: once on the home page, click on the create free account button.
Step 3: After that, you will be redirected to a form where you are required to fill in your details such as your full name, email address, phone number, and password. Click on the create account button when done. Take note of your email and password as it will be used regularly when using the app.
Step 5: Login in to your PiggyVest account, click on the login option and type your phone number or email used in creating your PiggyVest account and type in your password in the next text box. Then click on the Login button.
Do I need to give my BVN to PiggyVest?
Yes, to begin investing and saving your money on PiggyVest you are required to give your BVN details reason being that with your BVN PiggyVest would be able to carry out a smooth transaction of the money you save to your bank account and also make saving faster and easier. Note that PiggyVest would also require you to give your bank account details.
What Licence does PiggyVest have?
PiggyVest is licenced by the NDIC and CBN to ensure security to all the funds deposited on the PiggyVest account.
Can PiggyVest be trusted?
PiggyVest can be trusted as it has helped millions of Nigerians gain wealth through saving and investing.
Is PiggyVest approved by CBN?
PiggyVest is approved by the CBN as a matter of fact PiggyVest is seen as a microfinance bank to help Nigerians save and invest.
Is PiggyVest approved by NDIC?
PiggyVest is approved by NDIC, and have been recognized as a major fin Tech app in Nigeria and one of the First saving and investing platform in West Africa.
Can I use PiggyVest without BVN?
No, you can’t use PiggyVest without BVN, you are only required to give your BVN details once after that you wouldn’t be asked again. Every individual who has benefited From the PiggyVest platform have given their BVN details when registering.
How to verify your BVN on PiggyVest
To verify your BVN
Step 1:Select “My account” This option is located at the end of the page.
Step 2: Select My BVN setting
Step 3: Add your BVN number “11 digits” and verify it.
Step 4: PiggyVest would verify the BVN either by calling the number associated with it or through text message.
Step 5: Save your BVN, type in your password and select Save BVN.
Now that you have learned more about PiggyVest let drive into How to save and invest with PiggyVest and get huge retunes:
Saving on PiggyVest means you want to save setten amount of money in your account either daily, weekly, monthly, or on your custom day. Without using it until the desired period.
This can be a short, medium or long time saving. After you can redraw your money directly to your bank account and use it to your need. Bonuses and interest are added to the money you save on PiggyVest depending on your duration and saving option.
While investing on the other hand on PiggyVest means you want to invest your money into the investment platform provided by PiggyVest. After investing large interest would be paid to you alongside with your money when you want to redraw it.
You can both save and invest with PiggyVest, it is important to note that you must have saved some amount of money on PiggyVest account before you can start investing.
How to save on PiggyVest
To save on PiggyVest after logging in to your account. You will need to connect your bank account to your PiggyVest account. So that you can have the autosave option available which is you can set an amount you want to be credited to your PiggyVest account at a particular day or time. PiggyVest has a lot of saving option this option include:
1. Quick Save
This feature enable to save money on PiggyVest manually. This means that you type in how much you want to deposit to your Piggyvest account. PiggyVest quick save enable you to save money for as low 50 naira at a your desired time and as you want.
With the quick save any amount you want daily or weekly, you can also set a desired day for saving. You can desired to save 500 naira daily to your PiggyVest account manually.
The Autosave option enables you to save your money automatically once you have linked your bank account details. This option help you to do either daily saying or weekly without doing it manually.
It can be done automatically once the feature is enabled. You can save your money to your PiggyVest or piggybank with just a tap and the rest day are automatic. This is good if you are interested in doing daily, or weekly saving. No amount is too small in PiggyVest.
What better way to save your money and only redraw it at a particular fixed day if not safe lock. With safelock you have the feature to save money directly to your safe lock account without redrawing it at your set date. Although you can. Break the rules but this will require PiggyVest to charge you. The longer your money stay in safelock the bigger the interest increase.
4. Target Saving
Treat saving enable to save for setten interest or goal along side with the option to save with other people or on your own with a fixed day to meet the target amount you want the save and the day you want to redraw. By meeting your target Amount you will be given interest and can redraw your money without any charges.
5. Flex dollar
Flex dollar is a PiggyVest feature that allows you to save your money in dollars and also redraw them. With flex dollar you have the option of saving your naira without any inflammation. You can also redraw your flex dollar in to your dormitory Bank account.
6. Flex naira
This is a saving wallet that saves of your interest from saving or performing one activity or the other on PiggyVest. You are given 8 per cent interest per year on the interest you save.
PiggyBank enable you to save money to your PiggyVest account either manually or atomatically from your bank account. You can also deposit money through your unique account in any POS machine or bank account.
PiggyBank allows you to redraw your money 3 times a month and after you would be required to pay setten fee. Also redrawer free days are also available. The purpose of PiggyVest is to encourage saving and investing among it users.
How to invest on PiggyVest
PiggyVest provides a platform where you can invest setten amount of money and get your money back along with your interest and bonuses at setten date. This platform is called investify.
investify provide you with the option to invest in Profitable sectors such as farming, agriculture, cattle farming, transportation, crypto currency and so on. With 5 thousand naira you can start investing with PiggyVest and Also you also go into their mature plan where you invest a bigger amount of money.
Frequently asked questions about PiggyVest
How do I delete my PiggyVest account?
If you find that you no longer want to use PiggyVest you can contact PiggyVest support on their official website or mobile app make sure you are Login to contact them and send the your request to delete your PiggyVest account.
Can I have 2 PiggyVest accounts?
No, you can’t have 2 PiggyVest account. Running two multiple accounts on PiggyVest is not possible because to use PiggyVest you need to make use of your BVN. Which PiggyVest only allow one user to one BVN.
How much interest does PiggyVest give?
The saving and investing platform available on PiggyVest gives 10% to 13% interest and can even go more. Depending on your commitment to saving and investing.
Why Choose PiggyVest over your usual Bank?
They are many reasons you should choose PiggyVest over your usual Bank account.
1. PiggyVest provide you with more discipline in saving, your usual Bank gives you access to save and redraw which is good but how many times have you actually saved? You may have a savings account but you found out that you keep spending your money unnecessarily. PiggyVest helps you improve your saving, which features like safelock and likes if others.
2. PiggyVest gives you higher and guaranteed interest, PiggyVest pays you interest of 6 to 15% while saving and more than 25% on investment. While bank pays you a maximum of 4% while still charging on ATM and alert usage.
3. PiggyVest gives you no charges such as maintenance fees, transaction fees and so on.
4 PiggyVest gives you access to save towards a goal and interest. Alongside you can join others to save and get motivated as they save towards similar goes.
Also read, How to send money abroad 6 easy ways
TikTok & Beyond: The Best Mobile Video Editing Apps
Top videos you watch on TikTok and Instagram have often been produced on full-size PCs, but with smartphones offering more-capable video editing tools, more and more people are editing videos on the mobile devices themselves. Both Androids and iPhones now have a multitude of impressive video editing apps at their disposal. Some of the apps are template-based, requiring you to do no more than select your photos and videos to produce a compelling social video. Others give you nearly as much control as a sophisticated desktop video editing app, with tools for overlays, time remapping, motion effects, and audio editing. Here’s our take on the best of the mobile video editing lot.
Adobe Premiere Rush
Adobe’s well-designed mobile app for Android and iOS, Rush, syncs projects to your Creative Cloud account so you can continue editing a project on Premiere Pro on the desktop, but you can use it for standalone mobile editing, too. Versions of Rush itself are available for macOS and Windows, as well. You can shoot video in the app either in a simple or advanced mode, which lets you manually set aperture and focus. Once you’ve got some content, you can add titles, soundtrack music, and graphics overlays. For vertical output like TikTok, the Auto Reframe finds the active area of landscape shots and crops accordingly. The standard adjustments for lighting and color are at your disposal, and you can add track overlays and speed changes. One thing you won’t find are project templates like those offered by other apps here. After rendering a project, you can export it directly to Behance, Facebook, Instagram, TikTok, or YouTube.
Adobe Premiere Rush Review
iMovie was among the first truly functional mobile video editors. The way it handles timelines, letting you scroll the track with your finger rather than moving an insertion point cursor like you have to do on desktop video editors, was a major helpful innovation. The app—which is only for iOS, of course—lets you manage all the standard video joining and trimming as well as tackling more advanced video editing, like green-screen compositing and speed altering. Among our favorite iMovie features is its Trailers templates, which show you exactly what kind of shots to insert. Another plus—you can continue editing projects on a desktop Mac in iMovie or Final Cut Pro.
Only available for iOS.
Canva targets small business owners who want to up their social media game to promote products and services. It’s completely template-based and loaded with stock content so that you don’t have to worry about being a pro editor to make things look nice. It lets you make something without needing a single shot of your own. But you can, of course, use your own video clips and photos, as well as do fancy things like stacking simultaneous videos in a vertical layout or use overlays that you can crop. That said, the app lacks some basic video editing features like adjusting light and colors. You can think of it more as the video equivalent of a graphics design application, with strengths in text, shapes, and borders. Canva is available for free use, but many of its features, stock content, and templates require a Pro subscription, which also adds collaboration features for design teams.
CapCut Video Editor
This well-designed free app (owned by TikTok creator ByteDance) makes short work of creating shareable videos, thanks to its ShortCut option. With CapCut, you select clips and photos, and the app adds background music and effects. It added a video shake effect and flame overlays to one test video, but it took a couple minutes to render 30 seconds worth of clips on my Samsung Galaxy S21 Ultra. You can split clips, add text, remove backgrounds from shots with people, and even use overlays with transparency. When you’re done, the suggested place to share your work is —you guessed it—TikTok.
Available for both Android and iOS.
InShot is a fun-looking app that lets you produce not only video compilations but also collages and photo edits—but that doesn’t mean it’s weak in video tools. When you start, simple help tips show you how to split and trim clips, zoom in on the timeline, and swap clip positions. One of its strengths is that it gives you a number of stickers to overlay on your videos, in addition to text. Unlike competing video app Splice, InShot lets you easily position your overlays either by dragging the item around with a finger. Picture-in-picture, masking, cropping, and speed changing (including one-click freeze frame) are all at your disposal, as are a generous helping of transition styles. Surprisingly, the app even offers keyframe editing, which lets you animate effects. Background music is available to add from a decent library of stock, but there’s no image stock. The app is free with ads and watermarks on your output; you can remove ads for a one-time $3.99 or better, remove both ads and the watermarks—as well as getting more effects and stickers—for $2.99 per month, $9.99 per year, or $29.99 for forever.
Available for Android and iOS.
Splice has just about the slickest interface of any mobile video editing app, with a clear workflow and all the tools you could want. You can easily create picture-in-picture overlays (with transparency), chroma keys, masks, and speed changes. The app also supports HDR output. Nifty transitions are at your disposal as well as glitch and vintage effects and tons of text styles. You don’t get quite as much stock content or objects to overlay as you do in PowerDirector’s mobile app, though Splice’s music library is excellent. The price, is a bit steep, however, starting at $2.99 per week or $9.99 per month.
Available on Android and iOS.
Vimeo is the video hosting service used largely by movie and video professionals. In addition to hosting videos, the company puts out a screen capture program called Vimeo Record and a mobile video editing app called Vimeo Create. Vimeo Create makes it easy for marketers or just regular folks to put together a compelling piece of video. The template-based app is free, but some templates require a $24.99-per-month Pro account. Accounts can also take advantage of stock libraries of video and music. Luckily, you can filter template options to find the free ones. Adding video can be slow, but the app emails you when it finishes processing. The app lets you add stickers and text with animations, and it automatically applies template-based transitions. It doesn’t offer much in the way of detailed editing options like keyframes, overlays, or time remapping. Many of the stickers and styles are suitable for creating engaging sales and marketing quick takes, so this highly automated tool is best suited for people in those fields who want to produce something good-looking without getting into the weeds of video editing.
Available only for Android.
Google founders earn $42 billion in 100 days
Founders of the internet search engine, Google Larry Page, 48 and Sergey Brin, 47 have earned $42 billion dollars in the first quarter of 2021.
With a total worth of $104 billion, Page has earned $21.2 billion in 100 days, while his founding partner, Sergey Brin, with a wealth valuation of $100 billion, has earned $20.4 billion in the same period.
The majority of Larry Page’s wealth comes from his stake in Alphabet, the parent company of Google. The Standford trained entrepreneur currently holds $12.6 billion in cash.
Sergey Brin’s wealth valuation is also derived from his stake in the world’s most popular search engine and presently, his cash holding is valued at $12.7 billion, Nairametrics noted.
The growth of the United States economy is said to have boosted the buying pressure on Google shares, leading to a surge in the founders’ gross income and wealth.
Global investors are increasingly holding on the tech juggernaut’s shares as amazing economic data from America’s service industries coupled with an advance in the tech sector fueled the hike in Google shares seen in recent months.
After winning the long standing US Supreme Court case against Oracle, financial reports note that investors consequently invest significant amount of funds into Alphabet Inc. the parent company of Google.
The search engine’s recent price action reveals the stock presently, is trading at $2,285.88 closing its 52-week high of $2,289.04 with a yearly return on investment currently pegged at 89%.
Stock experts have expressed surprise by such record gains in Google shares despite a swift move seen lately by some institutional investors into utility, energy-based stocks and of late U.S Treasury bonds.
Alphabet Inc currently is said to have a market value of about $1.54 trillion.
The recent earnings of Page and Brin at $41.6 billion, is collectively much more than the total foreign cash reserve holdings of Africa’s biggest economy.
It also surpasses Nigeria’s foreign cash reserve which stands at a gross valuation of $35 billion by $6 billion.
GoDaddy security breach exposed 1.2 million WordPress users
GoDaddy, a web hosting company, stated on Monday that an unauthorized third-party access had exposed the email addresses of up to 1.2 million current and inactive Managed WordPress customers.
The problem was detected on Sept. 6, according to the company, and the third-party accessed the system using a hacked password.
The company, whose stock dropped 1.6 percent in early trade, said it had blocked the illegal third party immediately and that an investigation was ongoing.
What GoDaddy is saying
Chief Information Security Officer Demetrius Comes said in a filing. “We identified suspicious activity in our Managed WordPress hosting environment and immediately began an investigation with the help of an IT forensics firm and contacted law enforcement.”
The document also stated that the required credentials had been reset and that it will work with users to provide new SSL certificates. The company expressed their regret for the event and the distress it has caused its customers.
“We, GoDaddy leadership and employees, take our responsibility to protect our customers’ data very seriously and never want to let them down. We will learn from this incident and are already taking steps to strengthen our provisioning system with additional layers of protection.”
What you should know
This isn’t the first time GoDaddy has been exposed to a security breach. An AWS error exposed data on GoDaddy servers in 2018, and an unauthorized person compromised 28,000 user accounts in 2020. GoDaddy was also mentioned in a cyberattack that brought down a number of cryptocurrency-related websites last year.
How to Send and Receive Money in Nigeria
How to Send and Receive Money in Nigeria
A lot of people have been wondering how to receive funds from their business partners, colleagues, friend, and family member from outside the shores of Nigeria. If you have a friend or family members, or business partners from outside Nigeria from whom you intend to receive monies. Or you are an exporter, looking for ways to get your payments from the United States, Canada, Jamaica, UK, Germany, Australia, China, UAE, Turkey, Malaysia, Indonesia, Philippines, Pakistan, India, Cameroun, Kenya, South Africa, etc to Nigeria, read on for we are to give you a step-step guide on how to get your funds across to Nigeria.
From the recently released Central Bank of Nigeria guideline on international money transfer, it is a lot easier now to receive money from outside Nigeria into your bank account or mobile money wallet in Nigeria, than it is to send money out of Nigeria. From the guideline just released by the CBN, there is no limit to the amount of cash one can receive from out Nigeria, but you cannot send more than $2000 or its equivalent per transaction.
We will be discussing; how to receive funds from outside Nigeria into your bank account or mobile money wallet in Nigeria. Continue reading as we discuss several ways to send money to Nigeria and how to receive the sent funds. We hope the following means discussed on How to Send and Receive Money in Nigeria would be beneficial to you.
Ways of receiving money in Nigeria from abroad
There are several ways of sending and receiving money from outside Nigeria, we will be looking at the following which are the most convenient ones for now.
- Domiciliary account – International Bank wire transfer
- Western Union via Quickteller to your bank account
- Western Union money transfer
- Online money transfer
Domiciliary Account – International Bank Wire Transfer
International Bank wire transfer direct into a Domiciliary account is one of the best ways to receive foreign currency in Nigeria for those who have a domiciliary account in Nigeria. Most of the banks in Nigeria have domiciliary account types for the United dollar (USD), Euro (EUR), and Great Britain Pound (GBP). Zenith Bank, UBA, First Bank, FCMB, and GTBank all have various forms of domiciliary accounts.
To receive money into your domiciliary account in Nigeria through international wire transfer, you have to have a domiciliary account in any of the local banks in Nigeria.
The person sending funds to your domiciliary account in Nigeria will require the following details from your domiciliary account to be able to send funds directly into your domiciliary account. Primary details required are:
- Your account name
- Account number
- Name of your bank
- The Address of your bank
- SWIFT CODE of your bank
- The Routing Number of your bank.
An alert of a successful transfer enters within 72 hours.
Withdrawing money from a domiciliary account
You can withdraw cash in the same currency it was sent from your domiciliary account. The process is the same as the withdrawal from your regular naira account. If you wish not to collect your cash in the currency it was sent, you can request its equivalent from your local bank.
- Go to the nearest branch of your bank once you receive an alert about the international wire transfer.
- Meet the person in charge of foreign currency transactions.
- Get the withdrawal slip, complete the withdrawal slip and hand it over for processing.
To receive western union money transfer via Quickteller to your bank account
QUICKTELLER Platform is a financial service application that allows you to purchase airtime, pay bills, send and receive money via the web (www.quickteller.com).
Follow the following steps to receive funds from Western Union using Quickteller
- Visit www.quickteller.com and signup for a Quickteller account
- Click on the Send and Receive Money tile
- Then click on the Western Union tile
- Select your bank, either Zenith, GTBank, or FCMB
- Also, select “Naira” under “Choose currency”
- Click “Receive money now” and the Western Union – Receive Money data page opens
- Now carefully enter the following details:
- Enter as provided by the sender the MTCN (Money Transfer Control Number)
- Also, enter the name of the sender’s Country
- Enter the receiving account number (i.e. your bank account number where you wish to receive the funds)
- Also, enter the receiving account type i.e. either current or savings
- Enter the expected amount in Naira as provided by the sender
- Under Receiving Currency leave the name of the bank and Naira as default.
- First Name – which is your account’s first name as it appears at your bank. (Receiving Account)
- Surname – which is your account surname as it appears at your bank. (Receiving Account)
- Your mobile number
- as provided by the sender, answer to test question
- Then click “Continue”
- Confirm the details provided”
Note: Money from Western Union can only be received from the location indicated by the sender and in the local currency. In this case, the Naira.
Receive money in Nigeria through Western union
I will use Access bank Western Union transfer as a typical example to explain to you how to receive money in Nigeria via western union.
Receive Western union Nigeria through Access Bank
Access bank has proven to be reliable when it comes to receiving money from outside Nigeria. With a robust infrastructure, technology, and several years of partnering with Western Union, they have the needed competitive edge.
To receive money from Western Union through Access bank, Access bank will request the following from you before they can process your payment;
- A valid means of identification, preferably, Passport, Driver’s License, Permanent Voters Card, or National Identity Card (NIMC).
- Money Transfer Control Number (MTCN)
- Expected Amount in Naira
- The receiver’s name, address, and phone numbers
- Sender’s name and country (for transfers coming from the US and Mexico, city to be included)
- Test Question and Answer where applicable.
The maximum send amount as stipulated by the Central Bank of Nigeria is 5000 USD or its equivalent per sender.
The steps are the same as other banks such as First Bank of Nigeria.
How to receive money in Nigeria through MoneyGram
MoneyGram International, Inc., an American money transfer company with headquarters in Dallas, Texas United States. It has local offices around the world.
First Bank of Nigeria is one of Nigeria’s banks that offers the best MoneyGram service. We will use First Bank MoneyGram service to explain to you how to receive money in Nigeria through MoneyGram
How to receive money in Nigeria through First MoneyGram
To receive money in Nigeria through UBA MoneyGram;
Beneficiaries of MoneyGram can receive transferred money at any of First Bank outlets by providing the following:
Transfer Reference Number
Acceptable means of identification (Bank Verification Number)
Sender’s name and country (for transfers coming from the US, city to be included)
Test Question and Answer (optional)
Fully completed form
Then request that the money be sent to your bank account.
How to send money to Nigeria online
There are several companies, most of them in the US that offer online money transfer services to countries all over the world, including Nigeria. A lot of businesses especially in the United States don’t send funds outside the United States. They prefer dealing with people who have an account in the United States. Most of these companies that offer online money transfers took advantage of these.
All you need to do is open a free account with them with the detail we will give you shortly and they open a virtual account for you from where you will be able to initiate international transactions from the comfort of your room.
The upside of these online money transfer services is that they are quite simple and they pay directly into your domiciliary bank account.
Online money transfers will enable you to take advantage of competitive exchange rates.
However, ensure you signup with an online money transfer service that offers fast transfer speeds.
A lot of companies that offer online money transfer to countries all over the world including Nigeria. Some of them are; Payoneer Smallwordfs, Worldremit, Transfast, Remittanceprices, skrill, etc.
To start sending money to Nigeria online
- visit any money transfer company above (Payoneer our preferred online money transfer services provider ) and Create a free account
- follow the steps for registration carefully. Provide your contact details, name, proof of identity, and bank account information (if you are not sending cash).
- Provide contact information for your transfer recipient
- Select a payment option and enter the full details of your transfer
- Keep track of the reference number or receipt you receive to monitor the progress of your transfer
- Select a cash pickup location. Companies like Western Union and MoneyGram offer the option of cash pickups from thousands of agent locations across Nigeria. From Payoneer, you can transfer directly into your local bank account or your domiciliary account.
How to Send and Receive Money in Nigeria – Payoneer (www.payoneer.com)
This is a financial services company that provides online money transfer, digital payment services, and provides customers with working capital.
Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure, and low-cost solutions, marketplaces, networks, businesses, and professionals throughout the world can pay and get paid globally, as easily as they do locally.
Payoneer’s cross-border payments platform empowers businesses, online sellers, and freelancers to pay and get paid globally as easily as they do locally.
Also, Payoneer offers to receive accounts via the Global Payment Service, which enables you to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, Canada, Australia, and Mexico directly to your Payoneer account.
Quick, easy, and low-cost access to your earnings is critical when growing your business. With Payoneer’s Withdraw to Bank Service, you can transfer funds from your Payoneer account, directly to your local bank account in over 150 countries and currencies. Our comprehensive global banking network enables us to transfer funds from a local bank in your country, so you significantly reduce the cost of getting paid and avoid delays.
HOW DO YOU BENEFIT?
- Reduce your payment fees
Increase your earnings by reducing your payment fees by up to 71%.
- Accept payment in more currencies
Accept payments in USD, EUR, GBP, JPY, AUD, CAD & MXN – as if you had a local bank account!
- Offer customers a simple way to pay
Also, offer a simple, quick, and cost-effective solution for both you and your customers!
- Get the help you need
Enjoy multilingual customer care 24 hours a day, 7 days a week!
Grow your business globally with a Payoneer account today
Visit www.payoneer.com to open an account for Free
How to Send and Receive Money in Nigeria – Wise (www.wise.com)
Wise (formally TransferWise)– is a London-based online money transfer service founded in January 2011. Wise supports more than 750 currency routes across the world including GBP, USD, EUR, AUD, and CAD, and provides multi-currency accounts.
With Wise, you pay a low, upfront fee between 0.5% and 2%, depending on the route. Wise transfers money directly to your local bank account. This makes them much cheaper compared to other providers and banks.
It is very important to note here that the most convenient channel to receive money using Wise in Nigeria is through a Domiciliary account. We have also written how to open a domiciliary account in several banks in Nigeria.
Wise is officially enrolling to be a member of the Amazon payment service provider program, which means that any business selling on Amazon can now officially use Wise to receive their sales earnings in multiple currencies.
Why businesses selling on Amazon should use Wise?
No subscription or monthly fees, only pay when you convert money
Pay invoices in over 50 different currencies
Connect your Wise account to marketplaces to receive money without converting it. Receive USD, CAD, GBP, EUR, SGD, AUD, NZD, and TRY, for free!
Integrations with accounting tools, including Xero, Quickbooks, and Freeagent
Direct Debit functionality to pay sales tax abroad (available for the US, UK, Europe, Canadian, and Australian account details)
- Wise debit card (available in select countries) to use for online payments and expenses
- Discounted fees for high-amount transactions and much more!
Visit www.wise.com to get started
This is a financial service institution based in Uk. WorldRemit offers low-cost money transfer services to several countries, including Nigeria. With WorldRemit, you can only receive money in Nigeria, but you cannot send money out of Nigeria.
How to Send Money to Nigeria using WorldRemit
- Visit the WorldRemit website at worldremit.com signup to create an account.
- Click on my account, then, click on my details to enter all your personal information.
- Select the country and amount you want to send
- Enter your recipient’s details (name, address, phone number) and bank details (bank name, IBAN number, and SWIFT code)
- Pay for your transaction using any of these options; Card (debit, credit, and prepaid), Bank Account Transfer, Poli, Interac, iDEAL, Klarna (Sofort), Apple Pay, Trustly, and Mobile Money.
Note: WorldRemit will verify you before you can send money. So, keep a government-issued ID such as a National ID, Passport, or Driving License handy. Also for the verification of your address, keep handy Utility Bill, or a Bank / Credit card statement that is not older than 3 months.
How to Receive Money in Nigeria Using WorldRemit
WorldRemit has two functional methods through which you can receive money in Nigeria; Cash pickup, and Bank transfer.
Your recipient can collect physical cash from the following banks in Nigeria; Union Bank, Access Bank, Zenith Bank, Polaris Bank, First Bank, and Fidelity Bank. Cash is usually ready for pickup at these locations within hours of transfer.
What does your recipient need to collect cash?
- Your recipient needs a Valid photo ID that shows their full name. The name on the photo ID must match the details supplied on the transaction. Ensure that you check this very well before sending funds.
- The thing you recipient need is the transaction reference. This will be sent to your recipient by SMS once the payment is available for collection. Ensure that the phone number of your recipient is accurate before creating your transaction. You can also share the transaction reference with your recipient when the pick-up is ready for collection.
This allows you to send money from your bank account to your family or friends’ bank accounts all over the world. In the case of Nigeria, Money can only be wired to a domiciliary account. It usually takes up to 2 business days before funds will arrive in your recipient DOM account.
The under-listed are some of the online money transfer cash pickup locations across Nigeria;
Worldremit transfer to Nigeria
ACCESS BANK – SABO BRANCH
Address: 290 Herbert Macaulay Way, Yaba100246, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234-01-277 0069
Address: Mushin, 118 Agege Motor Rd, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234 704 145 0672
Western Union money transfer to Nigeria
Address: 1 Agudosi Street Alaba International Market Alaba, Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-7613794
KEYSTONE BANK AKOKA
Address: 23 St Finbarrs College Rd Yaba Yaba Lagos Yaba, Lagos 234. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-7432454
SKYE BANK SHOMOLU BRANCH
Address: 6 Bajulaiye Street Shomolu Lagos, Lagos. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-2703090
Moneygram transfer to Nigeria
UNITED BANK FOR AFRICA
Address: RD NNS Quorra Harbour Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-5872143
UNITED BANK FOR AFRICA SEME BORDER – #04
Address: Abuja Badagry Express Way Seme Border FCT Lagos. Hours: 8:00 AM – 6:00 PM. Phone: +234-01-2311061
UNITED BANK FOR AFRICA
Address: Luth Road 1 Idi Araba Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-8114353
How to send and receive money in Nigeria- Things to know before sending money to Nigeria
There are a good number of things to know before you send money to Nigeria. Below, we try to point out some of these things that you need to know before initiating a cash remit to Nigeria.
- Exchange rates
Most all the online money transfer service providers skew exchange rates to make more profits. You can always compare the exchange rate you are offered with the rate in the international foreign exchange market. Always go for companies that offer the most reliable and cheapest transfer service.
1. Transfer fees
Most of the online money transfer companies charges varying transfer fees. Some of them charge a flat fee while some others charge a percentage of the total transfer sum. Also, some can even offer a fee-free transfer, while others even pay a certain percentage when you make a certain amount of transfer.
2. Payment and delivery options
Some online money transfer companies allow you to pay with a credit card, by phone, or through an app. Also, some others receive money on your behalf from your clients or business partners who are unable to remit funds to you directly to Nigeria. Others offer agent locations for cash payments and pickups.
Before you engage any of the service providers, try to confirm how the beneficiary will receive the transferred funds, whether it is through a bank account, mobile money wallet, or cash pickup.
3. Transfer speed
It is also very important to know how fast funds move. Some companies like MoneyGram and Western Union allow for speedy cash pickup, most time with hours. However, the fast the requested time of delivery, the higher the cost of funds transfer. Independent providers offer cheaper rates but slower terms of delivery speed.
4. Transfer limits:
Some online money transfer companies have a certain limit on cash transfers. Always ask to know this transfer limit. The large transfer also attracts a relatively moderate rate. Compare the rate among these companies.
5. “Hedging” options:
Ask your transfer providers if you can schedule payments ahead of time or protect your transfer funds against fluctuations in market prices with a limit order or forward contract.
6. Customer support
This is extremely important. Try to know how responsive their customer support is. In the event of delay or errors, You can contact them through phone, internet chat, or email. Know how readily available you can get assistance when you need one.
Follow the steps listed above from the service providers above and you are sure to receive your funds in Nigeria. Most of them are very simple and easy to use.
In case you have difficulty using any of the services listed, please let us know by dropping your comments, suggestion, or questions in the comment box below.
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