There are thousands of Nigerians who live and work in Italy. They regularly send money to their loved ones back in Nigeria to support their education, medical care, housing, and other basic needs. It is obvious that they are always looking for best ways to send money from Italy to Nigeria.
The Central Bank of Nigeria has suspended international money transfers to mobile wallets in Nigeria. This is because of a new regulation that only allows US dollar payout for remittances in the country. The suspension will improve visibility of US dollar remittance flows.
Best methods to send money to Nigeria are cheaper, convenient, and fast. One of the best ways to send money to Nigeria from Italy is Paysend. Paysend is a British money transfer service founded in 2017.
How Paysend Works
To send money to Nigeria from Italy, you need to signup on the website or Paysend app for Android and iOS. Personal information needed for registration include first and last name, date of birth, residential address, and mobile number. Make sure you input active mobile number because PaySend will text you a 5-digit security code on the phone number you provide for confirmation.
How to Pay for Paysend Transfers to Nigeria From Italy
For your transfers to Nigeria from Italy with Paysend, you can pay through a bank transfer and bank cards. To use card payment option, you only need to link your debit, credit, or prepaid card to your account and pay instantly for your transfer.
How to Receive Paysend Money Transfer to Nigeria
You are able to send money from Italy to Nigeria into your recipient’s bank account, bank card or a mobile number via Paysend Link app.
What is Paysend Link? How Does Paysend Link Work?
Paysend Link is a new way of sending money to a mobile number. With this service, you send funds or request a transfer from over 70 countries with a mobile number linked to your bank card. Your recipient will be notified about incoming transfer and will be able to withdraw it to any of their bank cards after registering with Paysend and linking their card.
How Long Does Paysend Transfer From Italy to Nigeria Take?
Most bank card transfers are instant. Transfers to a bank account, however, may take up to 3 working days for your beneficiary’s bank to credit the money.
What Are Paysend Transfer Limits?
Paysend allows you to send up to €1,000 per 6-month period without providing any additional documentation. To increase the limit, you need to apply by submitting additional documents such as proof of ID and a proof of address.
Paysend Fees and Exchange Rate
One of the most attractive features of Paysend is its fixed free structure. If you send money to a bank card, Paysend charges a fixed fee regardless of the amount you want to send. This means, if you are sending 200 EUR to Nigeria from Italy to a bank card, your fee will be 1.50 EUR. Sending money to Nigerian bank accounts from Italy, your transfer is free.
Please note, our exchange rates change on a daily basis. However, on some occasions they can fluctuate during the day depending on the volatility of the respective currency exchange markets. You will see the amount you are sending and the exact amount your recipient will receive before making a transaction.
Is Paysend Legit and Safe?
Paysend is a genuine money transfer company with a good track record with over 2 million customers. It is authorised and regulated by the Financial Conduct Authority in the United Kingdom and is a member of The European Payments Council and a registered participant of SEPA Credit Transfer. All money transfers by Paysend are certified by Visa, Mastercard, China UnionPay, and are PCI DSS certified.
Paysend is rated “excellent” by over 18,000 customers on Trustpilot. 89% of reviewers considered Paysend service excellent while 4% rated it as bad due to poor customer service, delayed transfers, lack of online buyer protection, etc.
Final Thoughts on How to Send Money to Africa With Paysend
Remittances play a huge role in supporting friends and family in Nigeria. If you live in Italy, we would recommend Paysend money transfer service to Nigeria because of its fixed fee and zero fee for transfers to a bank account. Unforatunately, Paysend does not support mobile money wallet transfers or cash pickups.