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  #1 (permalink)  
Old 3rd April 2008, 10:55 PM
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Default Best Way To Transfer Money From Niger To Usa

Hello,
Please i need your advice what is the best way to transfer money from Nigeria legitimately to USA. I have some money over there and I donít want to go Nigeria right now. I will appreciate everyone advice.
Thanks
Yomi
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Old 4th April 2008, 11:48 AM
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Quote:
Originally Posted by Yomik View Post
Hello,
Please i need your advice what is the best way to transfer money from Nigeria legitimately to USA. I have some money over there and I donít want to go Nigeria right now. I will appreciate everyone advice.
Thanks
Yomi
Transfer legitimately through the bank. Make inquiries from the top Nigerian banks. I know that UBA have a representative office in New York.
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Old 29th April 2008, 05:06 PM
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use wester union.
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Old 29th April 2008, 10:29 PM
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If you have a domiciliary account with any of the banks .You can do a wire transfer.
I recently transferred money through UBA from my domiciliary in UBA to my bank of america. It is just like any wire transfer. Only problem is you need someone to convert the money to dollars and pay it into your domiciliary account. The bank won`t do it for you.
I know someone who also did the same with GTB.
I have heard that skye bank may be able to change the naira to $ and do the wire transfer through your domiciliary account.
To cut a long story short you need a domiciliary account
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Old 9th May 2008, 03:12 PM
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For Guys that stay outside the country especially those in the UK - Alanbow, Abinishio, hispy99, ttoladele, Miss risky (I wonder where she is), Tummy98 etc I would really like you to contribute. I really need this info. Which is the best way to send money to the UK. How long do htese processes take. I just wired some monies an account with Bank of America thru GTBank about 3 days ago and they have not seen it yet. Is this normal? Is there a faster route?
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Old 9th May 2008, 04:14 PM
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Originally Posted by Apache View Post
For Guys that stay outside the country especially those in the UK - Alanbow, Abinishio, hispy99, ttoladele, Miss risky (I wonder where she is), Tummy98 etc I would really like you to contribute. I really need this info. Which is the best way to send money to the UK. How long do htese processes take. I just wired some monies an account with Bank of America thru GTBank about 3 days ago and they have not seen it yet. Is this normal? Is there a faster route?
I am not in the UK but i guess i can contribute. I usually use Access bank to make transfers to my pounds sterling account in the UK. It is usually credited within 2 business days. Infact i did one today. With online banking i can track my UK account, so i know when the account gets credited.

I have been using Access for the past 4 years with no problems at all. But u have to use ur dom account and the maximum at any one time is $5,000 or equivalent.
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Old 9th May 2008, 04:45 PM
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Quote:
Originally Posted by zainabusman View Post
I am not in the UK but i guess i can contribute. I usually use Access bank to make transfers to my pounds sterling account in the UK. It is usually credited within 2 business days. Infact i did one today. With online banking i can track my UK account, so i know when the account gets credited.

I have been using Access for the past 4 years with no problems at all. But u have to use ur dom account and the maximum at any one time is $5,000 or equivalent.
But what if I don't have a UK account. I need to make a payment to one of these Universities in the UK and time seems to be running against me. I am new to this wire transfer stuff. Just got a dorm account with GTBank (I thought it will be easier through them since they are in the UK. I used the US transfer to test the ease of transaction but I am not comfortable with what I am seeing.
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Old 9th May 2008, 06:19 PM
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Originally Posted by Apache View Post
But what if I don't have a UK account. I need to make a payment to one of these Universities in the UK and time seems to be running against me. I am new to this wire transfer stuff. Just got a dorm account with GTBank (I thought it will be easier through them since they are in the UK. I used the US transfer to test the ease of transaction but I am not comfortable with what I am seeing.
If u are paying school fees, then what u need is a form A. U can do it from any of the banks. However, most banks will prefer to issue you a cheque in favour of the school.
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Old 9th May 2008, 06:42 PM
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Originally Posted by zainabusman View Post
If u are paying school fees, then what u need is a form A. U can do it from any of the banks. However, most banks will prefer to issue you a cheque in favour of the school.
a few yrs ago, I paid my fees by wire transfer from a GTBank dorm account.. As zainabusman rightly mentioned the max at any one time is $5,000 or equivalent.. so i had to pay in 4 instalments... i think they were sent 3 days after each other....each payment took about 2 days to get to d skool.. I got the wire transfer details from the skool. i think that included IBAN (International Bank Account No), swift code, Bank Name & Address.

@zainabusman,
can u pls give more details about the form A. thanks a lot...
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Old 17th August 2008, 10:25 AM
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Default Re: Best Way To Transfer Money From Niger To Usa

if you are paying your tuition fees then your best bet is to get the school to send you their account details which includes an IBAN number. it takes 2 working days (as long as there is no bank holiday or strike) for the university to confirm the receipt of the transfer.

like other posts have informed you, there is a limit to what you transfer at once.
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Old 18th August 2008, 10:41 AM
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Default Re: Best Way To Transfer Money From Niger To Usa

Quote:
Originally Posted by zainabusman View Post
If u are paying school fees, then what u need is a form A. U can do it from any of the banks. However, most banks will prefer to issue you a cheque in favour of the school.
Thanks Zainab for this post. I actually did this and the transfer took 1 day. The funny thing is that some of these bankers don't know about it. When I told the lady in charge that i wanted to pay about 20,000 pounds, she told me it wasn't possible. She said I will have to divide it into 4 tranches. I now asked her if she knew what a Form A was? Apparently she's "new" though she has been working there for over 2 years. Also, my friend that works in bank who is also going for his masters just paid his fees in 4 installments. When i heard it, I was like "are you crazy", you work in a bank, you should be the one telling me all about Form A. the implication of not using a form A besides the stress of having to pay in different installments is that it makes the transaction more expensive for you as you will have to have Naira changed at black market rates into FX, then lodged into your dorm account before transfer can be made unlike using a Form A in which the naira will be changed prevailing market rates and then monies sent in one transaction with no limit to amount involved as long as you have the documentary evidence for this.

@ en_y, when you want to make a wire transfer, there's a limit to which you can send however if you are paying school fees, you can pay any amount using a form A as long as you have the necessary documents stating that the amount you are paying/. you can pay below this amount but I don't think you can pay above that.
You can pay as high as 20,000 pounds in one transaction. I did that @ N235 (the N235 exchange rate includes the bank charges, VAT etc). I am not sure if a Form A is limited to only school fees transfer.

Thanks Zainab once again for this.
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Last edited by Apache; 18th August 2008 at 10:44 AM.
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Old 18th August 2008, 12:11 PM
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Default Re: Best Way To Transfer Money From Niger To Usa

Quote:
Originally Posted by Apache View Post
Thanks Zainab for this post. I actually did this and the transfer took 1 day. The funny thing is that some of these bankers don't know about it. When I told the lady in charge that i wanted to pay about 20,000 pounds, she told me it wasn't possible. She said I will have to divide it into 4 tranches. I now asked her if she knew what a Form A was? Apparently she's "new" though she has been working there for over 2 years. Also, my friend that works in bank who is also going for his masters just paid his fees in 4 installments. When i heard it, I was like "are you crazy", you work in a bank, you should be the one telling me all about Form A. the implication of not using a form A besides the stress of having to pay in different installments is that it makes the transaction more expensive for you as you will have to have Naira changed at black market rates into FX, then lodged into your dorm account before transfer can be made unlike using a Form A in which the naira will be changed prevailing market rates and then monies sent in one transaction with no limit to amount involved as long as you have the documentary evidence for this.

@ en_y, when you want to make a wire transfer, there's a limit to which you can send however if you are paying school fees, you can pay any amount using a form A as long as you have the necessary documents stating that the amount you are paying/. you can pay below this amount but I don't think you can pay above that.
You can pay as high as 20,000 pounds in one transaction. I did that @ N235 (the N235 exchange rate includes the bank charges, VAT etc). I am not sure if a Form A is limited to only school fees transfer.
Thanks Zainab once again for this.
chei, see money

Just seeing this thread for the first time. I am surprised International Ops bankers (I presume the lady you were talking to work in int'l ops) don't know what a Form A is....that is shocking. I paid my fees using a Form A and I believe you can even use this avenue to pay for your living expenses (if the school sent you a bill with the estimated living expenses).

Form A are for "invisible" transctions such as school fees, foreign professional fees, payment of technial fees (if my memory serves me correct) e.t.c
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Old 27th August 2008, 03:19 PM
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Wink Re: Best Way To Transfer Money From Niger To Usa

Quote:
Originally Posted by hispy99 View Post
chei, see money

Just seeing this thread for the first time. I am surprised International Ops bankers (I presume the lady you were talking to work in int'l ops) don't know what a Form A is....that is shocking. I paid my fees using a Form A and I believe you can even use this avenue to pay for your living expenses (if the school sent you a bill with the estimated living expenses).

Form A are for "invisible" transctions such as school fees, foreign professional fees, payment of technial fees (if my memory serves me correct) e.t.c
Hmm, Interesting - Just seeing this thread for the 1st time too.
For me i use the bank wire, it is safe, secure and resonably fast, 3-5days max.
I have used this severally and never fails (USA), all you need are the following:

1). Rounting number (receiving bank)
2). Sort code (receiving bank)
3). IBN number (receiving bank)
4). A/c number of beneficiary.
5). receiving bank address.

With these details, you can wire funds freely.

N.B - Try to wire below 100k at any one transaction to keep under the rader.

AB
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Old 27th August 2008, 05:45 PM
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Default Re: Best Way To Transfer Money From Niger To Usa

Quote:
Originally Posted by Abinishio View Post
Hmm, Interesting - Just seeing this thread for the 1st time too.
For me i use the bank wire, it is safe, secure and resonably fast, 3-5days max.
I have used this severally and never fails (USA), all you need are the following:

1). Rounting number (receiving bank)
2). Sort code (receiving bank)
3). IBN number (receiving bank)
4). A/c number of beneficiary.
5). receiving bank address.

With these details, you can wire funds freely.

N.B - Try to wire below 100k at any one transaction to keep under the rader.

AB
You mean 10K or 100K?
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Old 28th August 2008, 09:28 AM
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Default Re: Best Way To Transfer Money From Niger To Usa

Quote:
Originally Posted by hispy99 View Post
chei, see money

Just seeing this thread for the first time. I am surprised International Ops bankers (I presume the lady you were talking to work in int'l ops) don't know what a Form A is....that is shocking. I paid my fees using a Form A and I believe you can even use this avenue to pay for your living expenses (if the school sent you a bill with the estimated living expenses).

Form A are for "invisible" transctions such as school fees, foreign professional fees, payment of technial fees (if my memory serves me correct) e.t.c
Omo! how i for do na. You know say na school fees money be that. Thank God say those mean bears no see am. Those bears don show me nwee
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