Send bank transfers to Nigeria

Following the new directive from the Central Bank of Nigeria, bank transfers to Nigeria can only be sent in US Dollars to USD accounts. Bank transfers to Access BankFCMBFidelityFirst BankGT Bank and UBA are available. If your recipient doesn't have a USD account, their bank may automatically open a USD account for them.

Does the recipient's bank account have to be a USD account?

No. According to the new directives from the Central Bank of Nigeria, senders can enter either USD or Naira bank account details for the transfer.

  • The recipient’s account is a USD account: The transaction is processed and the money is sent to that account.
  • The recipient’s account is a Naira account: The bank may then automatically create a linked USD account for the recipient and deposit the funds there.

Does the recipient need to open a USD account to receive international transfers?

No. If the recipient does not have a USD bank account, the bank may automatically create one when the recipient receives an international transfer. The funds will be deposited there.

When will funds be credited to bank accounts in Nigeria?

It will take up to 1 hour for your bank transfer to arrive. We may need more information from you before we can process the transfer, to follow mandatory regulatory requirements. We will contact you immediately via email, if we require further information.

What currencies can I transfer to bank accounts in Nigeria?

At the moment, bank accounts in Nigeria will receive US dollars only. The bank account must be with Access Bank, FCMB, Fidelity Bank, First Bank, GT Bank or UBA and should be a USD domiciled account.

How much can I send to bank accounts in Nigeria?

You can send a maximum of USD 5,000 per day.

There may be lower limits depending on the country from where you are sending the money, along with the payment method used for the transfer. Please see the relevant sections in Payments for further information.

What information do I need from my recipient for US dollar bank transfers to Nigeria?

Full name: Enter the recipient’s full legal name. To avoid any delays, the recipient’s name must exactly match their name on the bank statement.

Address: You will need to enter the recipient’s city to transfer funds.

Account details. To enable the transfer, we need the following:

  • Recipient’s Bank Name
  • Recipient’s Account Number (Account numbers are generally 10-digits long)

IMPORTANT: The account details should refer to a USD domiciled account

Bank Verification Number (BVN). All recipients must have a BVN listed at the bank to receive international transfers. Please ensure that this step has been completed by the recipient before sending money, to ensure there are no delays with the transaction.

Mobile Number. We use the recipient’s mobile number to send an SMS notification to inform them when funds are credited to their account.

Please confirm the correct 10-digit mobile number for your recipient. For example, if their number is +234 1234567890, enter only 1234567890 in the mobile number field, without a zero as the first character.

Email (optional). We email your recipient with prompt details of the transaction. It is useful in case they have issues receiving SMS notifications.

Reason for sending money. Choose the reason for your money transfer:

  • Family or Friend support
  • Purchase of services
  • Property payment
  • Sending funds to self

Please ensure that all your recipient’s details are correct. Once you make the transaction, it is difficult to amend or stop the transfer, although we will always try our best to do so.


What happens if customers send money to a Naira account?

If the bank has enabled automatic USD account opening, the bank may automatically create a USD account for the customer and deposit the funds in the USD account.

Do all banks create USD accounts for USD bank transfers?

Rules differ amongst banks. Broadly, the banks are divided into:

  • Banks that create USD accounts automatically to complete the transfer
  • Banks that take up to 24 hours to create a USD account to complete the transfer, eg: UBA Bank
  • For banks that do not create USD accounts, senders must ensure the recipient already has a USD account

Please check with the recipient bank to know more.

How will I know if a new account was created for me?

The recipient bank will communicate the new USD account number and amount deposited using formal channels of communication between the bank and customers. Please contact your bank for more details.

How do I withdraw funds from this newly created account?

Funds can be withdrawn from any branch of your bank by presenting the account details and your identification document. The bank may also request your Bank Verification Number (BVN).  

Do I have to pay withdrawal charges from this newly created account?

Please contact your bank for further details on their charges. 

Can I receive Naira via bank transfer?

No. Funds will only be deposited in US Dollars.

Are there any limits to withdraw funds?

Customers cannot withdraw more than $2000 from their USD bank accounts. To withdraw more than $2000, kindly contact your bank. 

Can I deposit other USD funds into the account?

Please contact your bank for more details on this matter.

What if a customer has problems or questions about their new USD bank account?

Please contact your bank for resolutions or clarifications.

How do I open a USD domiciled account?

If you need a USD account, your bank (Access Bank, Fidelity Bank, First Bank, GT Bank or UBA) will be able to help you.  Generally, you will need to follow these steps:

1. Ensure you have scanned copies of your important documents, which may include:

  • Passport size photo
  • Utility bill (not more than 3 months old)
  • Bio-data page of your passport
  • ID card
  • a reference form from your bank
  • a signature mandate card from your bank

2. Go to your bank's website, and start an application for a USD domiciled account. You will be prompted to:

  • Upload your documents
  • Fill out your contact details
  • Fill out other details, as necessary

3. Wait for the bank to approve your application


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