Wednesday, 3 January 2018

International Money Order In Nigeria: All You Need To Know


Ever wondered how international money order works?
Or asked some one what is a money order and how it works?
In this post we will take a quick look at International Money Order in Nigeria and how it works. 

International Money Order In Nigeria

International Money Order is a system that will enable you to send money to someone,usually a person that is not in Nigeria.

This can be done whenever you visit your local commercial bank in Nigeria. 
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Top commercial banks like GTBank, UBA, Diamond Bank, First Bank of Nigeria Etc are some of the banks that you can rely on to provide you with such service.

Most often your bank will partner with other third party global money transfer service companies (Western Union Monet Transfer,MoneyGram Etc) in other to provide these services. 

Listed below are services for sending International Money Order in Nigeria. 

Services For Sending International Money Order In Nigeria

1. Western Union Money Transfer

Western Union Money Transfer is the most trusted way of sending and receiving money orders in Nigeria.

Almost every commercial bank in Nigeria offer these services,Western Union Money Transfer is available in almost all branches of the top commercial banks in Nigeria such as FirstBank,UBA Etc 
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Before you can initiate the transaction,you will be required to provide some information such as: The receiver’s location and bank details,form of Identification,Cash to be sent,other questions such as security questions Etc

RecommendedHow To Open A Domiciliary Account In Nigeria

Also note that you don't necessarily need to have a bank account to be able to initiate this transaction. 

2. MoneyGram International transfer

Another agent for making international money orders is MoneyGram. 

MoneyGram is a financial institution that facilities international money orders.
MoneyGram is avialable in most commercial banks in Nigeria,all you have to do is to walk into any commercial bank Example UBA, request for MoneyGram international transfer form.

Fill in the necessary details as accurately as possible,within minutes your request will be processed.
MoneyGram however has a cheaper rate when compared with others. 

See Also: How To Get Yellow Fever Vaccination Card In Nigeria 

3. Domiciliary Account

A domiciliary account is usually an account denominated in foreign currency such as dollar, Pound, Euro Etc.

If you have a domiciliary account with any of the commercial banks in Nigeria, then placing a money order will be easier for you and you wont end up paying extra charges. 
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You can comfortably send and receive money in foreign currency. 

You can easily open a domiciliary account with Gtbank, Firstbank, Zenith bank, diamond bank or UBA.

If you have a savings account,then you can easily open a domiciliary account,most commercial banks in Nigeria will require you to have at least $100 in your domiciliary account before you can open an account. 

After opening a domiciliary account or if you already have a domiciliary account then go ahead and request for a money order transfer form,fill in the details such as the recipient’s account name, account number, name of the bank,branch name,swift code,routing number,amount to be transferred and your own personal bank details.

Your bank will process this transaction within two days,you will also be promptly notified if the transaction was successful. 

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