With Nigeria being one of the largest recipients of remittances globally, the need for affordable, reliable, and fast ways to send money to Nigeria has never been greater. In 2023, Nigeria received an estimated $27 billion in remittances, making it the 5th largest recipient among low and middle-income countries. For Nigerians living and working in Italy, sending money home to support family and friends is a crucial part of their lives. However, traditional methods, like banks, come with high fees and can complicate the process.
In this article, we will explore the best ways to send money to Nigeria from Italy. We'll also give you helpful tips to make your transfers smoother, ensuring you get the best rate and the most efficient service.
The challenges of sending money to Nigeria
How to transfer money to Nigeria safely?
How to transfer money from Italy to Nigeria with Profee?
The challenges of sending money to Nigeria
When sending money from Italy to Nigeria, the process can often be complicated by high fees and slow processing times. According to the Migration Data Portal, in Q4 2023, banks charged an average of 12% per transaction globally, making them the most expensive channel for remittance transfers. These fees can significantly eat into the amount of money that reaches your loved ones in Nigeria.
Additionally, Nigerians often face currency exchange issues and a lack of transparency in the total costs involved. To avoid such challenges, more people are turning to online money transfer services, which offer faster, more affordable, and transparent options.
How to transfer money to Nigeria safely?
Ensuring that your money transfer from Italy to Nigeria is both safe and secure is crucial, especially in today's digital world. Whether you're sending funds to support family, cover expenses, or for business purposes, here are specific steps and tips to maximise security while using online platforms like Profee. These steps apply whether you're learning how to send money to Nigeria for the first time or are an experienced user.
1. Use a reputable service
When deciding how to transfer money online to Nigeria, always choose a well-established service with a proven track record. Profee is one such service, offering strong security features like encryption and multi-factor authentication to keep your money and personal information safe. It’s also important to ensure the platform is regulated by financial authorities, adding an extra layer of trust.
2. Verify your recipient’s details
One of the most common issues people face is sending money to the wrong account due to incorrect details. Before completing your transfer, double-check all recipient information, especially if you’re figuring out how to send money from Italy to Nigeria bank account. Make sure the name, account number, and bank name match exactly, as errors could delay your transfer or lead to it going to the wrong person. Always confirm these details with your recipient.
3. Avoid public Wi-Fi
When making online transfers, it's tempting to use public Wi-Fi for convenience. However, public networks can expose your data to hackers. If you're learning ways to send money to Nigeria safely, make sure to use a secure, private internet connection. If you must use public Wi-Fi, consider using a Virtual Private Network (VPN) for an added layer of protection.
4. Monitor exchange rates
Getting the best rate to send money to Nigeria not only maximises the amount your recipient gets but also ensures you're not being overcharged. Using a service like Profee allows you to monitor real-time exchange rates and lock in the best available rate before sending money. This can prevent hidden costs or exchange rate fluctuations from eating into the transfer amount.
5. Enable notifications and transfer alerts
Many money transfer platforms offer real-time notifications. By enabling these, you can receive updates when your transfer is initiated, processed, and received. This gives you peace of mind and helps ensure that there are no delays or issues. For example, when you're using the best app to send money to Nigeria like Profee, these notifications can immediately alert you to any problems so you can take action quickly.
6. Beware of phishing and scams
Phishing attempts are one of the most common online fraud schemes. Fraudsters may send emails or messages pretending to be from your money transfer service, asking for personal information. Always check the sender’s email address, and never provide sensitive information like passwords or PINs through unsolicited communications. When using services like Profee, ensure you are on the official website or app to avoid falling victim to fraud.
7. Use strong, unique passwords
When registering an account to figure out how to send money to Nigeria, use a strong, unique password. Avoid simple passwords like "123456" or "password," as these are easy for hackers to guess. Also, make sure to update your password regularly and avoid reusing passwords from other accounts.
8. Regularly monitor your accounts
After completing a transfer, it’s a good idea to check both your own card or account and the recipient’s bank account to ensure everything went smoothly. Regularly monitoring your accounts can help you spot any unusual activity early and take action if necessary.
9. Choose trusted payment solutions
When using ways to send money to Nigeria, ensure the platform you choose offers trusted payment solutions like Profee. Avoid using lesser-known or non-secure payment options that don’t offer protection against fraud.
All data passed between Profee mobile apps, our servers, and third parties use certain SSL encryption protocols. Profee is PCI DSS Level 1 Service Provider certified – we ensure the security of card data according to the international standards.
How to transfer money from Italy to Nigeria with Profee?
To transfer money from Italy to Nigeria using Profee, follow these simple steps:
- Register your account: Start by signing up with your mobile number and email. Registration is quick and straightforward. After confirming your details, you may increase your limits to send as much money as you need.
- Enter the transfer amount: Specify either the amount you wish to send or the exact amount your recipient will receive in naira. Profee’s transparent interface shows the terms upfront, so there are no surprises. As of now, you do not need to pay any fees for sending money to Nigeria from Italy or any other European country.
- Select a payment method: Choose to send money directly from your Italian bank card. This eliminates intermediaries and simplifies the transfer process.
- Input recipient details: Provide the recipient’s bank account number and bank name to ensure the funds are delivered securely.
- Confirm the transfer: Finalise the payment and enjoy an additional layer of protection.
Sometimes, Profee may request further information as part of standard security checks to ensure the transfer is fully compliant with regulations.
By following these steps, you can ensure your money transfers are safe, secure, and reliable. Whether you're sending a one-time payment or making regular transfers, platforms like Profee offer the best way to send money to Nigeria. With features like low fees, fast transfers, and secure processing, it's no wonder Profee is considered one of the best apps to send money to Nigeria.
