Category Archives: send, recieve and transfer money

everything on sending and transferring of money

FirstBank Partners MoneyGram & charges now as low as N1,500 on money transfer abroad

I have written a lot of articles on various cheap methods of sending money abroad.

Just yesterday FirstBank of Nigeria announced that sending money abroad through the bank just got more economical with MoneyGram ‘Naija Send,’ with charges now as low as N1,500.

The bank explained that it was committed to ensuring ease, convenience and affordability for its customers, saying the reduced fee would be helpful in bringing loved ones closer, “as they do not need to worry about high cost of sending money to family and friends living abroad.”

The Group Head, Products & Marketing Support, FirstBank, Mr. Abiodun Famuyiwa, added in a statement: “Outbound money transfer through FirstBank is the way to go in sending money to loved ones abroad as the money sent can be picked up within minutes either as cash in the currencies of the destination countries or as a direct transfer to beneficiary’s bank account over there”.

“Also, there are no hidden charges as the beneficiaries get the exact transfer equivalent in the destination country. For instance, when N355,000 is sent abroad, the beneficiary gets exactly $1,000. The money is received in the currency of the destination country. In addition, there is no risk of buying fake currencies.”

MoneyGram services are available at over 750 FirstBank branches nationwide. FirstBank also stated that it has dedicated money transfer branches that open every day of the year including Saturdays, Sundays and public holidays.

Coined from thisdaylive

Thinking of a way to send money abroad; read this: How to send money from Nigeria to abroad

Thinking of a way to receive money in Nigeria; read this:  How to receive money Nigeria from Abroad today

Ecobank Raises international spending daily limit on Naira debit cards

Ecobank Nigeria announces an increase in the maximum daily limit spending on its naira debit cards abroad. The maximum daily limit increase varies according to the type of card held by its customers.

Ecobank customer with naira debit card can now pay up to $4000 and $5000 per on online transaction channel and point of sale (POS) terminals respectively across the world.

The bank also added that their customers with foreign currency debit card can spend up to $5000 daily from their domiciliary accounts

Again, Premier customers with Platinum credit cards can spend up to a limit of $15000 on daily transactions. However, these limits are subject to Central Bank of Nigeria’s annual spending limit on Naira and foreign currency denominated cards.

According to Ecobank Consumer Distribution Head, Mr. Ayotunde Kuponiyi, the changes were in response to customers’ feedback.

He says; “This is positive news for our customers, particularly for those travelling abroad for business and leisure and for our customers in Diaspora. It is very important that Customers of Ecobank access their accounts with relative ease wherever they are, within or outside Nigeria.

Mr. Ayotunde reaffirms that Ecobank customers can walk into any of the bank’s over 400 branches to pick up an instant card under few minutes. According to him, these cards are enable for value added services and online transactions both within Nigeria and abroad. He also added that foreign currency dominated cards can be accessed directly for use in transacting from the domiciliary account.

Moreover, four major Nigerian banks stopped their customers from using Naira debit and credit cards to withdraw dollars, Euros, pounds and other foreign currencies whenever they travel abroad.