How to send money from Benin to Nigeria
Benin republic is one of the countries that Nigerians visit often, because of the closeness of both countries to each other and the relationship that both nations share.
Apart from traveling to Benin republic for visits and tourism, some Nigerians go there to study , while some have found their greener pasture in Benin and have settled into life in Benin.
Those working in Benin are constantly in search of how to send money from the Benin republic to Nigeria without going through rigorous bank processes.
Luckily, they have found the use of financial technology companies to be swiffer, easier and more affordable for their international transactions
So if you need to send money from Benin republic to Nigeria, I will recommend that you use a Fintech company for your transactions, before then you need to know about some important factors to consider before you send money from Benin to Nigeria.
Factors to consider before you send money from Benin to Nigeria.
Recipient's details
Before you begin the transfer process, it is important for you to have the correct details of the receiver including his name, contact address, bank details. Make sure that all of the details are accurate because any error in the details will lead to loss of funds.
Exchange rate and transaction fee
Another factor to consider before sending money is the current exchange rate of CFA for naira, markup fee charged to exchange it and the transaction fee charged by the transfer company.
Transfer medium (banks vs Fintech apps)
Most banks are usually slow and more expensive when used for international money transfer.
So, if you want your transfer to be swift, cheap and easy, I'll suggest you use a Fintech app like OhentPay instead of the traditional bank methods.
Transfer limits
During the process of sending money from Benin to Nigeria, there may be some limitations on the amount sent or amount that can be received by the recipient.
This is usually due to the transfer medium used or the Government policies of the regions involved.
Apps that can help you send money from Benin to Nigeria
1. OhentPay
OhentPay is a globally recognized financial technology company that operates in about 190 countries using over 40 currencies to effect international transfers around the world.
It is a secured and regulated financial app registered as a money service business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
With OhentPay you can send money from the Benin republic to Nigeria and the recipient will receive the money within twenty minutes.
How to use Ohentpay to transfer money from Benin to Nigeria.
- Download the OhentPay app on Google play store or App store
- Create a free account with your email address and password
- As soon as your account gets verified, you can begin to carry out international transactions
- To send money from Benin republic to Nigeria, go to your dashboard and click on 'Send'
- Input the transaction details; the amount you're sending, the country and currency you are sending the money to
- Enter the recipient's details; their name, contact address and bank account details
- Confirm the information that you entered.
- Input the amount that you want to send and add your debit card details, so that your OhentPay account will be funded.
- Enter your pin to conclude the transaction
If the information you provided is correct, the recipient will receive the money within 20 minutes
2. ATLMoney
ATLMoney is an international money transfer service app that helps to initiate transfers from your local bank account to that of the recipient in his local currency.
The brand is controlled by Atlantique Financial Services Ltd, a company registered in London and regulated by the FCA.
How to use ATLMoney to transfer money from Benin to Nigeria
- Download the ATL Money Transfer app and register an account with them
- After creating the account, they will send you an email to activate your online account
- On your dashboard, click on Send and input the amount you intend to send
- Enter and confirm the recipient's details
- Send the money either via a bank transfer or use of your bank card
- You will receive a confirmation when you send out funds, but it doesn't mean that the recipient has gotten the money
- Most currency transfers takes about 2 to 3 days to be cleared and sent into the recipient's account.
3. Wise
Wise is an international money transfer service provider that lets you send and receive money from the comfort of your device. They offer a very competitive fee and operates in lots of countries
To use Wise to send money from Benin to Nigeria;
- Download the Wise App and create an account.
- On your dashboard, click on Send.
- Choose where you want to send from.
- Enter the amount you want to transfer.
- Input the recipient's details.
- Pay in with your debit card or transfer from your bank app.
- Confirm all the details and submit your transaction.
There are other apps like Lemfi, Greyfinance, Worldremit, Send by Flutterwave that you can use to send money from Benin to Nigeria.
However Ohentpay is considered to be the safest and because it is regulated, it uses cutting-edge financial security technology and is available in over 190 countries.
