Philip was a marketing communications manager for a fintech company in Nigeria where he earned ₦300,000. Pooling this with his wife’s monthly pay of ₦400,000, they lived in a self-contained apartment that cost ₦300,000 annually.

A couple earning ₦700,000 in Nigeria in 2020 or 2021 could be said to be living comfortably. But Philip (and his wife) did not think so, because why earn ₦300,000 in Nigeria when you can earn £3,000 (~₦5.6 million) in the United Kingdom?

Many Nigerians in the UK have stories similar to Philip’s. Their move to the United Kingdom, which some Nigerians on social media have dubbed Nigeria’s 37th state, was motivated by the demand for better career opportunities and financial stability.

In fact, statistics show that 27,000 out of the 52,000 Nigerians who relocated to the UK in 2024 came on work-related visas. Even those who came on study visas still work, albeit for limited hours (20 hours per week).

So the question is: What makes the UK labour market so attractive to Nigerians? 

Green flag vs green pasture

For most Nigerians, the only thing green about Nigeria is the green stripes on its flag. The country has been stripped of the abundance of wealth those stripes represent.

So the logical option for the average person with the means is to japa from the land of corny metaphors and migrate to actual green pastures—one like the United Kingdom.

The UK’s labour market is highly functional. It has one of the highest employment rates in the world. OECD data show that the country has an employment rate of 75.3%, placing it ahead of countries such as the United States and France.

This figure represents a formal, regulated labour market, unlike Nigeria’s 73.2% which consists mostly of informal and insecure employment. The Nigerian Economic Summit Group adds perspective by noting that the formal sector in Nigeria accounts for only 7.0% of employment opportunities.

These figures show that the Nigerian labour market is already rigged against its workforce, making the UK market a natural attraction. The UK’s attractiveness is rooted in key factors such as clear career progression pathways, better working conditions, and a strong currency.

Clear career progression pathways

Amanda was an HR analyst in Nigeria earning ₦350,000/month. After the #EndSARS protest, she relocated to the UK.

Her first job in the UK was a talent manager role paying £2,800 monthly. Within two years, she was able to grow exponentially in the same company and began earning £4,500. This is the reality for many Nigerians in the UK workforce. 

The UK has structured and organised employment systems which provide workers with a clear path for progression. For instance, many UK industries have defined transparent pay bands that allow employees to know what to expect at each level or role.

Annual performance reviews provide feedback, goal-setting opportunities, and discussions for potential raises or promotions. 

In contrast, many Nigerian industries experience unpredictability in growth and employment conditions. Pay structures are often informal, with irregular income streams.

While annual performance reviews and structured promotion paths are present, they are only available within private organisations, large multinationals, or government jobs. Moreover, job descriptions can be vague or overlapping, making professional advancement unclear.

So while a UK nurse or teacher can expect incremental pay rises and promotions based on clearly communicated criteria, this is not the typical experience for many Nigerian workers.

Better working conditions

Workers in the UK enjoy benefits such as regulated work hours and strong employee protections that contribute significantly to workplace dignity and employee well-being. In Nigeria, these rights are often seen as luxuries rather than guaranteed entitlements. 

Regulated work hours in the UK prevent excessive overtime and unfair treatment. The reverse is the case in Nigeria where bosses bully employees into working overtime without compensation.

The Nigerian work scene is rife with stories of people, especially health workers, who have died during duty because they were overworked. A recent case was that of Dr Oluwafemi Rotifa who died after a 72-hour shift.

Such tragedies persist because Nigeria lacks strong employee protections. The UK, however, actively enforces these protections through bodies like the Employment Tribunal and Health & Safety Executive.

Stronger currency value

The British Pound (GBP) ranks as the 5th strongest currency in the world. This contrasts sharply with the Naira’s 143rd position. At the time of writing, £1 is approximately ₦1,910.

The high value of the British pound means that even entry-level staff can send meaningful support back home. OhentPay’s 2025 Remittance Report reveals that 65% of Nigerians in the UK earn between £15,000 – £50,000 annually, that is, £1,250 – £4,200 monthly. 

Jobs paying around the lower limit of £15,000 annually include retail cashier roles, part-time care assistants, and entry-level or part-time factory operatives. At the current exchange rate, this means a factory operative in the UK earns roughly ₦2.4 million per month—a huge jump from the approximately ₦50,000 monthly that a factory worker earns in Nigeria.

Every skill has an earning potential

Some comedians have joked that growing up, Nigerian parents recognised only four professions: doctor, lawyer, engineer, or disgrace of the family. This is because these parents believe that these jobs are prestigious and lucrative.

Though that has changed with the explosion of tech and social media, not every skill has a decent earning potential. 

In the UK, Nigerians pursue careers across multiple industries. The OhentPay Remittance survey cited healthcare (54.0%), logistics & retail (10.1%), technology & engineering (9.5%), and social care (6.0%) as the most popular industries among Nigerians.

Other industries include finance & professional services (4.3%), education & training (4.1%), and creative & other industries (1.7%). These results show that Nigerians are more concentrated in healthcare roles—they see the sector as a clear migration pathway that provides structured career paths and opportunities. 

While healthcare is the most popular, it is not necessarily the most lucrative. Technology & engineering, though only 9.5%, recorded the highest pay levels, with 10% of respondents earning over £125,000 annually. Creative industries follow at 9%, finance at 7%, education at 4%, and healthcare at 2%.  

As mentioned earlier, 65% of Nigerians in the UK earn between £15,000 – £50,000 annually, dominated by healthcare (72.3%), finance & professional services (71.4%), and education & training (63.0%).

When the salary ranges were narrowed down to professions, OhentPay discovered that 70% of full/part-time employees earn between £15,000 – £50,000. 33% of business owners and 29% of students also fall within this range.

However, students and those with disability benefits dominate earnings below £15,000, having a share of 77% and 100% respectively. Business owners (12%) and retirees (33%) are also found in this class.

This exposition about the UK job market isn’t fictional or fantastical or, as Nigerians say these days, “No be AI.” The market is simply functional. It is a place where effort translates into income, skills translate into opportunity, and careers have veritable pathways.

Nigerians are not moving because they love cold weather; they move because the numbers make sense and the career ladder is real. Whether you're earning £15,000 as a part-time care assistant or £125,000 as a backend developer, one thing is clear: the UK gives Nigerians room to breathe, grow, and build wealth with dignity. 

Also, when it comes to managing that money—sending it home, supporting family, or saving for the future—a platform like OhentPay makes the journey smoother.

Because what is the point of all the hustle if the money can’t reach home safely, quickly, and at great rates?

For Nigerians in the UK in 2025, the opportunities are many, the earning potential is real, and with the right tools, the financial future is even brighter.

Nigerians are very industrious people by nature. It’s not uncommon to see citizens of the country who have multiple streams of income. Even after immigration, many people run side businesses while holding down regular jobs. 

For Nigerians in the UK, the conversation of relying on a single income source or diverse income streams is key. In 2025, this debate matters more than ever.

With the rise in cost of living, budgets are getting squeezed tighter. Immigration rules are also shaping work opportunities, and with the present economic uncertainty in the UK, many Nigerians are beginning to rethink how they make money.

Knowing how to navigate to the best suitable approach for yourself could make a difference between financial success and struggle.

In this article, we’ll look into how Nigerians in the UK are making money through single-income sources and side hustles and how these approaches affect the UK financial landscape.

Nigerians in the UK: Demographics & economic reality.

As of 2021, the Office for National Statistics put the Nigerian population in the UK at around 270,000 people, which is approximately 0.5% of the population of England and Wales.

Nigerians predominantly settle in England, especially Greater London, and in notable communities in Birmingham, Manchester, and other major cities.

Nigerians in the UK are employed mostly in public services (such as healthcare), technology, finance, education, and entrepreneurial ventures.

Average incomes vary by profession, with the high cost of living in the UK, including housing costs, childcare expenses, and the financial burden of regular remittances sent back home, constituting a large part of financial pressures. 

Nigerians in the UK come into the country through various visa schemes. Some of these visas come with specific work restrictions and allowances that influence the possibility of earning additional income through side hustles.

Legally, many Nigerians can have side income hustles only within the terms of their visa, but must be aware of tax implications tied to multiple income streams.  

According to OhentPay’s 2025 UK-Nigeria Remittance Report, Nigerians in the UK with multiple streams of income tend to send more money back home. In fact, about 50% of multiple-income earners are able to send £500, while only 22% of single-income earners send £500 back home.

Nigerians generally have a strong entrepreneurial spirit, and this mindset drives many to have multiple income streams along with their primary jobs.

With their familial obligations and expectations, the need to make remittances back home fuels the need for Nigerians in the UK to feel the need to generate extra income. This impacts how Nigerians in the UK approach work, save, and invest.

The single-income source approach.

The single-income source approach involves focusing fully on one primary career or job, with the ambition of climbing the corporate ladder.

This approach requires continuous professional development through certifications, training, and experience within a specialised field.

Nigerians who adopt this approach dedicate their mental and physical energy to excelling in one domain rather than juggling multiple income streams.

This approach is great for professionals in sectors with high-paying and structured career paths, including:

• Healthcare professionals working within the NHS or private systems
• Tech professionals  
• Corporate workers and experts in firms  
• Legal professionals

Its advantages include: 

• Deep expertise and career progression while building mastery and advancing to senior roles.
• Higher earning potential in specialised fields.
• Better work-life balance as concentrating on one income source can reduce the time spent juggling multiple responsibilities.
• Access to pensions, health insurance, bonuses, and paid leave.
• Single income sources simplify financial and tax planning.

It also has the following disadvantages: 

• There might be income ceiling limitations since salaries have upper limits and may not increase with inflation or rising living costs.
• Relying on one source makes individuals vulnerable to layoffs or economic downturns.
• There will be no fallback in the case of any offset financial shocks.

The multiple income streams approach.

The multiple streams approach combines a primary full-time job with additional income sources such as side hustles, part-time ventures, investments, or passive income.

Many Nigerians in the UK use this method to boost their financial security and create wealth beyond what a single salary can provide.

This approach works for people who are willing and able to balance multiple commitments.

Some of its advantages are:

• Income diversification and security to reduce dependence on one job.
• Combined incomes can accelerate savings, wealth-building and investments.
• Some ventures, especially digital or online businesses, can scale rapidly.

Its disadvantages include:

• The risks of balancing multiple commitments, like overwork and burnout.
• Sustaining excellent performance across streams requires careful mental and physical health management, which may be difficult for new immigrants still trying to settle into the country.
• Managing income across different sources requires diligent bookkeeping and tax compliance.

Tax & legal considerations for Nigerians in the UK.

Nigerians who have a single source of income are taxed through the UK Pay As You Earn (PAYE) system, which offers a straightforward tax arrangement. Income tax is automatically deducted from wages based on your tax code and allowances.

Employer pension contributions, National Insurance, and other benefits are also managed through payroll. This reduces the complications of filing taxes for employees.​

On the other hand, when earning from multiple sources, income outside PAYE must be declared through self-assessment tax returns. This needs diligent record-keeping. For instance,

• National Insurance Contributions vary depending on the class of income (Class 2 for self-employed, Class 1 for employees).
• Allowable expenses related to side businesses can reduce taxable profits, but they must be properly documented.
• Businesses may need to register for VAT if turnover exceeds £85,000 per year.

Navigating the financial landscape as a Nigerian in the UK in 2025 involves always putting your best foot forward and going with the approach that best suits you and your needs, whether it’s the single-source approach or the multiple income streams approach. Each strategy has its own unique advantages and challenges.  

The key is making an intentional choice that aligns with your skills, lifestyle, financial obligations, and long-term goals. Assess your current situation and experiment wisely with new income ventures.

With knowledge, proactive planning and the Nigerian resilient spirit, you can evolve and adapt to meet your obligations. 

UK immigrants send approximately £9 billion back home every year. Nigerians make up a huge population of UK immigrants, so this means that they contribute hugely to the amount mentioned.

Every month, many Nigerians living in the UK send money back home to their family and loved ones through various means for different reasons. 

These financial transfers are very top-ranking and vital to the economies of both countries.  These remittances help with household incomes, entrepreneurial ventures, and grow local economies across Nigeria.

Let’s take a deep dive into the real picture behind monthly remittances from Nigerians in the UK and understand how they vary across different income brackets and regions.

We will also talk about the economic impact of these remittances on Nigeria’s financial landscape and why they are important.

Understanding the motivation:  Why do Nigerians send money home?   

Nigerians in the UK send remittances primarily because they want to support their families back home. This could include helping parents, siblings, and children with daily living expenses like food, utilities, and rent.

Investment in education is a key driver, as many migrants fund school fees for younger family members to ensure a better future.

Healthcare needs are another significant factor, as medical treatments and hospital bills may be unaffordable in the home countries. Emergencies such as sudden illness or unforeseen crises could also prompt urgent financial transfers.

There’s also a large number of immigrants who send money for business investments and property or land purchases, which are seen as long-term economic security strategies. 

The remittances most immigrants send are deeply rooted in cultural and emotional obligations. The strong family ties in Nigerian culture create a powerful sense of duty to provide sustained support.

This often requires migrants to balance the high cost of living in the UK with the responsibility to send money back home. These are the emotional and cultural factors that sustain remittance flows even amid economic pressures.

Average monthly remittance: What Nigerians actually send from the UK monthly. 

According to OhentPay’s 2025 UK-Nigeria Remittance report, in 2025, about 16% of Nigerian immigrants in the UK sent between £500-£1000, while about 12% sent above £1000.

This differs from what was obtainable last year because 17% of Nigerians were sending over £1000 back home, while 19% sent between £500-£1000. It also seems that there has been a rise in financial transfers below £500, as they increased from 8% to 12% this year. 

Reasons for the decline in average monthly remittance. 

Now, this decline does not mean that people are sending less money back home. In fact, on the contrary, as more Nigerians migrate, the financial transfers have become higher in number.

They’re only less in percentage when collated together because most Nigerians who migrate tend to work at jobs that pay less than £50,000 annually. This naturally means that they can only send small amounts home, hence the increase in financial transfers below £500. 

For more clarity, Nigerian immigrants could belong to any of the income brackets below:  

1. Entry-level workers such as NHS support staff, retail, and hospitality employees. These immigrants might only be able to send amounts less than £500 monthly due to their modest earnings.
2. Mid-level professionals like nurses, teachers, and IT workers who earn a bit more and might be able to send £300 and £700 monthly.  
3. High earners like doctors, lawyers, and senior corporate workers who might be in a position to send amounts that exceed £1,000 monthly. These are the people who make larger transfers from the UK to Nigeria.  

Another factor that might affect the fluctuations in UK-Nigeria remittances is the exchange rate. Since a large number of immigrants(64% according to the report) are rate-sensitive, the exchange rate from pounds to naira means that they can send fewer pounds and still maintain the same amount of naira. 

The impact of foreign remittances on Nigeria's economy.

The UK-Nigeria remittance corridor is a major economic channel, with total remittances to Nigeria estimated to grow in the coming years.

In comparison to other foreign exchange sources, such as foreign direct investment (FDI) and foreign aid, remittances are much higher and sometimes amount to a huge part of the federal budget in value.

Remittances help in poverty reduction by providing consistent supplementary income that helps families meet basic needs and invest in human capital.

They also directly fund education and healthcare improvements, enabling many households to afford school fees, medical treatments, and preventive care that government programs may not fully cover.

This cash inflow also supports local economic development by improving investment in small businesses.  

The real estate market is also impacted by these remittances from the UK, as they contribute heavily to property and land purchases. They help sustain construction activities and generate employment and economic growth at the community level.

In 2025, with the weakening of the naira against the pound sterling, many senders have had to adjust the timing and amounts to preserve the naira value of their transfers.  

There’s also the fact that Nigeria’s economic policies continue to complicate the foreign remittance landscape and, in the process, affect the net value recipients receive.

The high cost of living in the UK, on the other hand, restricts the sending capacity of immigrants and forces them to create a balance between their financial support and the obligations they have to their loved ones. 

Conclusion.

These monthly transfers are more than just financial support. They’re the bond that people in the diaspora have and sustain with their loved ones at home while contributing significantly to Nigeria’s broader economic stability.

Despite challenges such as a volatile exchange rate and rising living costs in the UK, Nigerians are still making strategic, informed decisions to maximise the value of their money.

Looking for easier ways to send money home as support to your loved ones? We’ve got just the right platform for you.

With OhentPay, you can send money from the UK to Nigeria with ease. Only flat rates, no hidden charges. Let your family receive your support as quickly as possible. Download our app today and set up your account within minutes.

OhentPay Remittance Report 2025 | OhentPay

OhentPay’s 2025 remittance report explores the story behind Nigerians in the UK and their relationship with sending money back home

OhentPay

Have you ever taken time to explore the UK money transfer rules in 2025, so you can understand the regulators, limits, compliance, consumer protection, and recent changes?

This article addresses everything you are likely to be curious about concerning sending or receiving money within the UK and from overseas.

Each UK bank and payment service provider has its own regulations and must operate under the rules laid down by the Financial Conduct Authority (FCA).

Hence, you should confirm that any bank or PSP you use is FCA-registered and regulated to ensure your consumer rights protection.

The FCA not only protects you in cases of failed money transfers or service dissatisfaction, but also safeguards your deposits and reimburses you if the bank or service provider ceases operations.

We’ve also covered details about the roles of the FCA, the Financial Ombudsman Service, and the main regulators in the UK’s financial services industry. Let’s get right at it!

Who regulates money transfer laws in the UK?

The Financial Conduct Authority (FCA) is the main body responsible for regulating financial services in the UK. They monitor the conduct of service providers in the industry and play a vital role in preventing fraud.

The FCA sets standards for firms and organisations that specialise in payment services across the UK, ensuring users get what they deserve and safeguarding the integrity of the nation's financial system.

Money transfer limits in the UK

The UK government or any of its authorities does not set specific limits on the amount of money a person can send or receive within the UK and internationally.

This means the maximum payment limits from the UK are set by banks and PSPs, each with its own regulations.

View the table below to know the limits for local and international money transfers of the UK's most popular banks:

Banks set these limits to reduce losses due to unauthorised transfers of large amounts from your account, making it only possible to send money of higher value with your physical appearance at the nearest bank branch.

Transaction amount limits often apply to money transfers initiated via online and mobile banking. So, if you are visiting the bank in person, you can transfer any amount with barely any limits.

Compliance with international money transfer laws and regulations in the UK

The Funds Transfer Regulation (FTR) and the Anti-Money Laundering (AML) regulations are two major rules governing international money transfers across banks and Payment Service Providers (PSPs) in the UK.

FTR is also called the Wire Transfer Regulation, comprising rules for PSPs in the UK, aimed at tracking payments to local and international destinations. This regulation helps identify and hinder suspicious transactions, including money laundering.

On the other hand, AML regulations are comprehensive rules enforced by HM Revenue & Customs (HMRC) to monitor, prevent, and investigate transfers of crime proceeds or transactions that facilitate terrorist activities.

These involve collecting each account holder’s Know Your Customer (KYC) details and reporting directly to HMRC or the Financial Conduct Authority (FCA) in the United Kingdom, for enforcement and compliance.

What has changed in the UK money transfer rules?

There have been many changes in money transfer regulations in the United Kingdom, most especially:

Replacement of existing safeguarding requirements with interim rules to protect funds:

End-state rules became the new norms, requiring firms to segregate safeguarded funds from other funds by receiving them in a designated safeguarding account with an authorised credit institution.

Additional requirements by the sender and recipient for international money transfers:

This means more information must be provided to send or receive across borders from the UK. Note that this change already reflects in the UK’s Funds Transfer Regulation and was implemented on March 31, 2022.

Consumer rights and protection when sending money outside the UK

You can complain to the FCA if a bank or payment service provider didn't treat you right or does anything against these standards. Below are different scenarios with what to do:

• If you experienced a problem while initiating a cross-border transfer, first report to the bank or service provider and allow time (up to 8 weeks) to receive a response or resolution ticket. If the issue doesn't get resolved, you can complain to the Financial Ombudsman Service in the UK.
• If you are not satisfied with the response or support provided, inform the Financial Ombudsman Service so they can investigate further.
• If your bank or payment service provider goes out of business or becomes bankrupt, the Financial Services Compensation Scheme (FSCS) covers up to £85,000 of your losses.

OhentPay as a better alternative for money transfers.

OhentPay is a UK-based financial remittance company that beats most banks and payment service providers in the United Kingdom due to its unique offerings. They offer;

• Accounts for personal and business use
• A mobile banking app for cross-border payments between 190+ countries
• Zero account maintenance fees if you choose the Free plan, which allows you to create only one multi-currency account
• Accounts to hold and transact in over 40 currencies, including GBP, USD, EUR, CHF, and NGN
• Instant transfer processing and reflection
• Fixed fees on local and international transactions
• Competitive exchange rates on international money transfers

Conclusion

The UK money transfer rules apply to everyone who wants to send or receive money from the United Kingdom, even if you are a visitor or student with limited income.

If you think you’ve been unjustly charged by a bank or payment service provider in the UK, now you know what to do.

Remember to confirm their registration with the FCA, as well as compare transfer limits, fees, and account maintenance fees before opening an account or joining any platform to send money from the UK.

When sending money from the UK to Nigeria, even a small shift in the exchange rate can make a big difference in what your recipient receives.

For example, £100 exchanged at ₦2,000 per pound gives ₦200,000, but at ₦2,050 per pound, the same amount becomes ₦205,000, an extra ₦5,000 at no additional cost.

This is why it is important to secure the best GBP to NGN rate to ensure more value reaches your recipient. In this article, we'd be discussing how to get the best exchange rates from GBP to NGN.

Compare rates from different providers 

Exchange rates can vary a lot depending on the provider you use, which is why comparing before you send is so important.

Banks, fintech apps, and bureau de change outlets each add their own markup—or “spread”—on GBP to NGN conversions, meaning you might get very different amounts for the same £100.

For instance, if one service offers ₦2,000 per pound and another offers ₦2,030, that ₦30 difference per pound adds up to ₦3,000 more on £100.

To avoid losing out, always compare at least two or three platforms before transferring.

Instead of relying only on your bank, check fintech apps like Ohentpay, Wise, or Remitly, or even use comparison sites to see who’s offering the most competitive rate at that moment.

Time your transfer smartly.

Exchange rates don’t stay the same. They can change from hour to hour depending on market activity.

On Monday mornings, the market is usually catching up after the weekend, which often makes rates unstable.

From Tuesday to Thursday, the market tends to settle, so you’ll often find more stable and sometimes better rates.

By Friday and over the weekend, demand increases and providers may tighten their spreads, plus bank delays can affect how quickly money arrives, making it a less ideal time to send.

A smart approach is to track GBP to NGN trends for a week or two; if you notice rates dipping mid-week, plan your transfers during that window to maximize how much your recipient gets.

Check out this article on Best Days to Send Money to Nigeria for the Highest Rate if you want to learn how to track trends and get the best of your exchange.

Always look out for hidden fees

A transfer service might advertise a great exchange rate, but hidden fees can quietly reduce how much your recipient actually receives.

These can come in the form of transfer fees, receiving fees, or even small deductions hidden in the exchange rate itself.

For example, a provider offering ₦2,050 per pound but charging a ₦3,000 transfer fee might leave you with less than another provider offering ₦2,030 per pound with no extra charges. 

The best way to avoid surprises is to calculate the total cost—look at the exchange rate, transfer fee, and any receiving fee together.

A good rule of thumb is to pick providers that show you clearly: “If you send £100, your recipient will get ₦___,” so you know exactly what value reaches them.

OhentPay, for example has a very transparent feature called the currency converter, where you can have a look at how much will be sent and exchanged.

 Use multi-currency digital wallets 

Multi-currency wallets are digital accounts that allow you to hold and manage money in different currencies at the same time.

If you earn or receive money in pounds, you don’t have to convert it to naira immediately, especially if the exchange rate isn’t favourable. Instead, you can safely store the GBP in your wallet and wait until the rate improves before converting.

This way, you avoid the pressure of exchanging at a bad rate just because you need to transfer money right away. For instance, with an Ohentpay wallet, you can keep your funds in pounds and only switch to naira when the rates are stronger, ensuring your recipient gets more value.

Avoid the black market 

The black market, or street exchange, can sometimes look attractive because it offers slightly higher GBP to NGN rates than official providers.

But these “better deals” often come with serious risks, ranging from fraud and theft to counterfeit notes that could leave you with big losses.

Unlike regulated banks or licensed fintech platforms, street exchangers don’t guarantee security or accountability if something goes wrong. In the long run, the small gain from a higher rate isn’t worth the danger.

It’s far safer to use trusted, licensed providers that not only protect your money but also give you transparent rates and reliable transfers.

Conclusion 

Getting the best GBP to NGN exchange rate doesn’t have to be complicated—it just requires a smart approach.

By comparing providers, timing your transfers wisely, avoiding hidden fees, using multi-currency wallets, and steering clear of risky black market deals, you can make sure more of your pounds turn into value for your recipient.

Each of these small decisions adds up, helping you save money and send with confidence. With the right strategy, every transfer works harder for you and delivers more naira where it matters most.

Sending money from any part of the world to Nigeria was once a herculean task. There were countless stories of people who were unable to receive cash if it was from outside Nigeria.

Once there is an opportunity to receive international payments, one would have to consider if the money about to be received was worth the stress of: finding a proxy account, having a foreign address, or even asking someone else to receive the money on one’s behalf with the agreement of splitting the cash with them. 

The reasons for these difficulties include strict government policies, volatile exchange rate, and an unreliable parallel market that has birthed high fees and fraudulent practices.

While the Central Bank of Nigeria (CBN) implemented fiscal policies to stabilize the naira and capture more foreign exchange, these measures complicated the transfer of remittances into the country.

Some of the measures had to do with payouts in naira, dollar payout restrictions, and exclusion of fintech companies.

• Payouts in naira:

Early 2024 saw the CBN updating its guidelines mandating inbound international money transfers to be paid in naira only through bank deposits or cash for smaller amounts. 

• Dollar payout restrictions:

The aforementioned policy cum bottleneck reversed a previous policy that allowed payouts in US dollars. The irony was that this reversed policy was enacted in 2020 after a steep decline in remittance inflows due to the coronavirus pandemic.

Now, it has been changed—creating confusion for money transfer operators and customers. 

• Exclusion of fintech companies:

It would have been easy to circumvent or, better put, navigate these challenges through fintech platforms which are generally more efficient than traditional banks.

But the CBN also shot a bullet along that flank by prohibiting fintech companies from obtaining money transfer operator licenses. Licenses were reserved for banks and specialized operators.

So the average Nigerian was nearly stranded when trying to receive funds from outside Nigeria. 

However, all hope wasn’t lost. The CBN might have prohibited fintech companies from obtaining a direct International Money Transfer Operator (IMTO) license, but numerous Fintechs still legally operate remittance services in Nigeria by partnering with banks and licensed IMTOs such as Western Union, MoneyGram, and Ria Money Transfer.

This opened up several portals for sending money from countries like the UK to Nigeria. 

One may ask, if fintech platforms face(d) so much scrutiny, isn’t it better for one to just use traditional banks or licensed IMTOs? Sounds wise. Sounds less stressful too. Now, let’s explore these options and see if they are as stressless as they sound—or look.

Are traditional banks and money transfer operators “efficient” options for international money transfers to Nigeria?

Traditional banks have the advantage of being established and reputable. They are also subject to strict financial regulations, which keep them in check against financial malpractices.

This heightens the confidence their customers have in them. Having physical branches also boost this confidence since customers can have one-on-one contact with bank personnel when they have issues.

Money transfer operators offer an increased advantage by having physical cash pickup locations that enable recipients to access their funds even if they do not have a bank account. 

These locations also streamline the transfer process for both the sender and the recipient, making transfers faster than what is obtainable in banks. 

Despite these advantages, banks and money transfer operators are not as efficient as they are expected to be.

Oftentimes, these banks and operators charge high fees to complete international money transfers.

These fees, which may come with hidden costs, significantly reduce the amount of money the recipient in Nigeria receives. Banks also take several business days to complete a transfer because of international banking regulations, exchange rates, and processing times.

Delays are also associated with money transfer operators as cash pickup locations involve long queues. 

These setbacks should not be defining features of money transfer platforms in 2025. This is where new fintech apps like OhentPay come in.

These apps not only address these setbacks; they also come with additional features that make international money transfer a process to look forward to. 

Best apps for sending money from the UK to Nigeria 

OhentPay

Supporting over 40 currencies and operating in over 190 countries, OhentPay allows direct bank transfers with swift processing times and keeps costs predictable with a fixed rate of £1.50 for personal accounts.

It is highly regulated and secure with FCA regulation, PCI DSS compliance, and SOC 2 certification.

OhentPay crowns its offerings with a simple and user-friendly interface alongside reliable customer support for easy account management.  

LemFi

LemFi, previously Lemonade Finance, is designed to help Nigerians in the UK, US, and Canada send money back home quickly and at competitive rates.

Some of its strengths include instant transfers, zero fees on many transactions, and multi-currency accounts. This is why it is a popular choice for diaspora users.

However, LemFi is not left without its drawbacks. Its services are limited to a few countries and its exchange rates can be inconsistent. Users have also complained occasionally about app glitches and slow customer support.  

Remitly

Remitly is another go-to for those in the UK who want to send funds to Nigeria quickly and securely.

It comes with an intuitive app, multiple delivery options (like bank deposit, cash pickup, and mobile money), and competitive exchange rates that make it appealing for users looking for speed and flexibility. 

Despite these features, Remitly has some significant weaknesses. For instance, its exchange rate margins can vary and fees may add up depending on the chosen service. 

Wise

Wise (formerly TransferWise) is known for its transparency and use of the real mid-market exchange rate.

It enables users to send money directly to local bank accounts in Nigeria at low, upfront costs and enjoy transacting multiple currencies with fast delivery times.

Wise’s user-friendly interface and strong regulatory compliance also make it trustworthy and easy to use. 

The downsides of Wise include its non-support for cash pickup or mobile wallet transfers in Nigeria. Its fees can also be slightly higher for smaller amounts or card payments, which may limit its flexibility for some users.

WorldRemit

As a global digital money transfer service, WorldRemit allows users to convert money quickly.

It's supported payout methods include bank deposits, mobile money, airtime top-ups, and cash pickup, making it versatile for different recipient needs.

Users appreciate its accessibility, competitive fees, and the ability to send money conveniently via app or website.

However, they don’t fancy the fact that its fees are quite higher than its competitors and its exchange rates may include a markup. 

All good methods, But focus on OhentPay

As the global financial system evolves, fintech apps like OhentPay are revolutionizing international money transfers.

It is not just an alternative provider, but a passport to money transfer that is efficient, global, and fast-paced. Join the future of finance. Download OhentPay today and experience the best of money transfer.  

Upon arrival for study in the United Kingdom, it's normal to expect some impulse buying, which can drastically reduce the amount of money you bring for your living and study-related expenses.

The cost of living in London for a Nigerian student is a lot of money when converted to Naira from British Pounds.

To ensure you do not run out of money, which could affect your main purpose in London, you need to set a budget based on the estimated living expenses.

Accommodation, utility bills, groceries, and other personal expenses will take a large portion of your money. These things are more expensive in London than in any other city in the UK.

The UK government requires proof of funds of at least £1,483 per month for any academic program you enrol in. The thing is, you can actually spend a much lesser amount each month if you follow the guidelines in this article.

Summary of London’s living expenses

The table below shows the most essential living costs of an average international student in London from Nigeria:

Accommodation costs

According to the Trust for London, high housing costs are one of the underlying problems in London.

In fact, many residents cannot afford to rent their preferred home. However, several accommodation options are available at your discretion, based on your budget, lifestyle, and proximity.

Your first consideration should be the university’s student hall. If you are unable to secure a reservation, look out for apartments or shared flats for rent around London, although they are usually more expensive than student dormitories.

The monthly cost of an on-campus accommodation in London starts from £700. For off-campus housing, you’ll need between £850 and £1,200 each month, depending on the property’s location, size, market demand, and fixtures.

Feeding and groceries

You’ll have to choose between eating out at restaurants and preparing meals yourself. Homemade food is cheaper than meals served at fast-food restaurants across London.

According to the London Evening Standard, main dishes cost around £40 per person, which is three to four times the hourly minimum wage an international student earns in London.

The British Council recommends cooking your own meals, buying items in bulk, and shopping just when the mall is about to wind down for the day. This way, you can save hundreds of pounds each month.

Utility bills

Refusal to pay utility bills is a criminal offence in London and the UK in general, so you'd better avoid it. These cover the usage of water, electricity, gas, and other services, such as internet and telephone bills.

Here are their typical costs:

• Electricity and gas: £60
• Water: £30
• Telephone: £18 per month
• Internet: £25

Transportation

Getting around the city of London is a fun experience for most international students from Nigeria.

However, you may not always need to use public transit if you live on campus, as many supermarkets, restaurants, government offices, and other attractions are near most academic institutions in London.

You may only need to walk for a few minutes to reach your destination. However, this is a different case for students in flats and apartments outside their university’s campus.

You may also avoid staying too close to your campus, as nearby houses often cost more.

Above all, get an 18+ Student Oyster photocard for £2, which offers a quicker means to access public transit services within the city on a PAYG basis.

Better still, you can start with a contactless card until you estimate your monthly transportation costs.

Social activities, entertainment, and gym membership

Participating in student clubs, societies, and activities will cost you some bucks for membership, events, trips, equipment, and uniforms, depending on the school, club, and type of activities.

However, you don’t really need to join these activities and can save around £20 a month simply by exempting yourself.

Hanging out with friends will cost you £40 or more each day you socialise outside campus, as you need to pay for transportation, meals, drinks, and specific activities at the spot.

If you'd like to work out at a gym, consider a student membership at The Gym Group, which costs from £14.99 per month.

Summary

From the information in this guide, the cost of living in London for an average Nigerian student is exorbitant, but you will surely survive.

You can make money working part-time jobs for 20 hours a week during school sessions and full-time when your school is on scheduled breaks.

With the OhentPay mobile app, you can save costs on account maintenance, as well as on local and cross-border transactions, as their payment platform operates on flat fees rather than percentages.

OhentPay serves over 190 countries, and you can create multiple accounts for free to hold money and transact in over 40 foreign currencies for a fixed fee monthly.

Feel free to compare bank account benefits, fees, accommodation options, and job offers. Also try to avoid unnecessary spending and keep your expenses within budget.

If you need financial support, do not hesitate to apply for scholarships and use student loans cautiously to meet your needs.

It is no longer news that Nigeria is suffering the “japa” syndrome. “Japa” is a Nigerian slang for migration out of Nigeria. Since 2015, Nigerians have been leaving the country in droves, particularly after 2019.

And the United Kingdom is a top destination so much so that Nigerians have dubbed the country as Nigeria’s 37th state. In 2024 alone, about 52,000 Nigerians migrated to the UK mainly through work and study visas.

The UK granted 27,000 Nigerians work-related visas in 2024 alone since the country has a strong demand for skilled workers. It also granted 22,000 Nigerians study visas in the same year.

Many of these student visa holders bring dependents with them, adding to the migration numbers.

It seems as if there’s no end in sight to the “japa” syndrome, so a guide like this becomes necessary.

Because while the UK offers great opportunities, relocating goes beyond visas and plane tickets. It involves considering the new cost of living, health systems, and cultural dynamics.

The cost of living in the United Kingdom

The cost of living in the UK varies by location, with cities like London, Edinburgh, Oxford, and Manchester having a very high cost of living.

The cost of living in the UK can be categorized under the following rubrics: accommodation, feeding, transportation, healthcare, and utilities & internet. 

Accommodation

Rental prices vary across regions with the highest costs coming from cities like London, Edinburgh, and Oxford.

As of mid-2024, the average monthly rent in the UK averages £1,276, but in London it exceeds £2,100.

For smaller cities and towns like Sheffield, Leicester, or Glasgow, a person can get a one-bedroom flat for £700 to £1,000.

UK houses also come with Council Tax—a local levy on residential properties that hovers between £1,200 and £2,000 per year, depending on the council band and location. 

For Nigerians looking to cut costs, flat-sharing or living in outer boroughs/suburbs is a practical solution until financial stability is achieved.

Feeding

While accommodation expenses vary by location, food expenses vary by individual preferences—whether one prefers to cook or eat out.

An adult who spends cautiously on home-cooked meals can manage £200 to £300 monthly. For those who prefer to eat out, they can spend around £10 to £15 on casual meals, while mid-range restaurants can cost between £25 and £35 per person, per meal.

Transportation

Transportation costs depend on where a person resides and how often they move. A typical monthly Travelcard in London costs between £170 and £320, depending on zones.

Outside London, bus passes can cost between £60 to £100 per month. Methods for cutting transportation costs include cycling, ride-sharing, and using contactless cards. 

Owning a car may not be feasible for a new immigrant because of the expenses that come with insurance, fuel, and taxes.

Healthcare

The NHS is funded through taxation and the Immigration Health Surcharge (IHS), which immigrants must pay as part of their visa application. This has an annual cost of £1,035 for adults and must be paid for the duration of stay.

For example, the new immigrant from Nigeria will pay £3,105 for a 3-year stay. This can cover, without additional charges, a wide range of services such as doctors’ consultations, emergency care, maternity services, mental health services and prescriptions. 

Excluded services include eye tests and glasses, dental treatments, and private medical treatments.

It is also important to note that this NHS and healthcare system does not apply to Scotland, Wales, and Northern Ireland as they have their own rules.

Utilities and Internet

A new immigrant living in a one-bedroom apartment should expect to spend around £150 to £200 per month on basic utilities such as electricity, heating, water, and garbage.

Internet packages cost around £25 to £50 per month; though, fibre-optic speeds cost way higher. 

Cultural adjustments and social integration dynamics 

Aside from the cost of living, a new immigrant from Nigeria needs to also consider the cultural adjustments and social integration dynamics of the United Kingdom.

These stem from differences in communication, social values, and workplace norms. 

Cultural adjustments

• UK’s individualism versus Nigeria’s collectivism: While the Nigerian culture is more communal and collective, British culture focuses on individualism, valuing personal independence, privacy, and self-reliance. So a new Nigerian immigrant may see this individualistic culture as being cold and distant. 
• Communication styles: Brits rely on a reserved, formal, and polite way of communication. This is in contrast to the warm, expressive, and explicitly conversational style employed by Nigerians. 

Social integration dynamics 

• Community Networks: Because the UK has been humorously described as Nigeria’s 37th state, it is not surprising that there are large Nigerian communities in cities like London, Manchester, and Birmingham. Churches, student unions, and cultural associations also help with belonging and social integration. 

Dear Nigerian just coming into the UK, do you know that “Owambes” are still present in the UK? So, don't worry about losing a touch of home. You won’t!  

• Workplace culture: Punctuality is a core value of the UK’s professional culture as it is viewed as a sign of respect and professionalism. It prioritizes politeness and mutual respect alongside lighthearted banter and sarcastic humour.

The worry of sending/receiving money to/from Nigeria 

Moving to the UK from Nigeria is an exciting step towards new opportunities.

Whether settling in a new school or starting a new job, the new immigrant would definitely want to share this excitement with those back home, especially in monetary terms.

Parents back in Nigeria may want to send financial support to their wards in the UK, while workers in the UK may want to forward some pounds to their loved ones in Nigeria.

This is why it is important to have an efficient method for making cross-border transactions quickly and affordably. And that’s where OhentPay comes in. 

OhentPay: The smart way for making UK-Nigeria-based transactions 

Tailored for global citizens and immigrants, OhentPay offers a simple, transparent, and cost-effective way to send or receive money between the UK and Nigeria.

Whether sending money home or receiving funds from Nigeria, OhentPay helps new immigrants:

• Send and receive funds in over 40 currencies, including GBP and NGN. 
• Pay a flat fee of £1.50—no hidden charges or rate markups.
• Complete transfers within minutes, not days.
• Rely on FCA-regulated security standards and 24/7 customer support.

Final thoughts

There are many factors to consider as a Nigerian migrating to the UK. These include the cost of living, cultural dynamics, and money transfer methods.

While the cost of living and cultural dynamics vary according to different factors such as location, lifestyle and personal needs, international money transfer has a fixed and efficient path through OhentPay.

OhentPay provides a smart way to complete international transactions quickly and at competitive rates. It offers a seamless financial experience built for today’s global citizens.

So dear Nigerian, as you prepare for life in the UK, having an app like OhentPay can make all the difference in starting strong and staying ahead.  

When dealing with foreign currencies, traditional UK bank accounts can be costly and restrictive.

This is where bank accounts with many currencies are useful because they make managing money across currencies easy and don't charge exorbitant fees or markups on exchange rates.

Selecting the best multi-currency bank account is essential for efficiency, cost savings, and convenience if you're a working professional with global financial demands or a UK-based business.

The top multi-currency bank accounts in the UK will be explained in this article, along with their salient characteristics, costs, and professional fit.

What is a multi-currency bank account?

With a multi-currency bank account, you can keep, transfer, and receive funds in multiple currencies from a single account.

This implies that you don't have to exchange currencies each time you do business abroad.

Transaction costs and exchange rate losses can be greatly decreased for professionals that work internationally or make money in various currencies.

Unlike standard bank accounts that typically operate in pounds sterling (GBP), multi-currency accounts allow you to:

• Maintain balances in a variety of currencies, including USD, EUR, AUD, CAD, and more.
• Use these currencies to send and receive money.
• Get access to favorable exchange rates.
• Steer clear of exorbitant costs for international transactions.

Why working professionals need multi-currency accounts

It can be costly and inconvenient to use typical UK bank accounts if you work abroad or receive payments in foreign currencies.

For instance, there can be conversion fees if you get a payment in USD, and there might be foreign transaction fees if you use your debit card overseas.

Multi-currency accounts help professionals by:

• Saving on currency conversion costs: Hold the currency you’re paid in to avoid repeated conversion fees.
• Simplifying international payments: Send and receive funds globally without needing multiple bank accounts.
•  Improving cash flow: Manage payments to overseas clients or suppliers more efficiently.
• Enhancing financial flexibility: Spend or withdraw money in local currency to avoid expensive exchanges.
•  Facilitating tax and accounting: Accounting is made easier for organizations and freelancers when funds are kept in the appropriate currencies.

Top multi-currency bank accounts in the UK for working professionals

Below are some of the best multi-currency accounts ideal for UK-based professionals:

1. OhentPay multi-currency account.

The OhentPay multi-currency account is a recent but brilliant addition to the fintech’s offerings.

With it, you can pay like a local in different countries without physically leaving the UK. There are many perks to using this account, such as not having to pay for signing up–it’s totally free. You can also use this account for both personal and business affairs. 

You enjoy speedy, smooth, secure, and cost-effective transactions. And as a professional in the UK, you want this kind of ease. There are no hidden charges. So, if you have suffered this elsewhere, you don’t have to anymore.

The customer support also lets you feel seen and heard. If you have questions or need assistance with anything, all you need to do is reach out, and you’d be assisted promptly.

2. Revolut business multi-currency account.

Revolut is a leading fintech company that provides multi-currency accounts for individuals and businesses with sophisticated features including analytics, budgeting tools, and accounting software integration.

•  Pros: Hold and exchange 30+ currencies, free international transfers, access to business tools.
• Cons: Some plans come with monthly fees, exchange limits without fees.
•   Best for: Small business owners and professionals with international clients.

3. HSBC global account.

HSBC is a reputable international bank that offers the Global Account, which via its global banking network enables you to keep and manage up to ten currencies in one account.

•  Pros: Trusted banking institution, global branch network, multi-currency payments.
• Cons: Higher fees and minimum balance requirements than fintech options.
•  Best for: Professionals seeking a traditional banking relationship with international support.

 4. Monzo business account with multi-currency features

While Monzo primarily offers GBP accounts, specifically designed for independent contractors and small enterprises operating globally, it has begun including multi-currency payment options.

•  Pros: User-friendly app, transparent fees, instant notifications.
• Cons: Limited currency holding capabilities compared to Wise or Revolut.
• Best for: Professionals who want a UK-based account with some international payment flexibility.

5. Starling Bank business account

Starling Bank provides a competitive business account with services including accounting integration and invoicing, as well as multi-currency payments (via integration with payment providers) and no monthly fees.

•  Pros: No monthly fees, excellent mobile banking, free UK payments.
• Cons: Currency exchange services via partners, not direct currency holding.
•  Best for: UK-based professionals needing a straightforward business banking account with international payment options.

How to choose the best multi-currency account for you.

When choosing a multi-currency bank account, consider the following:

• Currencies supported: Ensure the account supports the currencies you frequently use.
•  Fees: Look beyond monthly fees—consider exchange rates, withdrawal fees, and payment charges.
•  Ease of use: Online banking interfaces and mobile apps should be simple to use.
•  Integration: If you use accounting or invoicing software, check for integration.
• Customer support: Having dependable and easily reachable customer service is crucial, particularly when conducting business internationally.
• Additional features: Look for debit cards, budgeting tools, and spending analytics.

Frequently asked questions.

1. What is the main advantage of a multi-currency account? It allows you to hold and manage multiple currencies in one account, avoiding costly conversions and enabling easy international transactions.

2. Are multi-currency accounts safe in the UK? Yes, especially those offered by regulated banks or reputable fintech companies with proper licensing and security measures.

3. Can I get a debit card linked to a multi-currency account? Many providers like Wise and Revolut offer multi-currency debit cards for convenient spending abroad.

4. Are there any hidden fees with multi-currency accounts? Always check the fine print—some accounts charge fees for currency conversion, withdrawals, or inactivity.

5. Can I use multi-currency accounts for business and personal use? Yes, several providers offer both personal and business multi-currency accounts tailored to different needs.

Conclusion

Multi-currency bank accounts are revolutionary for UK working professionals with global financial needs.

They make cross-border money management easier and more effective by offering the flexibility and cost reductions necessary in a global economy. 

The ideal multi-currency account will rely on your particular requirements, transaction volumes, and desired features, regardless of whether you favor traditional banks like HSBC or fintech innovators like Wise and Revolut.

You may simplify your foreign banking experience and make an informed decision by looking into all of these possibilities.

To enjoy the best multi-currency account experience as a working professional in the UK, OhentPay is your best pick. The mix of ease, smoothness, security, speed, and cost-effectiveness makes your life easy.

Do you want to track your spending in real-time? Avoid fees when travelling or shopping online? Open an account quickly without paperwork? Then yes — you probably do.

Mobile banks in the UK have grown popular because they solve everyday banking frustrations.

Whether it’s getting paid early, freezing your card instantly, or just seeing where your money goes each month, app-based banks are built for convenience and transparency and especially useful for newcomers to the UK, frequent travellers, students, freelancers, and anyone tired of clunky traditional banking.

What makes a good mobile bank in the UK?

• Easy account opening process
• Low fees
• Real-time notifications and monitoring 
• Ease of use internationally 
• Regulated and protected by the Financial Conduct Authority (FCA) and ideally protected under the Financial Services Compensation Scheme (FSCS)

Top mobile banks in the UK 

1. Monzo: Best for everyday banking & budgeting

Monzo is one of the UK’s most popular mobile banks, especially among young professionals and students.

It’s built for day-to-day spending, with instant notifications for every transaction and helpful budgeting tools that track your spending across categories like groceries, bills, or entertainment.

You can create “pots” to separate your savings, split bills with friends, and even get your salary paid a day early.

Monzo also offers optional overdrafts, loans, and paid tiers with extra features , but its free account is packed enough for most people. Plus, it’s fully regulated and FSCS-protected, so your money is safe up to £85,000.

2. Starling Bank:  Best for travel and fee-free banking

Starling is often considered the most polished mobile bank in the UK. It offers a full current account with zero monthly fees, no charges for spending abroad, and smart money tools like spending insights and savings goals.

You also earn a small amount of interest (currently 0.05% AER) on your balance, something most other digital banks don’t offer.

Starling supports cash and cheque deposits through the Post Office and allows you to open joint or business accounts. It’s also FSCS-protected and fully regulated, making it one of the safest and most reliable options.

3. Revolut: Best for international spending & investing

Revolut goes beyond basic banking and is ideal if you spend or send money across borders.

You can hold and convert dozens of currencies at excellent exchange rates, send international transfers cheaply, and spend abroad without hidden fees (within monthly limits).

Revolut also offers extras like cryptocurrency trading, stock investing, and travel perks if you upgrade to a paid plan.

However, it’s important to note that Revolut isn’t covered by the FSCS — though it does hold your money under an e-money license regulated by the FCA.

4. Chase UK: Best for cashback & simple saving

Backed by JPMorgan Chase, this newer entrant to the UK market offers a surprisingly generous 1% cashback on all eligible spending for the first 12 months — without any fees or hoops to jump through.

It also rounds up every purchase and puts the change into a savings account with 5% interest. The app is beautifully designed, and card use abroad is fee-free, making it a great all-rounder. Your money is protected under the FSCS, and customer service is available via secure in-app messaging.

5. Wise: Best for low-cost international transfers

Wise is a specialist in cross-border payments. While it’s not a full UK current account, it allows you to hold balances in over 50 currencies, convert money at near mid-market rates, and send transfers globally with some of the lowest fees available.

You also get a debit card that works internationally, both physically and virtually. Wise is regulated by the FCA, but it doesn’t offer FSCS protection, so it’s best used alongside a traditional or FSCS-protected mobile bank.

What you need to open a mobile bank account in the UK

• Valid photo ID (e.g. passport, UK driving licence, national ID card)
• Selfie or short video for identity verification (via the app)
• UK residential address (for debit card delivery)
• Proof of address (varies by bank — some don’t require it)
• UK mobile phone number
• Active email address

Ohentpay: A simpler alternative for cross-border needs.

While UK mobile banks like Monzo, Starling, and Revolut are great for managing local day-to-day banking, they’re not always built with international users in mind ,  especially if you’re new to the UK or need to move money across borders frequently.

That’s where Ohentpay stands out. Unlike traditional mobile banks that often require extensive verification and UK credit history, Ohentpay offers a fast, borderless experience designed for people who live, work, or support family across countries.

You can open an account in minutes, send money abroad at competitive rates, and receive funds without the usual delays or hidden fees.

If you're an international student, a freelancer, or someone simply looking for a no-hassle alternative to rigid UK banks, Ohentpay offers a smoother entry point ,especially if your financial life isn't tied to just one country.

If you are a freelancer, international student or a tourist traveling to the UK , chances are- you might need a simple means to convert, hold and manage foreign currencies like the Canadian Dollars(CAD). 

Opening a CAD account with traditional banks in the UK, isn't exactly a walk in the park. You'll be subjected to long verification processes, limited options and unnecessarily complicated systems.

 OhentPay accounts are a great alternative. OhentPay allows you to open a virtual CAD account in the UK and you’ll get Canadian dollar details to safely receive funds. You can hold them in your wallet, convert them to GBP or other currencies whenever you want, at competitive exchange rates and with no hidden fees.

How to open a CAD Account in the UK - with Ohentpay 

1. Download the Ohentpay app from the Apple app store or Google Play
2. Follow the prompts to sign up and verify your identity - we might require a valid ID and a selfie!
3. You'll need to add a new currency in CAD  on your dashboard. Select CAD on this page

4. Fund your wallet in your current/preferred currency
5. Convert to CAD, hold your funds or transfer in minutes as you wish!

Run a global business without a Canadian bank account.

Looking for an easier way to receive Canadian Dollars (CAD) in the UK as a freelancer, entrepreneur, or business owner?

With OhentPay’s multi-currency wallet, you can receive money in your local currency, then convert it to CAD at competitive rates, right within the app

You can also:

• Hold and manage multiple currencies (including CAD, GBP, EUR, USD) from one dashboard.
• Use OhentPay’s exchange rate calculator to know how much you’ll receive before converting.
• Easily send Canadian Dollars to business partners or suppliers in Canada.
• Low fees, fast delivery, and transparent currency conversion.

Secure a dedicated CAD wallet in minutes.

Unlike banks that require multiple forms and weeks of processing, OhentPay allows you to create a digital CAD wallet in minutes.  With your OhentPay CAD wallet, you can:

• Convert from your local currency to CAD with low fees.
• Store CAD securely in your app-based wallet.
• Send CAD directly to Canadian recipients , it's fast, safe, and compliant.
• Switch between multiple currencies as needed, including GBP, EUR, and NGN.

FAQS

Which Canadian banks allow non-resident accounts?

Several Canadian banks allow non-residents to open accounts, including:

Bank of Montreal (BMO)

Bank of Nova Scotia (Scotiabank)

Canadian Imperial Bank of Commerce (CIBC)

National Bank of Canada

Royal Bank of Canada (RBC)

TD Canada Trust (Toronto-Dominion Bank)

However, the process is often lengthy, requires multiple documents, and sometimes an in-person visit.

If you're looking for a faster and more flexible alternative for receiving, sending, or holding Canadian Dollars (CAD), OhentPay lets you open a CAD wallet in minutes.

Do any Canadian banks have branches in the UK?

Yes. For example, the Royal Bank of Canada (RBC) has a registered branch in London at 100 Bishopsgate, offering private banking and wealth services.

Unfortunately, these branches don’t always cater to general retail banking or everyday transfers.

If you need to send or receive CAD in the UK, using a branch isn’t always practical. OhentPay gives you a faster option with CAD, GBP, NGN, and USD wallets, so you can manage your money with ease.

Every year, millions of people send money from one country to the other. This can be for different reasons like business transactions, salaries/freelance payments, gifts, black tax, fees, and many more. 

The challenge many people face, however, is finding the right way to do this. 

The other day, I was on a group chat and this lady came asking the group how she could send money to a neighbouring country. This reminded me how many people still find it quite difficult to send money across borders.

They do multiple Google searches that may not give them the best answers as soon as they need it. That’s about to change for you since you’re reading this article.

We’ll explore the best app that allows you to send money overseas without breaking a sweat and factors you should consider. Sit back, relax, and prepare to learn how you can easily send money overseas.

Factors to consider when sending money overseas.

• Exchange rates and transfer fees: The exchange rates and transfer fees of the platform shouldn't make you feel like you're being ripped off. 

If they are unreasonable, there's no need to use the platform. 

• Platform security and speed: Is the platform secure for you to make transactions? Are transactions delayed or do they go through immediately? 

If your answer to these are not in the affirmative, it's time to switch platforms.

• Daily/monthly transfer limits: Before settling with a platform, you need to be sure there are no limits that negatively affect your ability to transact. 

Daily or monthly transfer limits can literally dictate how much you send, and this can get frustrating. 

My recommendation? Use platforms like OhentPay that don't limit the way you send money. 

• Correct recipient account details: Imagine that your business partner sends you incorrect account details and there's an issue after you send the money. It can cause a lot of damage.

Nobody wants to experience this. So, confirm that the account details are correct before hitting “Send.”

• Friendly user interface: This isn't about whether the interface is beautiful or not. It's about how easy it is for you to navigate the platform. If it's difficult or unresponsive, that's not the platform for you. 

Use a platform that allows you send money overseas without having to say prayers.

OhentPay: Best way to send money overseas

OhentPay is live in over 190 countries and supports 40+ currencies. What does this mean for you? You can send money to different countries with just this one app. 

The exchange rates are transparent and competitive, the fees are flat, and the service is fast. Customer Support is also excellent and you won't have to figure things out on your own if you have any questions. 

To get started:

• Download the OhentPay App: Go to App Store or Play Store to get the app. Depending on your internet connection, it could take some seconds or a few minutes. Once downloaded, you're ready for an account. 
• Open and set up an account: Create an account by following the prompts on the app. Fill in the necessary information and do the needed KYC verification. You'll need to create a 4-digit pin for transactions. You can also add your biometrics for easier and faster access to your account. 
• Fund balance: Since you're sending money, you should fund your balance with enough to allow you to send. Do this using the “Add Money” feature and fund your desired currency account. 
• Click on the “Send” Button on the Dashboard: Right on your dashboard, you'll find the “Send” button. This is your ticket to sending money overseas. 
• Fill in necessary details: You need to select currency, input amount, recipient, and add a reference message (or use the one already provided in the column). Once you're sure the details and figures are correct, you're ready to send money. 

Note: To add recipient’s account details, click on the “+” button at the top right corner of the page you're taken to after tapping “Select Recipient.” 

You'll go on to select your recipient type—personal or business. If you're sending to Nigeria, for example, select “Nigeria” as the country, “Naira” as the currency (or any other currency your recipient prefers), the recipient’s bank, and then input the account number. This is how you add a recipient. 

This helps you to simply just select them in one tap when it's time to send money. 

This article has just shown you how you can send money overseas with ease. You don't have to be like my group chat mate who had no idea until she asked the group. 

To get the very best experience, I highly recommend that you download the OhentPay app now and start sending money overseas with it. It's fast, reliable, cost effective, and secure. No more endless and fruitless Google searches. 

Receiving international payments in Nigeria is quite a clunky process. In the bank, you would have to fill out endless forms, visit banks physically, wait days — or even weeks — for your funds, and then pay high conversion and withdrawal fees.

This has given rise to many fintech solutions that aim to help Nigerian residents receive funds from overseas. 

Receiving USD payments is no longer an issue. After all, the US Dollar is the world's most popular currency and several apps help people receive funds in dollars. However, not all these apps integrate payments in other currencies like the Euro. 

This is why we have created this guide to show you how to receive payments in Euros (EUR) and convert to Naira with ease, speed, and full control through OhentPay.

Whether you’re a freelancer working with a French tech firm, a student receiving support from family in Germany, or a small business closing a deal with a client in the Netherlands, OhentPay makes cross-border payments simple and reliable.

But first, why would you need to receive Euro payments in Nigeria?

Why you might need to receive Euro payments in Nigeria

More Nigerians than ever are engaging with the Eurozone for work, education, or business. Some key reasons include:

• The Euro is the second most traded currency globally, so there are e-commerce sites, freelance gigs, and remote contracts — especially those in Europe — that have the Euro as their default payment currency.  
• Likewise, many freelance platforms and agencies in Europe pay in Euros by default. So if you are a Nigeria-based freelance writer, designer, developer, or virtual assistant working with European clients, you may likely receive your payment in Euros.
• Nigerians in the diaspora are popular for sending remittances back home. As of 2024, remittance inflows to Nigeria rose to $20.98 billion. This means that if you have family and friends in EU countries, it is secure, fast, and cost-effective to receive Euros into their local account.

Why choose OhentPay for receiving Euro payments

OhentPay offers one of the most seamless and transparent methods to receive Euro payments in Nigeria.

It is your best option for receiving your payments because if you want to depend on traditional banks and older platforms, you would likely suffer the following: 

• Poor exchange rates: Banks and many money transfer providers offer poor exchange rates, causing you to lose a large chunk of your payment during conversion. 
• Long waiting times: While banks are structurally reliable, they take several business days to complete a transfer because of international banking regulations, exchange rates, and processing times. Digital remittance services, on the other hand, may face delays such as app downtimes and transaction failures. 
• High and unclear transfer fees: Because banks and money transfer operators charge fees to facilitate transactions and make profits, they add exorbitant fees to complete your transfers. These fees and other hidden costs may cause you to lose a significant portion of your Euro payment.

OhentPay eliminates these barriers by offering a modern platform designed for Nigerians doing global business, receiving support, or working internationally. Unique features of this robust platform include: 

• Multi-currency support: It supports more than 40 currencies, including the Euro (EUR) and the Naira (NGN), allowing you to receive international payments like a local.
• Low fixed fees: OhentPay offers predictable pricing, with personal accounts enjoying a flat £1.50 fee structure.
• Real-time exchange rates: You can convert your Euros to Naira with competitive rates, updated in real-time.
• Fast processing times: Payments typically reflect swiftly, so you can access your funds without unnecessary delays.
• Safe and compliant: Regulated by the FCA and compliant with SOC 2 and PCI DSS security standards. This means that you can trust OhentPay to keep your money safe and secure.

The Nigerians who need OhentPay to receive Euros

• Freelancers receiving project payments from clients in European countries like France, Spain, Belgium, or the Netherlands
• Remote workers on EU payrolls
• Online business owners selling to customers in the Eurozone
• Students and families receiving upkeep or educational support from relatives in Europe
• Exporters closing sales in Euros and needing quick local access to their earnings.

How to receive Euro payments via OhentPay 

• Download the OhentPay app from the Google Play Store or Apple App Store
• Create and verify your account using a valid ID
• Navigate to your multi-currency account dashboard and locate your Euro (EUR) receiving details
• Share your EUR account info with your client, employer, or sender in Europe
• On their end, they should go to the “Send Money” page, choose their preferred currency (EUR), select you as their recipient, and enter your details
• They should select your country (Nigeria) and your preferred currency (NGN), then fill out your bank account details or mobile wallet information
• They should proceed to review the transaction details, including transaction fees and estimated delivery time
• Next is to select the “Pay with Card” option and enter their unique PIN to authorize the transfer 
• Once the transfer is initiated, they will get a confirmation message, while you will receive a notification when the money is received

Receiving Euro payments in Nigeria should not be rocket science. OhentPay makes sure it is not. Whether you're getting paid as a creative, a consultant, or a student abroad, you can access your funds quickly, safely, and at a great value.

So if you are ready to receive your next Euro payment, sign up on OhentPay today and take full control of your international earnings. 

Ideally, currency exchange should not be difficult, expensive, or complicated. However, due to factors like recession, inflation, terms of trade, and so on, converting from one currency to another could become a headache.

Currency exchange rates change constantly based on economic factors, so it’s important to know when and how to get the best deal. People convert British Pounds(GBP) to Pakistani Rupees(PKR) for various reasons.

For instance, Pakistani expats living in the UK might need to send money back home to support their families.

Business owners who import goods from Pakistan need to pay suppliers in local currency, and tourists visiting Pakistan want to have cash ready for their trip.  

Let's look into how currency conversion works and how you can make smarter financial decisions to avoid unnecessary fees that can eat into your hard-earned money.

Key factors that affect the GBP to PKR exchange rate.

The GBP to PKR exchange rate tells you how many Pakistani Rupees you'll get for one British Pound.

This rate is determined by the foreign exchange market, where currencies are bought and sold 24/7. Some of the factors that influence the GBP to PKR rate are:

• Economic indicators like inflation rates in both countries play a major role. When the UK has lower inflation than Pakistan, the pound becomes stronger than the rupee.
• Political stability and uncertainty can affect investor confidence to invest and also cause currency fluctuations.
• Interest rates set by the Bank of England and the State Bank of Pakistan influence currency demand. Higher interest rates often attract foreign investment, strengthening the currency.
• Trade relationships between the UK and Pakistan impact currency demand based on import and export volumes.

To check live GBP to PKR rates, you can use any of these tools:

• Xe - Provides real-time rates and historical charts.
• Google Currency Converter - Quick conversion right in search results.
• OANDA - Provides rates used by banks and businesses.
• Wise- Calculates the conversion of 140 currencies at the mid-market exchange rate.
• Bank websites - Many UK and Pakistani banks show current rates.

Please note that the rate you see online (the mid-market rate) differs from the actual rate you'll receive when converting money. This is because service providers add margins and fees to this rate.

Best methods to convert Pounds to PKR.

Online money transfer services

You can get the most competitive rates and lowest fees for GBP to PKR transfers if you use online money transfer services like:

• Wise: Wise uses the real exchange rate with transparent fees. Their transfers typically arrive within 1-2 business days. You can send money directly to Pakistani bank accounts or for cash pickup.
• Remitly: Remitly specializes in remittances to developing countries, including Pakistan. They offer both express and economy (3-5 days) options. Their rates are competitive, especially for larger amounts.
• Western Union: Western Union has the largest network globally with thousands of pickup locations across Pakistan. Their exchange rates and fees are usually higher than much newer online services.
• WorldRemit: WorldRemit offers competitive rates with good delivery options, including bank deposits, cash pickup, and mobile money. They're particularly strong for smaller transfer amounts.
• OhentPay: OhentPay provides multi-currency accounts and competitive exchange rates, making international transfers seamless.

Traditional banks

UK banks like Barclays and HSBC offer international transfers, and also charge fixed fees ranging from £15 to £25 per transfer.

Pakistani banks such as Allied Bank and HBL have partnerships with UK institutions, which can make transfers faster with the added advantage of security and established relationships.

Currency exchange bureaus

Physical exchange shops are convenient for cash conversion. Their exchange rates may not always be favourable and they are best used only for small cash needs like travel money.

Multi-currency bank accounts & apps

Some fintech platforms like Revolut and OhentPay offer multi-currency accounts where you can hold PKR and convert at competitive rates. This works well if you regularly deal with both currencies.

These multi-currency accounts have competitive exchange rates and are ideal for frequent international transactions.

How to convert GBP to PKR using OhentPay.

To convert GBP (British Pounds) to PKR (Pakistani Rupees) using OhentPay, follow this step-by-step guide:

1. Download and Sign Up: Download the OhentPay app from Google Play or the iOS App Store and sign up for a free account.
2. Verify Your Account: Complete the identity verification process by submitting a government-issued ID. This usually takes about two minutes.
3. Top-Up GBP Balance: In your OhentPay account, fund your GBP balance using your bank account or debit/credit card.
4. Start the conversion by following these steps:
   • Log in to your OhentPay account via the app or website.
   • Navigate to your GBP balance.
   • Tap on the Exchange button.
   • Choose the currency pair as GBP to PKR (ensure PKR is available. If unsure, confirm with OhentPay support).
   • Enter the amount you want to convert.
   • Review the live exchange rate shown.
   • Confirm the transaction and authorize the conversion.
5. Receive PKR: After confirmation, the equivalent amount in PKR is credited to your PKR balance, from which you can spend or send to a Pakistani bank account.

It’s true that traditional banks still play a role in large business transactions. However, converting GBP to PKR has become much easier and cheaper thanks to modern online money transfer services.

The key to getting the best deal is comparing exchange rates and fees from different platforms.

Take a few minutes to check multiple options before sending your money because exchange rates change regularly, so what's cheapest today might not be tomorrow.

Consider factors like transfer speed, recipient pickup options, customer service quality, and the company's reputation. A few extra pounds in fees might be worth it for peace of mind that your money will arrive safely and on time.

If you’re looking to start making your first GBP to PKR, download the OhentPay app, get registered, and start your hassle-free currency conversion.

We promise that your first time will definitely not be your last. Start by trying one of the recommended services for your next GBP to PKR transfer.  

Do you need cash urgently or want to pay bills from your bank account using your credit card? Do you have an unexpected expense that you need to cover before payday? 

Every day, millions of people face similar situations where transferring money from a credit card to a bank account seems like the perfect solution to their financial needs.

But here's the catch. It's very possible to do so but the process is not as straightforward as a regular bank transfer. There is a need to understand the fees, risks, or even the best methods available. 

Transferring money from your credit cards to your bank accounts can be both safe and convenient when done right and with the right platforms. 

Different methods to transfer money from a Credit Card to a bank account.

Transferring money from a credit card to a bank account is usually seen as a "cash advance." This means you're borrowing money against your credit limit and then the money is deposited into your bank account through various methods.

This doesn't work like transferring money between your checking and savings accounts. There are higher fees and interest rates that start accruing immediately and most credit cards have limits on how much you can advance as cash. 

Here are some of the most popular ways to transfer money from your credit card to your bank account:

a. Bank’s Cash Advance. 

You can withdraw cash from your credit card at an ATM or request a direct bank transfer through checks or bank services. This method is usually quick but attracts high fees and interests.

b. Using a Money Transfer App

Popular fintech platforms like Wise, CashApp, PayPal, OhentPay and Venmo allow you to link your credit cards to your accounts on their platforms.

These apps offer convenience, speed, and the ability to spread payments over time. Fees vary on each of these platforms and transfers can be instant or take a few days depending on the app and bank.

c. Using Unified Payment Interface (UPI) or Mobile Banking.

UPIs Google Pay, PhonePe are popular in India. They allow you to link credit cards for payments and transfers. All you need to do is enter the credit card UPI ID or bank details of the recipient.

Why you should use OhentPay for your Credit Card transfers.

If you're on the market for a good platform to make your credit card transfers, look no further. OhentPay was specially built to stand out in the market. 

Here's why we think OhentPay is your best option: 

• Multi-Currency Wallet: You can hold and manage multiple currencies in one place, making it easy to send money internationally without worrying about exchange rate fees and timing.
• Competitive Rates and Lower Fees: OhentPay's fees are often significantly lower than traditional banks and even competitive with other Fintech platforms.
• Fast Transfer Speeds: Most transfers with OhentPay get done within 1-3 business days with some even happening on the same day. 
• User-Friendly Mobile App: The intuitive interface makes it easy to send money, track transfers, and manage your account, even if you're not tech-savvy.
• Global Reach: OhentPay has global reach with support for numerous countries and currencies across the globe.
• 24/7 Customer Support: You get access to help round the clock with OhentPay whenever you need it. 

How to transfer money from Credit Card to bank account with OhentPay.

To transfer money from a credit card to a bank account using OhentPay, follow these step-by-step instructions:

1. Download and Set Up the OhentPay App
   • Get the OhentPay app from the App Store (iOS) or Google Play Store (Android).
   • Register an account by providing your details and completing identity verification.
2. Open the app and log in using your PIN or biometric authentication.
3. On the home screen, tap the ‘Send’ button to start a new transfer.
4. Select Currency and Recipient
   • Choose the currency you want to send.
   • Add a recipient by entering their name, phone number, and email address.
5. Enter Recipient’s Country and Bank Details
   • Select the recipient’s country from the list of supported countries.
   • Fill in the recipient’s bank account details or mobile wallet information accurately.
6. Review Transaction Details
   • Confirm all recipient details, transaction fees, and estimated delivery time.
7. Make the Payment Using Your Credit Card
   • Choose the ‘Pay with Card’ option.
   • If your credit card is not already linked, add it to your OhentPay account.
   • Authorize the payment by entering your unique PIN.

  8. You will get a confirmation message once the transfer is initiated. The recipient will also be notified when they receive the funds.

OhentPay ensures that your transfers are safe and secure through multiple layers of protection. The platform is Payment Card Industry Data Security Standard (PCI DSS) compliant.

This means that it meets the highest standards for handling credit card information. All data is encrypted using bank-level security protocols.

OhentPay is also regulated by financial authorities in the jurisdictions where it operates, providing an extra layer of consumer protection that you wouldn't get with unregulated services.

Best practices before transferring from your Credit Card to your bank account.

Before you initiate any credit card to bank account transfer, follow these essential practices:

1. Check Your Credit Card terms: Review your credit card agreement to understand cash advance fees, limits, and interest rates. Some cards have better terms than others for cash advances.
2. Compare fees across platforms: Calculate the total cost including credit card fees, interest, and any currency conversion charges. 
3. Use Secure, Regulated Apps: Take note of established financial platforms that are properly licensed and regulated. Look for security certifications like PCI DSS compliance and read user reviews.
4. Monitor your credit usage: Keep track of how much of your credit limit you're using. As much as you can, try to keep total utilization below 30% of your limit.
5. Have a repayment plan: Before taking a cash advance, know exactly how and when you'll pay it back. 

Conclusion

Transferring money from a credit card to a bank account doesn't have to be complicated or expensive. The key is understanding your options and choosing the method that best fits your needs and budget.

Whether you're dealing with an emergency, sending money internationally, or just need quick access to funds, there's a solution that can work for you.

OhentPay combines the convenience of modern technology with competitive rates and security, making it ideal for anyone who needs to transfer money from their credit card quickly and safely.

Download the OhentPay app today and discover how easy it is to transfer money from your credit card safely, quickly, and affordably. Your next transfer is just a few taps away.

Frequently asked questions

• Can I transfer money from a credit card to another person's bank account? 

Yes, you can transfer money from your credit card to someone else's bank account using services like OhentPay. You just need their complete banking information. The same fees and considerations apply as transferring to your own account.

• Is it legal to transfer money from a credit card to a bank account? 

Yes. This financial transaction is also known as a cash advance by credit card companies. There are no legal restrictions on this type of transfer when done through proper channels.

• Will transferring money from my credit card hurt my credit score? 

Yes. It can impact your credit score indirectly.  However, if you pay it off quickly and keep your utilization low, the impact should be minimal.