You may need to send or receive money from someone outside Nigeria. If you’re outside Nigeria, you may need to send or receive money from someone in Nigeria. Ultimately, it involves an international money transfer. You have many international money transfer options to choose from, and Western Union is undoubtedly one of the best.
Western Union offers an effortless service. It’s simple to use for both sender and receiver. If you’re the receiver, you’ll need the MTCN (money transfer control number), and you can receive the money from any bank (or other Western Union agent) in Nigeria. If you’re the sender, however, you can either visit the bank as well, or create an account and send the money at your convenience.
In this Nigerian InfoBustop post, you’ll find out how to get a Western Union account in Nigeria.
About Western Union
The primary service that Western Union provides is international money transfers. In 1851, the business was established in Massachusetts as a transcontinental telegraph corporation between North America and Europe. Since then, it has developed into a well-known brand in financial services across the globe.
Western Union money transfers offer a variety of handy alternatives for practically anyone to send and receive money fast to fit any need. It’s especially popular with those who need to send or receive money when traveling, staying abroad, or helping out friends and relatives who may not have access to a bank account at home.
Western Union is also a well-liked choice for sending and receiving urgent funds due to its speedy and simple services. The service uses third parties, referred to as “Western Union agents,” to provide these services on its behalf. You can check nearby Western Union agent locations. However, almost all banks in Nigeria are Western Union agents, so just visit a bank to use Western Union.
How To Create A Western Union Account
Creating a Western Union account is an easy process. Simply visit the official Western Union Nigeria website: https://www.westernunion.com/ng/. Click on “Register” from the top menu. Afterward, follow the prompts and complete the form by entering all required details. Here’s a breakdown of the two main registration stages:
Creating Your Profile
Creating a Western Union account means creating a Western Union profile. To create a profile, you must submit verifiable details in the registration form. The details include:
- Full name
- Valid BVN (Bank Verification Number)
- Mobile phone number
- Email address
- Country of birth
- Date of birth
The details you enter must match with what’s on your government-issued ID for verification. In other words, you must have a government-issued ID to create a Western Union account. It’s a legal requirement.
Verifying Your Profile
After providing all the required information in the profile creation stage, you’re one step away from owning a Western Union account. The next step is verification. Verification is simple and fast as it’s done automatically.
Once you submit the details, the system will cross check the details you submitted with your BVN to see if they match. If they do, your account will be automatically verified. If they don’t, you’ll find out what details are incorrect. It takes a few minutes for your account to be verified, but in some cases, especially due to incorrect details, it may take longer.
What Can You Do With Your Western Union Account?
Now you have a Western Union account, what can you do with it? Well, there’s a lot you can do with a Western Union account, and they include:
The primary use of your Western Union Bank account is to send money to others. You’ll be able to send money immediately after your account gets verified. You’ll need to get the correct details of your receiver, as it is in their government-issued ID – most especially their BVN if in Nigeria.
If the receiver information you provide doesn’t match what’s on their ID, they’ll be unable to receive the money. To make a transfer with your account, you can make the deposit using your credit card. Note that the service will cost you a small fee. Afterward, you’ll get an MTCN which you’ll send to your receiver. They can then take the MTCN to the bank or other Western Union agent location to withdraw the money.
How Much Does Western Union Transfer Cost?
How much your Western Union transfer will cost depends on a few factors. The first factor is the amount you are sending after currency conversion. Next, there are Western Union’s up-front transfer fees and other expenditures. Then, there is the possibility of further charges for using a credit card or a fintech app. Keep in mind that the exchange rate is independent of the transfer cost and vice versa.
The currency rates displayed on WU’s website are completely separate from those displayed by banks. Although the restrictions and prices vary from country to country, you may find out roughly how much you’ll have to spend by inquiring in advance or looking up rates online. For example, you can contact your bank in Nigeria to find out how much they charge for Western Union transfers. Ultimately, the fees are not very high.
From the information above, you’ll agree that creating a Western Union account in Nigeria isn’t difficult. With an account, the major thing you can do is to send money.