About Sweden and Nigeria

Remittance reports show that the number of migrants who send money from Sweden to Nigeria has increased over the years. That means, that the amount of money crossing from Sweden to Nigeria has been on the rise as well. It is however good to know that money transfer between these two countries is not any new activity. Adding to the list of people who need a convenient way to send money to Nigeria from Sweden are people who have outsourced freelancing services from Nigeria. Remember that Nigeria is one of the African countries with high computer literacy.

Cheap way to send money from Sweden to Nigeria

When it comes to the meaning of cheap in money transfer, you should know that it can be in terms of cost or time. Some of the cheap ways to send money from Sweden to Nigeria include;

Bank transfer: for a very long time, bank transfers have been helping people to send money across borders. You can today use these services and enjoy more convenience thanks to mobile banking. When using bank transfer to send money from Sweden to Nigeria, you need to take a lot of interest in the exchange rates if you want to spend less. You should also confirm how much the receiver will get because some banks will charge receivers when withdrawing the cash. Note that bank transfers take between one day and a week to clear depending on your bank.

Cash delivery: you can send money from Sweden to Nigeria instantly without giving up whatever you were doing. Cash delivery services allow you to send money to be picked up at an assigned location. Considered one of the fastest ways to send money from Sweden to Nigeria, cash delivery services are quite expensive if compared with online money transfers. They also take care of converting the currency from SEK to NGN using the exchange rates provided by the stock trade market. In the past, one had to visit the agents’ location in order to initiate their transfer, something that is not necessary today. Through their apps and online platforms like the Western Union App by Western Union, everything is simplified. MoneyGram is yet another alternative.

Online cash transfer: online money transfer is one of the cheapest ways to send money from Sweden to Nigeria. You can send money for free with this option as offered by services like XE Money. The competitive nature of this industry allows it to offer the best rates in the market and you can find some services that will make it cheaper to send large amounts. It is also good to know that some online money transfer services can allow you to send money directly from your bank account, giving you more control over your money. One of the biggest challenges with online money transfer is that there are so many service providers. Always make sure to use one that is available in both countries. Also, use platforms such as ERIQ to confirm your choice before proceeding. Some of the most used online money transfer services to complete Sweden to Nigeria transfers include; TransferWise, Ria, XE Money, and WorldRemit

Factors to consider when sending money from Sweden to Nigeria

As easy as it may sound, you may not be able to successfully send money to Nigeria from Sweden if you don’t do the following;

Exchange rates: you need to understand how the exchange rates work if you want to send money internationally. That is the only way to know how much the receiver will get. If the receiver is expecting 500 Nairas, you are not supposed to send 500SDE

Transfer time: Knowing how long your transaction should take will help you to track your money to know if it has reached or delayed. It will also help you to know which transfer service will suit your need for example if you need to make an emergency transfer.

Transfer charges: some transfer agents impose hidden charges during transfers while others will charge you according to how much you need to transfer. There are many more ways through which these companies can implement charges. You need to confirm all these details to find which service suits your budget.