money transfer

[ndu26 114]

Does anyone know an alternate way to send a huge amount of money $7K and upwards to Nja securely without incurring the high fees moneygram and westernunion are charging? Trying to rally people to help someone with a loan facility but it's going to cost almost $200 or more in fees to do money transfer( that is outrageous).

[Orando 57]

Maybe an International Wire, from sending bank to a receiving bank is an option?

[ndu26 114]

IR 1/CR-1??? I really should not be signing in to VJ when I am sleepy(just returned from a long day of classes in grad school)...I thought I was in the Nigerian forum

Thanks....that is why I am looking for info on if this is possible from people's experience and how to go about it.

[Inky 1,111]

Not a spousal case filing or progress report moving to regional as it is a regional question.

[Orando 57]

A national US bank should be able to wire money to Nigeria if there is a Bank in Nigeria that accepts international wires. Someone in Nigeria can inquire about this at a major bank. Just need sending and receiving account information, go down to the US Bank branch, and get them to send the wire. Should be much cheaper fee than $200. Hope this helps, I do not know another way than what you mentioned and sending a wire.

Edited February 3, 2012 by Orando

[myra2223 2]

Does anyone know an alternate way to send a huge amount of money $7K and upwards to Nja securely without incurring the high fees moneygram and westernunion are charging? Trying to rally people to help someone with a loan facility but it's going to cost almost $200 or more in fees to do money transfer( that is outrageous).

try xoom global money transfer, it has a fixed rate service fee. $5.99 per transaction of any amount but i think there's a limit like $3k something like that. but hopefully that would help

[Boiler 45,657]

www.xe.com

[nigerwife 17]

You can do a wire transfer, but the recipient has to have a US$ account (or Dorm account). You cannot transfer it into a Naira bank account. Your US Bank will tell you what details they need. Usually account details and bank SWIFT code, etc.

[ndu26 114]

Thanks all. I searched and xoom does not do transactions to Nigeria, www xe.com needed me to send bunch of paperwork for verification of identiy etc and the time frame is not enough for that( besides I was not too comfortable with the reviews they got online).

I found out browsing my bank's website that I can do wire transfer from a personal account here but It did not specify that the recipient needed a dorm account for that( am just reading that here now).

Anyway the whole process was stressing me and the recipient out( cos no one was willing to bear the cost of transfer fee) but she was favored with lenders there who were ready to give way more than she was going get from here.... so problem solved.

Again thanks for the info.

Edited February 4, 2012 by ndu26