With over £7.5 billion in trade volume between the two countries, people in the United Kingdom and Nigeria often have to exchange money for goods and services. Also, the UK is Nigeria’s second-largest source of remittances. Despite this existing financial relationship, sending money from the United Kingdom to Nigeria remains expensive, slow, and often riddled with poor exchange rates.

However, fintech platforms like Grey simplify the process by providing a cheaper, faster, and more transparent way to transfer funds between both countries. Whether you’re supporting family back home, paying freelancers, or managing personal finances across borders, Grey provides a seamless solution.

Trusted options to send money to Nigeria from the UK

Several fintech platforms now offer convenient and digital-first ways to send money across borders. Below are some of the popular services available:

• WorldRemit

WorldRemit is well-known for its speed and flexibility. It allows users to send funds directly to Nigerian bank accounts or as mobile airtime. While its fees are generally low, they vary based on transfer method and amount. Exchange rate margins may also apply.

• Remitly

Remitly is another solid choice for transfers to Nigeria, offering bank deposits and cash pickup. Transfers are quick, often within minutes, with flat fees around £0.99 for bank transfers. However, it’s important to compare exchange rates, as these can sometimes offset the savings.

• Wise

Wise (formerly TransferWise) is widely praised for its transparency and mid-market exchange rates. The platform shows all fees upfront and is a good option for sending larger sums where rate differences matter most. Transfers usually arrive within a day or two.

• Bank transfers

Traditional UK bank transfers to Nigerian accounts are still possible, but they can be expensive (fees ranging from £10 to £25), with slow delivery times (up to 5 business days) and unfavourable exchange rates.

The cheapest and fastest way to send money from the UK to Nigeria is with Grey

Grey is a digital finance platform that enables users to send and receive money internationally with minimal fees and real-time transfers. What makes Grey particularly attractive for UK-to-Nigeria transfers are the following:

• Favourable exchange rates: Grey offers competitive rates compared to traditional banks and remittance services.
• Low fees: Unlike most banks and wire services, Grey charges minimal transaction fees.
• Speed: Most transfers are processed within minutes to hours, rather than days.
• Virtual foreign bank accounts: Grey allows users to own a UK, US, or EU bank account, making it easy to receive funds like a local.
• Naira withdrawals: You can easily convert your GBP (or USD/EUR) into naira and withdraw directly to any Nigerian bank account.

You may also like: Introducing Grey Naira bank accounts!

How to sign up on Grey

Getting started with Grey is simple. Here’s a step-by-step guide:

• Visit the Grey website or download the app

• Create an account: Click on “Sign Up” and fill in your basic details—name, email address, and a secure password. You’ll also need to verify your email.
• Complete KYC (Know Your Customer): Upload a valid ID (such as a Nigerian passport or national ID card) and take a selfie for identity verification. This typically takes a few minutes to a few hours to be approved.
• Get your virtual foreign account: Once verified, you’ll be assigned virtual bank accounts in the UK (GBP), US (USD), and EU (EUR). You can now receive payments into these accounts from clients, family, or friends abroad.
• **Convert to naira and withdraw:** After receiving funds, simply convert the currency to naira using the in-app exchange feature and withdraw to your Nigerian bank account.

Read also: How to receive US dollars in Nigeria with Grey

Sending money from the UK to Nigeria using Grey

If you’re in the UK and want to send money to Nigeria using Grey, here’s what to do:

• Step 1: Fund your Grey GBP account.
• Step 2: After the funds arrive, log in to your Grey dashboard.
• Step 3: Convert the GBP to NGN at the current Grey rate.

Read also: Fastest way to convert USD to naira without high fees

• Step 4: Select “Withdraw” and enter the Nigerian bank details of the recipient.
• Step 5: Confirm the transaction and wait for the funds to be delivered — usually within minutes.

Managing your finances with Grey

Grey is a reliable payment solution that ensures the cheapest and fastest way to send money from the UK to Nigeria. It combines speed, affordability, and ease of use in one modern platform. Whether you’re managing a side hustle or just trying to make cross-border transfers more efficient, Grey is a smart choice worth considering.

Sign up with Grey today or download the mobile app to enjoy seamless international payments.

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