Are you looking to convert your Nigerian Naira to British Pounds? If so, you’ve come to the right place! We understand that when you have ties to the UK, like business transactions, school, or even your loved ones living there, you might need to send money over. However, the first step is converting your Naira to Pounds at great rates.
In this article, we’ll discuss why Grey is the best option when making an NGN to GBP conversion. We’ll also show you how to check exchange rates on Grey and how to convert currencies on the app. Keep reading for more.
Why Should You Use Grey for Your NGN to GBP Currency Conversions?
Since many alternative banking services swap NGN to GBP, why should you use Grey for your currency conversions? Here are five reasons why;
Easy account top-ups: You can easily fund your naira balance on Grey. This is because you get a Naira virtual account you can transfer to. There’s also the direct debit option, where you authorize a debit from your account.
Fast conversions: Swapping your Naira for Pounds takes less than a minute since everything happens on the same platform. Once you make the conversion, you instantly get the GBP equivalent in your Grey GBP balance.
Send to any UK Bank: Just as you can receive money from the UK, you can also directly send the GBP equivalent you convert abroad. Plus, you can send pounds from Grey to any UK bank. All you need is the recipient’s SWIFT code, SORT code, account number, and account name.
Fast international delivery: Since you can also send your converted GBP to the UK, Grey has partnered with the necessary regulatory bodies and institutions to ensure the recipient gets the funds within 24 hours.
Excellent rates: Perhaps the most important benefit of it all is that you get conversions at the best market rates in addition to convenience. Plus, you can always check the exchange rate before you start the conversion on Grey.
Bonus: You can also create a GBP account without a British residency permit (BRP) on Grey.
What are the Exchange Rates for Naira to Pounds?
Exchange rates are known for their volatility. So at the time of this post, we cannot share a fixed range. However, you can always check what the current exchange rates are on Grey. To do this simply;
Log on to your Grey web app
On the top of the screen, tap on ‘See our rates’
Select the currency rates you’d like to see and view all supported currency rates at a glance.
Please note that exchange rates are subject to change, so we recommend checking them before you make any transaction.
How Do I Change My Naira to Pounds on Grey?
Are you ready to buy Pounds with Naira or change your Naira to Pounds with Grey? Here’s how to do this;
On the left side of your screen, tap on ‘Balances’
Make sure you’re on your Naira balance
Tap on deposit if you haven’t funded your account with the amount you want to convert. Alternatively, you can copy the account number on the Naira balance page and make a transfer.
Once your transfer is complete, Tap on ‘Swap Naira’
Fill out the form and confirm that you want to proceed with the transaction.
You’ll see the equivalent in your GBP balance. You can then proceed to your GBP balance to send the pounds to your preferred recipient account.
On Mobile
Log in to your Grey mobile app
On the dashboard, switch to Nigerian Naira
If you haven’t funded your account yet, tap on account details to get your Grey NGN virtual account you can make a transfer to
Tap on the three-dash icon just beside the ‘Send Money’ button.
Tap on ‘Swap Funds’
Fill out the form by choosing GBP and entering the amount you want to swap
Confirm the swap
You’ll get the equivalent in your GBP balance, and you can send pounds from there.
Whether you need to convert your Naira to Pounds for business transactions or to send to your loved ones in the UK, we recommend using Grey. Enjoy the best exchange rates and seamless transactions by creating your free account here.
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