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How To Receive Money From Western Union To A Bank Account

Do you know how to receive money from western union to a bank account? Are you thinking of how to receive money from Western Union but don’t know how to go about it? The process can be confusing if you have never done it before.

However, you can find your way around it with the right guidance.

Here is everything you need to know to receive money through Nigeria’s most popular foreign exchange agency.

Western Union Agents in Nigeria

Western Union Agents are registered persons and places that allow customers to send and pick money using Western Union.

Getting a WU Agent or their location is not exactly difficult as all you have to do is know how to find the closest one near you.

A location is usually set in a popular place like supermarkets, check cashers, grocery stores, mailbox centers, travel agencies, drug stores, depots, and other retailers.

You can also locate Western Union Agents in banks, post offices, travel agencies, airports, bus stations, trains, and currency exchange offices.

To find the nearest agent location to you, you can use the western Union official Find an Agent Link

After locating an agent and sending or receiving money, you will need to provide several identification and validation documents, transaction details, and agent fees.

If you are sending, you will also need to have the principal money in cash. 

WU agents make it possible for you to send and receive money worldwide.

However, it is important to note that it is impossible to send money through Western Union or other related services due to CBN’s new policies.

You can, however, receive money, and this is how it will be pending when the restriction is lifted. 

How to Open a Western Union Account in Nigeria?

Knowing how to receive money from western union to a bank account? requires that as an individual, it is best to open your own western union account that is Nigerian-based.

Opening and getting a western union account in Nigeria is not hard, but it entails taking a few steps to crack, and you have your western union account. Opening a Nigeria Western union account requires opening your profile, verifying your profile, and sending money to any location.

Firstly, you should open your profile account to get a fully functioning western union account.

Opening your profile will require you to take a few steps of providing some valid personal information, as will be required during the opening process.

Take note, ensure that any information you will be providing tallies with the information on any of your government-issued IDs.

Western Union has to do with transfers of valuables (money), and so to ensure safety and assurance, you should oblige providing the information requested as they are legally required.

Some of the information includes:

Full name: you are expected to provide your full name in the same order and sequence, correct spelling as it is in your government-issued. This is a very sensitive and necessary stage as it could cause complications if not accurately provided.

Valid BVN: western union is money-related, and it is also relevant to your bank account details. The profile opening process requires you to provide your Bank Verification Number, and you should provide it correctly.

Address: providing your valid residential address is also an important requirement that is needed in the western union account opening procedure.

Means of Contact: opening a western union account also requires you to provide a valid means of contact, which can either be your mobile number, Email address, or both.

Date of Birth: This account opening process also requires your date of birth. You know, dealing with a Western union requires the individual to meet up with a certain age experience. Of course, western union is not a thing for growing children without prior knowledge to operate. You are expected to provide your correct date of birth as requested.

Country of Birth/Nationality: Of course, you are opening a Nigerian western union account, but that doesn’t mean it is where you were born or originated from. The western union account opening process requires the information of your birth country of the country of birth. Another requirement of the profile opening procedure is the provision of your nation of origin. It doesn’t matter if you are a Nigerian or not.

You are just needed to provide enough details of your personality so, providing your nation of origin is very necessary.

Occupation: you are also required to provide your means of livelihood in the account opening process.

The next step in the western union account opening process is verifying the account once opened. This is easy, and it’s done in minutes after opening the account.

Finally, your account is now activated to send money. The account is now fully activated to do the western union transactions.

WESTERN UNION APP

You need the western union application to perform transactions related to western union.

First, you have to download the application for the Apple App Store for iOS and google play store for Android devices.

With the western union application, you can pay bills and do transfers to persons. 

After downloading the app, you can proceed to perform transfers by sending or receiving from the destination country.

Using the application requires your validation of your email address, and then you should register to provide either your driver’s license, passport, or photo ID.

The western union application is very easy to navigate, so your transaction data is kept securely. The application has techniques for keeping your personal information confidential.

WESTERN UNION TRACKING

Perhaps, you have an issue with your western union transfer or any complication at all, do not panic as the website has a developed technique for western union tracking.

Once you notice any issue with your transfer, all you will need to do is to provide your 10-digit MTCN number. MTCN is the acronym for Money Transfer Control Number.

This is the number that will help in the tracking process of your transfer.

LIST OF WESTERN UNION BANK IN NIGERIA

Just in case you are looking out for banks that can are into western union transactions and how you should go about sending and receiving transactions in western union, then reading this will be very important.

Doing transactions such as sending and receiving of money to anywhere the ninth world using the western union has been for a very long time, and so it is a very reliable means of doing International transactions.

All you need to do after opening a western union account is to use a bank that is partnered with the western union.

Below is a list of banks that are partners with the western union:

  • All branches of the First Bank of Nigeria nationwide
  • All branches of Zenith International Bank nationwide
  • All branches of the first city monument bank nationwide
  • All branches of Wema Bank nationwide
  • All branches of Access bank nationwide
  • All branches of Ecobank Nigeria PLC nationwide
  • All branches of Diamond bank nationwide
  • All branches of United Bank of Africa nationwide
  • All branches of Fidelity Bank nationwide
  • All branches of Keystone Bank nationwide

The above banks are banks that are partnered with Western Union, and so they are capable of carrying out sending and receiving of money within and outside the country.

Though, there are possible restrictions to international transactions.

This restriction is for transactions to international banks involving the transfer of more than $10000 or its local equivalent.

Such transactions are reported to Nigeria’s central bank and can only be sent if they are approved.

Also, receiving transfers from international banks are also reported to CBN, and the completion of the transaction requires you to present your Money Transfer Control Number (MTCN).

WESTERN UNION CHARGES IN NIGERIA

The western union transaction requires charges that are just atoms compared to what you want to send or receive.

These charges vary, and the rates are not discouraging.

Western Union also makes money from currency exchange.

You should carefully consider the transfer fees or charges when doing a Western union transaction.

Western Union Exchange Rates

Currency       Rate             Change      Date

USD               ₦ 380.28                  0.00%         02/12/20

EUR              ₦ 445.18        1.06%         02/12/20

GBP              ₦ 496.26       -0.01%       02/12/20

Conclusion

That’s how to receive money from western union to a bank account? Western Union has remained one of the most important foreign exchange agencies in Africa and Nigeria in particular.

While making transfers using this medium is a bit complicated, receiving money through Western Union is still as seamless as when it first came into prominence in Nigeria.

This list has outlined SME of the essential details that you need to successfully send and receive money.

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