It is a known fact now that First Bank has been licensed and commenced the outward sending of Naira to other countries via Western Union since September while UBA was given go-ahead to send out by MoneyGram International since October. Union Bank has also just been licensed to send Naira out to over 200 countries covered by MoneyGram. Kindly share your experience with these services and the banks involved so far for sending outside Nigeria.

I tried to use WU by First Bank to pay for an online item and you must visit a branch to do that. I was there in September but was told that WU network was down "globally" for that period. Of course, I know that must be a lie and usual Nigerian factor. I proceeded to Victoria Island, Lagos where most banks have their healthy branches and a branch there confirmed same network palaver. They were only able to pay those receiving WU in Nigeria as they claimed receiving network was up while the sending network was down. The earlier branch also told me that to send out, you would either bring the naira cash or send it from your FBN account but they deal solely with naira and have no idea how much dollar or pounds or whatever currency it becomes at the destination country. In other words, they have no control over the WU exchange rate from Naira to other currencies. They also mentioned how much in Naira they do collect as WU charges on certain range of amounts you are sending, which I think tallies with the following fees I copied from WU website:

Sending =<$500 ($15 fee)
Sending $500.01 - $1,000 ($20 fee)
Sending $1,000.01 - $2,000 ($25 fee)
Sending $2,000.01 - $5,000 ($30 fee)
Sending $5,000.01 - $10,000 ($45 fee).

Share your WU and MG experience too whether sending out or receiving. By the way, is there any bank that can still receive in dollars or all banks give Naira by force? At what rate do they give you cash or credit your account? For those crediting your account (such as GTBank and Quickteller platform), can they credit it into your domiciliary account?

I HAVE SOME FUNDS IN MY DEBIT CARD. COULDN'T USE ON ATM BECAUSE I'VE EXCEEDED MY LIMIT FOR THE MONTH. I CAN USE IF FOR ANY PAYMENT ONLINE. IT'S A GREENDOT DEBIT CARD. I'M LOOKING FOR SOMEONE TO USE UP THE FUNDS AND PAY ME THE NAIRA EQUIVALENT

arbitrage:
It is a known fact now that First Bank has been licensed and commenced the outward sending of Naira to other countries via Western Union since September while UBA was given go-ahead to send out by MoneyGram International since October. Union Bank has also just been licensed to send Naira out to over 200 countries covered by MoneyGram. Kindly share your experience with these services and the banks involved so far for sending outside Nigeria.

I tried to use WU by First Bank to pay for an online item and you must visit a branch to do that. I was there in September but was told that WU network was down "globally" for that period. Of course, I know that must be a lie and usual Nigerian factor. I proceeded to Victoria Island, Lagos where most banks have their healthy branches and a branch there confirmed same network palaver. They were only able to pay those receiving WU in Nigeria as they claimed receiving network was up while the sending network was down. The earlier branch also told me that to send out, you would either bring the naira cash or send it from your FBN account but they deal solely with naira and have no idea how much dollar or pounds or whatever currency it becomes at the destination country. In other words, they have no control over the WU exchange rate from Naira to other currencies. They also mentioned how much in Naira they do collect as WU charges on certain range of amounts you are sending, which I think tallies with the following fees I copied from WU website:

Sending =<$500 ($15 fee)
Sending $500.01 - $1,000 ($20 fee)
Sending $1,000.01 - $2,000 ($25 fee)
Sending $2,000.01 - $5,000 ($30 fee)
Sending $5,000.01 - $10,000 ($45 fee).

Share your WU and MG experience too whether sending out or receiving. By the way, is there any bank that can still receive in dollars or all banks give Naira by force? At what rate do they give you cash or credit your account? For those crediting your account (such as GTBank and Quickteller platform), can they credit it into your domiciliary account?

arbitrage:
It is a known fact now that First Bank has been licensed and commenced the outward sending of Naira to other countries via Western Union since September while UBA was given go-ahead to send out by MoneyGram International since October. Union Bank has also just been licensed to send Naira out to over 200 countries covered by MoneyGram. Kindly share your experience with these services and the banks involved so far for sending outside Nigeria.

I tried to use WU by First Bank to pay for an online item and you must visit a branch to do that. I was there in September but was told that WU network was down "globally" for that period. Of course, I know that must be a lie and usual Nigerian factor. I proceeded to Victoria Island, Lagos where most banks have their healthy branches and a branch there confirmed same network palaver. They were only able to pay those receiving WU in Nigeria as they claimed receiving network was up while the sending network was down. The earlier branch also told me that to send out, you would either bring the naira cash or send it from your FBN account but they deal solely with naira and have no idea how much dollar or pounds or whatever currency it becomes at the destination country. In other words, they have no control over the WU exchange rate from Naira to other currencies. They also mentioned how much in Naira they do collect as WU charges on certain range of amounts you are sending, which I think tallies with the following fees I copied from WU website:

Sending =<$500 ($15 fee)
Sending $500.01 - $1,000 ($20 fee)
Sending $1,000.01 - $2,000 ($25 fee)
Sending $2,000.01 - $5,000 ($30 fee)
Sending $5,000.01 - $10,000 ($45 fee).

Share your WU and MG experience too whether sending out or receiving. By the way, is there any bank that can still receive in dollars or all banks give Naira by force? At what rate do they give you cash or credit your account? For those crediting your account (such as GTBank and Quickteller platform), can they credit it into your domiciliary account?

I noticed the cold reaction when you try to enquire about this service from the banks they seem not to be interested as i tried making use of unity bank and they declined that they do not offer such services

willyede:

I noticed the cold reaction when you try to enquire about this service from the banks they seem not to be interested as i tried making use of unity bank and they declined that they do not offer such services

Actually not all the banks are offering it yet but a good number of them now. I am not sure of Unity Bank in the list.

First Bank is about the only Bank that had been authorized to send funds out via Western Union until recently. Mod is correct with the commencement of this in September. Very recently however, specifically about 2 weeks ago, Ecobank got a nod to do same as well.
In November, I personally utilized Western Union (thru First Bank) to send funds to China. While I won't dispute mod's position of that the Bank doesn't have control over the amount/currency that gets to the beneficiary,but WU is too perfect to not put that into consideration. here is my experience. This was at Ibadan,not even Lagos.It's a simple process.
I was asked how much I plan to send and it was plugged into the system. The system uses a simulator to of course simulate amount being sent, preferred currency, beneficiary's currency, value of funds upon getting to beneficiary. Generally, regardless of simulator,Standard charge/fees is approximately 16,500 naira for every $2000. Hope this helps.

oxsam88:
I HAVE SOME FUNDS IN MY DEBIT CARD. COULDN'T USE ON ATM BECAUSE I'VE EXCEEDED MY LIMIT FOR THE MONTH. I CAN USE IF FOR ANY PAYMENT ONLINE. IT'S A GREENDOT DEBIT CARD. I'M LOOKING FOR SOMEONE TO USE UP THE FUNDS AND PAY ME THE NAIRA EQUIVALENT

Your exchange rate?