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Is Bank Transfer From South Africa Possible To A Local Nigerian Account? - Business - Nairaland

Nairaland ForumNairaland GeneralBusinessIs Bank Transfer From South Africa Possible To A Local Nigerian Account? (4285 Views)

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Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by NoLoveLost(op): 3:26pm On Feb 24, 2015
Hello business gurus, am really a novice when it comes to international money transfer. Actually I haven't tried sending someone money abroad, and this is the first time someone wants to pay me from south africa.

I actually gave him my local bank account details (Skye Bank) and then yesterday, he sent someone to credit my bank account, But till present I haven't gotten any alert. Today he went to his own bank (ABSA in south africa) and made a payment to my same local bank account. And after some hours now I haven't received any alert. Either the one of yesterday and today.

Please what to do? Is it not possible for me to get paid to my local account from there? And how many hours should it have taken averagely? A huge sum is involved sad I will appreciate your help.
Re: Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by NoLoveLost(op): 3:28pm On Feb 24, 2015
Admin/Mod FP please thanks
Re: Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by hilaryiwens05: 3:31pm On Feb 24, 2015
yes it should..either u go to a bank affiliated to the one in nigeria or u use "swift code"
Re: Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by NoLoveLost(op): 3:34pm On Feb 24, 2015
ABSA isn't affialated with skye bank. Please can you explain what you meant by swift code?

hilaryiwens05:
yes it should..either u go to a bank affiliated to the one in nigeria or u use "swift code"
Re: Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by hilaryiwens05: 4:36pm On Feb 24, 2015
Swift Code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them.

The Swift code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office. The code formatted as below;

AAAA BB CC DDD

First 4 characters - bank code (only letters)
Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
Next 2 characters - location code (letters and digits) (passive participant will have "1" in the second character)
Last 3 characters - branch code, optional ('XXXX' for primary office) (letters and digits)

NoLoveLost:
ABSA isn't affialated with skye bank. Please can you explain what you meant by swift code?
i will suggest u should go to ur bank...dey will direct u..and if u hav a GT Bank ACCT, it will be more preferable
Re: Is Bank Transfer From South Africa Possible To A Local Nigerian Account? by iykepromotions: 7:07pm On Feb 24, 2015
@ op the answer is no. {except he uses online transfer} if not you must have a dom. account then obtain a swift code from your bank before everything will be successful. however there's no cause for alarm if the money didn't get to it's destination it will bounce back to the sender
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