₦airaland Forum

Hello nlanders, i just got a contract job with an international coy and the payment option for Nigerians is bank wire. Please how does this bank wire transfer work and the charges. can i also use my local account or i have to open a dom account?

Your quick and swift response will be appreciated guys.

kheart:
Hello nlanders, i just got a contract job with an international coy and the payment option for Nigerians is bank wire. Please how does this bank wire transfer work and the charges. can i also use my local account or i have to open a dom account?

Your quick and swift response will be appreciated guys.

Congrats. Yes, u have to open a Dom account. Walk in to any bank, request you wanna open a domicialiary account. Make sure u go with necessary account opening requirements plus 2 referres and a min of 100$ or ur preferred foreign currency.

kheart:
Hello nlanders, i just got a contract job with an international coy and the payment option for Nigerians is bank wire. Please how does this bank wire transfer work and the charges. can i also use my local account or i have to open a dom account?

Your quick and swift response will be appreciated guys.

The choice of currency is yours and not compulsory. If you choose to receive into your naira account, your bank will receive the dollar and credit your naira account at their own poor exchange rate. Whereas opening your dom will give you better advantage. Sending bank charge is usually $25 or $30 from US while some receiving banks here will charge you also (e.g. GTBank) and some receive freely (e.g. Union).

arbitrage:
The choice of currency is yours and not compulsory. If you choose to receive into your naira account, your bank will receive the dollar and credit your naira account at their own poor exchange rate. Whereas opening your dom will give you better advantage. Sending bank charge is usually $25 or $30 from US while some receiving banks here will charge you also (e.g. GTBank) and some receive freely (e.g. Union).

thanks

Hello Nairalanders, please, let suppose the amount of money am expecting is between $20 - $30 would the same charge be applicable?