Yes, Ria can send money directly to Nigerian bank accounts

Ria Money Transfer offers direct bank deposits to Nigeria through a network of partner banks. When you send money through Ria to a Nigerian bank account, the funds go straight into the recipient's account rather than requiring them to pick up cash at a physical location. The transfer typically arrives within one to three business days, depending on the receiving bank and the time of day you send.

You can initiate the transfer online through Ria's website, through their mobile app, or at a physical Ria agent location (usually found in grocery stores, pharmacies, and money transfer shops). The recipient needs to provide their bank account number, bank name, and routing information—what Nigerian banks call the bank code. Ria handles the rest of the routing through its banking partners in Nigeria.

Key Takeaways

  • Ria deposits money directly into Nigerian bank accounts within one to three business days, with no cash pickup required.
  • You can send through Ria's website, mobile app, or at an agent location, and you will need the recipient's bank account number and bank code.
  • Exchange rates and fees vary by the amount you send and the receiving bank, so compare the total cost before you transfer.
  • The recipient's bank may charge a small deposit fee on their end, which comes out of the amount they receive.

What information you need from the recipient

Before you send, ask the recipient for their full bank details. This includes their account number (usually 10 digits for Nigerian banks), the name of their bank, and the bank code—a three-digit number that identifies which bank holds the account. Major Nigerian banks include Guaranty Trust Bank (GTB), First Bank, Access Bank, and Zenith Bank, each with its own code.

The recipient's name on the bank account must match the name you provide to Ria, or the bank may reject the deposit. If there is a spelling difference or a middle name issue, contact Ria before sending to confirm the bank will accept it. Some banks are stricter about name matching than others.

Fees and exchange rates on Ria transfers to Nigeria

Ria charges a flat fee per transfer plus a percentage of the amount you send, though the exact fee structure varies. A transfer of $100 to $500 typically costs between $3 and $8, while larger amounts may have different pricing. Ria's exchange rate is set daily and is usually close to the mid-market rate, but it includes a markup that Ria keeps as part of its revenue.

The receiving bank in Nigeria may also charge a deposit fee, which is deducted from what the recipient receives. This fee varies by bank—some charge a flat amount like 100 to 200 Nigerian naira, while others charge a percentage. Ask the recipient to check with their bank about incoming transfer fees so they know what to expect.

You can see Ria's exact fee and the exchange rate before you confirm the transfer, either online or at an agent location. This lets you know the total cost and how much the recipient will actually receive in naira.

How long the transfer takes and when it arrives

Most Ria transfers to Nigerian bank accounts arrive within one to three business days. The exact timing depends on when you send the money and which bank receives it. Transfers sent early in the morning on a weekday usually arrive faster than those sent in the evening or on weekends.

Nigerian banks process incoming transfers during their business hours, which are typically 9 a.m. to 5 p.m. West Africa Time (WAT). If you send money late on a Friday, it may not be processed until Monday. Some banks are faster than others—Guaranty Trust Bank and Access Bank tend to process transfers quickly, while smaller regional banks may take the full three days.

Once Ria sends the money to the receiving bank, you cannot cancel or recall it. If there is an error in the account number or bank code, the money may be rejected and returned to you, which can take an additional week or more. Always double-check the recipient's details before you send.

Sending money online versus at an agent location

Ria's website and mobile app let you send money from home using a debit card, credit card, or bank account. You create an account, enter the recipient's bank details, choose the amount, and pay the fee. The process takes about 10 minutes, and you receive a confirmation number immediately.

At a Ria agent location, you can pay with cash, a debit card, or a credit card. An agent will fill out the form with you, verify the recipient's information, and process the transfer on the spot. This method works well if you prefer not to use online banking or if you want to pay with cash. Agent locations are often open longer hours than banks, including evenings and weekends.

What happens if the transfer is rejected or delayed

If the receiving bank rejects the transfer because of an incorrect account number or bank code, Ria will attempt to return the money to your original payment method. This reversal can take five to ten business days. You will receive a notification from Ria explaining why the transfer was rejected.

If the money does not arrive after three business days, contact Ria's customer service with your transfer reference number. They can check the status with the receiving bank in Nigeria and tell you whether the money is still in transit, has been rejected, or has been delivered. Keep your confirmation number and receipt until the transfer is complete.

In rare cases, a transfer may be held by the receiving bank for compliance reasons, especially if the amount is large or if the bank flags it for review. This hold can last a few days. The recipient should contact their bank directly if they see the money has arrived but is not yet available in their account.

Limits on how much you can send

Ria does not publish a single maximum transfer amount, but limits vary based on your payment method and account history. First-time senders typically have lower limits than established customers. Sending through a bank account usually allows larger amounts than sending with a debit card.

If you need to send more than a few thousand dollars, contact Ria directly to ask about your specific limit. You can also split a large transfer into multiple smaller transfers, though this will cost you multiple fees. Some customers send money in installments over several days to stay within their limits.

Frequently Asked Questions

Can the recipient withdraw the money as cash from their bank?

Yes. Once the money arrives in their bank account, the recipient can withdraw it as cash at an ATM or at a teller window during business hours. They can also use it to pay bills, transfer it to another account, or leave it in their account. The money is theirs to use however they choose once it is deposited.

What if I send money to the wrong bank account by mistake?

Contact Ria immediately with your transfer reference number. If the money has not yet been processed by the receiving bank, Ria may be able to stop it. If it has already been deposited into the wrong account, you will need to contact that bank and ask them to reverse the transfer. This process is slow and not always successful, so prevention is critical—always verify the account number and bank code before you send.

Does Ria report transfers to Nigeria to the IRS or other authorities?

Ria reports large transfers as required by U.S. law. Transfers over $10,000 trigger a Currency Transaction Report (CTR) filed with the Financial Crimes Enforcement Network (FinCEN). This is routine and does not mean you have done anything wrong. If you send multiple transfers that total over $10,000 in a short period, Ria may file a Suspicious Activity Report (SAR), which is a separate compliance requirement.

Can I send money to a business account in Nigeria, or only personal accounts?

Ria can send to both personal and business bank accounts in Nigeria. The process is the same—you provide the account number, bank name, and bank code. Business accounts may have different name-matching rules or additional verification requirements, so confirm with the business that the account details you have are correct before you send.

What happens if the Nigerian bank is closed when my money arrives?

The money will sit in the bank's receiving queue until the bank opens. Nigerian banks are typically closed on weekends and public holidays. If you send money on a Friday evening, it will not be processed until Monday morning. The recipient will see the deposit in their account once the bank processes it, usually within a few hours of opening.