UK based Transferbee launches free transfers to Nigeria

Money Transfer

Transferbee enables Nigerians living in UK to send money to their family and friends in Nigeria cheaper than through banks or other systems. The company is normally charging only 4.5 pounds for the transaction. Today the company announced that there will be no transfer charge until May 1st.

“After our initial launch we continued to build the product and offered the best conditions in the market to send money from UK to Nigeria. In order to invite even more people to try out our service, we are offering free transfers for all April period”, Titas Bledis, CEO of Transferbee talked about the campaign.

Transferbee also signed a partnership with Stanbic IBTC in Nigeria and from now on all Stanbic IBTC mobile money wallet owners can receive money using Transferbee. Even if the receiver does not have a mobile money wallet, the wallet will be automatically created.

The way the service works is that money will be sent directly to the mobile phone in Nigeria using a growing mobile money ecosystem in the country. The transfers are done in just 24 hours and the receiver can redeem the money in 1000s of cash-out points without the need to visit the bank.