How can I send money using ICICI Bank credit card to Nigeria?

Sending money to Nigeria using an ICICI Bank credit card isn't a direct process through the bank itself for international remittances. ICICI Bank, like most traditional banks, doesn't typically facilitate direct international money transfers *from* a credit card. Credit cards are primarily designed for purchases and cash advances, not for funding remittances directly.

The way to approach this would be to use a third-party money transfer service that accepts credit cards as a funding method. Many fintech platforms and money transmitters do allow you to pay for a transfer with a credit card, and then they send the money to your recipient in Nigeria.

Here's the thing: when you use a credit card to fund a money transfer, it's often treated by the card issuer as a cash advance, not a purchase. This is a crucial distinction because cash advances usually come with higher fees and interest rates that start accruing immediately, unlike purchases which often have a grace period. So, while it might seem convenient, it can be a more expensive way to send money.

For sending money to Nigeria, you've got several options among the major fintech platforms. Remitly is a strong contender, offering various receiving methods like bank deposit to accounts with banks like First Bank, Zenith Bank, or GTBank, and also cash pickup at numerous locations. WorldRemit is another excellent choice, well-known for its mobile money options and cash pickup network, which can be very convenient in Nigeria. Xoom, a PayPal service, also facilitates transfers to Nigeria, often supporting bank deposits and cash pickup. Even traditional players like Western Union and MoneyGram have extensive networks in Nigeria for cash pickup and sometimes bank transfers, and they typically accept credit cards for funding online transfers.

The process usually involves selecting Nigeria as the destination country, entering the amount, choosing "credit card" as your payment method, and then providing your recipient's details, whether it's their bank account number or their name and a pickup location.

Before you commit, always compare the exchange rates and fees across different providers. The exchange rate margin can significantly impact how much Naira your recipient gets. Also, be mindful of the credit card fees and interest charges from your ICICI Bank credit card. Sometimes, using a debit card or directly linking your bank account to the money transfer service can be a much more cost-effective way to fund the transfer, even if it means a slightly longer processing time. And remember, compliance checks are standard; you'll likely need to complete KYC verification with the money transfer service, especially for larger amounts, and they'll screen transactions for AML and OFAC compliance.