Switch, Sterling Bank’s cross-border payments and diaspora banking platform, has partnered with Thunes, a global payments network based in Singapore. The collaboration will allow Nigerians in the UK and Europe to instantly fund their Naira accounts at home, with no additional fees.
The new service enables customers to link their UK or EU bank accounts to Switch and transfer money directly to Nigeria in seconds. It supports British pound (GBP) and euro (EUR) transactions to the naira (NGN). More currency options, including USD and CAD, are expected soon.
Through the partnership, Thunes’ Direct Global Network has been integrated into Switch’s infrastructure. It is noted that this ensures instant settlements, transparent foreign exchange rates, and zero transfer charges.