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.
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Ayodeji Saba, Head of Switch and Remittance at Sterling Bank, described the partnership as a turning point for Nigerians in the diaspora.
“This is about speed, simplicity, and control,” Saba said. “Nigerians in the UK and Europe can now link their pound or euro accounts directly to Switch and instantly top up Naira for bills, family support, or investments at home.”
He added that the service is secured with BVN and NIN verification, offering a smooth and compliant transfer experience.
“With Switch and Thunes, Nigerians abroad can top up their Naira accounts in seconds, starting from £10 or €10, with zero fees,” he said. “It’s instant, seamless, and secure — setting a new benchmark for Africa’s diaspora banking experience.”
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Daniel Parreira, Senior Vice President for Sales, Africa, at Thunes, said the collaboration will make cross-border payments more accessible and transparent for Nigerians.
“By joining Thunes’ Direct Global Network, Switch customers in the UK and Europe will enjoy instant and dependable transactions,” he said. “It gives the diaspora more control over their finances and immediate access to funds at home.”
The move comes as competition intensifies in Nigeria’s remittance and cross-border payments market. In recent months, fintechs such as Moniepoint have expanded aggressively into global transfers with the launch of MonieWorld. Platforms like Flutterwave’s Send, Grey, and LemFi are also targeting the same segment, offering instant remittances and multicurrency accounts to millions of diasporan Africans.
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Industry analysts say these innovations reflect growing efforts to capture Nigeria’s $20 billion annual remittance inflow, one of the largest in Africa. The market has become a key battleground for banks and fintechs seeking to build loyalty among the diaspora community and drive foreign exchange liquidity into the country.
Thunes operates one of the largest global payment networks, connecting over 7 billion mobile wallets, bank accounts, and 15 billion cards across 130 countries. It processes payments in more than 80 currencies and partners with major firms including Uber, PayPal, Revolut, Deliveroo, and Remitly.