Stanbic IBTC, the wealth-management favourite. Money from abroad, straight to your account at the live rate.
Someone abroad sends USDT to your permanent Monica deposit address, from any exchange, any country, any time. When the deposit confirms on the network (seconds to a couple of minutes on TRC-20), you convert at the live USDT/NGN rate and withdraw. The naira lands in Stanbic IBTC in 30 to 60 seconds via nibss, riding the same NIBSS instant rails as any local transfer. The sender never needs your Stanbic IBTC details, and you never need a domiciliary account.
Cost: the whole chain costs the sender about $1, against the 8.8% World Bank average for traditional remittances. Rate: conversion happens at the live market rate, not a remitter's payout rate. Control: money arrives as dollars (USDT) and you decide when to convert, which many families use to hold value against naira moves. And it works at 3am on a Sunday exactly as well as Tuesday noon.
"I used to lose almost ₦40,000 in fees every month on transfer charges. Switched to USDT and my mum gets the full amount in her GTBank."
"The rate is the real difference. With USDT my family gets the open-market rate, that's an extra ₦15k on $500 compared with what we used to receive."
"My parents are retired and not tech people. They only see the UBA alert, I handle the USDT side from Germany. Simple."
"No more asking my cousin to queue for cash pickup. I send USDT, she taps withdraw, and the money is in her GTBank in minutes."
Yes. Convert USDT to naira on Monica at the live rate and withdraw directly to your Stanbic IBTC account, payout typically completes in 30 to 60 seconds via nibss after you tap withdraw.
30 to 60 seconds via NIBSS after conversion. The transfer rides NIBSS instant rails, the same system Stanbic IBTC uses for regular instant transfers.
0% conversion fee and 0% withdrawal fee on Monica. The only cost in the entire remittance chain is the sender's ~$1 network fee.
No, that's a nice property of the route. The sender only ever sees your USDT address. Your Stanbic IBTC account details stay inside your own Monica app.
The live USDT/NGN market rate displayed at the moment you convert. No remitter markup.
Yes. Monica supports withdrawal to every on NIBSS Nigerian bank and wallet, add as many payout accounts as you like.
0% conversion fee on the Nigeria side. Live market rate. Setup takes about 4 minutes.
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