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The short answer
Ask the Nigerian organisation to refund the way you paid: a card payment is usually reversed to the card, and a transfer is refunded by transfer. If it must pay to your South African account, give your full name as the bank holds it, account number, bank name and SWIFT code, branch code and address, and a refund reference. The SARB inward category list has no general refund code, so tell your SA bank it is a refund of a payment you made and ask which category it will use.
First, how did you pay?
| How you paid | The usual refund route |
|---|---|
| SA card (Visa or Mastercard) in naira or dollars | Reversal to the same card; your SA bank converts it back to rand |
| Transfer from your SA bank | Transfer back to the same account, in the currency the firm can send |
| Naira transfer from a Nigerian account | Naira back to that Nigerian account, which is the simplest |
| Cash or someone in Nigeria paid for you | Refund to the payer in Nigeria, then you move it yourself |
Asking for a refund to go back the way the money came is the quickest route because the firm's bank can match it. A card refund, in particular, avoids a new foreign exchange transaction.
If the refund must come to your SA account
Give the organisation everything its bank will need for a SWIFT payment. Write it on one page, in capitals, and ask them to copy it exactly:
- your full name exactly as your SA bank holds it;
- your account number and account type;
- your bank's name and SWIFT code (Absa, for example, publishes ABSAZAJJ), and the branch or clearing code if your bank uses one;
- your full residential address;
- the currency to send (dollars or euros are usually easier for a Nigerian firm than rand);
- the refund reference and the original booking or invoice number.
Ask the firm to send you the SWIFT confirmation (MT103) when it pays. It is your proof if the money is delayed.
How your SA bank reports it
Every inward foreign exchange payment is reported to the SARB under a balance of payments category. The inward list we checked has codes for tax refunds (411) but no general code for a refund of a purchase. When the forex desk asks, say clearly that it is a refund of a payment you made, attach the original receipt and the refund letter, and let the bank choose the category. Do not describe it as a gift.
Why Nigerian firms sometimes cannot refund in foreign currency
A Nigerian business that received your money in naira normally holds naira. To pay you in dollars it must buy foreign currency through its bank, which needs a reason and documents on the Nigerian side. Some firms will only refund in naira, to a Nigerian account. If that happens:
- ask whether the firm can refund to the card you paid with;
- if not, give a Nigerian account in your own name;
- then move the money yourself, reporting it to your SA bank when it arrives.
Example only: you paid a Lagos event company ₦800,000 by transfer from a Nigerian account for a cancelled wedding venue. It refunds ₦800,000 to that account. If you send it to South Africa at an illustrative ₦85 to the rand, you receive about R9,412 before charges. If instead it had refunded "the dollar equivalent" at its own rate, ask which rate it used and on what date.
When the firm will not refund
- Put the request in writing with the original receipt, the reason and a deadline.
- If you paid by SA card, ask your SA bank about a chargeback; banks have their own time limits.
- Nigerian consumer protection rules apply to many businesses; see refunds in Nigeria: what the law expects.
- Keep every message; a clear record helps both the complaint and your SA bank.
Refunds from Nigerian government bodies and schools
Universities, exam bodies and agencies often refund only to the account that paid, and only after a written application with the payment evidence. Allow time, and keep the remittance reference. If the original payment was made by a parent in Nigeria, the refund will usually go back to the parent. For school fee payments in the other direction, see paying school fees in Nigeria from South Africa.
Timing and charges
A SWIFT refund can pass through an intermediary bank, and each bank on the way may take a charge, so the amount that arrives can be less than the amount refunded. Ask the firm to send the payment with the charges marked as paid by the sender if it agreed to a full refund. Your SA bank will also convert the currency to rand at its rate on the day the money arrives, which may differ from the rate when you paid. If a refund has not arrived within a couple of weeks of the firm's confirmation, send the MT103 to your bank's inward payments team and ask them to trace it.
Where Pryme fits
A Pryme account opened from South Africa gives you naira account details in your name, so a Nigerian firm that can only refund in naira can pay you there. You then convert with Swap if and when you choose, seeing the rate and fee before you approve, or keep the naira for spending in Nigeria. A verifiable receipt from Pryme gives the firm clear proof of your original payment.
Questions people ask
What details do I give a Nigerian company to refund me in South Africa?
Your name as the bank holds it, account number, bank name and SWIFT code, branch code, address, the currency and the refund reference.
What BoP code does an SA bank use for a refund from Nigeria?
The inward list we checked has no general purchase refund code. Tell the bank it is a refund of a payment you made and let it choose.
Can a Nigerian firm refund in rand?
Many cannot easily. Dollars or euros to an SA account, or naira to a Nigerian account, are more common.
Should I ask for a refund to my card?
If you paid by card, yes. A card reversal is usually quickest and avoids a new transfer.
Sources
- RMB Private Bank: SARB BoP codes for inward transactions · accessed Oct 2026
- Absa: SWIFT international payments · accessed Oct 2026
- SARB: Financial Surveillance FAQ · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.