Best way to send money to Nigeria | finder.com

How to send money to Nigeria

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Whether you are doing business in downtown Lagos or helping friends or family in Abuja, sending money to Nigeria shouldn’t be difficult and costly.
Comparing a host of international money transfer options let’s you find the best deal that fits your timeline and budget.
MoneyGram International Money Transfers

MoneyGram International Money Transfers

Send funds to more than 200 countries and territories around the world with a MoneyGram international money transfer.

  • Pick up cash within minutes.
  • Send a transfer from one of the 350,000 MoneyGram locations around the globe.
  • Bank deposit available directly into your or the receiver’s account.
  • Mobile wallet deposit available.

    Compare international money transfers to Nigeria

    Use our interactive table to compare transfer fees, exchange rates and other details for sending funds to Nigeria with our money transfer partners.

    I want to send

    to

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 1 Within an hour USD 3.99 360.456 NGN 1,800,844 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
    USD 1 1 day USD 8.00 351.145 NGN 1,752,916 Easily transfer cash to more than 350,000 locations around the world. Go to site Show details
    GBP 5,000 1 - 2 days USD 0.00 360.093 NGN 1,800,464 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

    Compare up to 4 providers

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    Steps to send money to Nigeria

    1. Create a free account with a money transfer service and provide your name, contact information, proof of identity and bank account information if you are not sending cash.
    2. Provide contact information for your transfer recipient.
    3. Select a payment option and enter the full details of your transfer,.
    4. Keep track of the reference number or receipt you receive to monitor the progress of your transfer.
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    How do international money transfers work?

    An international money transfer allows you to send money to friends, family and businesses overseas. Generally, it involves you sending cash or money from your bank account to an intermediary transfer service or bank, which then exchanges and sends the money to your recipient in another country — in this case, Nigeria.

    Depending on the provider, you can initiate a money transfer in person, online or by phone. Your cash or bank account transfer is then either deposited into your recipient’s bank account or made available as cash for pickup at a location in their country.

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    Banks vs. money transfer companies

    Many major US banks offer the option to send funds to Nigeria. But they typically charge high transfer fees and offer exchange rates that are significantly lower than the mid-market rate — or the rate banks and transfer providers use when trading among themselves.

    A reputable money transfer specialist can often offer better exchange rates and charge lower fees, saving you money and putting more Nigerian naira into your recipient’s pocket.

    Jonathan sends $1,000 to Nigeria

    Jonathan wants to send $1,000 from the US to Nigeria to help his wife cover some of the costs associated with raising their children. His bank doesn’t send funds to Nigeria, so he is comparing the services of two money transfer companies — one that offers transfers that take place within minutes.

    Money Transfer Company AMoney Transfer Company B
    Exchange rate1 USD = 193.575 NGN1 USD = 193.787 NGN
    Transfer fee$6$81 for money in minutes; $12 for bank account transfers
    Transfer speed2 business days1 hour for money in minutes; 4 business days for bank account transfers
    Transfer options
    Bank account depositCash pickup, bank account deposit
    Total NGN received193,575 NGN193,787 NGN

    Jonathan’s comparison shows that even a small difference in exchange rates can make a noticeable difference in the amount you transfer. Transfer fees vary greatly depending on the transfer method you choose.

    How to compare transfer companies when sending money to Nigeria

    By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.

    • Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
    • Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
    • Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
    • Transfer speed. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
    • Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
    • “Hedging” options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
    • Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.

    Foreign exchange rates explained

    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. For example, in January 2018 one US dollar was worth 360.50 Nigerian naira.

    Nigeria’s exchange rate is flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
    Currency exchange rate for Nigeria

    Options for sending money to Nigeria from America

    • Bank transfers. Many major US banks will allow you to wire money to banks in Nigeria.
    • Online money transfer services. It’s simple and convenient to send an online money transfer to Nigeria from the comfort of your home.
    • Providers with cash pickup. Companies like Western Union and MoneyGram offer the option of cash pickups from thousands of agent locations across Nigeria.
    • Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
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    Emergency cash transfers in Nigeria

    You might need to send an emergency cash transfer to Nigeria — for example, if a friend traveling through the country loses their wallet. But when you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option.

    Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.

    Cash pickup locations

    Western Union, MoneyGram and Ria provide the three largest money transfer networks in the world, with thousands of agent locations around the globe. You’ll need to pass your transaction reference number on to your recipient to allow them to pick up your funds. They’ll also need to bring along a photo ID.

    Tips for picking up cash in Nigeria

    Whether picking up funds in Nigeria or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.

    • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
    • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
    • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
    • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.

    Cash pickup locations in Nigeria

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    56 Responses

    1. Default Gravatar
      BaskhoderOctober 17, 2018

      A friend of mine in Texas USA wants to send me money straight into my Nigeria account please how can he do that and how long will it takes to get to me

      • finder Customer Care
        AshOctober 17, 2018Staff

        Hi Baskhoder,

        Thank you for contacting us.

        Your friend can send you the money then it will be deposited directly to your Bank Account in Nigeria if the Money Transfer provider that he will use has a Bank Account to Bank Account service. The good news is that all the providers listed above has this feature so your friend can inquire directly to them regarding the fees and the information that needs to be supplied.

        The time frame for the money transfer differs from how the Sender will pay for the transaction though it usually takes at least 3-5 business days or more depending on the information that the bank requires.

        I hope this helps.

        Please do not hesitate to reach out again to us if you have additional questions that you need assistance with.

        Cheers,
        Ash

    2. Default Gravatar
      UcheOctober 15, 2018

      MY wife Is being refused to send money to Nigeria after she went to a moneygram outlet i don’t know why but it’s really frustrating considering the fact that I need funds to get back and also finish a project ,moneygram Ria and western union are not letting her send money ,pleasecwhat can I do please I need help

      • finder Customer Care
        nikkiangcoOctober 16, 2018Staff

        Hi Uche,

        Thanks for reaching out to us. We’re very sorry to hear about what happened to your wife.

        Try using the other options on our page that shows the 2 other money transfer providers. Also, try to do an online transfer if going to the store itself is challenging.

        Hope this helps! Feel free to message us again if you need further assistance.

        Regards,
        Nikki

    3. Default Gravatar
      AnthonyOctober 14, 2018

      I want to know if it’s possible for someone in Indiana New Castle America go into any bank around and send money to a Nigerian dollar account even if the person don’t have an account with the bank

      • finder Customer Care
        AnndyOctober 15, 2018Staff

        Hi Anthony,

        Thanks for your question.

        Most major banks in the US offer wire transfer services, however, to send money, you need to have an account with that bank.

        If the sender doesn’t have a bank account, an alternative option is to send through money transfer companies. You may compare some of the possible options in our table above. These companies allow you to send money to a bank account, mobile or for cash pickup.

        I hope this helps.

        Cheers,
        Anndy

    4. Default Gravatar
      LanaOctober 12, 2018

      Hello I would like to know, how long does it take from Barbados to Lagos Nigeria, for the person to receive their money from Barbados to Lagos Nigeria.

      • finder Customer Care
        joelmarceloOctober 13, 2018Staff

        Hi Lana,

        Thanks for leaving a question on finder.

        That depends on a range of factors, but at the top of the list is the bank or money transfer company you choose to handle the transaction in sending money to Nigeria. The table HERE shows the processing times for some popular money transfer providers and banks.

        Transfer times vary from a few minutes to up to five days, with some companies only offering an approximate range rather than a specific number of days, so it’s a little difficult to work out an accurate overall average transfer speed.

        Please send me a message if you need anything else. :)

        Cheers,
        Joel

    5. Default Gravatar
      BucksyOctober 10, 2018

      Please can someone receive money from google pay directly to a Nigerian account given that google pay only works in the US

      • finder Customer Care
        johnbasanesOctober 11, 2018Staff

        Hi Bucksy,

        Thank you for leaving a question.

        Based on Google Pay’s terms of service, this is currently locked within the US region for use. Not to worry, Google is looking to expand this internationally so you may want to check on updates for this service. Hope this helps!

        Cheers,
        Reggie

    6. Default Gravatar
      SammySeptember 24, 2018

      please,what’s Lagos,Nigeria zip code for collecting money in Western Union

      • finder Customer Care
        johnbasanesSeptember 25, 2018Staff

        Hi Sammy,

        Thank you for leaving a question.

        Depending on the district in Lagos, the zip codes may vary between 100001 to 100242. Hope this helps!

        Cheers,
        Reggie

    7. Default Gravatar
      MichaelSeptember 18, 2018

      Money was sent to me from USA via MoneyGram addressing it to Jos Nigeria. Can I get it in Lagos Nigeria?

      • finder Customer Care
        joelmarceloSeptember 19, 2018Staff

        Hi Michael,

        Thanks for leaving a question on finder.

        You can pick-up your money transfer from any MoneyGram location near you.

        Please send me a message if you need anything else. :)

        Cheers,
        Joel

    8. Default Gravatar
      PrinceSeptember 17, 2018

      I want to pay for something in dollars online, and the money in my account is in naira, what will I do?

      • finder Customer Care
        johnbasanesSeptember 18, 2018Staff

        Hi Price,

        Thank you for leaving a question.

        There are a couple of ways to have your money converted to US dollars and use it to purchase items online. The best way is to have your Naira converted into Dollars via a bank or a money exchange shop located near you. Once you have the amount converted, you may load it in a prepaid debit/credit card that has a Visa or Mastercard logo on it. That gives you the ability to make purchases easily online. Hope this helps!

        Cheers,
        Reggie

    9. Default Gravatar
      FranklinSeptember 14, 2018

      A friend wants to send a check to me in Nigeria. He’s in the US. Is it possible for me to cash the check in a Nigerian bank?

      • finder Customer Care
        nikkiangcoSeptember 15, 2018Staff

        Hi Franklin,

        Thanks for your message and for contacting finder.

        To cash a check in Nigeria that will be sent to you by a friend, you must check first what bank the check is from then check with your bank (where you’re encashing the check) if they can encash the check for you.

        Hope this helps! Feel free to message us should you have further questions.

        Best regards,

        Nikki

    10. Default Gravatar
      GabrielSeptember 7, 2018

      Hello please can i receive money from South Carolina to Nigeria through money gram into a domiciliary account

      • finder Customer Care
        johnbasanesSeptember 7, 2018Staff

        Hi Gabriel,

        Thank you for leaving a question.

        Currently, Moneygram does not offer receiving money from a domiciliary account in Nigeria. You may however receive the money at a local agent location and have it deposited into the account. Hope this helps!

        Cheers,
        Reggie

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