How to send money to Nigeria without ridiculous fees

Information verified correct on December 9th, 2016

SendmoneytoNigeriaNeed to send money to Nigeria from the United States? Compare a range of transfer options to get the best possible deal

According to current population studies, about 376,000 Americans claim to have Nigerian heritage. That’s why an increasing number of Americans are looking to send money to Nigeria quickly and conveniently.

Sending money from the United States to Nigeria doesn’t have to be expensive. Compare your international money transfer options to find one that’s best for you.

Rates last updated December 9th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
WorldRemit International Money Transfers
An online money transfer service ... with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Transfer money into a range ... of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money between 20 currencies ... and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Travelex International Money Transfers
Get your foreign currency delivered ... to your home or pick up at a store.
USD 500 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 online transfer fee that ... you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
USForex International Money Transfers
Take advantage of competitive exchange ... rates and cheap transfer fees.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
Rates are always
changing, click to check
your price today
Go to site More
MoneyGram International Money Transfers
Send money anywhere, from anywhere.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
TorFX guarantee to beat any ... competitor's exchange rate for a transaction. Conditions apply
USD 100 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Western Union Money Transfers
Send money online to friends ... and family around the world with Western Union.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More

Banks vs. money transfer companies or services

The Nigerian naira is a rare currency in global terms, which means it’s harder to find a bank that will allow you to send this currency overseas. In any case, banks typically charge high fees and attach poor exchange rates to the international money transfers they handle.

With this in mind, you could be better off considering the services offered by a money transfer company. These providers are experts at moving money internationally, typically charging lower fees and offering better exchange rates than banks. Some services even make your funds available for collection in Nigeria minutes after you send your transfer.

Jonathan sends money to Nigeria

Jonathan wants to send $1,000 from the United States 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 specialist money transfer companies — one that offers transfers that take place within minutes.

Transfer company ATransfer company B
Exchange rate1 USD = 193.575 NGN1 USD = 193.787 NGN
Transfer fee$6$81 for money available in minutes, $12 for transfers to a bank account
Transfer methodBank account depositCash pickup, bank account deposit
Processing time2 business days1 hour for money in minutes, 4 days for bank account transfers
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, while fees vary greatly depending on the transfer method you choose.

How to compare transfer companies when transferring money to Nigeria

  • Exchange rates. See how each provider’s exchange rates stack up against the competition, but remember that better exchange rates may come with higher fees.
  • Fees. Compare the fees charged for each transfer, including those for different payment methods or faster transfer times.
  • Transfer methods, options and times. Can you schedule transfers online, in a branch or over the phone? Can you schedule payments ahead of time or take advantage of changing rates with a market order? How long will it take for your funds to arrive to your recipient? (Bank deposits usually take a few days, while cash pickups are typically quicker.)
  • Pickup methods. Can the money be picked up in person, or will it be deposited into a bank account?
  • Minimum amounts. Some money transfer companies impose minimum limits on each transaction, which can be restricting if you don’t want to send a large amount of cash.
  • Customer service. Compare whether each company offers phone, email or live chat support as well as specific hours that support is available.

How to send money to Nigeria from America

  • Bank transfers. Ask your bank about transferring money from your account to a Nigerian bank account.
  • Money transfer services. Companies like WorldRemit allow you to quickly and easily send money transfers online.
  • Transfer services with cash pickup. Consider companies like Western Union and MoneyGram when sending funds to Nigeria.
  • Checks. Sending an international guaranteed check is another way to ensure that your money arrives to its intended recipient.

Emergency cash transfers in Nigeria

If you need to send an emergency cash transfer to Nigeria, be aware that you may have to pay to ensure that your money arrives as quickly as possible.

Some money transfer providers charge high fees and lower exchange rates when sending emergency transfers, so carefully check the rate and fees that apply to any transaction before transmitting your funds.

Cash pickup locations: Western Union and MoneyGram branches in Nigeria

Western Union and MoneyGram are the two largest international money transfer services in the world, each having thousands of agent locations across the globe. If you send money via one of these services for cash pickup, pass your transaction reference number on to your cash recipient. Make sure they take photo ID along when they pick up the funds.

Popular Western Union and MoneyGram locations in Nigeria include:

Western Union

Lagos

Abibu Oki
29/32 Abibu Oki Street
Off Broad Street
Lagos, Lagos 23401
+234-01-7616622
Open 8 a.m. to 6 p.m., Monday to Saturday

Access Bank PLC
Block B Nnpc Towers Herbert
Abuja, Lagos
+234-012710012
Open 8 a.m. to 5 p.m. daily

Kano

Access Bank PLC
Katin Kwari Ibrahim Taiwo Road
Kano, Kano
+234-012710012
Open 8 a.m. to 5 p.m. daily

Afribank Nigeria PLC Misau
Kukadi Main Street Misau
Misau, Kano
+234-1-2712300
Open 8 a.m. to 5 p.m., Monday to Friday

MoneyGram

Lagos

United Bank for Africa
Joseph Street Igbosere 14
Lagos, 0
+234-6-6710409
Open 8 a.m. to 5 p.m., Monday to Friday

United Bank for Africa
Broad St Uba House 135
Lagos, 0
+234-1-2642236
Open 8 a.m. to 4 p.m., Monday to Friday

Kano

United Bank for Africa
Ta Abum Line Kanti Kwari Market 52
Kano, 0
+234-6-37595
Open 8 a.m. to 5 p.m., Monday to Friday

Sterling Bank PLC
9 Ali Akilu Road
Kano, 23401
8075292042
Open 8 a.m. to 5:30 p.m., Monday to Friday;
10 a.m. to 2 p.m., Saturday

Tips for picking up cash in Nigeria

When you pick up cash from an agent location in Nigeria (or anywhere else around the world), take a few simple safety precautions to ensure your security:

  • Take a friend along for extra security.
  • Avoid areas where muggings and other crimes are common.
  • Do not overtly display your wealth in front of strangers.
  • Head straight to a bank to deposit the funds.

How to send money to Nigeria

Although the exact transfer process differs between providers, you will usually need to sign up for an account before you can send funds, supplying your name, address, contact information, proof of ID and sometimes your payment details.

Once you’ve scheduled a transfer, keep track of the receipt or reference number you are given — this will come in handy when you need to check on the progress of your transfer.

Sending money to Nigeria online is fast, easy and convenient. Just make sure to compare your transfer options before deciding on the right funds transfer provider for you.

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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

USForex International Money Transfers

Take advantage of competitive exchange rates and cheap transfer fees.

World First Foreign Exchange

Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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