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Find the best way to send money to Nigeria

Learn how to send money to Nigeria from the US in our step-by-step guide.

Looking for the best way to send money from the United States to family, friends or businesses in Nigeria (or even to your own overseas bank account)?

Don't head straight to your American bank – compare specialist money transfer services instead. They nearly always offer better NGN exchange rates and lower fees, so for the same amount of US dollars you send, your recipient will receive more nairas.

Of the companies we've compared, Remitly is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Wise (TransferWise) can get money to your recipient in Nigeria within minutes.

Best ways to send money to Nigeria from the US

The best way to send money to Nigeria depends on your payment method, how you want your money to be received and how fast you need it to arrive.
  • Online money transfer provider. When buying US dollars or nairas money transfer specialists typically offer better rates and cheaper fees than a local bank.
  • Bank transfer. Bank transfers are an easy way to send money to Nigeria but they charge extra for the convenience and are often slower than other methods. US banks generally add a 3% to 6% markup onto exchange rates.
  • Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Nigeria.
  • Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
  • Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.

Compare the best money transfer companies to send money to Nigeria

Use our table to compare the best money transfer companies to send money to Nigeria. You can compare deposit and receiving options, fees and transfer speeds, then click the "Go to site" button when you've found the best one to get your money to Nigeria.
1 - 6 of 6
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer. Plus, Get $5 USD off your first $200+ transfer with code INSTAREM5 by Jan 10, 2024.
Instarem offers offers rewards on every transaction.
Revolut
Revolut
Within minutes
From $0
Revolut offers international exchange rate for over 150+ currencies and transfers within 30 minutes.
Revolut
Revolut
Within minutes
From $0
Revolut offers international exchange rate for over 150+ currencies and transfers within 30 minutes.
Revolut
Revolut
Within minutes
From $0
Revolut offers international exchange rate for over 150+ currencies and transfers within 30 minutes.
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Cheapest way to send money to Nigeria

Bank transfers are typically the cheapest way to get your money to Nigeria. Remitly and Revolut have some of the lowest bank transfer fees of the brands we've compared.

When you're hunting down the cheapest ways to send money to Nigeria, it's more important to look at the overall cost of your transfer. This has a couple of elements:

  • Transfer fees. While still cheaper than your American bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
  • Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market USD/NGN exchange rate.

Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many nairas your recipient will end up with.

Fastest way to send money to Nigeria

Many online providers can offer transfers to Nigeria within minutes, although you're likely to pay a premium for the convenience.

Here are some of the fastest average transfer speeds to Nigeria:
  • Wise (TransferWise) — within minutes
  • Remitly — within minutes
  • Revolut — within minutes

Actual transfer times from the United States to Nigeria can depend on several different factors including transfer amount, payment method and currency.

Safest way to send money to Nigeria

The safest way to get your money to Nigeria is to use a provider registered with the United States's industry regulator, the Consumer Financial Protection Bureau. All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United States and Nigeria.

A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.

Large money transfers to Nigeria

If you need to make a sizable money transfer to Nigeria, consider using a provider such as Revolut to benefit from its expertise in handling larger transfer amounts.

Using a large transfer specialist can have the following advantages:
  • Tax guidance. Large transfers to Nigeria may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on IRS's latest advice.
  • Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the NGN exchange rate you want.
  • Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
  • Phone service. If you want to talk your transfer through with someone, providers such as Wise (TransferWise) and Remitly can give you support over the phone.

How to send money to Nigeria from the US

To send money to Nigeria, you'll need the necessary documentation, your recipient's details and a way to pay.

  1. Compare your options.
    Use our table to find a money transfer provider that sends funds to Nigeria. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".
  2. Create an account.
    You'll need to give your name, address, contact details, proof of ID and method of payment.
  3. Provide your recipient's details.
    Enter your recipient's name and contact information. If you're sending straight to their Nigerian bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.
  4. Enter your transfer amount.
    Check you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total nairas your recipient gets.
  5. Complete your transfer.
    Send your money transfer to Nigeria. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.

Example: Muhammad sends money to Nigeria

Muhammad is working in the United States as a financial analyst and he stays in regular contact with his elderly parents back home in Nigeria. His parents need some funds to help pay off a mortgage, so Muhammad plans to send them $2,000 from the United States.

He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.

Bank Money transfer company
Exchange rate 1 USD = 785.60 NGN 1 USD = 796.00 NGN
Transfer fee $10 $2.50
Transfer method Bank account deposit Bank account deposit
Processing time 2 - 5 working days Next day
Amount received 1,563,344.00 NGN 1,590,010.00 NGN

The money transfer company enables Muhammad to send an extra ₦26,666.00, which is transferred straight to his parents' Zenith Bank account.

How to choose the best money transfer companies to send money to Nigeria

When choosing a money transfer provider to send money from the United States to Nigeria, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

  • Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the NGN you're offered to the mid-market rate and look for the smallest difference.
  • Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Nigeria for a flat or low fee might work out better if you plan to send a large amount.
  • Transfer type. Does your recipient have a Nigerian bank account or is cash or cell phone top-up a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
  • Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as Instarem offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to Nigeria faster and cheaper than banks.
  • Transfer limits. Find out how much you can send with each service. For example, Remitly has a transfer limit of $2,999 while Instarem allows unlimited transfers.
  • Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of nairas.

Is this a good time to send money to Nigeria?

Compared to a month ago, the US dollar is stronger against the naira. Currently $5,000 is equivalent to ₦4,000,000.00, whereas a month ago, $5,000 was equivalent to ₦3,930,450.00. That's an increase of 1.77% over the past month.

Similarly, compared to a year ago, the US dollar is again stronger against the naira. A year ago, $5,000 was equivalent to ₦2,221,550.00. That's an increase of 80.05% over 12 months.

So based on those two quick glances back, yes, it's a relatively good time to send money to Nigeria, and your US dollars will go further than they would have. But what's more important, however, is where the strength of the US dollar against the naira goes from here – which is harder to call.

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Frequently asked questions

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise) Business for e-commerce
Within minutes
From $8.16
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer. Plus, Get $5 USD off your first $200+ transfer with code INSTAREM5 by Jan 10, 2024.
Instarem offers offers rewards on every transaction.
PayPal (business)
Within minutes
$0
Provides business solutions for small business owners in over 24 currencies worldwide. Try 3 months free of Spotify Premium when you sign up with PayPal.
Wise (TransferWise) offer
Within minutes
From 0.41%
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Wise (TransferWise) International Money Transfers Business
Within minutes
From $8.16
Enjoy high maximum transfers into more than 20 currencies, while saving up to 90% over local banks.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit - 4free
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
MoneyGram
Within minutes
From $0
First online transfer is free.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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80 Responses

    Default Gravatar
    OlumuyiwaDecember 10, 2020

    Can the recepient cash the sent money to Nigeria through moneygram in usd(dollar

      AvatarFinder
      ZakDecember 10, 2020Finder

      Hi,
      Thank you for reaching out to finder.

      When you are setting up a transfer through MoneyGram you will have the option to choose the delivery method and currency. If USD is an option, then your recipient will be able to receive the money in USD. According to MoneyGram’s website you can send USD for cash pickup in Nigeria, but confirm that before you pay and send the money.

      I hope this clears things up.
      Regards,
      Zak

    Default Gravatar
    TracyDecember 11, 2019

    Please how can one send money from USA to Nigeria. Instant bank transfer as world remit has blocked my fiancé.

      Default Gravatar
      nikkiangcoDecember 12, 2019

      Hi Tracy,

      Thanks for your comment and I hope you are doing well.

      Sorry to hear that WorldRemit blocked your fiance. There are other international money transfer providers to Nigeria that you can consider using. Use the table above to compare money transfer providers in terms of fees, exchange rates and other features to help you find one that may be suitable for you.

      Once you’re ready, you can use the ‘Go to site’ button to sign up with your preferred service provider and start using their service or get in touch with their representatives for further inquiries you may have.

      A friendly reminder, observe the fluctuations of exchange rates as they can change anytime and read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations for the receiver.

      Hope this helps and feel free to reach out to us again for further assistance.

      Best,
      Nikki

    Default Gravatar
    MaryJuly 11, 2019

    Please how can I receive money from India to my Nigeria account

      AvatarFinder
      fayemanuelJuly 12, 2019Finder

      Hi Mary,

      Thanks for contacting Finder.

      Thanks for reaching out! Unfortunately, we don’t have a comparison page with a list of brands that allow you to send money from India to Nigeria. The companies listed above are available to people in the US only. You might want to check the Internet or your local area for any money transfer service provider who could accommodate your need.

      Kind Regards,

      Faye

    Default Gravatar
    NathanielJuly 4, 2019

    I want the requirement needed to transfer money from Mexico to Nigeria by bank account

      AvatarFinder
      BellaJuly 4, 2019Finder

      Hi Nathaniel,

      Thanks for your inquiry.

      To make a wire transfer, you need the following details from your recipient:

      – full name
      – bank account number
      – bank routing number, SWIFT, BIC or IBAN codes (for international wire transfer)

      I hope this helps.

      Kind regards,
      Bella

    Default Gravatar
    JanetMarch 18, 2019

    What is the easiest way I can receive money from Algeria while am in Nigeria

      Default Gravatar
      nikkiangcoMarch 18, 2019

      Hi Janet,

      Thanks for reaching out! Unfortunately, we don’t have a comparison page with a list of brands that allow you to send money from Nigeria to Algeria. The companies listed above are available to people in the US only. You might want to check the money service providers available in Nigeroa.

      I’m sorry I couldn’t be of more help.

      Best,
      Nikki

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