Send money to Nigeria with WorldRemit
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
- No minimum transfer amount
- Large range of destinations
- Competitive exchange rate
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Because of recent regulation changes from the Central Bank of Nigeria, your recipient will no longer be able to receive your transfer in Nigerian naira. However, they’ll still be able to receive it in US dollars.
With this in mind, the best way to send money to Nigeria largely depends on how much you’re sending and your payment method. Fast delivery makes WorldRemit and Western Union strong picks for speed. Look to WorldRemit and MoneyGram for cash transfers that beat Western Union’s fees. Overall you’ll want to compare digital money specialists for strong exchange rates, low fees and fast turnaround to get the best deal on your transfer.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Use our interactive table to compare transfer fees, exchange rates and other details for sending funds to Nigeria with our money transfer partners.
No, not at this time. Because of government restrictions on how funds can be received, money transfer services can only deliver US dollars to your recipient in Nigeria until further notice. Read the official document from the Central Bank of Nigeria for more details on the situation.
Sign up and send money with a digital money transfer specialist in four steps:
Online money transfer providers usually offer the strongest exchange rates and lowest fees on money transfers to Nigeria. Some offer transfers straight to Nigerian bank accounts, while others allow the money to be picked up in US dollars in person. PayPal, banks and other options are available but come with high fees, weak rates and longer turnaround times.
Companies like CurrencyTransfer specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Nigerian bank account, often in as little as a day or two.
Restrictions in Nigeria make it difficult to send naira for cash pickup, so you’ll need to send US dollars. Services like MoneyGram allow you to transfer cash for pickup at a local branch in Nigeria — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, compare digital services like WorldRemit to MoneyGram when possible to make sure you’re getting a good deal.
Beware of high fees and wide margins on the exchange rate compared to digital and other options, especially when wiring money abroad. Your local bank will almost always be more expensive than other options, so shop around before wiring money.
Let’s say you need to send R10,000 to friends or family. Here’s what you might face as far as fees and exchange rates as of Jan 27, 2021.
|Digital money transfer service||Cash transfer|
|Exchange rate||1 ZAR = 0.063 USD||1 ZAR = 0.065 USD|
|Transfer speed||1-2 day||Minutes|
|Verdict||Best value but slower||Faster but slightly more expensive|
Both are very similar when it comes to total US dollars delivered, but the cash delivery option is faster – as long as the pickup location is open. Sending different amounts for pickup may lead to varying exchange rates and fees, so compare multiple options before sending.
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Nigeria to meet your needs:
When it’s more important to get your money to Nigeria quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. South Africa’s exchange rate often fluctuates when compared to the US dollar, so expect exchange rates today to be different from those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.
No. Venmo, Cash App, Zelle and similar services are all restricted mostly to the US. Cash App and Venmo do not work between South Africa and the Nigeria. You’ll need to use a dedicated money transfer service, a bank transfer, a PayPal transfer or something similar to send money to Nigeria from South Africa. Use our comparison table to see what your transfer to Nigeria could cost.
To send money to Nigeria from SA, you’ll need a government-issued ID and other documents. The documents needed to pick up money in Nigeria may be different by company.
To send money from SA to Nigeria, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
Nigerian money transfer scams have been plaguing the money transfer world for many decades, and may be referred to as 419 scams, Nigerian Prince scams or overseas funds transfer scams. Typical signs of this scam include:
If you suspect someone may be contacting you through one of these scams, contact the fraud hotline if you are in the US to alert them of this fraud attempt.
Sending your hard-earned money to Nigeria shouldn’t cost a fortune. Compare transfer companies that specialize in foreign exchanges for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.
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