The internet coupled with smartphones has made almost everything hassle-free and at everyone’s fingertips. Sending or transferring money from one country to another has also become easier.
10 years ago, the only way to send money to Nigeria would have been through credit unions like Western Union. But this method had a bunch of issues, like huge fees and the back and forth of going to a bank.
Now with the fintech revolution and cryptocurrency adoption, sending money from one country to another has never been easier. But in Nigeria that isn’t exactly the case.
Sending money to Nigeria is currently hard because of the strict money transfer regulations currently in place by the CBN based on non-compliance with anti-money laundering rules.
This guide will show you how to send money to Nigeria and the different methods of transferring money from anywhere (cities) in the world to Nigeria. You’ll also learn how to keep your money transfer fees low, and how to make secure and fast money transfers to your recipient.
Here are the best apps for sending money to Nigeria.
List of Money Transfer Services & Apps to Send Money to Nigeria
- RIA Money Transfer
- Send by Flutterwave
WorldRemit is one of the best platforms people in different countries use to send money to Nigeria. With Worldremit you can send money to Nigeria as cash pickup or as a bank transfer and as an airtime popup. However, you can only send a bank transfer to Dollar accounts (domiciliary accounts) in Nigeria.
The banks in Nigeria you can send money to are: Fidelity, FCMB, FirstBank, Access Bank, Diamond Bank and Ecobank. While the mobile money wallets you can send money to in Nigeria with WorldRemit are Opay and PagaTech. Even though sending to mobile wallets are not possible right now because of the new CBN directive.
The maximum amount of money you can send to Nigeria with WorldRemit is around ₦7,000,000 per transfer and per day for bank transfers. However, the limits depend on the country you’re sending from and the payment method you intend to use.
2. RIA Money Transfer
RIA Money Transfer is one of the biggest money transfer services in the world. It is available in 314,000 locations around 144 countries worldwide. Other than its money transfer service, RIA Money Transfer also offers bill payments, debit card services, money orders and tracking.
RIA money transfer has partnered with Nigerian banks like Diamond Bank, First Bank, Skye Bank and Ecobank to make sending money from other countries to Nigeria easy.
RIA Money Transfer charges are clear and there are no hidden charges; If you want to send money with RIA, you’ll need to register for a RIA account by visiting RIA online.
After registering for a RIA account and it has been authorized, you can now send money to Nigeria. RIA offers three payment methods for sending money to Nigeria, they are by bank account, debit or credit card. You can also track your transaction till the money reaches the recipient.
The person collecting the money needs to prove their identity via a Nigerian national identity card, driver`s license or international passport. And also provide the pin given by the sender. And also state the amount of money the sender sent.
The RIA Money Transfer Limit for Nigeria is $500. The recipient will receive the money in dollars, not a naira equivalent.
Eversend is a multi-currency e-wallet that allows anyone to exchange, save and send money instantly at the best possible rates – within and beyond Africa.
You can send instant bank transfers to bank accounts in Nigeria with the Eversend app.
Eversend claims to save up to 70% in fees and foreign exchange. Eversend also allows you to create a virtual debit card and shop online, instantly. You can load the virtual debit card in any currency and shop in USD.
The app also allows you to hold and exchange multiple currencies including USD, EUR, NGN, KES, UGX, RWF and GBP.
You can send money to Nigeria with Eversend from any of these countries:
Africa: Ghana, Kenya, Nigeria, Rwanda, South Africa, Swaziland, Tanzania, Uganda.
Europe: Belgium, Netherlands, France, Germany, Switzerland, United Kingdom
Rest of the World: Australia, Canada, India, Kuwait, South Korea, Turkey, United Arab Emirates, United States.
4. Sendcash Africa
Sendcash is an easy way for people to send money to Nigerian bank accounts from anywhere in the world within minutes using Crypto via your bank card, Apple Pay, Cash App or a Crypto wallet.
It’s a great platform for sending money to family and friends who are in Nigeria or for those receiving money from clients abroad as a freelancer or creatives in Nigeria.
Sendcash is fast, affordable and requires no sign-up. Just input the account number you want to send money to and you’re good to go. Transfers on Sendcash can take between a few minutes to four hours based on liquidity and current rates.
Sendcash has 2 transfer methods. Via a bitcoin wallet and USDC with Wyre (Bank Card or Apple Pay). The transaction limit when using a bitcoin wallet is $2500 while the limit with Wyre is $1000.
If you’re using a bitcoin wallet for the transfer, Sendcash doesn’t charge a fee but the external crypto wallet you use might charge a fee.
Latest updates: Remitly only delivers USD bank deposit and cash pickup transfers to GT Bank and Polaris Bank only.
Remitly is another good international money transfer service you can use to send money to Nigeria.
Remitly is a great digital alternative to traditional money transfer services like Western Union and Money gram, as it makes sending money to Nigeria fast, secure and relatively inexpensive.
You can send money to Nigeria using the Remitly online money transfer service or the Remitly app on your smartphone or tablet.
Remitly can only transfer money to your recipient in Nigeria via cash pickup or bank deposit in US dollars (USD). To receive money in bank deposits from Remitly, the recipient will need to own a domiciliary account.
You can still send to Nigeria from the following countries using Remitly:
- United States of America
- The United Kingdom
Azimo is one of the fastest and cheapest ways to send money to Nigeria. With Azimo you can send money to Nigeria via cash pick up and to Dollar (USD) and Pounds(GBP) accounts in Nigeria via SWIFT.
Azimo claims to be 77% cheaper than other money transfer providers.
When sending money to Nigeria with Azimo, your recipient will receive an email with pick-up instructions when the transfer is ready for collection. An OTP SMS will be sent to the recipient number provided. Without it, your recipient will not be able to collect their cash at the pick-up location.
When sending money with Azimo the payment methods are Debit or credit card, Bank transfer via online banking (not available in countries like from Poland, Denmark, Norway, Sweden or Australia), and SOFORT (not available in countries like Austria, Belgium, Germany, Italy or Netherlands).
Note: You can only use your own card to pay. If you’re using online banking to pay for your transfer, always send money from an account in your name and remember to include the reference number. Azimo does not offer its services in the USA and Canada, but it is very good for money transfers from the UK and Europe to Nigeria.
TransferGo is an affordable international money transfer company that you can use to send money to Nigeria. The company currently serves 22 currencies across over 47 countries.
TransferGo is a licensed and authorized payment institution regulated by the FCA (Financial Conduct Authority) and supervised by HMRC (Her Majesty’s Revenue and Customs) in England, so they have the same security standards as any commercial bank does.
TransferGo delivers high-quality money transfers with speed, ease and excellent value.
Their pricing is based on very competitive currency rates, and how quickly you want the money you send to arrive at its destination, and that’s it.
Paystack is a payment company operating in Nigeria and other parts of Africa. While Paystack isn’t a money transfer service, it offers a way for anyone outside Nigeria to send money to people in Nigeria who have a Paystack account.
If the person you want to send money to in Nigeria has a Paystack account they can send you a payment link that they can create in their Paystack dashboard.
You’ll have to make the payment with a debit or credit card. Paystack is used by Nigerian businesses, creatives and freelancers to collect payments worldwide.
Paystack is a good alternative to money transfer services and their issues.
9. Send by Flutterwave
Send by Flutterwave, just like Paystack, is a money transfer service that allows people with Flutterwave accounts to receive funds from anywhere in the world.
Send allows barter accounts, mobile money wallets, bank accounts, and even cash pick-up locations.
With Send by Flutterwave, you can make instant money transfers from various countries around the world. You can transfer funds using different options to send money to local bank accounts and mobile money wallets as well.
You can find out more about this company in our Flutterwave review.
Wirepay is an app that lets you send money to Nigeria, Ghana and 18 other African countries using fiat from anywhere in the world. This app also lets you buy discounted airtime and create custom virtual cards to spend money online.
Wirepay lets you receive, hold, and exchange money in more than 20 currencies around the world for free. This money transfer app accepts Nigerian Naira, US Dollars, GHS, ZAR, KES, XAF, XOF.
Wirepay US Dollar deposit limit is one thousand dollars ($1,000) per transaction. While Wirepay Naira’s deposit limit is five hundred thousand Naira (₦500,000) per transaction.
However, using the Pay with Bank Transfer option is unlimited.
Fees for funding or depositing Wirepay Wallet with US Dollar & other currencies ATM Card is 5%. While Naira Cards are charged 1.4%. These card charges by Wirepay are capped and will not exceed ₦2,000.
For Bank Transfer: When using the Wema Bank transfer, you will be charged a 2% fee on the amount you deposit.
Changera is another interesting fast and secure app that lets you send money to Nigeria from anywhere in the world. The app also lets you pay bills ad create virtual dollar cards in Nigeria.
You can send money to your friends and family in Nigeria with this app from African countries, the US and Europe.
You can fund your Changera wallet through your card or through a bank transfer.
Grey was formerly Aboki. The Grey platform provides foreign bank accounts to Africans. You can send money to Nigeria with Grey as long as the person has a Grey account.
You can also convert your money between different currencies on the Grey app as well as send money online from Africa to the UK and other European countries with ease.
13. Afriex Money Transfer App
Afriex is a mobile app that allows users to send money to Nigeria. You can use Afriex to send and receive money from anywhere in the world.
When you sign up for Afriex, you get a free multi-currency for sending and receiving money to and from Africa instantly. Afriex has been used for transactions worth over $1 billion USD so far.
With the Afriex Money Transfer App you can send money to and from Nigeria, Ghana, Kenya, Canada, and USA.
Afriex transfer fees are 25% cheaper than Moneygram and WesternUnion.
See: Afriex App Review
Moneygram is one of the oldest and most reliable ways to send money to Nigeria. MoneyGram has over 350,000 agent locations around the world and partners with 400 banks around the world.
Moneygram is referred to as the second-largest global nion Money Transfer service so you can be sure that if you send money to Nigeria with MoneyGram, your money will definitely reach its intended destination.
We all know about WesternUnion. It’s still one of the best ways to send money to Nigeria. Regarded as the biggest money transfer service in the world, WesternUnion is still a great option for sending money if you don’t mind visiting a bank.
Send Money To Nigeria: Best Choice
Now that we’ve reviewed the different available providers for sending money to Nigeria, here’s a list of the best options based on the country you’re sending money from.
The options are:
Send Money to Nigeria From USA or Canada:
Worldremit is a great option for sending money to Nigeria as well as Eversend and SendCash.
Send Money to Nigeria from UK or Europe:
If you’re looking for how to send money to Nigeria from UK or Europe, then Azimo, Remitly and TransferGo are good options for sending money to Nigeria from the UK and most European countries.
Send Money from India to Nigeria
If you want to send money to Nigeria from India, your best bet is likely WesternUnion, you can also try Sendcash and WorldRemit.
Send Money to Nigeria from South Africa, Egypt, Algeria, Ghana and other African countries.
Sendcash, Eversend and WorldRemit are your best bets for sending money to Nigeria from other countries like South Africa, Algeria, Egypt, and Ghana.
What to consider when choosing an international money transfer app
It can be difficult to pick out of the available options when sending money to Nigeria but there are a few factors you can use to make a quick decision.
Factors like the speed of transfers, cost, convenience, location or customer support.
The Total Cost of a Transfer
Atimes people send money to Nigeria and their recipient receives a lesser amount. The cause is the cost of hidden fees. These fees are snuck into transfers mainly through the exchange rate but also depend on your payment option.
So make sure you read and understand the operations money transfer provider you intend to use or you find a money transfer platform that displays all their fees upfront. It will save you a lot of issues.
Consider Transfer Speed When You Send Money to Nigeria
The speed at which a recipient will receive money sent from another country can go a long way to determine which money transfer service you choose.
Some money transfer services take longer than others to deliver money to your recipient. In an emergency, the faster ones should be your go-to.
Not every money transfer service or apps are available everywhere. Most of them are limited to certain countries. So make sure that you find the ones that are suitable for the country or location you reside in.