“Remittances are an important source of income for millions of families in developing countries. As such, a weakening of remittance flows can have a serious impact on the ability of families to get health care, education or proper nutrition,” said Rita Ramalho, Acting Director of the World Bank’s Global Indicators Group.
Remittances to major receiving countries estimated to have fallen last year, including Bangladesh (-11.1 percent), Nigeria (-10 percent), and Egypt (-9.5 percent). The exceptions among major remittance recipients were Mexico and the Philippines, which saw inflows increase by an estimated 8.8 percent and 4.9 percent, respectively, last year.
Before sending money to Nigeria, there are couple of things you have to keep in mind like what is the cheapest way ? Depending on your sending amount, what is the fastest money transfer service because time can mean everything. What are the transfer methods available ? Is your final option is the best option for sending money ?
For the all above questions, you can see and compare all popular money transfer services for sending money from USA to Nigeria on this page.
Transfer Type | Online |
Pay-In Methods | Credit Card Debit Card |
Pay-Out Methods | Bank Account, including- Access Bank, Bank PHB, Diamond Bank, Ecobank, Enterprise Bank, FCMB, Fidelity Bank, First Bank, GTB, Heritage Bank, Jaiz Bank, Keystone Bank, Mainstreet Bank, Skye Bank, Stanbic, Standard Chartered Bank, Sterling Bank, UBA, Union Bank, Unity Bank, WEMA Bank, Zenith Bank and many more! |
Airtime top-up | on Airtel, 9mobile (formerly Etisalat), GLO, MTN, and Visafone |
Fee | Lower fees than banks |
Minimum transfer amount | $1 |
Speed | Instant transfer |
Lower fees than banks
Convenient to send money to Nigeria online transaction makes it easier to send money
A good feature of WorldRemit is that they will send your recipient an SMS message when the transfer is initiated and give them the transaction number. You will receive a similar SMS once your beneficiary has collected the cash
Low maximum transfer amount
1. Select bank deposit or airtime top-up.
2. Enter the amount.
3. See low fees and exchange rate.
4. Enter your recipient's details.
5. Choose from a list of people you’ve sent to in the past, or add a new recipient.
6. Pay for the transfer.
7. Both you and the recipient will get notifications by SMS and email when the money is sent and received.
Transfer Type | Online |
Pay-In Methods | Bank Account Credit Card Debit Card |
Pay-Out Methods | Bank Deposit |
Fee | Lower fee than banks |
Minimum Transfer Amount | $2 |
Maximum Transfer Amount | $499 |
Speed | 3-5 days |
Money sent quickly
Secure - security team works 24/7, ensuring your money transfer to Nigeria stays in the right hands
Low maximum transfer limit
1. Select a recipient.
2. Select Bank deposit.
3. Enter your recipient’s full name and address.
Transfer Type | Online |
Pay-In Methods | Bank Account Credit Card Debit Card |
Pay-Out Methods | Bank |
Fee | $4.99 fee when sending with Bank Account and different fee apply for other two methods |
Minimum Transfer Amount | $10 |
Maximum Transfer Amount | $5000 |
Speed | Instant |
128-bit data security encryption
Work with major banks and leading retailers worldwide to help you transfer money directly to a bank account
Uses a VeriSign SSL Certificate to secure your information for transmission over the Internet
Money-back guarantee
24/7 customer service
Not worldwide. There are other money transfer providers that service larger international networks than Xoom.
To deposit money into your recipient’s Nigerian naira account, you’ll need to have their:
1. Bank name.
2. Account number.
3. Full name as it appears on their bank account or official ID.
4. Full address.
5. Phone number, including the area code.
Transfer Type | Online |
Pay-In Methods | Bank Account |
Pay-Out Methods | Bank Account |
Speed | 1 days |
Transparent fee structure
Higher exchange rates than local banks
High minimum transfers
Two step process
1. Create a personal account.
2. Complete your personal information.
3. Choose your receiver country and currency.
4. Provide your passport information.
5. Login with your username and password.
6. Answer two security questions
7. Complete all fields regarding your recipient's detail
Transfer Type | Online |
Pay-In Methods | Bank Account |
Pay-Out Methods | Bank Account Cash Pickup |
Fee | Fees vary according to sending amount |
Minimum Transfer Amount | $1 |
Maximum Transfer Amount | $5000 |
Speed | 3-5 days |
Best exchange rates
Multiple payment options
Safe and secure
Transfers for certain countries can be expensive
Transfer Type | Online At agent locations Mobile apps |
Pay-In Methods | Bank account Credit/debit card Pay With Cash |
Pay-Out Methods | Bank Cash |
Fee | Different fee while sending with different sending methods |
Speed | 3-5 days |
More than 1500 agent locations in Nigeria
Convenient for receiver to pick up money
4-star rated mobile apps
It makes easy to send money
Reliable service and experience
Low maximum transfer amount
1. Visit a Western union agent location.
2. Complete form.
3. Present ID and Payment to the agent clerk.
4. Collect receipt.
5. Receiver picks up money.