Send Money to Nigeria from United Kingdom at Best Exchange Rates

Highest remittance rate for converting pound to Euro Member Countries is 1 GBP = 1.11 EUR

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Best Way to Transfer Money to Nigeria from United Kingdom

Nigeria is Africa’s leading economy in which remittance also plays a big role because migrators who work outside send money to their family in Nigeria. There are many ways to send money to Nigeria as a lot of money transfer companies, banks and foreign exchange brokers provide these facilities. And as we talk about remittances to Nigeria, it has reached $22 billion in 2017 which is 5.06% of GDP. In this record, the United Kingdom also plays a major role as more than 2 Lakh Nigerians live there. People live in the UK, transfer money to their friends and family staying back in Nigeria and help their family as well as country to grow.

Therefore, on this page, we have compared the “Top money transfer services from the UK to Nigeria”.

Please find the list of companies below in a sorted order which are providing the best money transfer services with the highest exchange rates and low fee.

Country Guide - Nigeria
Currencies:
GBP-NGN GBP-USD GBP-EUR
Sort By:
BEST VALUE FASTEST
Pay-In
Pay-Out
You Pay (Includes Fee € 3) £ 502.6841
Receiving Amount
€ 558.85
Realized Exchange Rate
1.11
currencyfair GBP to EUR Exchange Rate
1.1177
Best Value

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Transfer Time : 1-2 Days
Promoted
Currencyfair is a one of the safest & leading money transfer service provider for sending money from United Kingdom to Nigeria for sending amount 500. Today’s Currencyfair exchange rate for sending money from GBP to EUR is 1.1177 with a € 3 fee. Based on the Exchange Rate IQ calculations it offers the Best Value for your money transfer. The realized exchange rate after considering the fees is 1.11. The pay in options available are Bank, also you can receive money using Bank, at multiple Currencyfair partner locations. The transfer time usually range between 1-2 Days. For more detailed review of Currencyfair click here
Pay-In
Pay-Out
You Pay (Includes Fee £ 2.49) £ 500
Receiving Amount
€ 558.7535
Realized Exchange Rate
1.11
transferwise GBP to EUR Exchange Rate
1.1231
Best Value

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Transfer Time : 3-5 Days
Transferwise is a one of the safest & leading money transfer service provider for sending money from United Kingdom to Nigeria for sending amount 500. Today’s Transferwise exchange rate for sending money from GBP to EUR is 1.1231 with a £ 2.49 fee. Based on the Exchange Rate IQ calculations it offers the Best Value for your money transfer. The realized exchange rate after considering the fees is 1.11. The pay in options available are Bank, also you can receive money using Bank, at multiple Transferwise partner locations. The transfer time usually range between 3-5 Days. For more detailed review of Transferwise click here
Pay-In
Pay-Out
You Pay (Includes Fee £ 12) £ 512
Receiving Amount
€ 556.75
Realized Exchange Rate
1.09
azimo GBP to EUR Exchange Rate
1.1135
1.8% vs Best Value

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Transfer Time : Same Day
Azimo is a one of the safest & leading money transfer service provider for sending money from United Kingdom to Nigeria for sending amount 500. Today’s Azimo exchange rate for sending money from GBP to EUR is 1.1135 with a £ 12 fee. Based on the Exchange Rate IQ calculations it offers 1.8% less than the best value for your money transfer. The realized exchange rate after considering the fees is 1.09. The pay in options available are Bank, also you can receive money using Bank, at multiple Azimo partner locations. The transfer time usually range between Same Day. For more detailed review of Azimo click here

More Available Options

You can check rates of some more providers that may support your country
Make money transfers and manage your account online 24 hours a day, 7 days a week from any device. XE Money has some best customer reviews we have ever seen, which shows that the users are satisfied with its services.
Western Union is an American financial services company which offer money remittance to more than 200 countries across the globe.
With Xendpay you get the best deal and make a big difference with every transfer
World First is a UK-based foreign exchange company. It offers currency exchange and international payments to private clients, corporate and e-Commerce clients in the UK and a number of other countries.
Travelex is a money remittance company which is specially known for providing effective services to travelers across the world. People can transfer money online, use its money card and get currency exchanged at its stores. 
Money2anywhere is a product of UAE Exchange LLC Ltd which has its presence in more than 30 countries with over 150 correspondent banking relationships.
There are more than 200 countries you can send to using MoneyGram. Fees vary depending on where you are sending, how much, and how you are paying
Post Office aspires to be at the very heart of customers choice by becoming the most trusted provider of essential services to every person in the land.
Hifx make moving money around the globe easy and great value.

Money Transfer Summary

By Exchangerate IQ
  • Currencyfair, Transferwise offering best value with the highest realized exchange rate today.
  • the fastest money transfer service to send money from United Kingdom to Nigeria.
  • Offers are available on Currencyfair, Azimo money transfer services.
  • Available pay in when sending money from United Kingdom to Nigeria Bank.
  • Available pay out when sending money from United Kingdom to Nigeria Bank.
  • 3 money transfer services are available to send money from United Kingdom to Nigeria.
  • The comparison result was last updated on Jun 16, 2019.
  • Money transfer guide for "Nigeria" leads you to get better understanding of compare remit.
  • Check Xemoneytransfer, Westernunion, Xendpay, Worldfirst, Travelex, Money2anywhere, Moneygram, Postoffice, Hifx also when sending money to Nigeria from United Kingdom.These money transfer services might support it.
  • For the latest comparison result of United Kingdom to Nigeria, Please visit ExchangeRate IQ regularly.

How to find the best money transfer to Nigeria from the UK

United Kingdom to Nigeria money transfer is not a very competitive transfer corridor and only a few companies and banks are offering their services in this corridor. So, you will need to find the companies with best rates as well as discount offers. But the major question arises that after seeing competitive exchange rates is which company you should pick to transfer funds from UK to Nigeria.

Many banks, MTOs and startups are offering these services to customers with multiple offers and benefits. Due to this competition, consumers now have a large number of choices and negotiating power. But again the question arises is which is the “best money transfer company” according to your needs and requirement of the recipient. So, here are a few base points which you should consider before transferring Great Britain Pound to Nigerian Naira:

  1. Speed: How soon you want your money to reach the recipient? If you want to transfer money faster, you can use cash pickup services of WorldRemit and online transfer of Azimo provides the instant transfers. While, if you have no emergency, then you can use services of XE Money Transfer, Western Union and WorldFirst, which will deliver money in 2-3 working days.
  2. Exchange Rate: The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, XE Money Transfer does not charge any fee and offer mid-market exchange rate while Azimo offers a bit lower price than live rate with a minimal fee. Besides this, other companies offer a bit lower rates comparing to live market rates and lock-in so that the same amount will be received by the recipient.
  3. Fees and Other Taxes: There are taxes levied on every transfer depending upon the policies of both the countries which will be deducted from the amount paid. The fee is charged by companies on different types of transfers. Before transferring, first, watch out that you will not end up paying more than you should.
  4. Transfer Convenience: If one can transfer in an easy way without any support of customer assistance, then the company is considered as highly convenient. You can make transfers online without physically visiting its office. In the era of digitalization, mobile apps are also necessary which can ease the transfers anytime anywhere. Azimo, WorldRemit, and XE Money Transfer etc. are offering their mobile apps.

Top Key factors to consider before transferring funds to Nigeria

There are multiple companies providing remittance services from the UK to Nigeria, but it is not necessary that it will provide you with the best available services. It is most essential for the sender to take charge and be aware of hidden and transfer fee along with the exchange rates provided by them as well as competitors. So, you should invest your time and explore the best keeping the following factors in mind:

Reliability: You must know that the remittance company whose services you are looking for is reliable and trustworthy. There are many fraud companies come up with their plans which are not licensed and offer minimum fee with the best exchange rates, but your money will not safe with them. The most reliable path of sending funds is through a bank, which imposes higher fees and lower exchange rates.

Plan the Transaction: If you are planning to transfer funds, you should not wait for making the last minute decision or wait for any emergency. When you feel the prices are at their best, you can transfer the funds with minimum transfer fees. This will cost you less and you can make the most from your money.

Customer Service: Having a helping hand at the time of transferring funds is beneficial if in case you face any difficulty. The reputable companies offer best customer support in the event of mishap like delay or non-arrival of funds.

What are the Best money transfer services from UK to Nigeria?

Cheapest Money Transfer Options to Nigeria:

Fastest Money Transfer options:

Best option for Cash Transfer to Nigeria:

UK Banks offering Remittance services in Nigeria

Best Online Money Transfer options to Nigeria

FAQ's

How long does an international money transfer to Nigeria take?

Most of the companies take three to five working days to transfer funds, but some services such as Azimo and WorldRemit can also transfer funds in a couple of hours. On the other hand, money order, cheque and demand draft can even take up to two weeks. If you transfer funds with TransferWise, your amount will be received with 3-4 working days to the recipient. So, it is suggested that user must always check transmission time with the transferring company before you send your money.
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Can I transfer money from UK to Nigeria through my bank?

Yes, many UK banks offer a wire transfer service, but it is usually more expensive than using the dedicated money transfer websites or remittance companies. Besides this, you can transfer funds through TransferWise from bank account to bank account.
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What are the multiple ways to transfer money from UK to Nigeria?

One can transfer and receive funds in Nigeria in multiple modes including bank transfer, cash pick-up, demand draft transfer, foreign currency cheque, wire transfer, mobile top-up, and online transfer.
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Why do money transfer companies offer different exchange rates for Nigeria?

Different companies have different business models. Some offer zero fees while taking an exchange rate margin, while others ask for an upfront fee. They deduct their costs & profits from the Mid-market exchange rates.
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Can I transfer money from UK to an account in another name to Nigeria?

Yes, most money transfer companies require you to add the details of the receiving party. If you are sending money to India online you will have to add the bank accounts of the receiving party and it must be your Nigerian bank account or someone else’ account from your family/friend. Many companies do not allow third-party transfers, so you mostly need your own account.
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Are money transfers regulated in United Kingdom?

Yes, every country has their set rule according to which they regulate the international money transfers, and the same is with United Kingdom. Here money transfer companies are regulated by Financial Conduct Authority (FCA) which is British independent organization and working to protect consumer affairs. It has the power to investigate make and pass regulations designed to protect consumers, as well as to implement best practices between financial firms and in the finance sector. It can also penalize if its regulations are violated.
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What are the Best money transfer services from UK to Nigeria?

To help you get the best deal, Exchange Rate IQ team reviewed a large number of services, their exchange rates, fee structure and payin/payout methods. We evaluated companies of parameter like Cheapest, Fastest & number of options.
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