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Send money to Nigeria

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

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Small transfers

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Large transfers

Looking for a way to send money to family, friends or a business in Nigeria (or even to your own bank account overseas)? According to MoneySmart, you should avoid Australian banks and go with a money transfer specialist to get better NGN exchange rates and lower fees on international transfers.

Based on the providers we've compared, Revolut is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Xe Money Transfers can get money to your recipient in Nigeria within minutes.

Best ways to send money to Nigeria from Australia

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 Australian 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. AU 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.
  • Prepaid phone credit. Specifically used to top up a recipient's prepaid mobile phone plan, prepaid phone credit is usually added instantly or within a few minutes.
  • 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

1 - 14 of 14
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Xe Large Transfers
24 hours
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Send Payments
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Revolut
Within minutes
$0
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
Instarem
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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.
Send Payments
Send Payments
24 hours
$0
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Qantas Business Money
Within minutes
$0
Limited time offer: Earn up to 125,000 bonus Qantas Points as a first-time converter. Ends 30 April 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Airwallex
Within minutes
$0
Streamline global payments in 60+ currencies. Send & receive securely in 150+ countries, with fast settlements & competitive rates. Simplify book-keeping & manage everything in one place.
Send business
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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Cheapest way to send money to Nigeria

As reported by the ACCC, bank transfers are typically the cheapest way to get your money to Nigeria. Revolut and Xe Money Transfers have some of the lowest bank transfer fees of the brands we've compared.

Remember, it's more important to look at the overall cost of your transfer to Nigeria and this has a couple of elements:
  • Transfer fees. While still cheaper than your Australian bank, 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 AUD/NGN exchange rate.

Certain providers may give the mid-market rate but add fees on top and others will have 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

Actual transfer times from Australia to Nigeria can depend on several factors including transfer amount, payment method and currency.

Here are some of the fastest average transfer speeds to Nigeria:
  • Revolut — within minutes
  • Xe Money Transfers — within minutes
  • Rocket Remit — within minutes

Safest way to send money to Nigeria

The safest way to get your money to Nigeria is using a provider registered with Australia's industry regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC). 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 Australia and Nigeria.

A great way to dive deeper is by reading our 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 Xe Large Transfers or Send Payments to secure a better NGN exchange rate and benefit from its expertise handling larger transactions.

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 the Australian Taxation Office's latest advice.
  • Foreign exchange 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 offer advice and help facilitate transfers.
  • Phone service. If you want to talk your transfer through with someone, providers such as Xe Large Transfers and Send Payments can provide support over the phone.

How to send money to Nigeria from Australia

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 transfers money to Nigeria

Muhammad is working in Australia 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 Australia.

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 AUD = 727.45 NGN 1 AUD = 737.08 NGN
Transfer fee $10 $2.50
Transfer method Bank account deposit Bank account deposit
Processing time 2 - 5 working days Next day
Amount received 1,447,624.30 NGN 1,472,316.47 NGN

The money transfer company enables Muhammad to send an extra \u20a624,692.17, which is transferred straight to his parents' Zenith Bank account.

How to choose a money transfer company for Nigeria

When selecting a provider to transfer money to Nigeria, here are the main factors to consider:

  • Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. However, not every money transfer provider offers the mid-market rate so compare the NGN you're offered to the mid-market rate to calculate the margin.
  • Transfer fees. Are you being charged a flat fee or a percentage of the transfer amount? A provider offering to transfer your money to Nigeria for a flat or low fee might work out better if you're sending a large amount.
  • Transfer type. Does your recipient have a Nigerian bank account or is cash pickup 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 WorldRemit offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value.
  • Transfer limits. Find out how much you can send with each service. For example, Rocket Remit has a transfer limit of $1,000 while Revolut allows unlimited transfers.
  • Discounts. Providers may offer you a free transfer simply for signing up. Others may give a discount for transferring more than a specific amount of nairas.

Frequently asked questions

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10 Responses

    Default Gravatar
    kimSeptember 10, 2018

    Hi, how do I send money from Nigeria to Australia

      AvatarFinder
      JohnSeptember 11, 2018Finder

      Hi Kim,

      Thank you for leaving a question.

      On the comparison table shown on this page, the companies indicated can also send money from Nigeria to Australian and vice versa. All you need is to contact an agent location available in Nigeria for you to start the process of transferring funds to Australia. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    JULIEMarch 5, 2018

    Can I send money to Nigeria from Australia to an unrelated person and does the money have to go into a bank account. Do I need to provide written proof that the person I am sending money to is related to me.

      AvatarFinder
      DeeMarch 5, 2018Finder

      Hi Julie,

      Thanks for your question.

      You may send money to Nigeria even to someone not related to you. Most money transfer providers will not require you to show proof of relationship. Your recipient may receive the money through a bank account or agent locations.

      I hope this helps.

      Cheers,
      Anndy

    Default Gravatar
    LindaDecember 14, 2016

    how long does it take to receive bank to bank transfer from nigeria & does the money get held up before it reaches my bank account

      AvatarFinder
      MayDecember 14, 2016Finder

      Hi Linda,

      Thanks for your question.

      The processing times usually will depend on the bank of the sender. You’d be best if you could ask your sender to check with their bank as to how long will you have to wait before you receive the funds.

      May

    Default Gravatar
    georgeAugust 20, 2015

    Hi, I’m going to Lagos, Ikea, Nigeria. Will I be able to withdraw funds from a Commonwealth key card?

      Default Gravatar
      EnglishSeptember 10, 2015

      I want to send money to Nigeria but it’s already in pounds and I’m in Chicago. How do I send it without having to change it?

      AvatarFinder
      ShirleySeptember 14, 2015Finder

      Hi English Pounds,

      Thanks for your question.

      Unfortunately due to the mechanics of an online international money transfers, the funds are required to be converted from the domestic currency to the foreign currency in the process.

      We don’t know of any process where you could send it without having to convert it.

      Sorry that we couldn’t be much of an assistance.

      Default Gravatar
      BelindaAugust 20, 2015

      Hi George,

      Thanks for your inquiry.

      Depending on the Commonwealth Bank product that you are referring to, it may be possible for you to withdraw funds when you are in Nigeria.

      You can read our Commonwealth Bank travel money guide on this page to find out more about using your existing card overseas.

      Thanks,
      Belinda

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