We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Digital money transfer providers can beat the rates offered by your bank. Transferring money online to Nigeria from Australia, instead of through your local bank, will save you on fees and give you access to stronger exchange rates and faster turnaround times.
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Sign up and send money with a digital money transfer specialist in four steps:
Online money transfer providers typically 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 Nigerian naira in person. PayPal, banks and other options are available but come with high fees, weak rates and longer turnaround times.
Companies like OFX and TorFX specialise 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.
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, look to digital services like WorldRemit or XE when possible.
Nigerian naira may be carried by your bank. Although your local bank can convert your Australian dollars into Nigerian naira, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let's say you need to send $1,000 to friends or family. Here's what you might face as in fees and exchange rates.
| Digital money transfer service | Bank transfer | |
|---|---|---|
| Fee | $14 | $25 |
| Exchange rate | 1 AUD = 149.72 NGN | 1 AUD = 145.14 NGN |
| Transfer speed | Within 2 days | 2-5 days |
| Amount received | NGN 149,720 | NGN 145,140 |
| Verdict |
|
|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with NGN 4,580 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Nigeria in as little as 15 minutes for just a slightly higher fee.
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. Nigeria's exchange rate often fluctuates when compared to the Australian dollar, so expect exchange rates today to be different than those you'll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Nigerian naira trades against the Australian dollar in our historical rate chart.
Today's exchange rate AUD to NGN
To send money to Nigeria from Australia, you'll need government-issued ID and other documents, while documents needed to pick up money in Nigeria may be different by company.
To send money from Australia 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, you can report the scam to the ACCC if you are in Australia to alert them of this fraud attempt.
Sending your hard-earned money to Nigeria shouldn't cost a fortune. Compare transfer companies that specialise in foreign 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.
Learn how to stake Chainlink (LINK) tokens and earn rewards through exchanges, lending services and node operation on the Chainlink network.
Find out how you can stake DAI, the decentralised stablecoin from MakerDao, and what the risks and potential rewards are.
Read our step-by-step guide on the MakerDAO platform. Find out how it works and how to grant loans using cryptocurrency holdings.
This Amex card puts money back in your pocket, earning 1% cashback per $1 on most purchases – plus a bonus 5% in the first 3 months.
SPONSORED: Even little adjustments can lead to big savings. Here are just a few things you can do to put more money back in your pocket.
While the average credit card interest rate remains high, you can switch and save with 0% interest on balance transfers for up to 36 months.
We’ve done the hard work to find the best wine clubs and subscription services for Australian wine drinkers.
SPONSORED: From lockdowns to currency fluctuations, make sure you consider all these key factors.
Get today’s best Australian to US dollar exchange rates before you send money overseas.
Beat the banks, find the best exchange rates and avoid fees when you send money abroad from Australia.
Hi, how do I send money from Nigeria to Australia
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
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.
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
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
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
Hi, I’m going to Lagos, Ikea, Nigeria. Will I be able to withdraw funds from a Commonwealth key card?
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?
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.
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