Nigerians in the diaspora send approximately $20.93 billion annually back home, making Nigeria one of Africa’s top remittance destinations.
But with traditional banks charging 4–6% in hidden fees and poor exchange rates, finding cheaper, faster alternatives is key.
In this 2025 guide, we break down the top low-cost money transfer services from the USA to Nigeria — including fees, speed, and reliability — so you can keep more of your hard-earned dollars.
Most U.S. banks charge 4–6% in total transfer costs through a mix of high service fees and poor exchange rates — a markup of 3–6% above the mid-market rate.
That means for a $1,000 transfer, you could lose $30–$60 compared to using a specialized transfer provider.
Better option: Compare live USD→NGN rates on nairaCompare’s Money Transfer Tool before every transfer.
Sendwave remains the cheapest money transfer app to Nigeria in 2025, charging $0 transfer fees and offering one of the most competitive USD→NGN rates.
Best for: Flexibility, reliability, and frequent transfers.
Pro Tip: Wise also ranks high for dollar accounts in Nigeria. Compare Wise and similar providers using nairaCompare’s Domiciliary Account Comparison
TransferGo currently offers zero fees to Nigeria, with transfers reaching recipients in less than half an hour—usually just 2 or 3 minutes.
Western Union remains the most reliable cash pickup provider, ranking as the 2nd cheapest for 19% of transfers.
Key Features:
Extensive cash pickup points in Nigeria
Multiple payout methods
24/7 service availability
Ideal for: Recipients without bank accounts.
| Provider | Transfer Fee |
Exchange Rate Markup |
Best For | Speed |
|---|---|---|---|---|
| Sendwave | $0 | -0.04% | Small regular transfers | 1–2 days |
| Remitly | $1.49–$3.99 | 0.5–3% | Overall value | Minutes–3 days |
| Wise | $8.23 + 0.51% |
0% (mid-market) |
Transparency | Minutes–1 day |
| TransferGo | $0 | Competitive | Speed | 2–3 minutes |
| Western Union | Varies | Varies | Cash pickup | Minutes–hours |
Rates are current as of October 2025 and may vary based on transfer amount and payout method
| Need | Recommended Provider |
|---|---|
| Zero fees on small transfers | Sendwave |
| Flexible delivery & reliability | Remitly |
| Transparent pricing | Wise |
| Instant transfers | TransferGo |
| Cash pickup availability | Western Union |
Compare Before Every Transfer: Rates fluctuate daily. Use nairaCompare's money transfer comparison tool to find the best rate for your specific transfer amount.
Choose Bank Transfers Over Cards: Bank transfers are the overall cheapest deposit option based on analysis of money transfer companies servicing Nigeria. Debit and credit cards typically incur higher fees.
Send Larger Amounts Less Frequently: Minimize fixed fees by consolidating transfers when possible.
Avoid Weekend Transfers: Exchange rates may be less competitive during weekends.
Read more here: How to avoid overpaying when converting dollars to naira for money transfers.
Q: What’s the cheapest way to send money to Nigeria?
Sendwave offers $0 fees and a -0.04% exchange rate markup, making it the cheapest option for most users.
Q: How long do transfers take?
TransferGo and Wise complete most transfers in under 3 minutes, while Sendwave and Remitly may take up to 1–3 days.
Q: Are these services safe?
Yes. All listed providers are regulated by FinCEN (USA) and the Central Bank of Nigeria (CBN), using encryption and authentication for security.
Q: Can I send money for cash pickup?
Yes — Western Union has the widest agent network for cash pickups in Nigeria.
Sending money from the USA to Nigeria doesn't have to drain your wallet. By choosing specialized providers like Sendwave, Remitly, or Wise instead of traditional banks, you can save 50-75% on transfer costs.
Always compare rates using nairaCompare's comparison tool to get the best USD→NGN rates in real time to ensure you're getting the best deal available.
Start saving today — compare, send, and enjoy more value per dollar.