How to Send Money from US to Nigeria: Cheapest Options Compared

Sending money from the United States to Nigeria has never been easier, but choosing the wrong provider can cost you hundreds of dollars in hidden fees and poor exchange rates.

With over 400,000 Nigerians in the US diaspora sending approximately $25 billion annually in remittances, finding the cheapest option isn't just about saving money—it's about maximizing value for your loved ones back home. 

This comprehensive guide compares the most affordable money transfer services available in 2025, helping you make informed decisions backed by real data. 

Why Traditional Banks Are Expensive 

Traditional US banks typically charge 4-6% in total costs through poor exchange rates and high fees. For a $1,000 transfer, this translates to $40-60 in unnecessary costs compared to specialized money transfer services that offer competitive mid-market rates. 

Banks profit by applying a 3-6% markup above the mid-market exchange rate, in addition to transfer fees ranging from $25-50 per transaction. This makes them the most expensive option for regular remittances to Nigeria. 

Top 5 Cheapest Options to Send Money from the US to Nigeria 

These are the most affordable and reliable services for sending dollars to Nigeria in 2025 — tested and compared by nairaCompare.

1. Wise (Formerly TransferWise)

Wise is the most transparent option, offering mid-market rates with no markup.

Fee: From $5.75 (≈0.43%)

Speed: 64% of transfers arrive within 20 seconds

Delivery: Direct bank deposits

Best for: Large transfers, transparency, same-day delivery

Compare Wise’s live rate now on nairaCompare
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2. Remitly

Remitly offers free first transfers and flexible delivery speeds.

• Fee: $0 for first transfer; up to $3.99 thereafter

• Rate markup: 0.5–3%

• Delivery: Bank deposits, cash pickup, and domiciliary accounts

• Best for: First-time senders or urgent transfers

Use Remitly for quick one-off transfers, then compare others for regular remittances.

 3. Sendwave

Sendwave specializes in African transfers with zero fees and competitive rates for cash pickup at Access, Zenith, and Fidelity Bank.  Perfect for quick, small transfers under $3,000.

• Fee: $0 (built into rate)

• Rate markup: 1–2%

• Delivery: Cash pickup at Access, Zenith, Fidelity

• Best for: Regular, smaller transfers

Transfers arrive in minutes — ideal for emergencies.

4. BOSS Revolution

BOSS Revolution offers $0 fee on the first 3 transactions, with subsequent fees as low as $0 for debit card payments. A US-based app with low-cost, fast transfers and strong promos.

• Fee: First 3 transfers free; $0–$4.99 after

• Speed: Minutes

• Best for: New users maximizing promotional offers

Pro tip: Link your debit card for instant, fee-free transfers.

5. WorldRemit

WorldRemit provides fee-free transfers with promotional codes and extensive pickup networks, with transfers completed in two to three working days. 

Key Features: 

• Regular promotional codes

• Multiple delivery options 

• Wide network of Nigerian banks 

• Mobile money transfers supported 

• Fee: $0–$3.99 (often free with promo codes)

• Speed: 1–3 days

• Best for: Users who want both cash pickup and mobile money options

Cost Comparison Table (2025)

 Save up to $70 on every $1,000 transfer by comparing rates on nairaCompare

How to Choose the Cheapest Option 

Use nairaCompare's money transfer comparison tool before every transfer. Exchange rates fluctuate daily, and promotional offers change frequently. 

Key factors to consider:

• Transfer Amount: Larger transfers benefit from percentage-based fee structures 
• Frequency: Regular senders should avoid relying on first-time promotions 
• Speed: Express options cost more than economy transfers 
• Payment Method: Bank transfers are cheapest; credit cards incur extra fees 
• Delivery Method: Bank deposits typically cost less than cash pickup 
  
  

Money-Saving Tips for US to Nigeria Transfers

1. Time Your Transfers Strategically: The USD to NGN exchange rate fluctuates significantly, with weekly variations between 1,430-1,501 NGN per dollar. Monitor rates using nairaCompare's exchange rate tracker. 

2. Maximize Promotional Offers: Take advantage of free first transfers, referral bonuses, and loyalty rewards. Many providers offer zero-fee periods for new users. 

3. Choose Optimal Payment Methods: Bank transfers (ACH) offer the lowest total costs, taking 1-3 business days. Debit cards process instantly with small fees ($5 or less), while credit cards are faster but more expensive ($5-15). 

FAQs for Money-Saving Tips 

Q: What's the absolute cheapest way to send money to Nigeria?

For first-time senders, Remitly's promotional rate offers the best value. For regular transfers, Wise typically provides the lowest total cost when combining fees and exchange rates. 

Q: How long do transfers take?

Express services deliver within minutes, while economy options take 2-3 business days. Bank transfers are the slowest but cheapest. 

Q: Are there transfer limits?

Most providers allow $2,999-$50,000 daily, depending on verification level. Enhanced documentation enables larger amounts. 

Q: Can I send US dollars directly?

USD remittances to domiciliary accounts in Nigeria are restricted by the Central Bank of Nigeria. Most transfers must be received in Naira. 

Final Thoughts: Compare Before You Send

The cheapest option to send money from the US to Nigeria depends on your specific needs. First-time senders should leverage Remitly's promotional rates, while regular remitters benefit from Wise's transparent pricing. For urgent transfers under $3,000, Sendwave offers excellent value with zero fees. 

Always compare current rates on nairaCompare before each transfer to ensure you're getting the best deal available. 

For more money-saving strategies, explore our guide on money transfer to Nigeria: the best and cheapest ways in 2025.