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The Best 7 Apps to Send Money to a Nigerian Bank Account in 2023

Jun 27, 2023
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If you are using traditional bank wires to send money to Nigeria, you have probably found them to be expensive and slow. Remittances are also complicated because, as of July 2023, the Central Bank of Nigeria (CBN) allows international money transfers in both US dollars ($) or naira (NGN) into Nigeria.

Luckily for you, the international money transfer services that we list in this article are great solutions because they operate entirely online and the can send either US dollars or naira to Nigeria. For international transfers to Nigeria, Instarem, TransferGo, Remitly, and WorldRemit have consistently ranked as the best choices on Monito's comparison engine for the past 12 months.

In this article, we cover how these services and three other top providers offer low fees, competitive exchange rates, and fast transfer times, allowing you to send money to Nigeria with ease and confidence.

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Here are the best apps to send money to Nigeria:

Instarem: Instarem is one of the cheapest options to send money to Nigeria. It's also the best app if you need to send from the US ($) or Canada.

TransferGo: TransferGo is the second-best option for transfers to Nigerian bank accounts. It's ideal if you are sending from the UK (£) or the EU (€).

WorldRemit: WorldRemit is not always the cheapest, but it is the top provider for transfers to Nigeria from South Africa (a popular sending country).

1 — Instarem

Instarem is a top choice for sending money to Nigeria due to its excellent exchange rates and affordable fees. The platform is also user-friendly, making it easy to navigate and use. In addition, Instarem offers speedy transfers, with funds reaching the recipient within a day.

According to Monito's data from the past 12 months, Instarem was the best app overall for sending US dollars to Nigeria. It was also the most cost-effective option for 37.5% of all searches conducted using Monito's comparison engine.

More info: read our in-depth Instarem review.

Instarem is an ideal choice for those sending transfers from:

  • the USA (or US dollar transfers);
  • the UK;
  • Germany;
  • Canada;
  • Australia;
  • Italy.

2 — TransferGo

TransferGo is known for consistently offering cheap exchange rates on international money transfers, especially to and from European countries. Additionally, the platform offers a wide range of pay-in and pay-out options, making it easy to use.

According to Monito's data in the past 12 months, TransferGo was the 2nd best overall app to send money to Nigeria, being the cheapest app for 27.0% of all searches done on our comparison engine for transfers to Nigeria.

More info: read our in-depth TransferGo review.

TransferGo is ideal for transfers sent from:

  • the UK;
  • Germany;
  • Italy;
  • Sweden;
  • Poland.

3 — Remitly

Remitly is a consistent leader in the industry, offering some of the lowest exchange rates for international money transfers worldwide. With an excellent Monito score, Remitly is one of the most reliable and trusted options for customers seeking a secure, fast, and satisfying money transfer experience.

Based on Monito's data from the past 12 months, Remitly was the third-best overall app for sending money to Nigerian banks, as it was the cheapest option for 14.8% of all searches for transfers to Nigeria with our comparison engine.

More info: read our in-depth Remitly review.

Remitly ranks well for transfers sent from:

  • the US;
  • Canada;
  • the UK;
  • Germany;
  • Australia.

4 — WorldRemit

WorldRemit's international money transfer service provides extensive coverage, boasting a vast network of cash pickup locations, adding convenience for recipients. With a variety of options available for sending and receiving money, such as bank transfers, cash pickups, mobile money, and airtime top-ups, WorldRemit offers flexibility and convenience.

According to Monito's data in the past 12 months, WorldRemit was the 4th best overall app to send money to Nigeria. It was the cheapest app for 12.4% of all searches done for transfers to Nigeria with Monito's comparison engine. We recommend their service for cheap cash pick ups.

More info: read our in-depth WorldRemit review.

WorldRemit ranks number one for transfers sent from South Africa. Otherwise, it is also competitive for transfers from:

  • the USA;
  • the UK;
  • New Zealand;
  • Malaysia;
  • Bulgaria.

5 — Small World

Small World has an extensive network of cash pickup locations, making it a good option for users who want to send cash to Nigeria.

According to Monito's data in the past 12 months, Small World was the 5th best overall app to send money to the country. However, it was only the cheapest app for 3.6% of all searches done for transfers to Nigeria, which is why we recommend using our comparison engine before choosing their services. Despite this, it is still a good choice to consider if your recipient prefers to receive cash pickups.

More info: read our in-depth Small World review.

7 — MoneyGram

MoneyGram is a dependable option for cash pick-up, but its pricing can be opaque and uncompetitive for bank transfers.

According to Monito's data in the past 12 months, MoneyGram was the 7th best app overall to send money to Nigeria, with the cheapest rate for only 1.8% of searches done for transfers to Nigeria. In general, we recommend running a search on our comparison engine before choosing MoneyGram.

More info: read our in-depth MoneyGram review.

MoneyGram is mostly available in English-speaking countries and can be a viable option for transfers from:

  • the US;
  • the UK;
  • Canada;
  • Australia.

Compare app fees and rates before sending money to Nigeria:

Send Money to a Nigerian Bank Account: Our Top App Picks for 2023

Unlike banks, the money transfer apps we covered in this guide charge low fixed fees and competitive exchange rate margins, ensuring that you get more value for your money. Additionally, we've reviewed these providers for transparency, service quality, fees, and customer satisfaction, so you can be confident in your choice.

Converting currency into US dollars and sending it to Nigeria bank accounts has never been easier thanks to these top-ranked money transfer apps:

  1. Instarem;
  2. TransferGo;
  3. Remitly;
  4. WorldRemit;
  5. Small World;
  6. MoneyGram.

Best App to Nigeria By Country

Below are the best apps to use in 2023 to send money to Nigeria, based on the country or currency that is sending the transfer. We've gathered data from April 2022 to April 2023 to give you the most accurate results we can:

Compare the best apps to send money to a Nigerian bank account:

Our Other Guides About Money Transfers and the Best Ways To Send Money to Nigerian Bank Accounts

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You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

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