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Best options to send money from UK to Nigeria

Country from
Country to
You send
To
  • 200 GBP =
    270 USD
    In minutes
    Preferential fee and/or exchange rate only on your first transfer
    Best deal
    Monito Score
    9.0
    Go to Remitly
    You pay
    200 GBP
    Payment options
    Preferential fee and/or exchange rate only on your first transfer
    Offer valid for Remitly new customers only.
    • Credit card In minutes
      0 GBP
    • Debit card In minutes
      0 GBP
    • Direct bank payment In minutes
      0 GBP
    • Bank transfer Same day
      0 GBP
    Exchange rate
    Preferential fee and/or exchange rate only on your first transfer
    Offer valid for Remitly new customers only.
    Remitly's exchange rate (1 GBP = 1.3500 USD) is 2.01% better than the mid-market exchange rate, subtracting -4.02 GBP from the total cost of this transfer.
    5.05 GBP -4.02 GBP
    270 USD
    arrives in Nigeria
  • 200 GBP =
    263 USD
    Same day
    7 USD less than with Remitly
    Monito Score
    8.1
    Go to Small World
    You pay
    200 GBP
    Payment options
    • Debit card Same day
      0 GBP
    • Bank transfer Same day
      0 GBP
    • Credit card Same day
      0 GBP
    Exchange rate
    Small World's exchange rate (1 GBP = 1.3150 USD) is 0.64% worse than the mid-market exchange rate, adding 1.27 GBP to the total cost of this transfer.
    1.27 GBP
    263 USD
    arrives in Nigeria
  • 200 GBP =
    261.13 USD
    In minutes
    Preferential transfer fee and exchange rate only on your first transfer
    8.87 USD less than with Remitly
    Monito Score
    7.5
    Go to Western Union
    You pay
    200 GBP
    Payment options
    Preferential transfer fee and exchange rate only on your first transfer
    Offer valid for Western Union new customers only.
    • Bank transfer In minutes
      2.90 GBP 0 GBP
    • Credit card In minutes
      4.90 GBP 0 GBP
    Exchange rate
    Preferential transfer fee and exchange rate only on your first transfer
    Offer valid for Western Union new customers only.
    Western Union's exchange rate (1 GBP = 1.3056 USD) is 1.34% worse than the mid-market exchange rate, adding 2.69 GBP to the total cost of this transfer.
    2.65 GBP 2.69 GBP
    261.13 USD
    arrives in Nigeria

How to send money from UK to Nigeria at the best rate?

We currently compare 8 money transfer providers available for sending money to Nigeria from UK.

To transfer Pounds sterling to a bank account in US dollars in Nigeria, MoneyGram is the provider giving you the most US dollars for your money with zero transfer fees and a competitive GBP-USD conversion rate (current rate: 1 GBP = 1.323 USD).

For transferring money to Nigeria, it could be interesting to also check out two other competitive providers: Small World and Western Union.

Cash is the more convenient option for you? We currently list 3 money transfer companies able to send US dollars for cash pick-up in Nigeria: Remitly is at the moment the most competitive option with zero transfer fees and a competitive GBP-USD conversion rate (their current exchange rate is 1 GBP = 1.35 USD).

In comparison, the total cost would be 2.69 GBP if you chose to use Western Union for the very same transfer to a cash pick-up location.

This recommendation was updated a few minutes ago.

Last Updated 17 hours ago - Source XE.com
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Monito's Recommendations for Sending Money from UK to Nigeria

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from UK to Nigeria:

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We couldn't find any providers to recommend for a transfer from UK to Nigeria

Get more Naira for your Pounds by comparing when sending money to Nigeria

You're probably sending money to Nigeria to support your loved ones, and the money you send has a big impact on your family back home. That's why it's really important that you compare all your options before your next transaction, making sure you get the best GBP-NGN exchange rate to convert your pounds into naira.

Your bank is generally not an option to send money to Nigeria, and you can anyways find better exchange rate by using specialized money transfer operators, such as Azimo, WesternUnion or WorldRemit, which offer low-cost money transfer to Nigeria and are very convenient to use, whether you want to send money to a bank account in Lagos, as a mobile top-up anywhere, or to a cash pick-up agency in Kano, Kaduna or any other city.

The key things you must know before transferring money to Nigeria

Sending money to Nigeria with low transfer fees and a good exchange rate is not as easy as it might seem, or at least not as easy at it should be.

Recently, Nigeria went through a lot of economical changes, which had a big impact on it currency, the Naira, which has been depreciating against the dollar or the pound. This is a difficult situation for the economy in Nigeria, but it is rather a good news for people sending money to Nigeria, as they get more Naira for their Pounds than before. But it also created a lot of instability in the currencies market and the Central Bank of Nigeria is intervening on this market to prevent the Naira to fall even more. But because the demand for dollars and other foreign currencies is still very strong in Nigeria, a huge parallel market has emerge, where more than $10M are exchanged every day.

With this instability, it is now more important than ever to compare the fees and exchange rates of the different providers sending money to Nigeria, to make sure you get access the best exchange rate possible.

Exchanging your pounds for naira, the official and parallel exchange rate market

There are now two different market for trading the Naira, the official and the parallel market (or black market), meaning that there are also two different reference exchange rates, the official that is pegged to the USD by the Central Bank of Nigeria, and the parallel market rate.

Only a limited number of money transfer providers are allowed by the Central Bank of Nigeria to offer money transfers to Nigeria, among them some trade on the official market and others on the parallel market, meaning that the exchange rate they will offer to their clients will vary a lot.

What are the cheapest options to send money to Nigeria ?

To find the best option for your transfer, always refer to the comparison table above by comparing for the exact amount you want to send, in order to make sure to find the current best provider.

A a general rule of thumb, your best guess is to make your transfer via one of the online money transfer provider, like Azimo, Xendpay or WorldRemit. Western Union can also be a good option, as they also give you the possibility to send money from an agent location in the UK, but this generally means you'll pay more fees. Sending money directly by a wire transfer from your bank account in the UK to a bank account in Nigeria is generally a bad idea, as the exchange rate you'll get will be much worse than what other providers are offering.

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

  • You save money on your transfer by selecting the cheapest provider.

  • The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.

  • Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

Why Trust Monito?

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.

Learn more about Monito
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Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.

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