Many people in Nigeria often send and get money from other countries nowadays. It can be hard and costly to use banks for this. That’s why money transfer apps are useful. They make sending money to family or receiving payments from clients abroad simple and affordable.

If you have family living outside Nigeria and you need to send them money fast, you can use a money transfer app on your phone instead of going to the bank and paying high fees. It’s quick, easy, and usually cheaper than traditional money-sending methods.

In this article, we’ll talk about the best money transfer apps available in Nigeria. These apps help solve problems like high fees, long waits, and limited options when sending money internationally. They make it simpler for people in Nigeria to manage their money across borders.

What You’ll Learn

This article will provide helpful information about money transfer apps and how they can help you when sending and receiving money abroad in Nigeria. Here are the main points you’ll learn:

  • You’ll learn why using trusted money transfer apps for your international transactions is crucial.
  • We’ll guide you through identifying the top money transfer apps available in Nigeria. You’ll discover which apps offer the best combination of features, reliability, and affordability for your specific needs.
  • We’ll provide detailed information about each recommended money transfer app, including its features and benefits. 

What Are Money Transfer Apps?

Money transfer apps have changed how we send and receive money globally, providing many advantages over traditional methods like banks and wire transfers. Here’s why these apps are important for international transactions:

  • Convenience: Money transfer apps provide a convenient way to send and receive money from anywhere in the world. With just a few taps on your smartphone or computer, you can initiate a transfer without the need to visit a physical bank branch.
  • Speed: Unlike traditional banking methods that can take days or even weeks to process international transactions, money transfer apps offer near-instantaneous transfers. This speed is particularly important for urgent or time-sensitive transactions, such as sending money to family members in need.
  • Cost-Effectiveness: Money transfer apps often come with lower fees and better exchange rates compared to traditional banks. This means you can save money on transaction fees and get more value for your money when sending funds abroad.
  • Accessibility: Money transfer apps are accessible to anyone with a smartphone or computer and an internet connection. This accessibility makes them especially useful for individuals in remote or underserved areas who may not have access to traditional banking services.
  • Security: Leading money transfer apps prioritize the security of your financial information and transactions. They use advanced encryption and authentication measures to protect your data and ensure that your money reaches its intended recipient safely and securely.

Top 10 Money Transfer Apps

Here are our top ten best apps to receive and send money abroad in Nigeria;

Remitly

Remitly stands out as one of the leading money transfer apps globally, offering a reliable and efficient solution for sending and receiving money across borders. Here’s what makes Remitly a top choice for international transactions:

  • Affordability: Remitly offers competitive exchange rates and transparent fee structures, ensuring that you get the most value for your money when sending funds abroad. With low transfer fees and favorable exchange rates, Remitly helps you save on transaction costs.
  • Speed: Remitly prioritizes speed, providing fast and reliable money transfers to over 100 countries worldwide. With options for express and economy transfers, you can choose the delivery speed that best suits your needs, whether you’re sending money for emergencies or regular expenses.
  • Convenience: Sending money with Remitly is quick and easy, thanks to its user-friendly interface and intuitive platform. You can initiate transfers from the comfort of your home or on the go, using your smartphone or computer.
  • Wide Network: Remitly boasts a vast network of payout locations and delivery methods, including bank deposits, cash pickups, and mobile money transfers. This extensive network ensures that your recipient can access funds conveniently, no matter where they are located.
  • Security: Remitly prioritizes the security of your financial information and transactions, employing advanced encryption and fraud detection measures to safeguard your funds. With Remitly, you can have peace of mind knowing that your money is in safe hands.

Wise

Wise is a trusted and widely used money transfer app that offers a transparent and cost-effective solution for sending and receiving money internationally. Here’s why Wise is considered one of the top money transfer apps:

  • Transparent Pricing: Wise prides itself on offering transparent and upfront pricing, with low and transparent fees. Unlike traditional banks, Wise uses the real exchange rate with no hidden markups, ensuring that you get more money to your recipient without any surprises.
  • Fair Exchange Rates: With Wise, you’ll always get a fair and competitive exchange rate for your international transfers. The platform uses the mid-market exchange rate, which is the same rate you see on Google or Reuters, ensuring that you’re not overcharged for currency conversion.
  • Fast Transfers: Wise offers fast and reliable money transfers, with many transactions processed within hours. Whether you’re sending money for personal reasons or business transactions, you can trust Wise to deliver your funds quickly and securely.
  • Global Reach: Wise has a vast network of supported currencies and countries, allowing you to send money to over 80 countries worldwide. Whether you’re sending money to family abroad, paying international suppliers, or freelancers, Wise offers a convenient and accessible solution.
  • Multi-Currency Account: With Wise, you can hold and manage money in multiple currencies with a single account. This feature is particularly useful for individuals and businesses who frequently transact in different currencies, as it eliminates the need for multiple accounts and reduces currency conversion costs.

Payoneer

Payoneer is a trusted and widely-used money transfer app that caters specifically to freelancers, online sellers, and businesses looking for efficient cross-border payment solutions. Here’s why Payoneer is among the top money transfer apps in Nigeria:

  • Specialized for Freelancers and Online Sellers: Payoneer is tailored to the needs of freelancers and online sellers, providing them with a seamless and efficient way to receive payments from international clients and platforms such as Upwork, Fiverr, and Amazon affiliate programs.
  • Fast and Secure Transactions: With Payoneer, users can receive funds quickly and securely, often within hours or days, depending on the payment method selected. This speed is particularly important for freelancers and businesses who rely on timely payments for their services or products.
  • Global Reach: Payoneer offers a global payment platform, allowing users to send and receive funds in over 200 countries and territories worldwide.
  • Flexible Withdrawal Options: Payoneer offers multiple withdrawal options, including bank transfers, prepaid Mastercard, and local currency withdrawals at supported ATMs. This flexibility allows users to access their funds in the most convenient way possible, depending on their location and preferences.
  • Currency Conversion: Payoneer supports multiple currencies, allowing users to hold and manage funds in different currencies within their Payoneer account. This feature is particularly useful for freelancers and businesses who work with clients or suppliers in various countries and need to manage payments in different currencies.
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WorldRemit

WorldRemit is a renowned money transfer company that specializes in providing fast, convenient, and reliable international money transfer services. WorldRemit has a vast network of countries and territories, allowing users to send money to over 150 countries worldwide. 

  • Competitive Exchange Rates: WorldRemit offers competitive exchange rates, ensuring that users get the most value for their money when sending funds abroad. By providing transparent exchange rates and low transfer fees, WorldRemit helps users save on transaction costs and maximize their remittance amounts.
  • User-Friendly Interface: WorldRemit offers a user-friendly interface that makes it easy for users to initiate and track their money transfers. Whether you’re using the WorldRemit website or mobile app, you can navigate through the platform effortlessly and complete transactions with just a few clicks.
  • Secure and Reliable: WorldRemit prioritizes the security and reliability of its money transfer services, employing the best encryption and authentication measures to safeguard users’ financial information and transactions. 

Pay4Me App

Pay4Me App is a cutting-edge cross-border payment application designed to cater to the needs of migrants and international students, offering smooth and rewarding money transfer experiences.

  • Tailored for Migrants and Students: Pay4Me App is specifically tailored to meet the unique needs of migrants and international students, providing them with a convenient and user-friendly platform for sending and receiving money across borders.
  • Innovative Features: Pay4Me App offers a range of innovative features, including Swap, USD/CAD/EUR wallet, and Rewards, which enhance the overall money transfer experience for users. These features allow users to manage their funds more efficiently and earn rewards for their transactions.
  • Low Fee Charges: Pay4Me App boasts low fee charges, making it an affordable option for users looking to send money abroad without breaking the bank. By offering competitive rates and transparent fee structures, Pay4Me App ensures that users get the most value for their money.

TransferWise

TransferWise is a leading online money transfer service known for its transparency, low fees, and competitive exchange rates. 

  • Low Fees: Wise offers some of the lowest fees in the industry for international money transfers. Whether you’re sending money to family overseas or paying for services abroad, Wise ensures that you save money on transaction costs.
  • Multi-Currency Account: With Wise, users can hold and manage money in multiple currencies using a single account. This feature is particularly beneficial for frequent travelers, expatriates, and businesses operating in global markets, as it eliminates the need for multiple bank accounts and reduces currency conversion fees.
  • Fast and Reliable: Wise processes transfers quickly, with many transactions completed within hours. Whether you’re sending money for personal reasons or business transactions, you can rely on Wise to deliver your funds promptly and securely.

PayPal

PayPal is a globally recognized online payment platform that has become synonymous with digital transactions.

  • Established Reputation: PayPal has a long-standing reputation as a trusted and secure online payment platform. Founded in 1998, PayPal has become a household name and is widely accepted by merchants and individuals worldwide.
  • Global Accessibility: PayPal is available in over 200 countries and supports multiple currencies, making it a versatile platform for international transactions. Whether you’re sending money to another country or receiving payments from overseas, PayPal provides global accessibility and convenience.
  • Security Measures: PayPal prioritizes the security of its users’ financial information and transactions. With features such as buyer and seller protection, two-factor authentication, and encryption technology, PayPal ensures that your money and personal data are safe and secure.

Xoom

Xoom, a PayPal service, is a leading digital money transfer platform that specializes in fast and secure international remittances. Xoom provides extensive coverage, allowing users to send money to over 130 countries worldwide. 

  • Convenient Delivery Options: Xoom offers multiple delivery options, including bank deposits, cash pickups, and mobile wallet transfers. This flexibility allows recipients to access their funds in the most convenient way possible, depending on their location and preferences.
  • Competitive Exchange Rates: Xoom offers competitive exchange rates, ensuring that users get the most value for their money when sending funds abroad.
  • User-Friendly Interface: Xoom features a user-friendly interface that makes it easy for users to initiate and track their money transfers. 

Skrill

Skrill supports multiple currencies, allowing users to hold and manage funds in different currencies within their Skrill wallet. This feature is particularly useful for individuals and businesses that conduct transactions in various currencies and want to avoid currency conversion fees.

  • Variety of Transfer Options: Skrill offers a variety of transfer options, including bank transfers, mobile wallet transfers, and prepaid card withdrawals.
  • Fast and Secure Transactions: Skrill processes transfers quickly, with many transactions completed within hours. 
  • Integration with Other Platforms: Skrill integrates seamlessly with various online platforms and services, allowing users to make payments and receive funds across a wide range of websites and applications. 

Western Union

Western Union is a longstanding and globally recognized name in the money transfer industry, offering different services for sending and receiving funds internationally. Western Union boasts an extensive network of over 550,000 agent locations in more than 200 countries and territories worldwide. This widespread presence makes it convenient for users to send and receive money, with many locations offering cash pickup services.

  • Speedy Transfers: Western Union provides fast and reliable money transfer services, with many transactions completed within minutes.
  • Global Currency Support: Western Union supports multiple currencies, allowing users to send and receive funds in their preferred currency. 
  • Convenient Mobile App: Western Union offers a user-friendly mobile app that allows users to initiate and track money transfers on the go. 

Frequently Asked Questions (FAQs)

Here are some frequently asked questions about money transfer apps and their answers: 

How Do Money Transfer Apps Work?

Money transfer apps work by allowing users to send and receive funds electronically through a digital platform. Users typically create an account, link their bank accounts or cards, and then initiate a transfer by entering the recipient’s details and the amount to be sent. 

Are Money Transfer Apps Safe?

Yes, reputable money transfer apps prioritize the security of users’ financial information and transactions. They employ advanced encryption technology, multi-factor authentication, and other security measures to safeguard user data and prevent unauthorized access. 

What Are The Fees Associated With Using Money Transfer Apps?

The fees associated with using money transfer apps vary depending on the service provider, the amount being transferred, the currency exchange rates, and the chosen delivery option. Some apps charge a flat fee per transaction, while others may apply a percentage-based fee. 

Conclusion

Sending money internationally can be a bit tricky, but using the right apps can make it much easier. In this article, we’ve talked about why it’s important to use trusted money transfer apps and what benefits each recommended app offers for people in Nigeria.

It’s important to pick the right app that works best for you. Apps like Remitly, WorldRemit, Wise, and others we’ve mentioned are safe choices. They make sure your money gets where it needs to go quickly and without costing too much.