What It Costs to Send Money to Nigeria from the US
In the 2024 Q3 World Bank Remittance Prices Worldwide quarterly survey, sending USD 200 from the United States to Nigeria carried a median total cost of 3.29% and an average total cost of 3.80% of the amount sent. Total cost in this context means the combined transfer fee and exchange-rate margin expressed as a percentage of the send amount, covering both what a provider charges directly and any spread built into the exchange rate applied to the transaction.
Across the 21 providers surveyed in that same 2024 Q3 period, the total cost ranged from a low of -0.32% to a high of 9.30%, illustrating a wide spread between options available in the corridor at that point in time. The cheapest surveyed provider in the 2024 Q3 data was MoneyGram; as this reflects a dated snapshot, the relative standings among providers may have changed since that survey was conducted.
Costs within this corridor can vary depending on the payment method used, the payout method selected by the recipient, and the amount transferred, so figures for one set of conditions do not necessarily apply to another. The World Bank survey is updated quarterly, and the per-provider table below presents the specific dated quotes captured in the 2024 Q3 survey rather than live or current pricing.
Surveyed providers (2024 Q3)
| Provider | Type | Pay-out | Speed (surveyed) | Total cost, $200 | Total cost, $500 |
|---|---|---|---|---|---|
| Walmart2World | Bank | Internet | Less than one hour | -0.32% | -0.32% |
| MoneyGram | MTO | Internet | Next day | -0.32% | -0.32% |
| Walmart2World | Bank | Agent | Less than one hour | 0.64% | -0.56% |
| Western Union | MTO | Internet | 3-5 days | 0.79% | 0.09% |
| WorldRemit | MTO | Internet | Less than one hour | 0.87% | 0.87% |
| WorldRemit | MTO | Internet | Less than one hour | 0.87% | 0.87% |
| Western Union | MTO | Internet | Less than one hour | 1.79% | 0.49% |
| Western Union | MTO | Agent | Less than one hour | 2.08% | 0.58% |
| Western Union | MTO | Internet | 3-5 days | 2.80% | 1.30% |
| MoneyGram | MTO | Internet | Less than one hour | 2.92% | 2.22% |
| Western Union | MTO | Agent | Less than one hour | 3.29% | 0.89% |
| MoneyGram | MTO | Agent | Next day | 3.68% | 1.28% |
| WorldRemit | MTO | Internet | Less than one hour | 4.32% | 4.32% |
| MoneyGram | MTO | Internet | Next day | 4.68% | 3.78% |
Total cost = transfer fee + exchange-rate margin, as a percent of the amount sent, at the two surveyed send amounts ($200 / $500). Surveyed prices, not live quotes.
Estimate your transfer cost →Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org (CC BY 4.0). Figures are from the 2024 Q3 survey — surveyed prices, not live quotes.