How to transfer money internationally with low fees in Nigeria

Sending money abroad from Nigeria has become a growing necessity for freelancers, students studying overseas, business owners, and families supporting loved ones. Whether you’re paying for tuition, receiving freelance payments, or importing goods, international transfers are now part of everyday life.

Unfortunately, many Nigerians face major challenges such as high bank charges, poor exchange rates, transfer limits, and long processing times. These issues often make it difficult to send or receive funds conveniently and affordably.

In this guide, you’ll discover the most reliable, affordable, and secure ways to transfer money internationally from Nigeria. We’ll compare the best platforms, highlight their fees, and share practical tips to help you save more on every transaction while staying compliant with financial regulations.

Common Challenges Nigerians Face

When it comes to international money transfer from Nigeria, many people face several frustrating obstacles that make the process expensive and inconvenient.

One of the biggest issues is the bank transfer limits in Nigeria, especially on dollar or foreign currency cards. These restrictions make it hard for individuals to send large sums or make international payments seamlessly.

Another major challenge is the unfavorable exchange rates offered by traditional banks and some online platforms.

The difference between official and parallel market rates often means users lose a significant portion of their funds. Additionally, long transaction times—sometimes taking several days—can cause delays, especially for urgent transfers.

Lastly, Nigerians must also deal with strict CBN compliance regulations, which can limit access to certain international payment platforms or require additional verification steps before transfers are approved.

Best Platforms for Low-Fee International Transfers

Finding the best apps to send money internationally from Nigeria can save you both time and money. Many Nigerians are turning to digital transfer platforms that offer better exchange rates, faster delivery times, and transparent fees compared to traditional banks.

Below are some of the cheapest international money transfer services in Nigeria that you can rely on for secure and affordable cross-border payments.

These platforms stand out for their low transfer fees, speed, and favorable exchange rates, making them excellent alternatives to traditional bank transfers.

Whether you’re sending funds to family abroad, paying for services, or receiving international payments, these providers help you move money securely and cost-effectively.

Tips to Reduce Transfer Fees

If you want to save money on international transfers, it’s important to understand how transfer platforms and banks calculate their charges. Many Nigerians lose extra cash due to hidden fees or poor exchange rates.

Here are a few smart strategies to help you reduce transfer fees in Nigeria and keep more of your money when sending funds abroad.

1. Use mid-market exchange rates
   Always choose platforms that use real mid-market rates — the same rate you see on Google — instead of inflated bank rates. This helps you avoid losing value during conversion.

2. Send larger amounts less frequently
   Most providers charge a flat transfer fee per transaction. By sending larger sums occasionally rather than multiple small transfers, you’ll cut down on cumulative charges.

3. Compare providers before transferring
   Don’t stick to one platform. Use comparison tools or check multiple apps like Wise, Grey, or Changera to find the lowest fees and best rates before every transaction.

4. Avoid double currency conversions
   Try to send and receive in the same currency whenever possible. Converting Naira to USD and then USD to GBP, for example, can cause unnecessary losses.

By applying these strategies, you’ll save money on international transfers and enjoy faster, cheaper, and more transparent transactions from Nigeria.

Step-by-Step Guide: How to Transfer Money Internationally

If you’re wondering how to send money abroad from Nigeria step by step, the process is simpler than you might think — especially with modern fintech platforms like Wise, Grey, or Changera. Follow these easy steps to ensure your transfer is fast, secure, and cost-effective.

1. Create an Account on a Trusted Platform

Start by signing up on a reliable service such as Wise, Payoneer, or Grey.co. Provide your email address and verify your phone number to activate your account.

2. Verify Your Identity

Most international transfer platforms require you to verify your identity for security and compliance with CBN regulations. Upload a valid ID (such as your international passport, driver’s license, or NIN slip) to complete verification.

3. Link Your Nigerian Bank Account or Debit Card

Connect your Naira or dollar bank account, or link a debit card, to fund your transfer. Some platforms also support virtual USD accounts for easier deposits.

4. Choose the Recipient’s Country and Currency

Select the destination country, choose the target currency (e.g., USD, GBP, EUR), and enter the amount you want to send. Many platforms will show you the exchange rate and transfer fee upfront.

5. Confirm and Send

Review all details carefully — especially the recipient’s information and the total fee — then confirm the transaction. Transfers usually take anywhere from a few minutes to a couple of days, depending on the method used.

By following these simple steps, you can send money internationally from Nigeria without stress, avoid hidden charges, and enjoy better rates than traditional bank transfers.

Safety & Legal Considerations

When making an international money transfer from Nigeria, safety and compliance should always come first. Many people fall victim to scams or lose funds by using unverified exchangers and unlicensed platforms.

To ensure a safe international transfer in Nigeria, always use services that are licensed and regulated by reputable authorities.

The Central Bank of Nigeria (CBN) closely monitors cross-border transactions to prevent money laundering and fraud. It’s important to choose CBN-approved transfer methods such as Wise, Payoneer, Grey, or Changera, which follow strict financial compliance and identity verification rules.

Avoid sending money through informal exchangers or social media vendors promising cheap dollar rates — these are often unregulated and risky.

By sticking with internationally licensed platforms that comply with both CBN and global anti-money-laundering laws, you can protect your funds and ensure your transfers are fully legitimate and secure.

Conclusion

Transferring money internationally from Nigeria doesn’t have to be complicated or expensive. With the right platform, you can enjoy transparent fees, fast processing times, and secure transactions without worrying about hidden charges or exchange rate losses.

Services like Wise, Grey, Changera, and Payoneer have made it easier than ever to send and receive money across borders at minimal cost.

If you regularly transfer money internationally from Nigeria, explore one or two of these low-fee money transfer options to see which best fits your needs. Always prioritize transparency, speed, and security when choosing a platform.

Have you tried any of the platforms mentioned above? Share your experience or favorite app in the comments — your insights could help others save time and money on their next international transfer.

Frequently Asked Questions

How to transfer money internationally without fees?

Sending money internationally without paying fees can be challenging, but not impossible. Several modern financial technologies now make it easier to avoid or significantly reduce charges compared to traditional banks.

The key is to understand the different types of costs involved and to choose platforms that minimize them.

Firstly, look for peer-to-peer (P2P) money transfer services such as Wise (formerly TransferWise), Revolut, or Remitly. These fintech platforms are designed to cut out the middlemen that banks rely on, allowing them to offer much lower or even zero fees for certain transfers.

Wise, for instance, uses local bank accounts in both the sender’s and receiver’s countries, which means the money rarely crosses borders — avoiding hefty international wire costs.

Secondly, you can use digital wallets and crypto-based transfers. Platforms like PayPal, Skrill, or even USDT-based transfers on blockchain networks can sometimes be done with minimal or no fees, depending on the method and network used.

However, this option requires both parties to have compatible wallets and understand digital transactions.

Another method is to take advantage of promotional offers. Many apps like Remitly, WorldRemit, and Sendwave offer first transfer free campaigns to attract new users. If you only need to make a one-time payment, this can be an easy way to send money abroad without incurring costs.

Additionally, using multi-currency accounts helps. Revolut, for example, allows users to hold multiple currencies and exchange them at the real mid-market rate with no markup. Transfers between Revolut users are completely free, even internationally.

It’s also wise to avoid weekend or credit card transfers, as these often come with hidden costs or unfavorable exchange rates. Always use bank transfers or debit card funding where possible.

In summary, while traditional banks charge heavily for international money transfers, fintech platforms like Wise, Revolut, Remitly, and crypto-based systems have made it possible to send money abroad with little to no fees.

Combining these options, understanding exchange rate markups, and timing your transfers strategically can help you send money internationally without paying extra.

How can I avoid international bank transfer fees?

Avoiding international bank transfer fees requires a bit of strategy and the right combination of tools. Banks traditionally charge both a sending fee and a receiving fee, and often apply a hidden exchange rate markup. To reduce or eliminate these costs, you can follow a few practical methods.

Start by using online money transfer services instead of traditional banks. Platforms such as Wise, Remitly, WorldRemit, and Revolut typically charge a small, transparent fee or none at all for certain destinations.

These platforms also use real-time exchange rates, ensuring you don’t lose money in currency conversion.

Another effective approach is to open a multi-currency account. This allows you to hold different currencies in one place and send funds locally within each region.

Wise, for example, provides users with local account details in major currencies like USD, GBP, and EUR, which means you can receive money without triggering international wire fees.

Timing your transactions can also help. Some banks charge higher rates during weekends or holidays when markets are closed. If you plan your transfers during regular business hours, you may benefit from better rates and lower charges.

Also, avoid using credit cards to fund international transfers. Credit card companies treat such payments as cash advances, leading to high interest and extra fees. Instead, use debit cards or direct bank transfers.

If you make frequent transfers to the same country, consider using local bank partners. Some Nigerian banks, for instance, have alliances with foreign banks in the UK or U.S., allowing smoother and cheaper cross-border transactions.

Finally, always compare providers using sites like Monito or Finder, which track real-time costs and fees across platforms. By choosing the lowest-cost provider and avoiding hidden markups, you can effectively eliminate most international transfer fees.

What is the best app to send money abroad from Nigeria?

The best app to send money abroad from Nigeria depends on where you’re sending the funds, how fast you want it delivered, and the payment method you prefer. However, a few platforms consistently stand out in terms of reliability, speed, and cost-effectiveness.

Wise (TransferWise) is one of the most trusted apps for sending money internationally from Nigeria. It provides a transparent fee structure and uses the real mid-market exchange rate — the same rate you’d see on Google.

Wise also supports transfers to over 80 countries, making it ideal for people who need flexibility and transparency.

Remitly is another excellent option, especially if you’re sending money to family or friends abroad. It offers two delivery options: Express (fast delivery using a debit card) and Economy (cheaper transfers using bank deposits).

Remitly often runs first-transfer promotions, meaning you can send money with no fees on your initial transaction.

Sendwave is very popular among Nigerians sending money to the U.S., UK, or Europe. It allows direct transfers to mobile money wallets and bank accounts with no hidden fees, and the app’s interface is simple enough for beginners.

WorldRemit is another strong choice for Nigerians. It supports transfers to more than 130 countries and offers multiple payout options: bank deposits, cash pickups, and mobile money. WorldRemit is particularly useful for countries where traditional banking access is limited.

Additionally, Chipper Cash and LemFi (formerly Lemonade Finance) are rising stars among Africans. These apps specialize in intra-African and overseas transfers, offering competitive exchange rates, instant transfers, and even virtual dollar cards.

Ultimately, the best app for sending money abroad from Nigeria is the one that offers low fees, fast delivery, secure transactions, and favorable exchange rates. For most users, Wise, Remitly, and LemFi top the list in 2025.

What is the cheapest app to send money internationally?

When it comes to affordability, the cheapest app for international transfers is typically Wise. The platform’s low fees and use of the mid-market exchange rate make it one of the best options for cost-conscious users.

Unlike banks that add a markup on currency conversions, Wise shows all charges upfront and ensures you get exactly what’s advertised.

Revolut is another highly affordable option, especially for users in regions where it offers full banking services. Revolut users can send money abroad for free or at very low cost, particularly when transferring between Revolut accounts in different countries.

Chipper Cash and LemFi are also strong contenders for users in Africa. These fintech apps focus on helping Africans send money abroad or across borders cheaply. Chipper Cash often allows zero-fee transfers between users and provides decent exchange rates for cross-currency payments.

PaySend and Remitly offer affordable transfers for those sending smaller amounts. PaySend, in particular, charges a fixed low fee regardless of the amount, making it great for predictable budgeting. Remitly’s Economy option can also be very cheap when you pay using bank deposits instead of cards.

For crypto-savvy users, USDT or Bitcoin transfers via stablecoin networks like TRC-20 can sometimes be the absolute cheapest — often less than $1 per transaction. However, this method requires both sender and recipient to be comfortable using crypto wallets.

In short, if you want the cheapest app overall, Wise remains the top choice due to its transparent fees and accurate exchange rates. For Africans, LemFi and Chipper Cash are cost-effective, while Revolut and PaySend are ideal for global users seeking low-cost, fast, and reliable transfers.

Which international bank transfer has no fee?

While most traditional banks charge for international transfers, some institutions and fintech banks have managed to eliminate or reduce fees through innovative solutions.

Revolut stands out as one of the few financial platforms offering zero-fee international transfers between its users. If both the sender and recipient use Revolut, transfers are instant and free, even across countries. Additionally, Revolut uses real exchange rates without hidden markups.

Wise also offers near-zero-cost transfers by avoiding traditional banking systems. Although it charges a small service fee, there are no hidden charges or inflated exchange rates. In some routes — particularly between major currencies like USD, GBP, and EUR — Wise’s cost is close to zero.

N26, a digital bank based in Europe, allows free international transfers for users who integrate their Wise accounts directly within the app. This partnership combines the efficiency of fintech with the stability of a regulated bank.

Some traditional banks waive international fees for premium account holders or for specific partner networks. For example, HSBC Premier and Citibank Global Transfer programs allow free or low-cost transfers between their branches in different countries.

For Nigerians, apps like LemFi and Chipper Cash have become practical solutions for no-fee transfers, particularly within Africa or from Nigeria to select Western countries.

In conclusion, while traditional banks rarely offer truly free international transfers, fintech solutions like Wise, Revolut, and LemFi have made it possible to send money globally with no hidden fees or exchange rate losses.

Is Remitly better than Wise?

Remitly and Wise are two of the most trusted international money transfer platforms, but which is better depends on your priorities—speed, cost, or convenience. Both companies have built strong reputations for transparency and reliability, yet they cater to slightly different audiences and transfer needs.

Wise (formerly TransferWise) focuses on affordability and fairness. It uses the mid-market exchange rate, meaning there’s no hidden markup when converting currencies.

The fees are low, clearly displayed before you send money, and usually deducted upfront. Wise is ideal for people who want to transfer larger sums or need accurate conversions without extra costs. It also supports more than 80 countries, allowing bank-to-bank transfers in most regions.

Remitly, on the other hand, emphasizes speed and delivery options. It offers two main transfer types: Express (funded by debit or credit card, usually instant) and Economy (cheaper, bank-funded, takes a few days).

This flexibility makes it perfect for users sending money to family or friends who need it urgently. Remitly also provides multiple payout methods such as cash pickup, mobile money, and bank deposits, making it accessible in areas where bank access is limited.

In terms of fees, Wise is usually cheaper for larger transfers or recurring payments, while Remitly might charge slightly more but compensate with instant delivery. However, Remitly often offers promotional free first transfers, which can be attractive to new users.

Security is strong on both platforms. They are fully licensed, encrypted, and regulated by financial authorities in multiple countries. Both also provide 24/7 customer support and tracking options for your transfers.

To summarize, Wise is better for users seeking low-cost, transparent, and predictable fees, while Remitly is better for those prioritizing speed and flexibility. In short: use Wise for affordability and fairness, and Remitly for urgency and convenience.

Which bank has the lowest international transaction fee?

The bank with the lowest international transaction fees varies depending on the country and transfer destination, but generally, digital-first or global banks offer far better rates than traditional ones.

In 2025, Revolut, N26, and Monzo rank among the banks with the lowest or even zero fees for international transfers. Revolut, in particular, allows users to send money globally at mid-market exchange rates with no extra markup, and transfers between Revolut users are entirely free.

HSBC Premier and Citibank Global Transfer are strong contenders among traditional institutions. They provide free or low-cost transfers between accounts within their own international networks. For instance, you can send money from an HSBC account in the UK to another in Nigeria or Canada with little to no fees.

In the U.S., Charles Schwab Bank and Capital One 360 are known for low or waived international transaction fees, especially for debit card foreign spending.

Meanwhile, Wise’s multi-currency account functions like a digital bank and offers local account numbers in several countries, allowing users to send and receive funds as local transactions—essentially eliminating traditional transfer fees.

If you’re in Nigeria, however, local banks such as Access Bank or GTBank still rely on SWIFT networks and charge significant fees. To save money, Nigerians often combine these accounts with fintech solutions like LemFi or Chipper Cash, which provide cheaper or even zero-fee cross-border transfers.

In short, digital banks such as Revolut, N26, and Wise lead in offering the lowest international transaction fees, while HSBC and Citibank remain the best among traditional banks for frequent global transfers.

What is the cheapest way to transfer money abroad?

The cheapest way to transfer money abroad is to use fintech-based online money transfer services that avoid traditional banking networks.

These platforms operate locally in both the sending and receiving countries, which means your money doesn’t actually cross international borders through SWIFT, reducing costs dramatically.

Wise (TransferWise) remains the most cost-effective option for most routes. It uses the real mid-market rate and charges minimal transparent fees. The app even displays how much your recipient will get before you send the funds, with no hidden deductions.

If you’re transferring smaller sums or sending money to Africa or Asia, Chipper Cash, LemFi, or Sendwave can be even cheaper. These platforms cater to African and diaspora communities, often offering free or near-free transfers and competitive exchange rates.

Revolut and N26 users can also send money abroad cheaply, especially when transferring between accounts on the same platform. Revolut’s free or low-cost foreign exchange service is among the most affordable ways to send or spend money in another currency.

For larger amounts, using crypto-based transfers (such as sending USDT on the TRC-20 network) can sometimes be the cheapest and fastest method—often costing less than $1 in network fees. However, this requires both sender and recipient to understand cryptocurrency handling and regulation.

To make the most of low-cost transfers, avoid credit card funding, send during weekdays, and always compare providers using sites like Monito or Finder. These platforms show you real-time rates and total costs for each option.

In conclusion, the cheapest ways to transfer money abroad today are Wise, LemFi, and Chipper Cash, depending on your location and the recipient’s region. Crypto and peer-to-peer options can also be incredibly cost-efficient when used responsibly.

Is there a way to avoid international transaction fees?

Yes, avoiding international transaction fees entirely is possible—but it requires choosing the right combination of financial tools and platforms.

Most fees come from traditional banking systems, currency conversions, and credit card surcharges. By using digital banks and fintech apps, you can eliminate or drastically reduce these costs.

One of the best methods is to use a multi-currency account like Wise or Revolut. These accounts allow you to hold, send, and spend money in multiple currencies without constant conversions. When you send money, it’s treated as a local payment in the destination country, bypassing international wire fees.

You can also avoid fees by making transfers between accounts on the same platform. For example, sending money from one Revolut user to another, or between Chipper Cash or LemFi users, is completely free—even across countries.

Avoiding credit card-based payments is another smart move. Credit card providers typically add foreign transaction fees (usually 1–3%) on top of exchange markups. Instead, fund your transfers with a debit card or bank account, which usually have lower or no additional costs.

For travelers or frequent international spenders, using a foreign transaction–free debit or credit card from banks like Capital One, Revolut, or Monzo can help eliminate extra charges when shopping abroad.

If your goal is to transfer money frequently, consider crypto-based stablecoin transfers. Sending USDT or USDC on low-fee blockchains such as TRON or Stellar can cost just a few cents per transaction.

In essence, to avoid international transaction fees:

1. Use fintech platforms instead of traditional banks.

2. Fund transfers with debit or bank accounts.

3. Transfer between same-platform users.

4. Use multi-currency accounts to skip conversions.

By following these methods, you can avoid nearly all international transaction fees and enjoy seamless cross-border financial management.

Is there a money app with no fees?

Yes, several money transfer apps now offer zero-fee international transfers, especially for transactions within their own ecosystems. These fintech platforms have revolutionized cross-border payments by using digital infrastructure that bypasses traditional bank intermediaries.

Chipper Cash is one of the most popular no-fee money apps in Africa. It allows users to send money across several African countries, the U.S., and the UK with zero transfer charges. Users can also buy airtime and pay bills directly in the app, making it a versatile financial tool.

Revolut is another app with no fees for international transfers between users. Even when sending to non-Revolut accounts, the app often offers zero or minimal fees, with transfers processed at real exchange rates.

LemFi (formerly Lemonade Finance) is also notable for Nigerians and other Africans. It allows users to hold balances in multiple currencies and send money abroad without paying transaction fees. Transfers to certain destinations, like the UK or Ghana, are typically instant and free.

Wise doesn’t offer completely free transfers, but its small fees and transparent pricing make it effectively “near-free” compared to traditional banks. Its multi-currency account also lets you receive funds in foreign currencies without paying extra.

For people comfortable with cryptocurrency, stablecoin wallets such as Binance Pay or USDT wallets can also provide no-fee transfers, especially between users on the same platform.

In short, yes—there are money apps with no fees, and the best options include Chipper Cash, LemFi, and Revolut. These platforms are redefining how people send and receive money internationally by removing unnecessary costs and making transfers fast, safe, and truly borderless.

Is Remitly cheaper than Western Union?

When comparing Remitly and Western Union, it’s clear that both companies serve a similar purpose — helping people send money across borders — but they differ significantly in terms of pricing, speed, and convenience.

In most cases, Remitly is cheaper than Western Union, especially for smaller, regular transfers.

Remitly operates primarily online, which helps it reduce costs associated with physical agent locations. Because of this, the platform can offer lower transfer fees and better exchange rates than traditional money transfer operators like Western Union.

For example, when sending $500 from the United States to Nigeria, India, or the Philippines, Remitly’s fee is often between $0 to $3, depending on the payment method and delivery speed. Western Union, on the other hand, may charge between $5 and $15, with an additional markup hidden in the exchange rate.

Another key difference is transparency. Remitly shows users exactly how much the recipient will get before completing a transaction.

There are no surprise deductions or mid-rate markups after payment. Western Union’s rates, however, can fluctuate between online and in-store transactions, making it less predictable in terms of cost.

Remitly also provides two delivery options:

1. Express transfers – faster but slightly more expensive.

2. Economy transfers – slower (taking 1–3 business days) but cheaper or even free.

Western Union’s advantage lies in its global reach and cash pickup network. With more than 500,000 agent locations worldwide, recipients can collect money in person without needing a bank account.

This makes Western Union ideal for those living in rural or unbanked areas. However, this convenience often comes at a higher price.

In terms of delivery time, Remitly’s Express option rivals Western Union’s speed, offering near-instant delivery for debit card payments. Both companies are highly secure and regulated by financial authorities in multiple countries, ensuring user protection.

To summarize, Remitly is generally cheaper than Western Union for online transfers due to its lower fees and better exchange rates. However, if the recipient needs cash pickup or doesn’t have internet access, Western Union might still be the more practical choice. For most users sending money digitally, Remitly offers better value, speed, and transparency.

How to send money from Nigeria to another country?

Sending money from Nigeria to another country has become easier in recent years, thanks to the rise of fintech platforms and digital banking solutions.

While traditional banks still process international transfers through the SWIFT network, they tend to be slow, expensive, and full of hidden fees. However, several modern methods now allow Nigerians to send money abroad safely, quickly, and affordably.

The first and most reliable option is using international money transfer apps such as Wise, Remitly, LemFi, Chipper Cash, or WorldRemit. These platforms support international transfers from Nigeria to various countries, including the United Kingdom, the United States, Canada, and parts of Europe.

• LemFi is particularly popular among Nigerians because it allows users to hold multiple currencies, such as Naira, Dollars, and Pounds. It also offers free or low-cost transfers to other LemFi users abroad.

• Chipper Cash provides instant, no-fee transfers across African countries and to selected destinations like the U.S. and UK.

• Wise (TransferWise) offers transparent exchange rates and low-cost international bank transfers.

To use these apps, users typically:

1. Download the app (e.g., LemFi, Wise, or Remitly).

2. Verify their identity using a government-issued ID.

3. Link a funding method such as a debit card, bank account, or digital wallet.

4. Enter the recipient’s details, including bank information or wallet address.

5. Confirm and send the money, with tracking available in real time.

Another option is using crypto-based transfers. Many Nigerians now use USDT or Bitcoin to send funds internationally because it bypasses traditional banking limits and high fees.

Stablecoins (like USDT) maintain a fixed value and can be converted into local currency by the recipient. However, both parties must understand crypto transactions and security precautions before using this method.

PayPal is another route, but its availability in Nigeria is limited for sending purposes. Only Nigerian business accounts can send money internationally, not personal accounts.

Finally, some Nigerian banks like GTBank, UBA, and Access Bank allow international transfers through domiciliary accounts. However, these transfers often attract higher fees and take several business days to process.

In conclusion, the easiest, fastest, and cheapest way to send money from Nigeria abroad is through fintech platforms like LemFi, Chipper Cash, or Wise. These apps provide low fees, fair exchange rates, and near-instant delivery — making cross-border payments more accessible than ever for Nigerians in 2025.

Can you send money internationally without a fee?

Sending money internationally without paying any fees is possible, but it depends heavily on the method, app, and destination.

Traditional banks usually charge fixed fees or percentage-based costs for international transfers because they rely on the SWIFT network, which adds multiple layers of processing. However, modern fintech companies have introduced systems that make zero-fee or near-zero-fee transfers achievable.

One of the most effective ways to send money without paying fees is by using fintech apps such as Chipper Cash, LemFi (formerly Lemonade Finance), or Revolut.

These platforms are built for digital cross-border transactions and have little to no overhead costs, allowing them to waive transfer charges. For example, Chipper Cash users can send money instantly across African countries or to the United States without paying any transfer fee.

Revolut works similarly for users in supported countries. Transfers between Revolut users are completely free, regardless of where they are in the world. Even when sending to non-Revolut accounts, fees are either minimal or eliminated during promotions.

Another method is using crypto-based transfers. Stablecoins like USDT (Tether), USDC, or DAI can be transferred between wallets for as little as a few cents, depending on the blockchain used. The recipient can then convert the cryptocurrency into their local currency through an exchange platform.

Some money transfer apps, such as Remitly and WorldRemit, also offer “first transfer free” promotions for new users. If you’re sending money occasionally, this can be a good way to move funds abroad without any cost.

You can also avoid fees by transferring money between accounts on the same platform. For example, Wise, Revolut, or PayPal users can send funds internally with no charges.

In conclusion, while traditional banks almost always charge international fees, it is now possible to send money internationally without paying fees by using fintech services like Chipper Cash, LemFi, Revolut, or crypto transfers.

The key is to choose digital-first platforms, take advantage of promotional offers, and ensure both sender and receiver use the same app or wallet system.

Does Zelle work in Nigeria?

Zelle does not work in Nigeria or in any country outside the United States. It is a U.S.-based peer-to-peer payment network designed for domestic use between American banks.

Zelle allows quick, free money transfers between U.S. bank accounts, but it does not support international transfers or foreign bank accounts.

To use Zelle, both the sender and recipient must have U.S. bank accounts that are part of the Zelle network and linked to a U.S. phone number or email address.

Nigerian banks such as GTBank, Access Bank, or First Bank are not compatible with Zelle’s infrastructure, which limits its use to individuals and businesses operating entirely within the United States.

If you live in Nigeria or want to send money there, you will need to use an international money transfer app that supports Nigerian transactions. Services such as LemFi, Chipper Cash, Remitly, WorldRemit, and Wise allow transfers between Nigeria and several countries, including the USA, UK, and Canada.

Some Nigerians try to work around this limitation by linking U.S. virtual accounts (through services like Payoneer or Wise), but Zelle still requires a physical U.S. bank that’s part of its network, meaning virtual accounts won’t work.

In summary, Zelle cannot be used in Nigeria because it operates exclusively within the U.S. banking system. Nigerians who need to receive international transfers should use global fintech platforms like LemFi, Chipper Cash, or Wise, which are built to handle cross-border payments efficiently and legally.

Which app is best for international transactions?

The best app for international transactions depends on your priorities—cost, speed, exchange rate, and coverage—but several leading apps consistently outperform others in 2025.

Wise (TransferWise) remains the most trusted platform for international transactions. It uses the mid-market exchange rate (the true rate you see on Google) and charges minimal, transparent fees.

Wise supports over 80 countries, and its multi-currency account lets users hold and spend in multiple currencies without conversion losses.

For African users, LemFi and Chipper Cash have become game changers. LemFi allows you to send and receive money in Naira, Pounds, Dollars, and other currencies, all from one wallet. Chipper Cash offers instant, no-fee transfers between African countries and to select destinations like the U.S. and UK.

If you value speed and convenience, Remitly is excellent. It offers two delivery options: Express (instant with a card) and Economy (cheaper through a bank). The app also provides cash pickup and mobile money options, making it ideal for regions with limited banking access.

Revolut is another top choice for international users. It combines banking, spending, and currency exchange in one app, offering free or low-cost international transfers at real-time rates.

For businesses or freelancers, Payoneer and Wise for Business are highly recommended because they provide global bank accounts in multiple currencies, making cross-border payments seamless.

Overall, the best app for international transactions in 2025 depends on your use case:

• For lowest fees → Wise

• For Africa-focused transfers → LemFi or Chipper Cash

• For fast delivery → Remitly

• For full banking features → Revolut

Each app provides transparency, speed, and user control—qualities that traditional banks rarely match.

What is the disadvantage of Remitly?

While Remitly is one of the most popular and reliable money transfer apps, it does come with a few disadvantages that users should be aware of before choosing it as their primary transfer platform.

The first limitation is fees and exchange rates. Although Remitly’s fees are lower than most traditional banks, they are still higher than competitors like Wise or Revolut, especially for large transfers.

Remitly often includes a small markup on exchange rates, meaning you may get slightly less value for your money compared to apps that use mid-market rates.

Another disadvantage is limited country support for sending money. While Remitly allows transfers to over 100 countries, it only permits sending from around 30 countries. For example, users in Nigeria or many African countries cannot send money using Remitly; they can only receive.

Remitly’s Express option, though fast, can be costly if funded through debit or credit cards. Additionally, depending on your bank, there might be restrictions or delays in processing.

A further drawback is transfer limits. New users have capped sending amounts until they provide additional identification. This is a necessary security measure, but it can inconvenience users needing to send larger sums.

Customer support, while available, has occasionally received mixed reviews for response times during high-traffic periods. Also, the platform focuses mainly on personal remittances and lacks business-friendly features like multi-currency wallets or batch payments.

In summary, Remitly’s disadvantages include slightly higher exchange rate markups, limited sending countries, capped transfer limits for new users, and occasional customer service delays.

However, for people sending small amounts quickly to family abroad, it remains one of the most convenient and user-friendly platforms available.

Who owns Remitly?

Remitly is owned by Remitly Global, Inc., a U.S.-based financial technology company headquartered in Seattle, Washington.

The company was founded in 2011 by Matt Oppenheimer, Josh Hug, and Shivaas Gulati with the mission to make international money transfers faster, cheaper, and more transparent than traditional banks and wire services.

Remitly started as a small remittance service for users in the U.S. sending money to the Philippines but has since grown into a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol RELY.

As a publicly listed firm, Remitly is owned by a combination of institutional investors, individual shareholders, and its founders.

The company has raised funding from top global investors, including Bezos Expeditions (Jeff Bezos’ investment arm), Generation Investment Management (founded by Al Gore), and Trilogy Equity Partners.

This strong financial backing has helped it expand to more than 170 receiving countries and attract millions of customers worldwide.

Matt Oppenheimer, one of the co-founders, still serves as the Chief Executive Officer (CEO), guiding the company’s vision of financial inclusion and digital innovation in remittances.

Remitly’s ownership structure ensures transparency, regulatory compliance, and accountability. It is licensed as a money transmitter in multiple U.S. states and regulated by authorities like FINTRAC in Canada and the FCA in the UK.

In essence, Remitly is not a privately owned startup anymore but a publicly traded, globally recognized fintech company owned collectively by its founders, shareholders, and major institutional investors.

Its ownership and leadership continue to focus on simplifying cross-border money transfers and making them more accessible to people around the world.

Which one is better, Remitly or WorldRemit?

When comparing Remitly and WorldRemit, both platforms are reputable and trusted for international money transfers, but each has unique strengths that appeal to different types of users.

The better option depends on your priorities — whether it’s speed, cost, country coverage, or delivery flexibility.

Remitly focuses on providing fast, user-friendly remittances for people sending money to friends and family abroad. Its biggest strength lies in its dual transfer options:

• Express Transfers (instant or within minutes, funded by debit/credit card)

• Economy Transfers (cheaper, bank-funded, taking 1–3 business days)

This flexibility gives users control over how much they pay and how quickly funds arrive. Remitly also has a simple interface, making it easy for beginners to navigate.

WorldRemit, however, offers more payout options. Recipients can receive funds through bank deposit, cash pickup, mobile money, or airtime top-up.

This is especially beneficial in countries where not everyone has a bank account. WorldRemit also supports more than 130 destination countries, slightly ahead of Remitly’s coverage.

In terms of cost, Remitly is often cheaper when using its Economy option, while WorldRemit can be more affordable for mobile money or cash pickups. Both platforms use exchange rates that include small markups, but Remitly is generally more transparent in showing total fees upfront.

Regarding speed, Remitly’s Express option is usually faster than WorldRemit’s fastest transfer method. Remitly transfers can arrive instantly, whereas WorldRemit may take a few hours depending on the receiving bank or mobile wallet provider.

Security-wise, both are fully licensed and regulated in multiple jurisdictions, offering strong protection for users’ funds and personal information.

Overall, Remitly is better if you value speed and simplicity, while WorldRemit is better if you want multiple payout methods and wider reach.

If your recipient prefers cash pickup or mobile wallet delivery, WorldRemit may be ideal. But if your top priorities are fast delivery and low fees, Remitly often has the edge.

Does Wise work in Nigeria?

Yes, Wise (formerly TransferWise) does work in Nigeria, but with some limitations. Nigerians can use Wise to receive money from abroad and hold funds in foreign currencies through its multi-currency account, but sending money directly from Nigeria to other countries is currently restricted due to local banking regulations.

Wise allows people outside Nigeria (for example, in the UK, US, or Canada) to send money to Nigerian bank accounts in USD, GBP, or EUR. However, the funds are typically received in U.S. dollars (USD) rather than naira (NGN), since direct naira transfers were paused following changes in Central Bank of Nigeria (CBN) policies.

For Nigerians who need to manage or hold foreign currency, Wise is still extremely useful. Its multi-currency account provides local banking details in over 10 currencies, including USD, GBP, and EUR. Users can receive payments like salaries, freelance income, or transfers from abroad without paying international wire fees.

While sending funds from Nigeria via Wise is restricted, users can still spend or withdraw from their Wise accounts abroad, use the Wise debit card in supported countries, or transfer funds between currencies within their account at real mid-market exchange rates.

For Nigerians needing to send money internationally, LemFi or Chipper Cash serve as more practical alternatives. These fintech apps are fully integrated with local Nigerian banks and allow low-fee or free transfers to several destinations.

In summary, Wise does work in Nigeria, mainly for receiving and holding foreign currency. It remains one of the best tools for Nigerians earning or receiving international payments, even though outbound transfers from Nigeria are currently limited.

What is the cheapest way to send money from Nigeria to USA?

The cheapest way to send money from Nigeria to the USA in 2025 is by using fintech platforms that bypass traditional banks and offer direct digital transfers.

Traditional banks in Nigeria charge high fees and often offer poor exchange rates due to the SWIFT network and regulatory overhead. Fintech apps like LemFi, Chipper Cash, and Wise have made this process faster, simpler, and more affordable.

LemFi is currently the best low-cost option for Nigerians sending money to the U.S. It allows users to hold both naira and dollar wallets and send funds instantly to U.S. bank accounts or other LemFi users without hidden fees. Transfers are processed digitally, eliminating SWIFT-related costs.

Chipper Cash is another excellent option, particularly for smaller amounts. It offers zero transfer fees for cross-border transactions between supported countries, including Nigeria, Ghana, Kenya, the UK, and the U.S. The app provides competitive exchange rates, making it one of the most affordable methods available.

Wise (TransferWise) can also be a great option if you already hold foreign currency, such as dollars or pounds, in a Wise account. It allows you to send USD directly to American bank accounts using the mid-market exchange rate and transparent fees.

Another affordable but less conventional option is cryptocurrency. Sending USDT (Tether) or another stablecoin via blockchain (e.g., the TRON network) can cost less than $1 per transaction.

The recipient can then withdraw the funds in USD using a trusted crypto exchange. However, both sender and receiver must be familiar with cryptocurrency regulations and security practices.

In summary, the cheapest ways to send money from Nigeria to the USA are:

• LemFi (for instant, no-fee transfers)

• Chipper Cash (for small, free transactions)

• Wise (for transfers from foreign-currency accounts)

• USDT/crypto (for experienced users avoiding traditional fees)

These methods avoid high banking costs, offer better exchange rates, and ensure quick delivery to the U.S.

Is PayPal good for international transfers?

PayPal is one of the most widely used platforms for online payments and international transfers, but whether it’s good depends on what you value — convenience or cost. While PayPal offers ease and global coverage, it is not always the cheapest or fastest option for sending money internationally.

The main advantage of PayPal is its accessibility. It operates in over 200 countries, and most online merchants, freelancers, and service providers accept it. Transfers between PayPal accounts are almost instant, and users can send money globally using only an email address.

However, the downside is PayPal’s high fees and exchange rate markups. When sending money internationally, PayPal charges between 3% and 5% in service fees, plus an additional currency conversion fee (often around 3–4%). These hidden charges make it one of the most expensive methods compared to Wise or Remitly.

Another drawback is limited functionality in Nigeria and some other African countries. Nigerian users can create PayPal accounts to receive payments (for business accounts) but cannot send money abroad using personal accounts. This restriction makes PayPal less practical for Nigerians sending funds internationally.

That said, for users in countries with full PayPal access, it remains a convenient tool for secure, quick transactions, especially for small amounts or online purchases. Its buyer protection policy also provides peace of mind when dealing with unfamiliar sellers.

In conclusion, PayPal is good for convenience and online payments, but not ideal for cost efficiency. If low fees and transparent exchange rates are your priorities, platforms like Wise, Revolut, or Remitly are much better alternatives.

Which app has the lowest transfer fee?

In 2025, several apps compete to offer the lowest transfer fees, but Wise (TransferWise) consistently leads the market in terms of transparency and affordability.

Wise charges a small, upfront fee (often less than 1%) and uses the real mid-market exchange rate, ensuring users get the true value of their money without hidden markups.

For users in Africa and the diaspora, LemFi and Chipper Cash are also among the cheapest. LemFi provides zero-fee transfers for specific routes, such as Nigeria to the UK or U.S., while Chipper Cash offers free peer-to-peer transfers across several countries.

Revolut is another strong contender, particularly in Europe and North America. It provides free or low-cost international transfers between Revolut users and applies minimal fees for foreign exchange.

PaySend also offers predictable pricing, charging a flat fee (usually around $2 per transfer) regardless of the amount or destination, making it a solid option for users who prefer consistency.

For crypto enthusiasts, transferring funds using stablecoins (like USDT or USDC on the TRON network) can be even cheaper, with transaction fees of less than $1. However, this requires both sender and receiver to use compatible digital wallets.

In summary, the apps with the lowest transfer fees are:

• Wise – best for global use and fair exchange rates.

• LemFi / Chipper Cash – best for African transfers.

• Revolut – ideal for international banking users.

• PaySend – simple, flat-rate transfers.
  Each provides affordable, secure, and fast transactions compared to traditional banks or older money transfer systems.

Can I Zelle myself?

You can Zelle yourself, but only if you have two separate U.S. bank accounts at institutions that both support Zelle.

For example, if you have one account at Chase Bank and another at Bank of America, you can link each account to a different email address or phone number in the Zelle network and send money from one to the other.

However, if both bank accounts are linked to the same phone number or email, the transfer won’t work because Zelle identifies users through those unique credentials. You’ll need to use two separate identifiers — one for each bank account — to successfully Zelle yourself.

Keep in mind that Zelle is strictly for domestic U.S. transfers, meaning you can only send or receive money within the United States. It does not work with international banks, including those in Nigeria or other countries.

If you’re looking to transfer money between your own accounts internationally, apps like Wise, Revolut, or Payoneer are better suited. These platforms let you move funds between currencies and across countries using your own multi-currency wallets with minimal fees.

So yes, you can Zelle yourself within the U.S., but not internationally. It’s best used for quick transfers between your own American bank accounts or between trusted U.S.-based contacts.

How can I send money without being charged a fee?

To send money without being charged a fee, you need to use digital platforms or methods that eliminate intermediary costs and offer free transfers within their networks. Traditional banks almost always charge transaction and exchange fees, but several modern apps have made zero-fee transfers possible.

Chipper Cash is one of the best-known examples. It allows free transfers between users in countries like Nigeria, Ghana, Kenya, the U.S., and the UK. You only need to fund your wallet, select the recipient, and send — all without extra charges.

LemFi also offers no-fee transfers for supported routes, particularly between Nigeria, Ghana, the U.S., and the UK. It provides local currency wallets, making it possible to send and receive funds instantly without conversion losses.

Revolut enables free transfers between its users globally, even across currencies. For other transfers, it applies minimal fees and uses real exchange rates, ensuring you never overpay.

If you’re in the U.S., Zelle allows you to send money to friends or between your own accounts instantly and without any fee, provided both banks support Zelle.

Another way to send money without fees is through cryptocurrency transfers. Sending stablecoins such as USDT or USDC between compatible wallets often costs less than $1. However, this method requires both sender and receiver to understand how crypto wallets work and how to convert funds safely.

In short, to send money without being charged:

• Use apps like Chipper Cash, LemFi, or Revolut.

• Send between same-platform users for free.

• Avoid credit card funding and bank wire systems.

• Consider stablecoin transfers for experienced users.

By choosing fintech platforms and digital-first solutions, you can completely avoid transfer fees while enjoying faster, secure, and borderless money transfers.

Which is better, Remitly or MoneyGram?

Choosing between Remitly and MoneyGram depends on your priorities — whether you want low fees, speed, or global reach.

Remitly is a modern, digital-first platform designed for convenience. It offers two main transfer options: Economy, which is slower but cheaper, and Express, which is faster but slightly more expensive.

The app is easy to use, and transactions can be tracked in real time. Because it operates online, Remitly has lower overhead costs, which allows it to offer better exchange rates and lower transfer fees. It also provides multiple delivery options, including bank deposits, mobile money, and cash pickup in some regions.

MoneyGram, on the other hand, is one of the oldest and most established money transfer companies in the world.

Its main strength is its extensive network of agent locations, which allows recipients to collect cash in person almost anywhere. This makes it ideal for people in rural areas or places with limited banking infrastructure.

However, MoneyGram’s traditional setup often leads to higher costs. It usually charges more in fees and offers less favorable exchange rates compared to Remitly. It also requires physical visits to agent offices in some cases, which can be inconvenient.

In short, Remitly is better for people who value low-cost, digital transfers and convenience. MoneyGram is better if the recipient prefers cash pickup or lives in an area with limited digital access. For most online transfers, Remitly is the cheaper and more efficient choice.

Which is better, WorldRemit or Western Union?

Both WorldRemit and Western Union are reputable and widely used, but they cater to slightly different audiences.

WorldRemit is designed for digital users who prefer online convenience. It allows senders to transfer money directly to bank accounts, mobile wallets, or cash pickup locations in over 130 countries.

One of its main advantages is lower fees and transparent pricing. Users can see exactly how much the recipient will receive before confirming the transaction. It is also faster than many traditional services, with most digital transfers arriving within minutes.

Western Union, on the other hand, remains the global leader in cash-based money transfers. It operates hundreds of thousands of agent locations worldwide, making it ideal for recipients who do not have bank accounts.

Western Union also allows multiple payment methods — online, in-person, and through mobile wallets — offering flexibility for both sender and receiver.

However, Western Union’s fees can be significantly higher than WorldRemit’s, especially for cash pickups and card-funded transactions. The exchange rates are often less favorable, meaning you may lose more on conversion.

In summary, WorldRemit is better if you value lower costs, speed, and digital transfers. Western Union is better if you need a trusted cash pickup service in remote or underserved areas.

Which is better, Remitly or Sendwave?

Both Remitly and Sendwave are excellent for international remittances, but they target different needs.

Remitly offers a full range of services including bank deposits, mobile wallet payments, and cash pickups. It’s ideal for users who want flexibility and reliability.

Transfers can be completed in minutes through the Express option or within a few days through the Economy option, which offers better rates. Remitly’s platform is regulated, secure, and easy to use, with 24/7 customer support.

Sendwave, in contrast, is built for simplicity and affordability. It focuses mainly on Africa and Asia and allows users to send small amounts quickly, often without any fees. Transfers go directly into mobile wallets or bank accounts, and its user interface is extremely straightforward.

However, Sendwave’s simplicity comes with limitations. It serves fewer countries, offers fewer payout methods, and sometimes has slower delivery times for larger transactions. It’s great for frequent, small transfers but not ideal for large payments or business use.

Overall, Sendwave is best for low-fee, small transfers to specific regions, while Remitly is better for faster, larger, and more versatile international transfers.

What is the disadvantage of MoneyGram?

Despite its reliability and global presence, MoneyGram has several disadvantages compared to newer fintech platforms.

First, MoneyGram’s fees tend to be higher than those of digital-only services. When sending money internationally, you often pay both a transfer fee and a hidden markup in the exchange rate. Over time, this can significantly increase the cost of transfers.

Second, speed and convenience can be an issue. Many MoneyGram transfers, especially those involving cash pickups, depend on agent locations that have limited hours or availability. Digital-only transfers are faster, but even they may take longer than fintech alternatives.

Third, limited transparency is a common complaint. While the company shows service fees, users may not always realize how much they lose through currency conversion rates.

Fourth, identity verification and compliance checks can delay transactions, especially for large amounts. While this is standard for all regulated services, MoneyGram’s process can sometimes be slow or confusing for users unfamiliar with documentation requirements.

Finally, digital access is limited compared to more modern apps. While MoneyGram has improved its online services, it still relies heavily on physical networks.

In short, the disadvantages of MoneyGram include higher costs, slower transfers, and less digital flexibility than newer competitors like Wise or Remitly.

Is XE a good way to transfer money?

Yes, XE is generally a good and reliable way to transfer money internationally, especially if your recipient can receive funds directly into a bank account.

XE is known for its competitive exchange rates and low or zero transfer fees on many routes. Unlike traditional banks, XE keeps its costs down by operating primarily online. This allows users to send money quickly, track transactions in real time, and enjoy better value for their transfers.

It is particularly useful for large transfers, since the exchange rate margins are smaller when sending higher amounts. XE also offers tools such as rate alerts, forward contracts, and market orders, which are helpful for people who regularly move money internationally.

However, XE is not perfect. It doesn’t offer cash pickup options, so it only works if the recipient has a bank account.

It can also take longer for some currencies, depending on the country and intermediary banks involved. Additionally, while XE advertises no transfer fees, a small exchange rate markup is still applied to most transactions.

Overall, XE is a strong choice for anyone sending moderate or large amounts internationally, particularly for personal, business, or investment purposes. It combines low fees, safety, and reliability with good digital convenience.

How to avoid MoneyGram fees?

Avoiding MoneyGram fees entirely is difficult, but there are smart ways to reduce or eliminate them depending on how you send money and where it’s going.

The first method is to choose a bank account transfer instead of a cash pickup. MoneyGram typically charges higher fees when recipients collect cash, but sending funds directly to a bank account or mobile wallet often costs less. If both sender and receiver have access to digital banking, this can significantly reduce expenses.

Another way is to fund your transfer using a bank account rather than a debit or credit card. Card-funded transfers usually attract higher processing costs. Although using a bank account takes slightly longer, it keeps the fees low.

You can also compare transfer methods and currencies before sending. MoneyGram’s website and app allow you to see the total cost and exchange rate before confirming. By checking this, you can adjust your transfer type or timing to minimize fees.

In some cases, promotional offers or referral discounts can help you send money at reduced or zero cost. MoneyGram occasionally provides promo codes for first-time users or recurring customers. Signing up for their newsletter or app notifications ensures you don’t miss these deals.

If you transfer money frequently, consider alternative digital services like Wise, Remitly, or Sendwave, which often offer lower overall costs. These apps use mid-market exchange rates and transparent fees, helping you save compared to traditional remittance networks.

Finally, for large or business transfers, it’s worth exploring foreign exchange specialists like XE or Revolut. These companies are known for near-zero fees and favorable exchange rates for higher-value transfers.

While MoneyGram is convenient and globally accessible, combining digital options, low-cost funding sources, and timing your transfers can help you minimize or avoid unnecessary charges.

Why is MoneyGram shut down?

MoneyGram is not completely shut down; however, there have been temporary service interruptions or restrictions in certain regions, including Nigeria and some African countries, due to regulatory and compliance challenges.

In many cases, financial authorities require strict anti-money laundering (AML) and know-your-customer (KYC) verification. If MoneyGram or its local partners fail to meet updated standards, operations can be temporarily suspended until compliance measures are restored.

For example, the Central Bank of Nigeria (CBN) has tightened rules around foreign remittances and international money transfers to ensure transparency and reduce fraud.

This has occasionally led to service delays or temporary halts for international money transfer operators (IMTOs) like MoneyGram, Western Union, and others.

Additionally, MoneyGram has faced competition from fintech startups offering faster, cheaper digital transfers, such as Wise, Remitly, and Sendwave. As a result, it has been restructuring its operations, investing more in digital services, and phasing out less efficient agent-based systems in certain regions.

In short, MoneyGram is not permanently closed. It continues to operate globally but has experienced temporary shutdowns or adjustments in specific markets due to evolving financial regulations and modernization efforts.

Which is more reliable, MoneyGram or Western Union?

Both MoneyGram and Western Union are among the most established international money transfer services, each with decades of global presence and millions of users. Their reliability depends largely on your specific needs — speed, location, or cost.

Western Union is generally considered more reliable overall due to its wider network. It has over 500,000 agent locations worldwide, making it easier for recipients to collect money in cash, even in remote regions. Its system is well-integrated and available in nearly every country, which ensures smoother processing and better access.

MoneyGram, while slightly smaller, is also highly dependable. It operates in more than 200 countries and territories and offers both digital and physical transfer options. However, some users report occasional delays or higher fees, especially when using card payments or converting currencies.

When it comes to digital reliability, both services have improved with apps and online transfers. Western Union’s platform tends to have better tracking and support systems, while MoneyGram sometimes processes transfers slightly faster in certain corridors.

In terms of security, both are fully licensed and regulated by financial authorities in multiple countries. They use advanced encryption and fraud prevention systems, making them safe for international transfers.

Overall, Western Union has a slight edge in reliability because of its broader global reach, stronger infrastructure, and consistent service availability, especially for cash pickups. MoneyGram remains a good choice but is better suited for users who value faster transfers and simpler app-based experiences.

Which is better, XE or Wise?

XE and Wise (formerly TransferWise) are two leading digital money transfer platforms, but they serve slightly different audiences.

Wise is built around transparency and fair pricing. It uses the mid-market exchange rate — the same rate you see on Google — with a small, clearly displayed fee. This makes it one of the most cost-effective options for international transfers.

It’s especially useful for sending money between bank accounts in supported countries, and transactions usually arrive within one to two business days. Wise also offers multi-currency accounts and debit cards, making it ideal for travelers, freelancers, or remote workers managing multiple currencies.

XE, meanwhile, is a foreign exchange specialist with strong tools for large transfers. It often charges no upfront transfer fees and provides competitive rates, especially for bigger transactions. XE also offers features like rate alerts and market insights, appealing to users who transfer money frequently or in large amounts.

However, for smaller everyday transfers, Wise usually provides better value due to its transparent pricing and faster processing. XE may be preferable for businesses or individuals sending large sums and seeking tailored support.

In conclusion, Wise is best for regular personal transfers and transparent fees, while XE excels at larger or more strategic money movements. Both are reliable and regulated, but Wise often wins on simplicity and user experience.

What is the cheapest method to transfer money internationally?

The cheapest way to send money internationally depends on where you are, where you’re sending it, and how the recipient wants to receive it. However, some general principles apply.

The most affordable methods are usually online money transfer apps and digital banks. Services like Wise, Revolut, Remitly (Economy option), Sendwave, and XE offer low or no transfer fees with competitive exchange rates. They operate digitally, cutting out middlemen and reducing costs.

In contrast, traditional banks and agent-based services like Western Union or MoneyGram tend to be more expensive. They charge higher fees and include hidden markups on exchange rates, which can cost up to 5–10% of your total transfer.

Using a bank-to-bank transfer through fintech platforms is often the cheapest option. For example, Wise allows you to send money directly from your bank account using the mid-market rate with only a small transparent fee.

You can also save by avoiding credit card funding or cash pickups, which are more costly due to processing and handling fees.

If you send money frequently, consider multi-currency wallets like Revolut or Payoneer. These allow you to hold and convert currencies instantly at near-interbank rates, saving you significant amounts over time.

In summary, the cheapest method is to use a digital transfer service that supports bank-to-bank transfers at the real exchange rate and to avoid credit card or in-person transactions whenever possible.

Does XE charge fees?

XE is famous for advertising “no transfer fees,” but that statement can sometimes be misleading depending on the transaction type and amount you send.

In most cases, XE does not charge a fixed transfer fee for standard bank-to-bank transfers. This means that when you send money abroad, XE itself won’t add an explicit service charge.

However, like most money transfer providers, it earns a small margin from the exchange rate spread — the difference between the market rate and the rate it offers you.

For example, if the actual mid-market rate is ₦1 = $0.00120, XE might offer ₦1 = $0.00118. That small difference, multiplied by the total amount sent, is how the company earns revenue while still keeping the transaction cheaper than most banks.

Additionally, depending on your recipient’s country or bank, third-party fees may apply. Some intermediary or receiving banks charge for international deposits, and XE does not control those external charges. These are more common with less popular currencies or smaller financial institutions.

Another factor is the payment method. While XE mainly supports bank transfers to minimize costs, using a credit or debit card (if supported in your region) can sometimes incur extra processing fees.

The good news is that XE is extremely transparent about all possible costs. Before completing your transaction, it clearly displays the amount the recipient will get, along with the current exchange rate. There are no hidden or surprise deductions after confirmation.

In summary, XE technically doesn’t charge transfer fees, but you should still account for slight rate markups and possible intermediary bank charges.

Despite this, XE remains one of the most cost-effective and transparent platforms for international transfers, especially for large transactions where percentage-based costs stay minimal.

What is the cheapest app to send money internationally?

The cheapest app to send money internationally depends on where you are sending from, the destination, and how the recipient receives the funds. However, a few global services consistently offer the lowest overall costs with fair exchange rates.

Wise (formerly TransferWise) is often considered the cheapest for international transfers. It uses the real mid-market exchange rate — the same one you see on Google — and charges a small, upfront fee.

Because it avoids inflated rates, it usually beats traditional banks and even some fintech competitors. Wise is ideal for people who send money directly to bank accounts in supported countries.

Sendwave is another excellent low-cost option, particularly for African countries such as Nigeria, Ghana, Kenya, and Senegal. Many Sendwave transactions have zero fees, especially when sending smaller amounts from countries like the U.S., U.K., or Canada. It’s best for personal remittances and mobile money deposits.

Remitly also provides competitive rates, especially using the Economy option, which trades speed for affordability. For those who prioritize speed, the Express option is slightly pricier but still cheaper than bank transfers or Western Union.

Revolut and Payoneer offer low-cost transfers as well, particularly for freelancers or international workers. These platforms use near-interbank exchange rates and support multi-currency wallets.

Lastly, XE and OFX are fantastic for large transfers, often waiving fees altogether and offering personalized rates.

In summary, Wise and Sendwave usually lead in affordability for personal remittances, while XE and OFX dominate for high-value international transactions. The cheapest option ultimately depends on your transfer method, but using digital-only apps always saves you more than using traditional banks.

Which is better, Remitly or Wise?

Both Remitly and Wise are trusted digital money transfer platforms, but they cater to slightly different audiences based on speed, pricing, and user needs.

Wise focuses on transparent, low-cost transfers using the mid-market exchange rate. It charges a small, upfront fee and avoids adding hidden markups, making it ideal for people who prioritize accuracy and fairness.

Wise is perfect for those sending money directly between bank accounts or managing multiple currencies through its multi-currency account feature.

Remitly, meanwhile, offers more flexibility. It allows senders to choose between two delivery options: Express, which is instant but costs more, and Economy, which takes a few days but has lower fees.

It supports a wide range of payout methods — including bank deposits, mobile wallets, and even cash pickups — making it more versatile for recipients in regions without full banking access.

When comparing fees, Wise is generally cheaper for most transfer routes. However, Remitly sometimes offers promotional rates that make it competitive. Remitly is especially strong in countries like Nigeria, India, and the Philippines, where mobile money and cash delivery options are crucial.

In terms of security, both are highly regulated and reliable. Wise holds financial licenses across major markets, while Remitly complies with strict money transfer regulations globally.

In conclusion, if your priority is transparency and consistent low costs, Wise is the better choice. If you value speed, flexibility, and multiple payout options, Remitly may suit you more. Both are excellent, but your choice depends on how and where your recipient wants to receive the funds.

How much is $100 Western Union in Nigeria?

The amount a recipient in Nigeria receives from $100 sent via Western Union depends on the current exchange rate, transfer method, and service fees at the time of the transaction.

Western Union uses its own internal exchange rate, which typically includes a markup on the standard market rate. For example, if the official USD to Naira rate is ₦1,550 per dollar, Western Union might offer around ₦1,480–₦1,520 per dollar, depending on market conditions.

This means that if you send $100, your recipient might receive between ₦148,000 and ₦152,000 after conversion. The exact amount also depends on whether the recipient is receiving through cash pickup, bank deposit, or mobile wallet.

Western Union also charges a transfer fee that varies depending on the sending country and payment method. Funding your transfer with a debit or credit card usually costs more, while bank transfers are cheaper but slower.

Additionally, Western Union’s partnership with Nigerian banks (such as Access Bank, First Bank, and UBA) allows recipients to collect cash in minutes. However, daily exchange rate fluctuations can affect the final payout.

For the most accurate figure, it’s always best to check Western Union’s rate calculator before sending, as it updates in real time.

In summary, when sending $100 to Nigeria, expect your recipient to get roughly ₦148,000 to ₦152,000, depending on the current Western Union rate and any applicable fees.

How can I avoid international bank transfer fees?

Avoiding international bank transfer fees completely requires a mix of strategic choices and using the right financial tools. Traditional banks often charge multiple layers of fees — including sender fees, intermediary charges, and receiver costs — which can add up quickly.

The most effective way to reduce or avoid these fees is to use online money transfer services like Wise, Remitly, Revolut, or XE. These fintech platforms bypass intermediary banks, offer real exchange rates, and charge minimal service fees. Some even provide fee-free transfers for first-time users or small amounts.

If you must use a bank, consider opening a multi-currency account that supports foreign transfers at reduced costs. Some global digital banks, like Revolut or Payoneer, allow users to hold multiple currencies and transfer funds internationally at interbank rates without extra charges.

Another strategy is to avoid using credit or debit cards for international payments, as these attract cross-border transaction fees. Instead, use direct bank transfers or account balances from verified remittance apps.

Timing also matters. Exchange rates fluctuate daily, so sending money when your home currency is stronger can increase the recipient’s amount without paying extra fees.

Lastly, check if your bank participates in international payment networks like SEPA (for Europe) or SWIFT fee-sharing agreements. Some banks offer lower-cost transfers for specific partner institutions.

By switching from traditional banks to modern digital money transfer apps and managing your currency timing smartly, you can effectively avoid or minimize international bank transfer fees while ensuring your recipient gets the best possible value.

How much does Western Union charge to send $1000?

The cost of sending $1000 through Western Union depends on several factors — including your location, destination country, payment method, and delivery option. Western Union’s fees vary widely, but understanding how they’re structured helps you minimize costs and avoid surprises.

If you fund the transfer with a debit or credit card, the fee is usually higher due to processing costs. On average, sending $1000 with a card might cost between $20 and $60, depending on where you’re sending from. The exact amount also varies based on whether your recipient is collecting the money in cash, bank account, or mobile wallet.

Transfers funded via a bank account are generally cheaper. In many cases, the fee can be as low as $5 to $15, but the delivery may take a few days. This is ideal if you’re not in a rush and want to save on costs.

However, fees are only part of the total cost. Western Union makes a portion of its profit through the exchange rate margin — a hidden cost built into the conversion rate.

For instance, if the mid-market rate for USD to NGN is ₦1,550 per dollar, Western Union might use ₦1,500 or ₦1,520. That difference, multiplied by $1000, could reduce the recipient’s payout by several thousand naira.

If you’re sending to Nigeria, for example, the recipient might receive around ₦1.5 million (depending on the day’s rate and the payout method). Always check the Western Union rate calculator online before confirming your transfer to know the exact amount the recipient will receive.

In summary, Western Union’s fee for sending $1000 typically ranges between $5 and $60, depending on your funding source and destination. To reduce costs, use bank transfers instead of cards, send during favorable exchange rate periods, and compare fees online before confirming your payment.

Is Remitly legit?

Yes — Remitly is 100% legitimate, secure, and fully regulated as a financial service provider. It’s one of the world’s leading digital money transfer platforms, used by millions of people to send funds across more than 170 countries.

Remitly is headquartered in Seattle, USA, and is publicly traded on the NASDAQ stock exchange under the ticker symbol RELY. This public listing means it operates under strict financial transparency and compliance laws, including regular audits by independent regulators.

The company is licensed by financial authorities in multiple jurisdictions — including the U.S. Department of the Treasury, the Financial Conduct Authority (FCA) in the U.K., and equivalent bodies across Europe and Asia.

These licenses ensure that all transactions comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.

Remitly uses bank-grade encryption to protect user data and employs two-factor authentication (2FA) to secure accounts. Every transaction is monitored by advanced fraud detection systems, making it one of the safest digital remittance platforms available.

In terms of reliability, Remitly offers two types of transfers: Express, which delivers funds in minutes for a small fee, and Economy, which takes 3–5 business days but offers lower costs. Both options are traceable via real-time notifications, so senders can track every step of the process.

Customer reviews on platforms like Trustpilot and Google Play are overwhelmingly positive. Users praise Remitly for its speed, transparency, and user-friendly interface. Complaints, when they occur, usually relate to verification delays, which are normal for financial compliance purposes.

In summary, Remitly is a legitimate and trustworthy money transfer service, not a scam or risky platform. It is safe, licensed, transparent, and widely used by millions of users worldwide.

Does Nigeria use Sendwave?

Yes — Nigeria actively uses Sendwave, and it has become one of the most popular platforms for receiving international remittances into the country.

Sendwave is particularly favored because it allows users in countries like the United States, Canada, the United Kingdom, and parts of Europe to send money instantly to Nigerian recipients with zero or minimal fees.

Sendwave works primarily through mobile banking and bank deposit options rather than cash pickups. In Nigeria, funds can be sent directly to major banks such as Access Bank, Zenith Bank, GTBank, First Bank, UBA, and Polaris Bank. Once the transaction is completed, the recipient usually receives the money within minutes, making it one of the fastest methods available.

One of the key reasons Nigerians prefer Sendwave is its fee-free transfer structure. Unlike traditional providers such as Western Union or MoneyGram, Sendwave often covers its costs by offering slightly lower exchange rates rather than charging direct service fees. This makes it a top choice for everyday remittances, especially smaller amounts.

The app is regulated and secure, licensed in all the countries where it operates. It uses strong encryption and verification processes to prevent fraud and ensure funds go directly to the intended recipient.

However, there are some limitations. Sendwave supports sending money into Nigeria, but you can’t use it to send money from Nigeria to other countries yet. The service is also focused mainly on personal transfers, not business or corporate payments.

To use it, senders must download the Sendwave mobile app, link a debit card, and verify their identity. Once set up, transfers can be completed in seconds, and both sender and receiver are notified instantly.

In conclusion, Nigeria does use Sendwave, and it remains one of the most reliable, fast, and affordable ways for Nigerians to receive international funds. It’s especially ideal for families, students, and small business owners receiving remittances from abroad.

Does WorldRemit own Sendwave?

Yes — WorldRemit and Sendwave are owned by the same parent company, but they operate as separate brands. The company behind both platforms is now called Zepz, which was formerly known as WorldRemit Group.

In 2021, WorldRemit officially rebranded its parent organization to Zepz after acquiring Sendwave, a mobile money transfer app that specializes in fee-free and instant transfers to Africa and Asia.

This acquisition was part of WorldRemit’s broader strategy to expand its footprint in emerging markets and offer faster, more affordable digital remittances.

Even though they share ownership, WorldRemit and Sendwave remain distinct services. WorldRemit offers a broader range of transfer options — including bank deposits, mobile money, cash pickups, and airtime top-ups — in over 130 countries. It targets both individuals and small businesses who send larger amounts or need multiple payout choices.

Sendwave, in contrast, focuses on simplicity and speed. It allows instant, low-cost transfers mainly to African and Asian countries, such as Nigeria, Ghana, Kenya, and Bangladesh. It’s ideal for smaller, more frequent remittances sent by individuals to family or friends.

Because both brands serve slightly different customer bases, Zepz continues to maintain them independently. This allows Sendwave to keep its low-fee structure and simple app experience while letting WorldRemit cater to users who need more flexibility or international coverage.

In summary, WorldRemit owns Sendwave through their shared parent company, Zepz, but both apps function independently. They complement each other — WorldRemit focusing on global, multi-option transfers, and Sendwave excelling at instant, low-cost remittances to developing regions.

Is Sendwave better than Western Union?

Whether Sendwave is better than Western Union depends on what matters most to you: cost, speed, accessibility, or coverage.

Sendwave is clearly superior in terms of affordability and convenience. It offers zero or very low fees, uses competitive exchange rates, and transfers money instantly to recipients in countries like Nigeria, Ghana, and Kenya.

For many users, Sendwave is also easier to use — everything is done through a simple smartphone app with no need to visit physical locations.

Because Sendwave is digital-only, transfers are typically instant, and the recipient receives funds directly into their bank account or mobile money wallet. This makes it perfect for families or individuals who send money frequently for daily expenses.

However, Western Union still holds advantages in reach and flexibility. It operates in over 200 countries and has hundreds of thousands of physical agent locations worldwide. This allows people in remote or rural areas to receive cash in person, even if they don’t have a bank account or mobile wallet.

That said, Western Union’s fees are significantly higher, especially for card-funded transfers or cash pickups. Its exchange rates are also less favorable than Sendwave’s, meaning the recipient often gets less money overall.

In short, Sendwave is better for digital, fast, and low-cost personal remittances, while Western Union is better for cash-based transfers in areas with limited banking access. For most users who value convenience and savings, Sendwave is the clear winner.

What is the cheapest way to transfer money internationally?

The cheapest way to send money internationally is to use digital remittance platforms that offer low fees and real exchange rates instead of relying on traditional banks or in-person services.

Services like Wise (TransferWise), Sendwave, Remitly (Economy option), and XE consistently rank among the cheapest because they operate fully online, eliminating intermediaries and unnecessary costs.

Wise, in particular, uses the mid-market exchange rate — the same rate you’d see on Google — with only a small transparent service charge. This makes it ideal for bank-to-bank transfers across major currencies.

For African and Asian countries, Sendwave and Remitly often offer the lowest-cost transfers. Sendwave typically has no transfer fees, and Remitly’s Economy service provides excellent exchange rates when time is not a constraint.

Another affordable option is Revolut, which allows users to hold multiple currencies in one account and transfer them globally at near interbank rates. It’s especially good for freelancers and digital nomads.

To save even more, always avoid using credit or debit cards to fund your transfers, since these incur higher fees. Instead, link your local bank account or use direct debit payments when possible.

In summary, the cheapest international transfers usually come from digital-only platforms that provide transparent pricing and bypass traditional banking networks. Wise and Sendwave remain top choices, depending on where you’re sending money and how the recipient receives it.

Is Xoom free?

No — Xoom is not free, although it is often marketed as a fast and convenient way to send money internationally. Xoom, a service owned by PayPal, charges fees that vary based on the amount sent, the destination country, and how you choose to pay.

For instance, if you use a debit or credit card to fund your transfer, Xoom’s fees are higher due to processing costs.

The app also adds a small margin to its exchange rates, meaning the rate you get is slightly lower than the mid-market rate. This is another way Xoom earns revenue, even if it advertises “low fees.”

If you fund your transfer using a bank account, the fee is typically lower. However, those transactions can take longer to process. The total cost you pay includes both the transfer fee and any exchange rate difference.

Xoom’s advantage is its speed. Transfers to many countries, including Nigeria, the Philippines, and Mexico, arrive within minutes. It also supports multiple payout methods such as bank deposits, mobile wallets, and cash pickups through partner networks.

Although Xoom is not free, it remains popular because of its reliability and integration with PayPal accounts, making it easy for existing PayPal users to send money abroad.

To minimize costs, it’s best to use bank funding instead of cards, compare rates before sending, and consider alternatives like Wise or Sendwave if low fees are your top priority.

Can I use PayPal to send money internationally?

Yes — you can use PayPal to send money internationally, but it’s not always the cheapest option. PayPal supports cross-border transfers to many countries, but fees and currency conversion costs can make it more expensive than specialized money transfer apps.

When you send money through PayPal internationally, the platform charges a percentage-based fee that depends on the recipient’s country, the transaction amount, and whether you fund it through your PayPal balance, debit card, or credit card.

For example, if you send from the U.S. to Nigeria or the U.K., you might pay between 3% to 5% in total fees.

PayPal also adds a currency conversion markup — usually around 3% to 4% above the market exchange rate — which further increases the cost. If your recipient withdraws the money into their local bank account, there may be additional withdrawal charges depending on their region.

That said, PayPal remains one of the most secure and widely accepted online payment platforms. It’s excellent for freelancers, e-commerce transactions, and online purchases. However, for regular family remittances, other platforms like Wise, Remitly, or Sendwave offer better value and faster delivery.

To send money internationally on PayPal, both you and your recipient must have verified PayPal accounts. Once logged in, you can choose “Send & Request,” enter the recipient’s email, select the amount, and complete the transfer in minutes.

In short, yes — PayPal can send money internationally, but it’s not fee-free and often costlier than dedicated remittance services. Use it when convenience and global reach matter more than minimizing fees.

Which country owns MoneyGram?

MoneyGram International, Inc. is an American company headquartered in Dallas, Texas, USA. It was originally founded in 1940 under the name Travelers Express Co., which later evolved into MoneyGram after merging with Integrated Payment Systems in the late 1990s.

Over the years, MoneyGram has grown into one of the world’s largest money transfer and payment service providers, operating in over 200 countries and territories.

In 2023, MoneyGram underwent a significant change in ownership when it was acquired by Madison Dearborn Partners (MDP), a private equity firm based in Chicago, Illinois. This acquisition turned MoneyGram into a privately held company after decades of being publicly traded on the NASDAQ stock exchange.

The move was designed to give MoneyGram more flexibility to expand its digital services and compete with new fintech companies like Wise, Remitly, and Sendwave.

Although MoneyGram remains an American company, it has a strong global presence. It has regional offices across the world, including in London, Hong Kong, and Nairobi, serving customers who send billions of dollars in remittances annually.

MoneyGram’s core business revolves around helping people transfer money internationally, receive remittances, and pay bills.

Its services are offered both digitally through its app and website, and physically through a vast network of over 400,000 agent locations worldwide, many of which are in partnership with local banks and retailers.

While its headquarters and ownership are American, the company’s global focus makes it one of the most recognized brands in the remittance industry. Despite the rise of cheaper digital competitors, MoneyGram continues to hold a strong position, especially in regions where cash-based transactions remain dominant.

In summary, MoneyGram is owned by an American private equity firm (MDP) and is headquartered in Dallas, Texas, with a global operational reach that serves millions of customers across every continent.

Does MoneyGram still work in Nigeria?

Yes — MoneyGram still operates in Nigeria, but with some restrictions and regulatory adjustments over the years.

Nigerians can both receive and send money through MoneyGram, although outbound transfers (sending money from Nigeria to other countries) are often subject to Central Bank of Nigeria (CBN) policies and foreign exchange availability.

MoneyGram has a long-standing presence in Nigeria through partnerships with major banks such as First Bank, Access Bank, GTBank, Zenith Bank, and UBA.

These banks act as MoneyGram agents, allowing customers to pick up cash transfers or receive funds directly into their accounts in naira or U.S. dollars, depending on the type of transaction and regulatory requirements.

For inbound transfers — that is, money sent to Nigeria from other countries — MoneyGram is fully functional. Many Nigerians rely on it for receiving remittances from family members abroad, especially from the United States, Canada, and the United Kingdom.

The funds can be received in USD, in compliance with Nigeria’s CBN guidelines that require international remittances to be paid in foreign currency.

However, for outbound transfers (sending money from Nigeria abroad), there are restrictions. Due to foreign exchange shortages and CBN’s tight control on dollar availability, only a few licensed international money transfer operators (IMTOs) can facilitate such transactions, and even then, limits and documentation requirements apply.

Overall, MoneyGram remains a trusted and reliable option for receiving money in Nigeria. The process is straightforward: the sender provides the recipient’s details, MoneyGram reference number, and once processed, the recipient can pick up cash or have it credited to their bank account.

In short, yes — MoneyGram still works in Nigeria, primarily for receiving funds. Nigerians can collect their remittances through partner banks, making it one of the most accessible and established remittance platforms in the country.

What ID is required for MoneyGram?

When receiving or sending money through MoneyGram, proper identification is mandatory to comply with Know Your Customer (KYC) and anti-money laundering regulations.

The exact type of ID required depends on the country, but in Nigeria and most other nations, you typically need to present one or more of the following:

• Valid International Passport

• National ID Card (NIN slip or e-card)

• Driver’s License

• Voter’s Card

• Bank Verification Number (BVN) (for account-based transactions)

For Nigerian residents, most banks acting as MoneyGram agents require a government-issued ID, along with the MoneyGram reference number, sender’s name, amount expected, and test question/answer (if applicable). Some locations may also ask for proof of address, especially if the transfer exceeds a certain limit or involves foreign currency.

For senders outside Nigeria, acceptable IDs include driver’s licenses, passports, or national identity cards issued by their country of residence.

If the transaction is conducted online or through the MoneyGram mobile app, users must complete digital verification, which involves submitting scanned documents or taking live selfies to confirm identity.

MoneyGram enforces strict ID verification to ensure compliance with international financial regulations, prevent fraud, and stop the misuse of remittance systems for illegal purposes.

In summary, to use MoneyGram, you must present a valid, government-issued ID — such as a passport, national ID, or driver’s license — along with the transaction details. Ensuring your name matches exactly between your ID and transaction form will prevent delays or issues when collecting funds.

What are the disadvantages of MoneyGram?

While MoneyGram is a reputable and widely used remittance service, it has several disadvantages compared to newer digital competitors like Wise, Remitly, and Sendwave.

The first major drawback is high transfer fees. MoneyGram charges a percentage-based fee depending on the transfer amount, payment method, and destination country.

If you pay with a credit or debit card, the fees can be significantly higher than with bank-funded transfers. Additionally, the exchange rates offered by MoneyGram often include a hidden markup, meaning the recipient receives slightly less than the mid-market rate.

The second issue is slower transaction times for some transfers. While many payments are processed instantly, others — particularly bank deposits — may take up to several days, depending on the destination country and local banking systems.

Another disadvantage is the requirement to visit agent locations for cash pickups, which can be inconvenient in rural or underbanked areas. Although MoneyGram has expanded its digital platform, a large portion of its operations still rely on physical locations, unlike Wise or Sendwave, which are fully app-based.

Regulatory limits and compliance requirements can also be frustrating for users. You’ll need valid identification, sometimes proof of address, and in certain cases, additional documentation for larger transactions.

Finally, MoneyGram’s customer support experience can vary widely by region. Some users have reported delays in refunds or difficulty tracking transactions when issues occur.

In conclusion, while MoneyGram remains reliable and accessible, its fees, exchange rates, and limited digital functionality make it less attractive compared to modern fintech platforms. It’s best suited for those needing cash pickup services in regions where other apps have limited presence.

What is better than MoneyGram?

Several modern money transfer apps are considered better than MoneyGram in terms of fees, convenience, and speed. Leading alternatives include Wise, Remitly, Sendwave, XE, and WorldRemit.

Wise (formerly TransferWise) is often the top recommendation because it uses the real mid-market exchange rate and only charges a small, transparent service fee. Transfers are typically faster and cheaper, especially for bank-to-bank payments in USD, EUR, or GBP.

Remitly offers both fast and economy options. Its Express service delivers instant transfers for a small fee, while its Economy option provides excellent exchange rates if you can wait one to three days.

Sendwave is ideal for Africans and Asians. It offers fee-free transfers to many countries, including Nigeria, Ghana, and Kenya. Funds arrive instantly in mobile money wallets or bank accounts.

XE is another great option for larger transfers. It provides competitive exchange rates and minimal fees, making it a strong alternative for businesses and frequent senders.

Compared to these platforms, MoneyGram’s costs are higher, and its reliance on cash pickup makes it less efficient in today’s digital economy. However, it still holds value for users in areas with limited internet access.

In short, if you want lower costs and faster service, Wise and Sendwave are the best alternatives to MoneyGram. If you prefer multi-option flexibility, Remitly or WorldRemit may suit your needs better.

Why do people use Western Union instead of a bank?

People use Western Union instead of banks for international money transfers primarily because of its speed, global reach, flexibility, and convenience.

While banks have traditionally been the go-to for cross-border payments, Western Union’s vast network and specialized remittance services make it a preferred option for millions worldwide.

One of the key advantages of Western Union is its global accessibility. With over 500,000 agent locations in more than 200 countries, it offers services even in areas where banks have limited presence.

This makes it ideal for recipients in developing countries or rural regions who may not have a bank account. A person can walk into a Western Union location and collect cash instantly, without needing to open an account — something traditional banks usually require.

Another reason is speed. Many Western Union transactions are processed within minutes, especially for cash pickups and mobile wallet deposits.

In contrast, international bank transfers can take several business days due to processing delays, currency conversions, and intermediary bank verifications. For emergencies, such as family support or urgent payments, Western Union provides near-instant solutions.

Flexibility is also a major factor. Western Union allows users to send money through various channels — in person, online, through its mobile app, or even by phone.

Recipients can choose to receive funds in cash, directly to a bank account, or into a mobile wallet. This level of choice gives it a distinct advantage over banks, which usually only support account-to-account transfers.

Furthermore, Western Union’s simplicity and trust appeal to users who may not be tech-savvy. Its long-standing reputation since 1851 and clear transaction process make it reliable for people uncomfortable with digital fintech apps.

However, it’s worth noting that Western Union’s fees can be higher than modern digital alternatives, and its exchange rates are not always competitive. Despite that, people still choose it because of its dependability and reach — particularly in countries where newer digital platforms like Wise or Remitly are not yet available.

In essence, people use Western Union instead of banks because it’s faster, easier, and more accessible, especially for unbanked individuals and cross-border families who prioritize convenience over cost.

How do I avoid fees when sending money internationally?

Avoiding international money transfer fees requires strategic choices about which platform you use, how you fund the transfer, and where your recipient receives it. While it’s almost impossible to avoid every cost, several legitimate ways can minimize or eliminate most fees.

The first step is to use fee-free money transfer apps such as Sendwave, Revolut, or Remitly (Economy plan). Sendwave, for example, allows you to send money from countries like the U.S. or U.K. to Africa and Asia with no transfer fees and competitive exchange rates.

Similarly, Revolut offers free global transfers between users, making it a cost-effective option for individuals and freelancers dealing with international payments.

Another reliable platform is Wise (formerly TransferWise). While not always completely free, Wise is among the cheapest because it uses the mid-market exchange rate with no hidden markup. You only pay a small transparent fee, and the recipient receives nearly the full amount.

To further reduce costs, avoid using credit or debit cards to fund transfers. Card-funded transactions often attract higher fees due to processing costs and cash advance charges. Instead, link your bank account directly or use ACH transfers, which are cheaper and sometimes free.

If you send money regularly, check whether your provider offers membership benefits or loyalty discounts. For instance, Remitly and WorldRemit occasionally waive fees for first-time users or specific transfer routes.

For businesses and freelancers, using multi-currency accounts like those from Wise or Payoneer can also help. These accounts let you hold and send money in multiple currencies without converting them unnecessarily, thereby saving on both conversion and transfer fees.

If you must use a traditional bank, plan your transfer strategically. Some banks offer international fee-free transfers between partner banks or accounts within the same global banking network (e.g., HSBC Global Transfers).

Lastly, always compare platforms before sending. Sites like Monito or Finder allow you to compare real-time transfer costs, exchange rates, and delivery times to choose the cheapest method.

In summary, you can avoid or minimize fees by using digital-first remittance apps, funding transfers through bank accounts instead of cards, taking advantage of promotions, and using multi-currency accounts to bypass conversion losses.

The key is to prioritize transparent platforms like Wise or Sendwave that eliminate hidden costs and deliver full value to your recipient.

How much does Western Union charge for international transfers?

Western Union’s international transfer fees vary depending on the country of origin, destination, payment method, and delivery option. Generally, fees can range from $0 to $50 per transaction. The cheapest option is usually bank-to-bank transfers, while cash pickups and credit card payments tend to cost more.

If you fund a transfer using a bank account, Western Union may charge around $0 to $5 for certain destinations. However, using a credit or debit card to fund the same transfer can raise the fee to $10–$20 or more.

For example, sending $400 from the United States to Nigeria might cost between $5 and $15, depending on how quickly the recipient wants to receive the money.

Additionally, Western Union applies an exchange rate margin — a small markup on the currency conversion rate. This hidden cost can make your total payment slightly higher than it first appears. So, even if the transfer fee looks low, you may lose a few extra dollars due to the exchange rate.

Fees also depend on how the recipient receives the money. Cash pickups are faster but more expensive, while bank transfers or mobile wallet deposits are cheaper options. You can calculate the exact fee using Western Union’s fee estimator before sending money.

In summary, Western Union’s charges are based on several factors, but choosing bank funding and slower delivery is the best way to minimize costs.

Which app is best for international transactions?

The best app for international transactions depends on your location, purpose, and destination, but globally recognized leaders include Wise, Remitly, Revolut, and Payoneer.

Wise (formerly TransferWise) is considered the best overall because it offers real exchange rates (mid-market) and transparent fees. It’s ideal for individuals, freelancers, and businesses needing fast, affordable international payments.

Revolut is excellent for multi-currency spending and travel. It allows users to hold and exchange over 30 currencies, make fee-free international card payments, and transfer funds globally with minimal cost.

Remitly stands out for remittances — it provides two transfer speeds (Express and Economy) and supports direct bank deposits, cash pickups, and mobile wallets.

Payoneer is designed for freelancers and global businesses, offering cross-border payments, multi-currency accounts, and lower fees than traditional banks.

Each of these apps is regulated and secure, ensuring compliance with international money transfer standards. If you’re sending money from Nigeria, LemFi, Chipper Cash, and Wise are the best local-friendly options.

What is the best app to send money abroad from Nigeria?

The best apps to send money abroad from Nigeria are LemFi, Chipper Cash, and Wise. These platforms are trusted, fast, and relatively cheap compared to traditional banks or remittance companies.

LemFi is a Nigerian-founded fintech that allows users to hold multi-currency wallets in Naira, Dollars, and Pounds. It enables free transfers between LemFi users globally and offers low-cost cross-border transfers.

Chipper Cash is another popular option. It supports instant, free transfers between African countries and some international corridors like the U.S. and the U.K. Users can send and receive money directly using their phone number.

Wise (TransferWise) remains one of the most transparent and globally recognized platforms. It supports transfers to over 160 countries at the real exchange rate, with small, clearly displayed fees.

For Nigerians abroad, Remitly and WorldRemit are also excellent for sending money home to Nigeria, but for sending from Nigeria outwards, LemFi and Wise are the top picks in 2025.

Does Remitly work in Nigeria?

Yes, Remitly works in Nigeria, but primarily for receiving money, not sending. Nigerians abroad — in the U.S., U.K., Canada, or Europe — can use Remitly to send money to recipients in Nigeria. The funds can be received through bank deposits, mobile wallets, or cash pickups at partner locations.

However, Nigerian residents cannot send money out of Nigeria using Remitly at this time. This limitation is due to Central Bank of Nigeria (CBN) regulations on outbound remittances.

Therefore, while Nigerians can receive USD, GBP, or EUR through Remitly, they cannot initiate international transfers via the app from Nigeria.

Recipients typically receive funds in U.S. dollars, as per CBN’s diaspora remittance policy. Funds can be picked up at partner banks like GTBank, Access Bank, Zenith Bank, and First Bank.

For outbound transfers, Nigerians must use Wise, LemFi, or Chipper Cash, which support sending money internationally.

Who owns Remitly?

Remitly is owned by Remitly Global, Inc., an American financial technology company headquartered in Seattle, Washington, USA. It was founded in 2011 by Matt Oppenheimer, Josh Hug, and Shivaas Gulati.

The company’s mission is to make international money transfers faster, cheaper, and more transparent, particularly for immigrants and diaspora communities sending money home. Remitly went public on the NASDAQ stock exchange in 2021, trading under the ticker symbol RELY.

Remitly operates in more than 170 countries, offering digital remittance services through its web platform and mobile app. Its network covers over 3,000 banks and cash pickup locations globally.

As of 2025, Remitly continues to grow, with strong competition from Wise, Western Union, and WorldRemit. The company remains focused on expanding its user base across Africa, Asia, and Latin America while maintaining low-cost and reliable transfer services.

What is the disadvantage of Remitly?

While Remitly is one of the most popular platforms for international money transfers, it still comes with several limitations that users should understand before using it.

The main disadvantages include limited sending countries, exchange rate markups, transfer restrictions, and potential delays for certain payment methods.

One of Remitly’s biggest downsides is that it is not available in all countries for sending money. Although it supports transfers to over 170 countries, it only allows users to send money from about 20 countries, such as the U.S., U.K., Canada, and parts of Europe.

This means that people living in countries like Nigeria, Ghana, or Kenya can receive money but cannot send money abroad using Remitly.

Another disadvantage is the exchange rate margin. While Remitly advertises low fees, it sometimes makes up the difference by offering slightly lower exchange rates than the mid-market rate. For example, if the real exchange rate is ₦1,600 per U.S. dollar, Remitly might offer ₦1,560, effectively taking a small hidden fee on every transfer.

Remitly’s Express transfer option, which delivers money within minutes, can also be more expensive. Users may pay higher fees when funding a transfer using a credit or debit card, as card payments often attract additional charges.

Moreover, transfer limits apply depending on your account level and verification status. Unverified accounts or first-time users may face restrictions on how much they can send within a day, week, or month.

Lastly, some users have reported delays in receiving money, especially with bank transfers in developing countries. While cash pickup is often instant, bank deposits can take between 1–3 business days.

Despite these drawbacks, Remitly remains a trusted and convenient option due to its user-friendly interface, strong security, and fast delivery times. However, for frequent or high-value transfers, users might find better value through Wise or Revolut, which offer transparent fees and better exchange rates.

Is Wise cheaper than international bank transfer?

Yes — Wise (formerly TransferWise) is significantly cheaper than international bank transfers in almost every case. Traditional banks often charge hidden fees, apply poor exchange rates, and take several days to process transfers, while Wise is built to make global payments transparent, fast, and affordable.

When using a bank for an international transfer, you often face multiple layers of fees — including a transfer fee, intermediary bank charges, and hidden exchange rate markups.

For example, if you send $1,000 from the U.S. to the U.K., a bank might charge $30–$50 in fees and deliver less than expected due to poor conversion rates.

Wise, on the other hand, uses the real mid-market exchange rate, which is the same rate you see on Google or XE.com. It adds a small, upfront fee, which is clearly displayed before you confirm the transaction.

Typically, Wise’s fee ranges between 0.5% and 1% of the transfer amount — often saving users up to 8x compared to traditional banks.

Additionally, Wise is faster. Most transfers are completed within minutes or hours, while bank transfers can take 3–5 business days. Wise also provides full transparency, showing the exact amount the recipient will receive before you hit send.

For users in Nigeria and other developing countries, Wise also supports multi-currency accounts, allowing you to hold, receive, and send money in different currencies (USD, GBP, EUR, etc.) without converting unnecessarily.

In short, Wise is cheaper, faster, and more transparent than bank transfers, making it the better choice for both individuals and businesses dealing with international payments.

Which app is better than Remitly?

While Remitly is excellent for remittances, several apps outperform it in certain aspects, such as lower fees, exchange rates, flexibility, and global availability. The main alternatives include Wise, Revolut, Payoneer, and Sendwave — depending on your specific needs.

Wise is considered the most transparent and cost-effective alternative. It uses real exchange rates with no hidden markup and offers multi-currency wallets. It’s ideal for freelancers, travelers, and remote workers.

Revolut goes beyond money transfers — it provides a full digital banking experience. Users can hold and exchange more than 30 currencies, spend globally with no foreign transaction fees, and transfer money abroad instantly.

Payoneer is another great alternative for professionals and businesses. It supports payments in over 200 countries and lets users receive funds from international clients directly into their Payoneer account, often with lower fees than banks.

For Africa and Asia-focused transfers, Sendwave offers free or near-free transactions with instant delivery, making it better than Remitly for those specific regions.

In conclusion, while Remitly is best for family remittances, Wise and Revolut are better for global users who need cheaper, faster, and more versatile international money management.

How much is $1 dollar in naira now today?

As of October 2025, the exchange rate of $1 (USD) to Nigerian Naira (NGN) fluctuates between ₦1,550 and ₦1,650, depending on the market source and whether it’s the official CBN rate or the parallel market rate.

At the official rate, typically used by banks and government transactions, $1 equals around ₦1,550. However, in the parallel (black) market, which most individuals and businesses use, the rate is closer to ₦1,620–₦1,650 per dollar.

These rates fluctuate daily based on factors such as foreign exchange reserves, inflation, oil prices, and demand for USD in Nigeria’s forex market.

Money transfer apps like Wise or Remitly use mid-market rates, which are usually more favorable than bank exchange rates, though still slightly lower than black-market rates.

It’s always advisable to check real-time exchange rates on trusted financial platforms before making a transaction, as even small fluctuations can impact large transfers.

How do I avoid currency exchange fees?

Avoiding currency exchange fees requires choosing transparent platforms and multi-currency tools that minimize hidden charges. The best ways include using Wise, Revolut, or multi-currency accounts instead of banks or traditional remittance providers.

Most banks and money transfer services make profits by offering worse exchange rates than the market average. For example, they may advertise “no fees,” but they’ll give you ₦1,520 per dollar instead of ₦1,600 — a hidden cost that adds up.

With Wise or Revolut, you get the mid-market rate, meaning no inflated markups. Both apps also let you hold and spend money in different currencies, reducing the need for constant conversions.

Another method is to avoid exchanging money physically at airports or local bureaus, which often charge high commissions. Instead, use online transfers or digital banking platforms.

Frequent travelers and freelancers can open multi-currency accounts, allowing them to receive payments in foreign currencies without converting immediately — saving a lot on exchange losses.

In short, the key to avoiding exchange fees is to use transparent digital financial platforms that show you exactly what you’re paying, use real-time market rates, and eliminate unnecessary conversions.

How much does Western Union charge to send 400 dollars?

The cost of sending $400 through Western Union depends on several factors, including the destination country, payment method, delivery speed, and currency exchange rate.

On average, Western Union’s transfer fees for $400 can range between $5 and $35, depending on how you choose to send and how the recipient receives the funds.

If you fund the transfer using a bank account, the fee is generally lower — around $5 to $10 for many countries. However, when you pay using a credit or debit card, the fee can rise to $15 to $25, because of the processing costs charged by card networks.

The delivery method also affects the total cost. Sending $400 for cash pickup at an agent location is usually more expensive than transferring directly to a bank account or mobile wallet. Cash pickups are often instant, but they attract higher service fees because they rely on Western Union’s vast agent network.

Let’s take an example:

• Sending $400 from the U.S. to Nigeria for a cash pickup may cost around $12–$20, while sending to a bank account could cost $5–$10.

• Sending $400 from the U.K. to India might only cost £1.99–£4.99, depending on the payment type and delivery speed.

It’s also important to note that Western Union earns additional revenue through exchange rate margins.

This means that while the transfer fee might seem low, the exchange rate you receive may be slightly less favorable than the mid-market rate.

For instance, if the mid-market rate is ₦1,600 per dollar, Western Union might offer ₦1,570 — effectively taking ₦30 per dollar as an indirect fee.

Users can check the exact fee and exchange rate using the Western Union website or mobile app before sending money. The platform’s calculator tool provides transparency, showing the full breakdown of fees, transfer times, and the total amount the recipient will receive.

To save money, it’s best to use bank funding instead of cards and choose standard delivery if you’re not in a rush. Additionally, some Western Union promotions or loyalty programs occasionally offer fee discounts for returning customers.

In summary, Western Union’s cost to send $400 varies by method and country, but using bank-to-bank transfers and slower delivery options generally provides the lowest total fees.

Which bank has the lowest international transfer fee?

When it comes to international bank transfers, the fees can vary widely across banks. However, as of 2025, some banks are known for offering lower-than-average international transfer fees, competitive exchange rates, and faster processing times.

These include HSBC, Citibank, Revolut Bank, and Wise (as a digital bank alternative).

HSBC is one of the best traditional banks for international transfers, especially for customers with multi-currency or global accounts. It offers free or discounted transfers between HSBC accounts in different countries, which is ideal for expatriates or frequent travelers.

Citibank is another strong option, providing zero or low-fee transfers between Citibank branches worldwide. Its Global Transfer service allows customers to move funds across borders instantly, with little to no fee when both sender and receiver have Citibank accounts.

However, traditional banks often can’t compete with digital-first banks like Revolut and Wise, which function like modern financial institutions with global capabilities.

Revolut offers free international transfers up to a certain monthly limit for its standard users, with small fees thereafter. Premium users enjoy unlimited transfers at the real exchange rate. This makes Revolut highly attractive for individuals who frequently send money abroad or travel often.

Wise, although technically not a traditional bank, operates under banking regulations and is widely regarded as the cheapest option for global payments. It provides transfers at the mid-market rate, with fees as low as 0.5%, significantly cheaper than the typical 3–7% markups used by banks.

For Nigerian users, local banks such as Access Bank, GTBank, and UBA charge higher fees (typically $10–$25 per transfer) for international transactions. However, transfers between partner institutions or domiciliary accounts can be cheaper if done strategically.

In summary, the banks with the lowest international transfer fees are:

• Wise (for transparent, digital transfers)

• Revolut Bank (for multi-currency transfers and travelers)

• Citibank (for global account holders)

• HSBC (for premium customers with international accounts)

To minimize costs, always compare exchange rates, use online banking portals instead of in-branch services, and, where possible, transfer within the same global banking network to avoid intermediary charges.