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Fastest and Cheapest Ways to Send Money to Nigeria in 2022

Finding fast and cheap ways to send money to Nigeria can be such a headache; honestly, it’s like going around in circles. We are constantly researching ways to get paid because they can’t receive money from popular transfer services like Paypal, or Paysend– they can only send money out of Nigeria.

Many payment services claim to be the cheapest and fastest way to send money to Nigeria, but this is not true. Either the payment platform isn’t available for the country you want to receive money from, or it’s ridiculously expensive.

Another problem is the speed, payment services that allow Nigerians to receive money from other countries, especially directly into your bank account take too long- some take as long as an entire business day.

In this article, I’ll help you choose the fastest and cheapest payment method to receive money in Nigeria from anywhere in the world.

What Are the Best Ways to Send Money to Nigeria in 2022?

Before you select a payment method, here are some things you need to consider: 

Direct Payment (Bank Account)

Do you want to receive money from abroad instantly into your bank account? Here are your best options.

1. Azimo

It is one of the quickest and least expensive ways to send money into a Nigerian bank account. It has a  pickup time of 30 minutes to 1 hour and charges £0.49 per transaction.

You can track your transfer on the app to see when your money is delivered to the recipient. It also enables SWIFT transfers and cash pick-ups- the recipient can pick up the cash at their bank or have it transferred to their Domiciliary account.

Supported Banks: Zenith, UBA, Fidelity, FCMB, and Polaris.

2. Remitly

Remitly allows direct bank deposits and cash pick-up for Nigerians. All you need to do is send your account details to the sender and you’ll get paid. Also, you don’t need a Remitly account to get paid with Remitly; only your send does.

3. Domiciliary Account

Most Nigerian banks allow you to open a domiciliary account with them and receive funds in a specific foreign currency. For example, if you open a USD domiciliary account, you can only receive US dollars with that account. You can also get Foreign accounts on apps like Wise and Payoneer.

4. WorldRemit

WorldRemit allows you to receive cash payments as well as direct bank deposits from anywhere in the world. If your sender uses WorldRemit, you should have your money in your bank account within minutes.

5. Send by FlutterWave

Flutterwave launched Send in 2021 to help Africans get paid seamlessly. You can receive money from over 30 countries in barter accounts, mobile money wallets, bank accounts, and even cash pick-up locations. Another upside to using Send is that it uses parallel market rates.

Best Rates ( Parallel Market Rates)

1. Lemonade Finance

It’s an app that allows Nigerians to receive money directly into their bank accounts from the UK and Canada. It has one of the best exchange rates, little or no transfer fees, and is extremely fast.

You can also send money from Nigeria to your friends and family abroad with Lemonade Finance. It’s also available in Kenya and Ghana. Click here to download the app.

2. Afriex

You can receive payments from Canada, USA Ghana, Kenya, and Nigeria on Afriex. You can also send payment from any of the supported countries. The best part about receiving money on Afriex is its low withdrawal fee of 1% and it uses the parallel market rate.

3. Sendcash

You can create a custom link on the platform to receive payment directly into your account or a virtual USD account. Sendcash uses the parallel market exchange rate and is completely free if you use Bitcoin. But, if you choose wire transfer, it will cost you 1% of the amount you want to send. Learn more about sendcash here

Related: Binance vs Coinbase: Which Trading Platform Is Better?

4. Grey

You’ll need to complete your KYC and you’ll get a free foreign account for GBP, Euros, and Dollars. You can also swap to any currency on your Grey account with the best rate. When withdrawing to your NGN bank account, Grey uses the current parallel market rate and charges a withdrawal fee of just N35.

Find out more about transfer and withdrawal fees for foreign currency here.

Geographical Location

There’s an abundance of options to receive money from the US, UK & Canada. But when you need to send or receive countries other than these, you’ll find yourself researching different ways to do it.

Secure payment gateways are the best option for receiving global payments. Simply create a payment link, and the sender can securely pay you using debit/credit cards from anywhere in the world.

As long as they have a valid debit/credit card, they can send you money. If they don’t have a card, they can create a virtual card within minutes, fund it and pay you.

Recommendations: Paystack, Selar, VoguePay, Remita, PayU

Chipper Cash, Wirepay, Chagera,  and EverSend are great options to receive money from other African Countries with low fees.

Payment Type (Business or Personal)

Another important factor to consider is whether you want to be compensated for services/goods, receive a salary, or a gift.

Payment gateways like Selar, VoguePay, Paystack, Flutterwave, etc are better options for receiving payments for goods/services because of their speed and versatility.

If you’re receiving personal payments from friends and family abroad, you’d want to go for the options that give you the best rate and not necessarily the fastest. 

RecommendationsLemonade Finance, Send, Afriex, Chipper Cash, and Grey

If you work remotely for a foreign company, the best option is a domiciliary account, which allows you to be paid directly into your bank account. But if you’re a freelancer, a customized payment link is a better option.

Other Factors


Most platforms tell you upfront how long it takes to receive your money, some time takes as long as 1-3 business days while some takes hours. You should ask yourself how fast you need your money before choosing a payment method. 

Transfer fees

Most platforms charge a certain percentage of the amount, but some platform charges are ridiculously high. The faster the payment option, the higher the transfer fee for most international payment services. Always double-check the transfer fees to ensure there are no hidden fees. 

Frequently Asked Questions

Can Zelle send money to Nigeria?

No, You can’t send money to Nigeria with Zelle, because it’s only available to US citizens.

Can I Use Cash App in Nigeria?

No, Cash App isn’t accessible to Nigerians

Can I Use Venmo in Nigeria?

No, Venmo services aren’t available to Nigerians.

Bottom Line: Best Ways to Send Money to Nigeria

Irrespective of where you want to receive money from, there’s a fast and affordable option for you. Figure out what’s most important to you —speed, low fees, high rates, availability in the country you want, and choose based on that.

Related: Paystack vs Flutterwave: Which should I use?

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