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If you need to send money to Nigeria - whatever the reason and whatever the amounts involved - you need to be assured that you'll get the best deal.
Sending money to Nigeria from the UK using a money transfer service appears to tick all the boxes regarding security and speed; but, how do you pick the best one for you?
Money transfer prices take into account the amount you want to transfer and two costs that apply to all providers - the provider's fees and charges, and exchange rates.
Rather than set out their charges individually, providers pool their costs together as a total charge that is added to the sum you want to transfer, making it fairly straightforward to compare packages based on their overall price.
However, as the providers themselves don't necessarily know the exact exchange rate you'll get, you still need to consider a range of features to get the best deal.
Many money transfer services that transfer money to Nigeria from the UK will offer discounted rates and fees if you want to transfer a larger sum, for example £5,000 or more.
Qualifying for these reduced rates could make the overall cost of your money transfer better than that of other packages, so you should compare the thresholds of providers' best deals to see if your money transfer is eligible.
It will also show you if sending one large money transfer to Nigeria will be more cost effective than sending several smaller amounts.
You should consider how quickly you need the transfer to arrive, with money transfers typically taking 3-5 working days. If you are short on time, some providers offer a next day service for an additional fee, often charged separately from the overall package price.
Finally, you'll need to check whether each provider can put through your transfer in a way that suits your circumstances - either online, by phone or via a broker.
This makes a difference to how they take your payment and how it can be accessed from Nigeria, so you should use a provider that fits in with your needs.
If you take into account the service offered as well as your needs and your timeframe, you'll be able to use our Nigeria money transfer comparison table to compare cheap rates for money transfersand make sure you get the best deal.
Whatever your reason for sending money abroad, choosing the money transfer service that gives you the best price will help you save. We look at the best way to transfer money overseas.
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