Money transfer apps are currently a big trend. They make sending money online to Nigeria convenient and efficient, but the wide range of choices may often be overwhelming. We wrote this article about the best money transfer apps to save time and energy. Scroll down and explore the world of international money transfer services.
An overview of the remittances to Nigeria
Why you should use money transfer apps
Instarem app
Remitly app
Western Union app
Alternative — Profee app
An overview of the remittances to Nigeria
Around 17 million Nigerians live abroad and send money back home to support their families, help friends, invest in currency or in businesses. Nigerians look for jobs in France, get temporary work visas in Italy, and move to other European countries. The size of the overseas diaspora makes Nigeria one of Africa's largest recipients of remittances. If you need more concrete numbers, the amount of personal remittances to Nigeria from other countries reached 19 billion dollars in 2023.
Remittances truly help Nigerian families handle extremely important needs such as food, education, healthcare, and housing. They also vigorously promote financial inclusion and offer important capital to small businesses, especially in rural areas where typical banking options are limited. That’s why it’s important for every Nigerian involved to find the best money transfer to Nigeria.
Each Nigerian who has sent funds back home is constantly searching for the best international money transfer app. However, with so many apps available to send money, finding the perfect match may take a while. This article aims to ease your decision-making process.
Why you should use money transfer apps
Some people are still cautious about downloading apps to send money. And let’s be honest, they have all the right to feel so, as there are certain transfer scam schemes out there. But being cautious doesn’t mean avoiding money transfer apps altogether. Once you find the safest money transfer app, you’ll enjoy:
Convenience
You’ll be able to complete a transfer at home, during a lunch break or while on a bus. All you need for a successful transfer is Internet access. Imagine how nice it’ll feel to brew a cup of coffee, turn on your favourite YouTube show and send funds while waiting for the ad on the video to end.
Speed
The best money transfer apps offer fast services; money arrives in a span of several minutes. Plus, avoiding queues saves you time. It's much more convenient than traditional methods like bank transfers. And you don't have to spend hours understanding how the system works (shoutout to cryptocurrency).
Security
The safest money transfer apps care a lot about the security of your data and funds. Companies follow strict guidelines and regulations and must obtain an official licence to offer financial services.
If you've never tried sending money online before, this is a good opportunity to improve the quality of your everyday life. Let's review some of the best money transfer apps, including Profee, Instarem, Remitly, and WesternUnion.
Instarem app
We're starting our international money transfer comparison with the company founded in 2014. With more than 10 years on the market, thousands of expats have tried the service.
Instarem has a 4.1/5 rating on Trustpilot. Let’s summarise the reviews:
Pros:
Overall, clients are happy with the service; some even call it the best money transfer app. The application itself is client-friendly; however, there are several things we should consider.
Cons:
Some clients experience problems logging in to the app. If you forget your password, it's almost impossible to change it, as the reset link is not being sent correctly. Unfortunately, forgetting your password is a universal experience, so we'd like to avoid having trouble resetting our account data.
To transfer more, clients need to provide additional documents and prove their identity. This is a normal procedure in the industry, but the Instarem app complicates it. Some people face challenges when their documents are not updated for more than 24 hours. So, if you need to transfer fast, Instarem may not be the best money transfer app.
Some clients experienced serious issues with the app's security, as their data was stolen and used for fraudulent transactions. The company could not stop sending funds or delete the card details.
The service satisfies most clients, but some cases show that there is a room for improvement.
Remitly app
The next contestant in our international money transfer comparison is a company that offers remittances to over 170 destinations. That sounds impressive from the very beginning. Let's see whether Remitly is the best app for sending money internationally.
The review score on Trustpilot is 4,6/5, which is better than Instarem. Here are some pros and cons of the service that we found.
Pros:
Remitly customers are satisfied with the speed of the transfers as they can arrive even before the expected date. Moreover, the app is easy to use, and people can send funds hassle-free. Some admit that they had the best international money transfer experience with Remitly. But what are the hidden disadvantages?
Cons:
The app glitched and sent money to the wrong African bank. With such mistakes Remitly is not providing the best money transfer to Nigeria, for sure. This situation may result in weeks of nerve-racking chatting and calls.
Other expats share that their Remitly app accounts are being banned for no reason. This frustrates loyal customers who were already using Remetly but had to search for new apps to send money.
Some clients admit that the information displayed on the app and the real fees for the transfer didn’t match. Always double-check the terms and conditions to complete the best international money transfer.
Western Union app
We’re looking for the best app to send money internationally, so let’s check what Western Union has to offer.
The app is rated 4.3/5 on Trustpilot.
Pros:
- Option to track your transfer;
- Speed;
- Great customer service.
Reviewers are satisfied with the friendly staff and the simplicity of completing transfers. Is it the best online money transfer service, though?
Cons:
Sometimes money transfers are not working without a clear reason. If you want to send the best money transfer to Nigeria, Western Union may not be for you.
Some customers don’t find Western Union a trustworthy company and prefer other services for the best online money transfer.
Clients are not satisfied with Western Union's fee policy.
The app is safe and up-to-date, as you can use one-touch fingerprint logins, scan your cards, and track the transfer. But the service itself has certain disadvantages that one would like to avoide when using the best international money transfer app.
Alternative — Profee app
We had a short comparison of some of the best money transfer apps. But what are other, more attractive options? Let’s have a look at the Profee app.
We score 4.4/5 on Trustpilot, and 81% of the reviews are five stars. Clients especially enjoy that:
- Transfers are finished faster than with other services;
- The information on the app is transparent and honest;
- The application is easy to use.
Customers are pleased with our app's experience. It provides reliable, fast, and secure transfers, and it can be considered one of the best money transfer apps.
Besides the convenience of the application, at Profee we offer unmatched exchange rates for the best money transfers to Nigeria. For your information, finding a beneficial remittance service is among the budgeting tips for expats from Africa. So don't underestimate its importance!
Try sending funds quickly and safely today with Profee.
Conclusion
This article compared the best money transfer apps and international money transfer services, such as Instarem, Remitly, Western Union, and Profee. These platforms are trusted by expats all over the world. However, among all the apps to send money, Profee stands out as a smooth and pleasant option. Our app is not misleading and is very easy to use. Moreover, Profee has unmatched exchange rates, low transfer fees, and fast processing. That's why expats who regularly send money to Nigeria love Profee. Additionally, we prioritise security, ensuring that every transaction is protected.
