When sending money from Ireland to Nigeria, finding a service that offers the best combination of low fees, favourable exchange rates, and fast transfer times is crucial. In this article, we compare the top money transfer services — Profee, Revolut, WorldRemit, and Paysend — to determine which option is the most advantageous for users.
A personal story: Chinedu’s journey
Revolut: higher fees and slower transfers
WorldRemit: competitive rates but slower transfers
Profee: the best balance of speed and competitive exchange rates
Paysend: highest exchange rate but slower transfers
Conclusion: Profee as the best option for transfers from Ireland to Nigeria
A personal story: Chinedu’s journey
Chinedu, a 34-year-old from Lagos, moved to Ireland two years ago to take up a job as a mechanical engineer in Dublin. While he enjoys his new life in Ireland, his heart remains with his elderly parents, who still live in Nigeria. Chinedu’s father retired several years ago, and his mother recently experienced health issues, requiring frequent medical care.
Like many Nigerians living abroad, Chinedu wanted to provide financial support to his family, ensuring that his parents could access the best possible care. He knew that sending money regularly would be necessary, and so he began looking for a reliable and affordable service that would allow him to send money to Nigeria without any hassles.
For Chinedu, the key factors were fast registration, quick transfers, and favourable exchange rates. He compared several money transfer services to find the one that best fit his needs.
Revolut: higher fees and slower transfers
Revolut is widely recognised for its international money transfer services, but when it comes to sending money to Nigeria, Chinedu found it less appealing.
Key metrics:
- Fee: €3
- Exchange rate: 1 EUR = 1,080.73 NGN
- Transfer time: 1 business day
Analysis: Revolut charges a relatively high fee of €3, and its exchange rate (1,080.73 NGN per Euro) was the least favourable. Moreover, the 1-business-day transfer time wasn’t ideal for Chinedu, who wanted his parents to receive the money quickly. This made Revolut one of the less attractive options for him.
WorldRemit: competitive rates but slower transfers
WorldRemit offers various payout options, including mobile money and cash pickups, but Chinedu found the service to be less predictable in terms of transfer time.
Key metrics:
- Fee: €0
- Exchange rate: 1 EUR = 1,771.76 NGN
- Transfer time: Within 2 working days
Analysis: WorldRemit’s zero-fee transfer option was appealing, but the exchange rate of 1,771.76 NGN per Euro didn’t offer as much value as Chinedu hoped for. The 2-working-day transfer time was also a drawback, as he preferred his parents to have the funds sooner.
Profee: the best balance of speed and competitive exchange rates
When Chinedu discovered Profee, he was impressed by how easy it was to set up an account. The registration process was straightforward, and he was able to start sending money almost immediately.
Key Metrics:
- Fee: €0
- Exchange rate: 1 EUR = 1,792.85 NGN
- Transfer time: A few minutes
Analysis: Profee’s zero-commission offer was perfect for Chinedu, especially since he wanted to test the service before committing long-term. The exchange rate of 1,792.85 NGN per Euro was also one of the best he found, ensuring his parents received as much as possible. What stood out the most was the transfer speed — the funds arrived within minutes, giving him peace of mind that his parents could access the money quickly.
Paysend: highest exchange rate but slower transfers
Chinedu also considered Paysend, which offered the best exchange rate but wasn’t as fast as he needed.
Key Metrics:
- Fee: €0
- Exchange rate: 1 EUR = 1,831.90 NGN
- Transfer time: 1 business day
Analysis: Paysend’s exchange rate of 1,831.90 NGN per Euro was the highest among all the services, which initially caught Chinedu’s attention. However, the 1-business-day transfer time was a disadvantage compared to Profee’s instant transfers. Given his parents’ needs, Chinedu ultimately decided that speed was more important than a slightly better exchange rate.
Conclusion: Profee as the best option for transfers from Ireland to Nigeria
After thoroughly comparing the different services, Chinedu concluded that Profee was the best option for him. With its 0% commission, competitive exchange rates, and near-instant transfers, Profee provided the perfect balance between affordability, speed, and convenience. While Paysend offered the highest exchange rate, its longer transfer time wasn’t suitable for Chinedu’s urgent needs. WorldRemit and Revolut provided reliable services, but their slower transfer times and less favourable rates put them lower on the list.
For Chinedu, who wanted a fast, hassle-free way to support his parents in Nigeria, Profee emerged as the safest, most convenient, and cost-effective choice.
