Many Nigerians relocate to the United Kingdom every year, seeking opportunities to advance their careers or start new ones. Moving to a new country involves managing finances in a different currency, which brings up numerous questions about spending and saving wisely. One of the most pressing concerns for Nigerian expats is how to send money from the UK to Nigeria.
Not in the UK? Learn how to send money from Europe to Nigeria.
Key considerations for sending money from the UK to Nigeria
Popular methods for sending money from the UK to Nigeria
Comparing top money transfer services
The best app to send money from the UK to Nigeria
Key considerations for sending money from the UK to Nigeria
International money transfers can be complex, and finding the best way to send money from the UK to Nigeria involves considering several factors:
Pricing: How much does the service charge for each transfer?
Exchange rate: What rate does the service offer for converting GBP to NGN?
Security: How secure is the transfer process?
Speed: How quickly will the money reach Nigeria?
Customer-friendliness: How easy is the service to use?
Popular methods for sending money from the UK to Nigeria
There are several ways to send money from the UK to Nigeria, each with its own advantages and disadvantages:
Bank transfers: Safe but slow and costly, often charging hidden fees.
Cryptocurrency: Fast but risky and requires familiarity with digital currencies.
Online money transfer services: Increasingly popular due to their convenience and competitive rates.
We recommend using services and apps to send money from the UK to Nigeria since they offer some of the most favourable remittance terms. Today, we’re comparing Profee, Instarem, Western Union, and WorldRemit services for transfers from the UK to Nigeria.
Comparing top money transfer services
Before we compare the numbers, we suggest you take a look at the offers as of July 8 from the companies we’re reviewing today. You’ll find our commentary and table comparisons below.
Profee
WorldRemit
Instarem
Western Union
Now, let’s see what the numbers say. What is the best service for transferring money from the UK to a Nigerian bank account?
| Profee | WorldRemit | Instarem | Western Union | |
|---|---|---|---|---|
| Fees | 0% fees on your transfers from the UK to Nigeria | No information on fees | No fee on your first remittance | No fee on your first remittance to a bank account or mobile wallet |
| Exchange rate | GBP 1 = NGN 1,955.945 | GBP 1 = NGN 1897.8005 | 1 GBP = 1897.8325 NGN | 1.00 GBP = 1,937.1862 NGN |
| 200 GBP equals | 391,189 NGN | 379566.00 NGN | 379,560.10 NGN | 387,437.23NGN |
| Delivery speed | Arrives within minutes | Not stated | Not stated | Same banking day |
The numbers in the table reflect the companies’ offers as of July 8, 2024.
Judging from the comparison, Profee offers the cheapest way to send money from the UK to Nigeria.
Fees: Some companies lack transparency in terms of fees, making you wonder whether hidden costs will be involved. Profee stands out as the company with the most beneficial fee offer—0% commission on all transfers to Nigeria. The best money transfer to Nigeria from the UK is a zero-fee one, and Profee doesn’t fail to deliver.
Exchange rates: Currency exchange rates significantly influence the total amount your recipient will get when you remit from the UK to Nigeria. Suppose you’re sending 200 GBP to your loved ones. With Profee, you’ll get the most value for your funds.
Speed: How fast your transfer from the UK to Nigeria gets delivered matters a lot. That’s another sign of how transparent a company is. As you can see, two out of four services in today’s review don’t state the delivery speed. That means you can’t be sure when your family gets the funds when transferring money from the UK to a Nigerian bank account.
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The best app to send money from the UK to Nigeria
After reviewing the four apps to send money from the UK to Nigeria, it’s clear Profee is the most beneficial one. So, how do you make a Profee remittance?
- Visit the Profee website or download the app;
- Type in the sending amount in the online calculator;
- Enter your recipient’s bank account details;
- Select your payment method;
- Double-check and confirm. It’s that easy!
Summing up, here are some main benefits of using Profee:
- No fees on all transfers from the UK to Nigeria;
- Always competitive exchange rates, with your first remittance being processed at a promo GBP-NGN rate;
- Your recipient doesn’t have to be a Profee client to get the transfer — no more worrying about how to receive money from the UK to Nigeria;
- Sending money from the UK to Nigeria is fast — funds arrive within minutes;
- Profee is a licensed, 100% secure company protecting your data and money online 24/7.
- Fast registration done online — no need to leave your house and deal with unnecessary paperwork;
- Our intuitive, easy-to-navigate interface guides you throughout the process;
- You can transfer to 65+ countries worldwide.
Choosing the best transfer service requires considering various factors, including cost, exchange rates, speed, security, and ease of use. While there are many options available, Profee offers a compelling combination of low fees, competitive exchange rates, fast transfers, and robust security measures. Support your loved ones hassle-free today.
