What’s the Best Way to Send Money From Canada to Nigeria?

When sending money from Canada to Nigeria, there are several reliable methods you can use. Here are some of the best ways to send money:

1. Bank Transfer: You can initiate an international bank transfer from your Canadian bank account to a Nigerian bank account. Contact your bank to inquire about their process, fees, and exchange rates for international transfers. Ensure that you have all the necessary details of the recipient’s bank account, including the bank name, account number, and SWIFT/BIC code.
2. Online Money Transfer Services: There are various online money transfer services that allow you to send money from Canada to Nigeria. Some popular options include TransferWise, WorldRemit, Remitly, and Xoom. These services often offer competitive exchange rates and lower fees compared to traditional banks. You can set up an account, provide the recipient’s details, and transfer the money online.
3. PayPal: PayPal is widely accepted in both Canada and Nigeria. If you and the recipient have PayPal accounts, you can send money directly to their account. However, note that PayPal’s fees for international transfers can be relatively high, and the exchange rates may not be as favorable.
4. Mobile Money Transfer: Some mobile money transfer services, such as Paga and PocketMoni in Nigeria, allow you to send money from Canada to Nigeria. These services are particularly useful if the recipient does not have a bank account but has a mobile money wallet. Check the availability and fees of these services before proceeding.

Before choosing a method, consider factors such as exchange rates, fees, speed of transfer, and convenience. It’s also essential to verify the credibility and security of the service or platform you choose. Always double-check the recipient’s details to ensure accuracy before initiating any transfer.