Remittance Prices Worldwide

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Transfer money

Sending money from GERMANY to NIGERIA

Data collected on: Mar 24, 2021
EUR | USD
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (EUR)sort descendingTotal cost (USD)sort descending
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Firm
Azimo
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
1.992.84
Exchange rate margin (%)
0.26
Percentage difference between market reference rate 1.18 and exchange rate charged 1.180.26
Total cost (%)
1.681.68
Total cost (EUR)sort descendingTotal cost (USD)sort descending
2.353.36
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.991.41
Exchange rate margin (%)
1.79
Percentage difference between market reference rate 1.18 and exchange rate charged 1.161.79
Total cost (%)
2.492.49
Total cost (EUR)sort descendingTotal cost (USD)sort descending
3.494.99
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
0.690.99
Exchange rate margin (%)
2.48
Percentage difference between market reference rate 1.18 and exchange rate charged 1.152.48
Total cost (%)
2.972.97
Total cost (EUR)sort descendingTotal cost (USD)sort descending
4.165.94
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.995.70
Exchange rate margin (%)
1.10
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.10
Total cost (%)
3.953.95
Total cost (EUR)sort descendingTotal cost (USD)sort descending
5.537.90
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.905.57
Exchange rate margin (%)
1.32
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.32
Total cost (%)
4.114.11
Total cost (EUR)sort descendingTotal cost (USD)sort descending
5.758.21
Firm
Small World
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
1.492.13
Exchange rate margin (%)
3.35
Percentage difference between market reference rate 1.19 and exchange rate charged 1.153.35
Total cost (%)
4.424.42
Total cost (EUR)sort descendingTotal cost (USD)sort descending
6.198.84
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
9.3013.29
Exchange rate margin (%)
1.10
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.10
Total cost (%)
7.747.74
Total cost (EUR)sort descendingTotal cost (USD)sort descending
10.8415.49
Firm
Ria
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
10.0014.29
Exchange rate margin (%)
1.61
Percentage difference between market reference rate 1.18 and exchange rate charged 1.161.61
Total cost (%)
8.758.75
Total cost (EUR)sort descendingTotal cost (USD)sort descending
12.2517.50
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
6.909.86
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
10.7010.70
Total cost (EUR)sort descendingTotal cost (USD)sort descending
14.9821.40
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
9.4013.43
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
12.4912.49
Total cost (EUR)sort descendingTotal cost (USD)sort descending
17.4924.99
Firm
Postbank via Western Union
Firm type: Bank / Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
19.9028.43
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
19.9919.99
Total cost (EUR)sort descendingTotal cost (USD)sort descending
27.9939.99
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; In this corridor all RSPs send and payout in USD. Inbound transfers to Nigeria are only permitted in USD under the CBN Directive 2020. Remittance recipients may incur an additional cost (not shown here) if and when converting USD to NGN.
Postbank
Firm type: Post office
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
1.502.14
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
1.071.07
Total cost (EUR)sort descendingTotal cost (USD)sort descending
1.502.14
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; In this corridor all RSPs send and payout in USD. Inbound transfers to Nigeria are only permitted in USD under the CBN Directive 2020. Remittance recipients may incur an additional cost (not shown here) if and when converting USD to NGN.
Postbank
Firm type: Post office
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
8.5012.14
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
6.076.07
Total cost (EUR)sort descendingTotal cost (USD)sort descending
8.5012.14
Total Average First Quarter
7.217.21
Total Average Fourth Quarter 2020
5.475.47
Total Average
Fee
6.238.90
Exchange Rate Margin (%)
2.762.76
Total Cost Percent (%)
7.217.21
Total Cost (EUR) Total Cost (USD)
10.0914.42
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (EUR)sort descendingTotal cost (USD)sort descending
Firm
Azimo
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
1.992.88
Exchange rate margin (%)
0.26
Percentage difference between market reference rate 1.18 and exchange rate charged 1.180.26
Total cost (%)
0.830.83
Total cost (EUR)sort descendingTotal cost (USD)sort descending
2.864.14
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.991.43
Exchange rate margin (%)
1.79
Percentage difference between market reference rate 1.18 and exchange rate charged 1.161.79
Total cost (%)
2.072.07
Total cost (EUR)sort descendingTotal cost (USD)sort descending
7.1410.35
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.995.78
Exchange rate margin (%)
1.10
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.10
Total cost (%)
2.262.26
Total cost (EUR)sort descendingTotal cost (USD)sort descending
7.8011.30
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.905.65
Exchange rate margin (%)
1.32
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.32
Total cost (%)
2.452.45
Total cost (EUR)sort descendingTotal cost (USD)sort descending
8.4512.25
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
0.691.00
Exchange rate margin (%)
2.48
Percentage difference between market reference rate 1.18 and exchange rate charged 1.152.48
Total cost (%)
2.682.68
Total cost (EUR)sort descendingTotal cost (USD)sort descending
9.2513.41
Firm
Small World
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
2.493.61
Exchange rate margin (%)
3.35
Percentage difference between market reference rate 1.19 and exchange rate charged 1.153.35
Total cost (%)
4.074.07
Total cost (EUR)sort descendingTotal cost (USD)sort descending
14.0420.35
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
14.8021.45
Exchange rate margin (%)
1.10
Percentage difference between market reference rate 1.18 and exchange rate charged 1.171.10
Total cost (%)
5.395.39
Total cost (EUR)sort descendingTotal cost (USD)sort descending
18.6026.96
Firm
Ria
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
18.0026.09
Exchange rate margin (%)
1.61
Percentage difference between market reference rate 1.18 and exchange rate charged 1.161.61
Total cost (%)
6.836.83
Total cost (EUR)sort descendingTotal cost (USD)sort descending
23.5634.14
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
6.9010.00
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
7.787.78
Total cost (EUR)sort descendingTotal cost (USD)sort descending
26.8438.90
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
14.9021.59
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
10.0910.09
Total cost (EUR)sort descendingTotal cost (USD)sort descending
34.8150.45
Firm
Postbank via Western Union
Firm type: Bank / Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
29.9043.33
Exchange rate margin (%)
5.78
Percentage difference between market reference rate 1.18 and exchange rate charged 1.115.78
Total cost (%)
14.4414.44
Total cost (EUR)sort descendingTotal cost (USD)sort descending
49.8272.20
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; In this corridor all RSPs send and payout in USD. Inbound transfers to Nigeria are only permitted in USD under the CBN Directive 2020. Remittance recipients may incur an additional cost (not shown here) if and when converting USD to NGN.
Postbank
Firm type: Post office
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
1.502.17
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
0.430.43
Total cost (EUR)sort descendingTotal cost (USD)sort descending
1.482.14
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; In this corridor all RSPs send and payout in USD. Inbound transfers to Nigeria are only permitted in USD under the CBN Directive 2020. Remittance recipients may incur an additional cost (not shown here) if and when converting USD to NGN.
Postbank
Firm type: Post office
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
8.5012.32
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
2.462.46
Total cost (EUR)sort descendingTotal cost (USD)sort descending
8.4912.30
Total Average First Quarter
5.355.35
Total Average Fourth Quarter 2020
4.034.03
Total Average
Fee
8.9612.98
Exchange Rate Margin (%)
2.762.76
Total Cost Percent (%)
5.355.35
Total Cost (EUR) Total Cost (USD)
18.4726.77
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash
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