Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Sending money from GERMANY to NIGERIA

Data collected on: Oct 29, 2020
EUR | USD
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
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)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.905.57
2.89
Percentage difference between market reference rate 445.79 and exchange rate charged 432.91
2.89
5.675.67
7.9411.34
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
9.3013.29
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
8.848.84
12.3817.69
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.901.29
2.13
Percentage difference between market reference rate 445.79 and exchange rate charged 436.29
2.13
2.772.77
3.885.54
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.70
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
5.045.04
7.0610.09
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6.909.86
3.16
Percentage difference between market reference rate 445.79 and exchange rate charged 431.69
3.16
8.098.09
11.3316.19
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
2.192.19
3.074.39
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.904.14
1.88
Percentage difference between market reference rate 445.79 and exchange rate charged 437.42
1.88
3.953.95
5.537.90
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
0.42
Percentage difference between market reference rate 445.79 and exchange rate charged 443.91
0.42
0.420.42
0.590.84
Postbank via Western Union
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
19.9028.43
3.16
Percentage difference between market reference rate 445.79 and exchange rate charged 431.69
3.16
17.3817.38
24.3334.76
Ria
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
10.0014.29
1.23
Percentage difference between market reference rate 445.79 and exchange rate charged 440.32
1.23
8.378.37
11.7216.74
Small World
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
1.492.13
0.11
Percentage difference between market reference rate 445.79 and exchange rate charged 445.29
0.11
1.181.18
1.652.36
Transferwise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.672.39
0.19
Percentage difference between market reference rate 445.79 and exchange rate charged 444.94
0.19
1.381.38
1.932.76
ATL Money Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
5.608.00
1.30
Percentage difference between market reference rate 445.79 and exchange rate charged 440.00
1.30
5.305.30
7.4210.60
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
9.4013.43
2.89
Percentage difference between market reference rate 445.79 and exchange rate charged 432.91
2.89
9.609.60
13.4419.20
Azimo
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.992.84
0.51
Percentage difference between market reference rate 445.79 and exchange rate charged 443.52
0.51
1.931.93
2.703.86
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.
Postbank
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.502.14
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
1.071.07
1.502.14
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.
Postbank
Firm type: Post office
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Receiving method
Medium
8.5012.14
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
6.076.07
8.5012.14
Total Average Fourth Quarter 2020
5.255.25
Total Average Third Quarter 2020
7.487.48
Total Average
Fee
5.177.39
Exchange Rate Margin (%)
1.561.56
Total Cost Percent (%)
5.255.25
Total Cost (EUR) Total Cost (USD)
7.3510.50
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
0.42
Percentage difference between market reference rate 445.79 and exchange rate charged 443.91
0.42
0.420.42
1.452.10
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
2.192.19
7.5610.96
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.901.30
2.13
Percentage difference between market reference rate 445.79 and exchange rate charged 436.29
2.13
2.392.39
8.2511.96
Azimo
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.992.88
0.51
Percentage difference between market reference rate 445.79 and exchange rate charged 443.52
0.51
1.091.09
3.765.45
Small World
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
2.493.61
0.11
Percentage difference between market reference rate 445.79 and exchange rate charged 445.29
0.11
0.830.83
2.864.14
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.904.20
1.88
Percentage difference between market reference rate 445.79 and exchange rate charged 437.42
1.88
2.722.72
9.3813.59
Transferwise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
3.044.41
0.19
Percentage difference between market reference rate 445.79 and exchange rate charged 444.94
0.19
1.071.07
3.695.35
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.905.65
2.89
Percentage difference between market reference rate 445.79 and exchange rate charged 432.91
2.89
4.024.02
13.8720.10
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.78
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
3.353.35
11.5616.75
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6.9010.00
3.16
Percentage difference between market reference rate 445.79 and exchange rate charged 431.69
3.16
5.165.16
17.8025.80
ATL Money Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
13.6019.71
1.30
Percentage difference between market reference rate 445.79 and exchange rate charged 440.00
1.30
5.245.24
18.0826.20
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
14.8021.45
2.19
Percentage difference between market reference rate 445.79 and exchange rate charged 436.01
2.19
6.486.48
22.3632.41
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
14.9021.59
2.89
Percentage difference between market reference rate 445.79 and exchange rate charged 432.91
2.89
7.217.21
24.8736.04
Ria
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
18.0026.09
1.23
Percentage difference between market reference rate 445.79 and exchange rate charged 440.32
1.23
6.446.44
22.2232.20
Postbank via Western Union
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
29.9043.33
3.16
Percentage difference between market reference rate 445.79 and exchange rate charged 431.69
3.16
11.8311.83
40.8159.14
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.
Postbank
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.502.17
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.430.43
1.482.14
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.
Postbank
Firm type: Post office
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Receiving method
Medium
8.5012.32
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
2.462.46
8.4912.30
Total Average Fourth Quarter 2020
3.733.73
Total Average Third Quarter 2020
5.985.98
Total Average
Fee
7.4910.85
Exchange Rate Margin (%)
1.561.56
Total Cost Percent (%)
3.733.73
Total Cost (EUR) Total Cost (USD)
12.8518.63
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash Mobile wallet