Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Sending money from GERMANY to NIGERIA

Data collected on: Sep 16, 2019
EUR | USD
Payment instrument
Access point
Sending network coverage
Receiving method
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
9.4013.43
6.85
Percentage difference between market reference rate 401.72 and exchange rate charged 374.19
6.85
13.5713.57
19.0027.14
Azimo
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.492.13
1.21
Percentage difference between market reference rate 401.72 and exchange rate charged 396.87
1.21
2.272.27
3.184.54
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
4.907.00
6.87
Percentage difference between market reference rate 401.72 and exchange rate charged 374.12
6.87
10.3710.37
14.5220.74
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
12.0017.14
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
13.5113.51
18.9127.01
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
2.904.14
4.84
Percentage difference between market reference rate 401.72 and exchange rate charged 382.27
4.84
6.916.91
9.6713.81
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.70
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
7.797.79
10.9115.59
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6.909.86
6.13
Percentage difference between market reference rate 401.72 and exchange rate charged 377.08
6.13
11.0611.06
15.4822.11
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.70
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
7.797.79
10.9115.59
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
5.998.56
4.60
Percentage difference between market reference rate 401.72 and exchange rate charged 383.25
4.60
8.888.88
12.4317.76
Xpress Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
5.007.14
3.39
Percentage difference between market reference rate 401.72 and exchange rate charged 388.10
3.39
6.966.96
9.7413.91
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
7.34
Percentage difference between market reference rate 401.72 and exchange rate charged 372.23
7.34
21.5521.55
30.1743.10
Ria
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
10.0014.29
4.53
Percentage difference between market reference rate 401.72 and exchange rate charged 383.51
4.53
11.6811.68
16.3523.36
Small World
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
8.0011.43
4.68
Percentage difference between market reference rate 401.72 and exchange rate charged 382.93
4.68
10.3910.39
14.5520.79
Transferwise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.992.84
2.17
Percentage difference between market reference rate 401.72 and exchange rate charged 393.00
2.17
3.593.59
5.037.19
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 Third Quarter
8.978.97
Total Average Second Quarter
7.667.66
Total Average
Fee
6.659.50
Exchange Rate Margin (%)
4.214.21
Total Cost Percent (%)
8.978.97
Total Cost (EUR) Total Cost (USD)
12.5517.93
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
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
7.34
Percentage difference between market reference rate 401.72 and exchange rate charged 372.23
7.34
16.0116.01
55.2380.04
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
14.9021.59
6.85
Percentage difference between market reference rate 401.72 and exchange rate charged 374.19
6.85
11.1711.17
38.5455.86
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
19.0027.54
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
10.4410.44
36.0252.20
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
12.9018.70
6.38
Percentage difference between market reference rate 401.72 and exchange rate charged 376.08
6.38
10.1210.12
34.9150.59
Ria
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
18.0026.09
4.53
Percentage difference between market reference rate 401.72 and exchange rate charged 383.51
4.53
9.759.75
33.6448.75
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
12.9918.83
4.60
Percentage difference between market reference rate 401.72 and exchange rate charged 383.25
4.60
8.368.36
28.8441.80
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6.9010.00
6.13
Percentage difference between market reference rate 401.72 and exchange rate charged 377.08
6.13
8.138.13
28.0540.65
Small World
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
11.0015.94
4.68
Percentage difference between market reference rate 401.72 and exchange rate charged 382.93
4.68
7.867.86
27.1239.30
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.78
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
6.096.09
21.0130.45
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
3.995.78
4.94
Percentage difference between market reference rate 401.72 and exchange rate charged 381.89
4.94
6.096.09
21.0130.45
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
2.904.20
4.84
Percentage difference between market reference rate 401.72 and exchange rate charged 382.27
4.84
5.685.68
19.6028.41
Xpress Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6.008.70
3.39
Percentage difference between market reference rate 401.72 and exchange rate charged 388.10
3.39
5.135.13
17.7025.65
Transferwise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
3.855.58
2.17
Percentage difference between market reference rate 401.72 and exchange rate charged 393.00
2.17
3.293.29
11.3516.45
Azimo
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
1.492.16
1.21
Percentage difference between market reference rate 401.72 and exchange rate charged 396.87
1.21
1.641.64
5.668.20
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
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
Total Average Third Quarter
7.047.04
Total Average Second Quarter
6.006.00
Total Average
Fee
9.8614.29
Exchange Rate Margin (%)
4.184.18
Total Cost Percent (%)
7.047.04
Total Cost (EUR) Total Cost (USD)
24.2935.20
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