Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From NGNigeria you can also send money to

Sending money from NIGERIA to TOGO

Data collected on: Oct 28, 2020
NGN | 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 (NGN)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.
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6,500.0032.50
0.32
Percentage difference between market reference rate 1.47 and exchange rate charged 1.46
0.32
16.5716.57
6,628.0033.14
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
5,912.5029.56
3.74
Percentage difference between market reference rate 1.47 and exchange rate charged 1.41
3.74
18.5218.52
7,408.0037.04
Total Average Fourth Quarter 2020
17.5517.55
Total Average Third Quarter 2020
17.3517.35
Total Average
Fee
6,206.2531.03
Exchange Rate Margin (%)
2.032.03
Total Cost Percent (%)
17.5517.55
Total Cost (NGN) Total Cost (USD)
7,018.0035.09
Non-Transparent records
Bank account transfer Cash
Less than one hour
Cash
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
5,912.5029.56
3.74
Percentage difference between market reference rate 1.47 and exchange rate charged 1.41
3.74
9.659.65
9,650.0048.25
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
13,000.0065.00
0.32
Percentage difference between market reference rate 1.47 and exchange rate charged 1.46
0.32
13.3213.32
13,320.0066.60
Total Average Fourth Quarter 2020
11.4911.49
Total Average Third Quarter 2020
11.4711.47
Total Average
Fee
9,456.2547.28
Exchange Rate Margin (%)
2.032.03
Total Cost Percent (%)
11.4911.49
Total Cost (NGN) Total Cost (USD)
11,485.0057.43
Non-Transparent records
Bank account transfer Cash
Less than one hour
Cash
Least Costly Corridors To Togo
Least Costly Corridors From Nigeria