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NALA Review

NALA rates are not the most competitive and fees are not transparent.

NALA charges $0.99 and $5.99 per transfer and adds around 1.52% markup on top of the real exchange rate.

This means, that if you were to send $1,000 from the US to Kenya, you would be paying $18.69 in fees vs using a cheaper provider like Wise (costing $14.33 in fees) or $0 with WorldRemit mobile money transfer.

April Summers
Author 
April Summers
39 minutes
November 22nd, 2024
Nala
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Expert Rating
3.1/10
RATING BREAKDOWN

Scoring NALA

The key areas of our NALA review are the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

Before you choose whether to transfer funds overseas with NALA, here’s a quick summary of the benefits and drawbacks.

Pros
  • Large product offerings include money transfers, business transfers, bill payments, and “Buy Goods”
  • NALA specializes in money transfers to East Africa from the EU, the UK, and the US. This gives them an edge to focus on better rates and lower fees for specific transfer routes.
  • NALA is partnered with Remitly and Sendwave to facilitate their transfers, giving them larger coverage.
Cons
  • NALA is bound to the mobile app, meaning you can’t make transfers online and lower transparency.
  • Not transparent in the fee structure as all the fees are calculated at the transfer time.
  • More expensive compared to major money transfer companies such as Wise, even for transfers to Africa.

In my opinion, NALA is good if you live in East Africa and plan on utilizing multiple of their services at once. This way, it justifies having one app for all services.

However, if your primary goal is to send money abroad, be it personal or business, I’d recommend looking at alternatives such as Wise.

COST

NALA fees and exchange rates

Exchange rates

On average, NALA adds a 1.52% markup on top of the mid-market rate.

This means that for every unit of currency you send, NALA will add 1.52% on top of it.

It’s also worth noting that NALA is partnered with Sendwave (which is a sister company of WorldRemit) and Remitly. This means they can offer multiple rates for the same currency pairs.

Of course, the markup will depend on the currencies you want to send, but we’ve done the hard work and worked the markup for all currencies they offer.

Destination currency

NALA exchange rate

Mid-Market Rate

Difference

Service

PHP

61.69163

62.309

0.99%

NALA

PHP

59.88

62.309

3.90%

Sendwave

PHP

61.63

62.309

1.09%

Remitly

NGN

1780

1771.8

-0.46%

Remitly

XAF

655.9

656.3241007

0.06%

Remitly

XOF

655.96

652.73607

-0.49%

Remitly

NGN

1823.64

1771.8

-2.93%

NALA

XAF

675.1480482

656.3241007

-2.87%

NALA

KES

135.135

136.68

1.13%

NALA

GHS

16.74342

16.755

0.07%

NALA

XOF

654.5856

652.73607

-0.28%

NALA

TZS

2751.810298

2799.6

1.71%

NALA

UGX

3803.8

3895

2.34%

NALA

RWF

1396.3872

1455.5

4.06%

NALA

XOF

655.96

652.73607

-0.49%

Sendwave

GHS

16.7

16.755

0.33%

Sendwave

XAF

655.96

656.3241007

0.06%

Sendwave

NGN

1794

1771.8

-1.25%

Sendwave

KES

134.85

136.68

1.34%

Sendwave

UGX

3768

3895

3.26%

Sendwave

TZS

2718

2799.6

2.91%

Sendwave

GHS

16.71

16.755

0.27%

Remitly

UGX

3753.8

3895

3.63%

Remitly

RWF

1389.44

1455.5

4.54%

Remitly

TZS

2726.74

2799.6

2.60%

Remitly

KES

133.31

136.68

2.47%

Remitly

*All rates are taken in November 2024. Negative values are above the mid-market rate (better than the real exchange rate).

Based on this, NALA offers better rates for the following transfers:

  • From EUR to NGN via NALA

  • From EUR to XAF via NALA

  • From GBP to NGN via NALA

  • From USD to NGN via NALA

  • From EUR to XOF via Remitly

  • From GBP to XAF via NALA

  • From USD to GHS via NALA

International transfer fees

There’s no information available on the fees for NALA, which means all the fees are calculated at the time of the transfer.

NALA does mention that they charge a flat fee per transfer instead of percentage-based fees, which means they might be good for making larger transfers.

For the wallet top-ups, they have zero fees, but you might be charged by your bank, so it’s worth double-checking.

We’ve sampled a few transfer corridors and found the following:

Transfer

Cost

USA to Kenia

$0.99

UK to Kenia

$0.00

EU to Kenia

$1.99

USA to Uganda

$5.99

UK to Uganda

$5.99

EU to Uganda

$5.99

USA to Tanzania

$5.99

UK to Tanzania

$5.99

EU to Tanzania

$5.99

As you can see, fees vary from $0.99 to $5.99 depending on the transfer.

To put these numbers into perspective, let’s assume you’re making a $1000 transfer from the US to a bank via bank transfer to a bank account in the following countries:

Country

NALA fees

Wise fees

WorldRemit fees

Uganda

$25.89

$9.88

$0*

Tanzania

$25.59

$15.80

$0*

Kenia

$18.69

$14.33

$0*

*Only mobile money and promotional rates apply.

SPEED

Transfer speed

Delivery times will vary by country, but in general, you can expect the following international transfers to bank accounts in the following countries:

Country

Delivery Time

Delivery Window

Nigeria

In seconds

N/A

Kenya

In minutes

N/A

Tanzania

4-5 hours during the processing window

9:00 - 16:30 EAT. Transfers made on Friday (after the processing window) or on weekends will be delivered on Monday due to banking regulations.

Uganda

4-5 hours during the processing window

8:00 - 14:00 EAT. Transfers made on Friday (after the processing window) or on weekends will be delivered on Monday due to banking regulations.

Ghana

4-5 hours during the processing window

8:00 am WAT (non-holiday weekdays) - Transfers initiated before 8:00 am WAT will be processed within 3-4 hours. Transfers are processed once per day.

Egypt

Within 24 business hours if done before 15:00 EET

Transactions sent after 3:00 pm EET will be processed the next day. Friday and Saturday are non-banking days in Egypt.

Rwanda

N/A

Not supported for bank account transfers.

LIMITS

Transfer limits

Similar to the fees, NALA is not transparent with their limits when it comes to international money transfers.

NALA has daily, monthly, and yearly limits in place.

These can be increased within the app but will require you to submit additional documents, including the reason and proof of your funds (bank statement or a payslip).

For mobile money, you can expect the following limits:

Provider(s)

Item

Tier/Limit Details

All Telcos (Mpesa, Tigopesa, Airtel Money, Halopesa, Tpesa, Ezypesa)

Maximum per transfer

Tier 1: TZS 1,000,000

Tier 2: TZS 3,000,000

Tier 3: TZS 10,000,000

All Telcos (Mpesa, Tigopesa, Airtel Money, Halopesa, Tpesa, Ezypesa)

Maximum daily transfer

Tier 1: TZS 1,000,000

Tier 2: TZS 3,000,000

Tier 3: TZS 50,000,000

All Telcos (Mpesa, Tigopesa, Airtel Money, Halopesa, Tpesa, Ezypesa)

Maximum account balance

Tier 1: TZS 2,000,000

Tier 2: TZS 5,000,000

Tier 3: TZS 50,000,000

All Telcos (Mpesa, Tigopesa, Airtel Money, Halopesa, Tpesa, Ezypesa)

Maximum yearly limit

Tier 1: TZS 30,000,000

Tier 2: TZS 200,000,000

Tier 3: Not Applicable

PRODUCT

Product offering

NALA offers multiple services including:

  • International money transfers

  • Business transfers

  • Mobile money transfers

  • Bill payments

  • Buy Goods

Supported currencies & destinations

With NALA, you can make transfers from the UK, the US, and the EU.

From these locations, you can convert send money to:

  • PHP - Philippines

  • NGN - Nigeria

  • XAF - Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, Gabon

  • KES - Kenya

  • GHS - Ghana

  • TZS - Tanzania

  • UGX - Uganda

  • RWF - Rwanda

  • XOF - Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo

Find the best transfer deal
If you need to send money elsewhere, use this form to find the best deal for your transfer.
Send

Payment methods

With NALA, you can make transfers using:

  • Digital wallets

  • Bank accounts

  • Credit and debit cards

  • Google and Apple Pay

Receiving methods

You can receive money directly into:

  • NALA digital wallet

  • Bank account

Mobile app

NALA has a mobile app which is the only way to use the company.

The app has roughly 2,000 reviews on Google Play Store and App Store. It is well rated, 4.8/5 on Google Play Store and 4.7/5 on App Store.

With the app, you can:

  • Manage money transfers

  • Send money abroad

  • Track money transfers

  • Pay your bills

  • Use it for payments

  • Use as a digital wallet to receive and spend money

USABILITY

Ease of use

Customer service

NALA offers a few contact options, including:

  • Mail: International House, 64 Nile Street, London, United Kingdom, N1 7SR,

  • Reaching out on social media: Twitter, LinkedIn, YouTube or Instagram

SAFETY

Safety and trust

NALA is incorporated and licensed under UK laws, (company number 12792210) with its Registered Office located at International House, 64 Nile Street, London, United Kingdom, N1 7SR (“NALA”) making it a legitimate business.

Further to this, NALA Payments Ltd is an agent of Modulr FS Limited, who are regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011, for the issuing of electronic money for the issuing of electronic money, under firm reference number 902973.

REVIEWS

Customer feedback

NALA has 455 reviews on Trustpilot, with an average rating of 3.6.

Most users seem to complain about the transfer delays and lack of responses from the customer service team.

On the bright side, many say it’s easy to use and offers good services.

SIGN UP

Opening an account with NALA

​​Customers interested in setting up a NALA account must be 18 or over, with a current bank account and valid photo ID.

To open an account with NALA you will need:

Step 1
The amount you are transferring; in the local currency
Step 2
The amount the recipient is due to receive; in the applicable foreign currency
Step 3
The expected exchange rate applied to your transfer
Step 4
The payment information you have chosen to fund the transfer
Canceling transfer

Once a transfer has been submitted via the app your recipient will be paid instantly; this means you may not be able to stop or change money transfers once funds have been sent.

RECEIVING MONEY

Receive international transfers

As a receiver, you don’t need to do anything.

Money will arrive either in your NALA wallet or bank account automatically.

ALTERNATIVES

How NALA compares to other transfer services

  • Wise
    Fees & Rates
    9.4
    Transfer Speed
    9.0
    Safety & Trust
    9.2
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    10.0
    Customer Feedback
    8.5
    9.2
    Overall
  • Currencies Direct
    Fees & Rates
    9.8
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.4
    8.9
    Overall
  • TorFx
    Fees & Rates
    9.3
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.7
    8.9
    Overall
  • WorldRemit
    Fees & Rates
    9.1
    Transfer Speed
    8.0
    Safety & Trust
    9.0
    Product Offering
    9.0
    Transfer Limits
    8.0
    Ease of Use
    9.0
    Customer Feedback
    9.0
    8.7
    Overall
  • OFX
    Fees & Rates
    9.4
    Transfer Speed
    8.0
    Safety & Trust
    8.5
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    8.2
    Customer Feedback
    8.3
    8.7
    Overall

Other Alternatives

Alternatively, consider using one of these neobanks for international transfers.

Help & FAQ

Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.

FAQs

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Contributors

April Summers
April Summers is an experienced Senior Financial Content Editor who combines a wide range of professional skills with her academic background in English literature and journalism. Her professional background includes key positions at the Daily Star, LBB Online, and Entertainment Daily UK, which have sharpened her financial and journalistic expertise.
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