How to send money to Nigeria from Switzerland with the best CHF-NGN rate

The exchange rate determines the price you’ll pay for Naira when you send Swiss Franc to Nigeria.

The current exchange rate between the Swiss Franc and Naira is 1,691.4672, and it constantly fluctuates.

When calculating the cost of sending money from Switzerland to Nigeria, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current CHF-NGN mid-market rate is 1,691.4672 NGN per Swiss Franc. Finding a provider as close to this number as possible will ensure more Naira for your money.

• Fees: Transfer fees are charged on top of a transfer. Revolut currently offers the lowest fees of 56.5 CHF per transfer (based on fr.6,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Naira is the biggest indicator in the total cost of sending money to Switzerland from Nigeria. The higher the total amount received in Nigeria, the lower the cost of sending from Switzerland.

It’s possible that waiting a day or two can help you get more NGN for the same amount of Swiss Franc. But, the best way to lock in a price between Switzerland and Nigeria is by using a forward contract.

A bank transfer is our recommended option for money transfers between Switzerland and Nigeria. Revolut offers the best price on a bank transfer.

Here are all the ways to send money from Switzerland to Nigeria:

Bank transfers

Bank transfers are often the best payment method for money transfers from Switzerland to Nigeria.

A money transfer company like Revolut offer bank transfers between Switzerland and Nigeria with lower fees and better exchange rates than you would get from a traditional bank.

On average, Revolut is the cheapest provider for bank transfers of the 4 we tested when sending CHF to Nigeria.

Debit and prepaid cards

Sending money from Switzerland to Nigeria with a debit or a prepaid card is very simple with Xe.


Xe is a leader in debit card payments for transfers from Switzerland to Nigeria, competing among a total of 4 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both Switzerland and Nigeria to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Switzerland and Nigeria.

Some services have minimum or maximum thresholds on how much you can transfer from Switzerland to Nigeria.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of CHF to Nigeria. The combination of rates and fees when sending to Nigeria is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Switzerland, or entering Nigeria. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Nigeria. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Switzerland to Nigeria will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Switzerland into Naira. Wise is the best company for bank transfers between Switzerland and Nigeria.

And if you need cash right away, check if cash pickup is an option for transfers between Switzerland and Nigeria.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Revolut.

When signing up to a money transfer company to send between Switzerland and Nigeria, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Switzerland this will be a government ID like a passport or driver's license. In Nigeria it will be a similar set of documents, although this should only be needed if you are opening a new account in Nigeria, or collecting in cash.

Big transactions between Switzerland and Nigeria, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in Switzerland.

When sending large amounts of money between Switzerland and Nigeria there will be tax implications to consider.

Some transfers into Naira may need to be reported to tax authorities in Nigeria, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in Nigeria based on age, income and a few other elements. When in doubt, please contact a tax professional in Switzerland or Nigeria to discuss your personal circumstances.