How to send money to Nigeria from Israel with the best ILS-NGN rate

Comparing providers when sending money from Israel to Nigeria is the easiest way to make a transfer at the best price.

Here are your best options for sending money from Israel to Nigeria

• Wise is our recommended company for transferring New Israeli Sheqel to Nigeria. Sending 25,000 ILS to NGN will cost you ₪200.63 in fees, and you will get 11,437,643.04 NGN. The delivery time is same day, but it depends on the day you make the transfer.

• Wise is the overall cheapest options to send money from Israel to Nigeria. We found that Wise fees were 200.63 ILS per transfer, and customers would expect an exchange rate between ILS-NGN that is -0.92% different to the mid-market rate

• Fastest way to send money from Israel to Nigeria is with Wise. For example, if you send 25,000 ILS with Wise to Nigeria now, the transfer time is same day. Smaller transfers will likely be quicker, while larger transfers to India can take a bit longer.

We’ve compared 3 providers for sending New Israeli Sheqel to Nigeria. This ensures you will get the best options for your transfer to Nigeria from Israel.

The exchange rate determines the price you will pay when buying Naira.

A better exchange rate means more money being sent to Nigeria.

If you are paying for services in Naira from Israel, this can make a huge difference.

The current rate between the New Israeli Sheqel and Naira is 458.8816, and it fluctuates all the time.

The cost of sending money from Nigeria to Nigeria, is made-up of a combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: The mid-market rate determines a mid-price for buying currency. The current mid-market rate from ILS-NGN is 458.8816 NGN per New Israeli Sheqel.

• Fees: Outside of exchange rates, you may need to pay a fee to send. Wise currently offers the lowest fees on transfers to Nigeria from Israel. They charge 200.63 ILS per transfer. Although this does include large transfers as well, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Naira is the amount you started with, minus the amount you paid in the exchange and fees.

Here's a tip, if you're making a large transfer, you can also use a forward contract to lock in an agreed exchange rate between Israel and Nigeria.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Israel to Nigeria.

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

Bank transfers

Bank transfers are often the fastest and cheapest way to send money from Israel to Nigeria.

Using a money transfer company such as Wise for payments from Israel to Nigeria, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money with a debit card from Israel to Nigeria is easy with Paysend.


Paysend is a leader in debit card money transfers from Israel to Nigeria. They are the best option of the 3 transfer companies compared.

Credit cards

When it comes to credit card transfers from Israel to Nigeria, we recommend comparing your options to get the best deal.

Ensuring you fully understand regulations in Israel and Nigeria will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Israel and Nigeria.

Some companies offering money transfers between Israel and Nigeria have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare ILS-NGN rates for your specific transfer amount.

For regular transfers to Nigeria, shopping around each time can make a huge difference.

For sending large amounts of ILS to Nigeria we'd recommend using Wise. They offer a combination of rates and fees when sending from Israel to Nigeria that is the most competitive, even at larger amounts.

There are different options for receiving Naira in Nigeria.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Israel to Nigeria will offer every method for incoming Naira, so it’s best to check ahead of time.

Again, a comparison of ILS to NGN providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Israel into Nigeria is by sending directly to a bank account. Wise is the best company for bank transfers between Israel and Nigeria.

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

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Nairas to Nigeria, you will need to verify your ID at the sign up stage.

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

ID can be verified in Israel through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Nigeria, it will be similar.

Large transactions between Israel and Nigeria, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Nigeria is their easy sign up process in Israel.

Sending regular, or larger amounts of money between Israel and Nigeria could mean there are tax declarations to consider.

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

Nigeria has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Israel or Nigeria to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.