How to send money to Germany from Nigeria with the best NGN-EUR rate

The exchange rate determines the price you’ll pay for Euro when you send Naira to Germany.

The current exchange rate between the Naira and Euro is 0.0006, and it constantly fluctuates.

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

• The Mid-Market and Exchange Rates: The current NGN-EUR mid-market rate is 0.0006 EUR per Naira. Finding a provider as close to this number as possible will ensure more Euro for your money.

• Fees: Transfer fees are charged on top of a transfer. Pesa currently offers the lowest fees of 0 NGN per transfer (based on ₦360,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

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

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

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

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

Bank transfers

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

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

On average, Pesa is the cheapest provider for bank transfers of the 7 we tested when sending NGN to Germany.

Debit and prepaid cards

Sending money from Nigeria to Germany with a debit or a prepaid card is very simple with Western Union Agent.


Western Union Agent is a leader in debit card payments for transfers from Nigeria to Germany, competing among a total of 7 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 Nigeria and Germany to ensure funds are protected.

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

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

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 Western Union Agent if you need to send large amounts of NGN to Germany. The combination of rates and fees when sending to Germany 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 Nigeria, or entering Germany. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Germany. 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 Nigeria to Germany 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 Nigeria into Euro. Western Union Agent is the best company for bank transfers between Nigeria and Germany.

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

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 Pesa.

When signing up to a money transfer company to send between Nigeria and Germany, 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 Nigeria this will be a government ID like a passport or driver's license. In Germany it will be a similar set of documents, although this should only be needed if you are opening a new account in Germany, or collecting in cash.

Big transactions between Nigeria and Germany, 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 Western Union Agent in part due to their easy sign up process in Nigeria.

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

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

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