How to send money to South Africa from Nigeria with the best NGN-ZAR rate

The exchange rate determines the price you’ll pay for Rand when sending Naira to South Africa.

The rate between the Naira and Rand is currently 0.0121. Pesa offers the best exchange from NGN-ZAR.

The total cost of sending money to South Africa from Nigeria is a mix of the mid-market, exchange rates and transfer fees.

• The Mid-Market and Exchange Rates: The mid-market for NGN-ZAR is 0.0121 ZAR per Naira.

• Fees: When sending money there may be additional fees. Pesa offers the lowest fee of the 5 providers tested, costing justs 0 NGN per transfer.

• Amount Received: When comparing providers, the best measure is the amount of Rand eventually received in South Africa.

This number should allow you to determine if you are getting a good deal. A higher amount of money received in South Africa, means a better overall cost of sending money from Nigeria.

Sending money via a bank transfer is the recommended option for sending money from Nigeria to South Africa.

Here are the popular ways to send money from Nigeria to South Africa:

Bank transfers

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

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


Debit and prepaid cards

Sending money from Nigeria to South Africa 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 South Africa, competing among a total of 5 active money transfer companies on this route.

Credit cards

Not many money transfer companies offer direct credit card deposits, because it is more expensive for everyone.

We recommend using a bank transfer or a debit card transfer if you can; otherwise, make a quick comparison to find the latest deal.

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

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

Some services between Nigeria and South Africa have minimum or maximum thresholds on how much you can transfer. This is applies when receiving money in South Africa as well.

Companies will offer different rates and fees for different transfer amounts. For regular transfers to South Africa, use Western Union Agent. The combination of rates and fees when sending from Nigeria to South Africa 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 South Africa. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive Rand in South Africa. This includes a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers serving transfers from Nigeria to South Africa will offer every method for incoming Rand, so it’s best to check ahead of time.

One of the more common ways to transfer from Nigeria into Rand is directly into a bank account. Western Union Agent is the best company for bank transfers between Nigeria and South Africa.

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

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 and sending Naira to South Africa, through a money transfer company, you will have to verify your ID.

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

For the most part however, in Nigeria this will be a government issued ID such as a passport or driver's license. In South Africa it will be similar, although this should only be needed if you are opening a new account in South Africa, or collecting in cash. Sending to an existing bank account in South Africa shouldn’t require any additional ID checks.

Large transactions between Nigeria and South Africa, are subject to additional checks. A provider may ask you for proof of address or may want to carry out a proof of funds check.

One of the reasons Western Union Agent has scored so highly for transfers to South Africa is their easy sign up process in Nigeria.

When sending large amounts of money between Nigeria and South Africa there will potentially be a tax declaration to consider.

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

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