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Companies for transfers from India to Nigeria
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
In our experience, there are always efficiencies to be made in how businesses manage international payments in and out.
Why not take our free FX health check test to see how effective your business is in managing these. It only takes a couple of minutes.
Overall best way: Ria Money Transfer
We tested & reviewed 7 transfer providers, and Ria Money Transfer scored highly.
In the last six months, Ria Money Transfer appeared in 70.2% of India to Nigeria searches, and was the top rated company supporting payments India into Naira.
So for a great mix of cost, speed & features, make your India to Nigeria transfer using Ria Money Transfer.
How to get the best deal on sending money from India to Nigeria
- Always compare rates
Don't pay more than you have to. Use our live comparison tool to make sure you aren't missing the best rates to send money from India to Nigeria.
- Choose a provider
Select the provider that offers you the best value on buying NGN & service for your needs.
- Click, sign up & send
Follow the steps & make your transfer. Your funds will soon be on their way to your chosen country & currency.
Summary of recent searches
What to consider ahead of money transfers from India to Nigeria
Comparing based on your specific needs is the best way to send money from India to Nigeria with confidence.
Our analysis, and search results, include 7 providers that operate between India and Nigeria. These are ranked by speed, overall cost and ease of use.
Through this, you get a comprehensive view of all the options you have in India when you need to send money to Nigeria.
Cheapest way to send money to Nigeria from India: Ria Money Transfer
Data collected through our comparison over the past six months shows that Ria Money Transfer is 0% cheaper than the second-best option.
The cost is made up of an average fee of 4* INR and an exchange rate for buying Naira with Indian Rupee that is 2.8% different to the mid-market rate.
If you want to secure the best rates on a India to Nigeria transfer, Ria Money Transfer offers value. We would still recommend searching for the amount you want to send to Nigeria.
*The most common fee applied to INR-NGN by Ria Money Transfer, based on data from the past six months.
Fastest money transfers from India to Nigeria: Ria Money Transfer.
Through our comparison, we found Ria Money Transfer to be the fastest option to transfer money from India to Naira in 98% of instances.
Over the last six months, sending money from India to Nigeria through Ria Money Transfer have an average fee of 4 INR.
Ria Money Transfer was one of 7 money transfer providers we compared for overall speed of sending money from India to Nigeria. This speed test included depositing Indian Rupees to an account and the average timeframe for sending money to Nigeria.
When fast transfers are a priority, Ria Money Transfer is our best choice for sending from India to Nigeria.
Send large sums of money abroad with Currencies Direct
From the 7 options we compared, Currencies Direct offers the strongest all-round option for large transfers to Nigeria from India.
Whatever the reason, sending large sums of money can be expensive if you get a bad exchange rate from Nairas to Naira.
As such, we recommend Currencies Direct for large transfers between Nigeria and India.
Understanding the cost of transferring money to Nigeria from India
Fees and exchange rates make up the total cost of sending money from Nigeria to Nigeria. Finding a company that can offer both ensures a good deal on your transfer.
The Mid-Market and Exchange Rates: The current INR-NGN mid-market rate is 17.4714 NGN per Indian Rupee. You will get more Naira for your Indian Rupees if you find a provider close to this number.
For context, over the last three months the INR-NGN mid-market rate has had a high of 20.1758, a low of 17.3362 and averaged 19.3163 NGN per Indian Rupee.
Across the 7 companies compared, the best exchange rate is with Ria Money Transfer.
Unless fees are unusually high, the exchange rate you receive on converting INR to NGN will be the biggest determining factor when working out the cost of transferring Indian Rupees to Nigeria.
Fees: Transfer fees are charged as part of the transfer. Ria Money Transfer at an average of 4 INR per transfer over the last 6 months, offers the lowest fees overall. We’d always recommend comparing providers for your exact send amount as fees may change.
Amount Received: Money transfer companies will show you the amount of Naira eventually received in Nigeria. You can assume that a lower cost of sending from India will result in more money received in Nigeria.
Getting the best exchange rate for Indian Rupee to Naira
Tracking the mid-market rate can make a huge difference when sending money INR to NGN. The exchange rate you secure impacts how much NGN you get for your INR.
Here's some data on recent trends in the mid-market rate.
Over the past six months, the interbank rate from INR to NGN has seen some fluctuation. On average, it has been 19.3163.
During this period, the highest value level was 20.1758, with a low of 17.3362.
Ria Money Transfer, which is our recommended service to send money online from India to Nigeria offers an exchange rate that is only 2.8% above the mid-market rate.
Want to secure the best INR-Naira exchange rates?
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Payment methods available to fund your India to Nigeria transfer
Bank transfers
Bank transfers are often the better option for money transfers from India to Nigeria.
Sending money via a bank transfer with a company such as Ria Money Transfer for transfers from India to Nigeria allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank.
On average, Ria Money Transfer is the best provider for bank transfers of the 7 we tested when sending INR to Nigeria.
With an average fee of INR4 to send money from India to Nigeria, Ria Money Transfer offers a great combination of competitive exchange rates and lower fees.
Debit and prepaid cards
Sending money from India to Nigeria with a prepaid or a debit card is very simple with Instarem.
Instarem is a leader in card payments for transfers from India to Nigeria, competing among a total of 7 active money transfer companies on this route.
Credit cards
When it comes to transferring money with a credit card from India to Nigeria, emerges as our top choice of the 7 companies offering this service.
Beware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between Nigeria and India.
Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money from India to Nigeria.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send INR to NGN.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
