How to Send Money from South Africa to Nigeria

Ways to send money from South Africa to Nigeria

The best way to send money from South Africa to Nigeria

Wise is the best way to send money to Nigeria from South Africa. This is based on cost, speed, and how easy it is to use.

We analyzed 4 providers that allow ZAR to NGN transfers. Wise emerged as the best option in 100% of searches.

How to send money from South Africa to Nigeria

Follow these steps to send money between South Africa and Nigeria

1. Choose your provider. Register with the provider of your choice by clicking on the link above.

2. Enter your details. Enter your details and provide any of the documents needed.

3. Start your transfer. Tell your provider that you'd like to send money from South Africa to Nigeria, how much you'd like to send, and how you'd like to pay for your transfer. You'll also need to add your recipient's details.

4. Check the recipient's details. This is really important. It can be very difficult to reverse a transfer from South Africa to Nigeria once it's been sent. Make sure all the details are correct before you submit.

5. Send the money. When you've checked the details, you can make the transfer.

The cheapest way to send money from South Africa to Nigeria

The cheapest way to send money from South Africa to Nigeria is WorldRemit. On average, transfers from South Africa to Nigeria with WorldRemit cost R0.99, making them 0.05 cheaper than their nearest competitor.

WorldRemit has been the cheapest way to send money from South Africa to Nigeria for the last three months, on average.

Just to make you aware, bank transfer was the cheapest payment method.

The current mid-market rate between ZAR and NGN is 84.1806. The rate the time you transfer will impact your overall cost. As an example, WorldRemit has averaged 0.02% below the mid-market rate over the last three months, generally making sending money a little cheaper before fees.

Note: The cheapest way to send money isn't always the fastest

WorldRemit is the cheapest way to send money from South Africa to Nigeria, but make sure the timeframes work for you.

How the cost of sending money to Nigeria from South Africa is calculated

The cost of sending money from South Africa to South Africa depends on several things, including:

The mid-market rate

The current mid-market rate between ZAR and NGN is 84.1806. The rate the time you transfer will impact your overall cost. As an example, WorldRemit has averaged 0.02% below the mid-market rate over the last 3 months, generally making sending money a little cheaper before fees.

The markup and fee

Providers will often charge a markup on the rate, fees, or both, for transfers between Nigeria and Nigeria. This is why Regency FX is listed as our cheapest option - they offer the best combination of Rand to Naira rates (5.12) and fees (0.99).

Bank transfers from South Africa to Nigeria

Bank transfers are the most common way of sending ZAR to Nigeria as they are secure, reliable, and convenient.

If you want to send Rands to Nigeria via bank transfer, WorldRemit has been the top rated provider in our comparison system for the last three months, recommended 100% of the time.

That’s because companies like WorldRemit bypass the SWIFT network and rely on their own digital network of banks, making transfers faster and cheaper. As an example, WorldRemit's transaction fees for Rands into Nigeria have averaged at 0.99 for the last three months. This is significantly lower than the fees charged by banks.

Credit card payments from South Africa to Nigeria

Credit card payments are quick, convenient, and typically more secure than other methods, thanks to backing by the issuing party. Some users may even be able to rack up reward points when making large transactions.

If you want to send Rands to Nigeria with a credit card, Western Union Agent is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 100% of the time.

Note: Beware of charges

Credit card payments are often classified as cash advances, which bring their own charges, as well as currency conversion and usage fees. Forgetting to pay your balance can also result in high interest charges, and can even damage your credit score.

Debit card payments from South Africa to Nigeria

Debit card payments let you send money from the South Africa to Nigeria with the similar convenience of a credit card, and there are usually no tax advance fees. That said, you might still face currency exchange fees, processing fees, and other expenses, making this a pricier option than a simple bank transfer.

If you want to send Rands to Nigeria with a debit card, Western Union Agent is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 100% of the time.

Finding the best exchange rate for ZAR to NGN

The mid-market exchange rate changes daily, so timing your transfer can make a big difference to how many NGNs you can get for your ZARs. The average Rand to Naira mid-market rate over the last month was 84.0564, with a low of 83.5964 and a high of 84.8785.

For comparison, the best exchange rate for ZAR to NGN right now is through WorldRemit, at a difference of 5.12%.

How we find the best transfer deals from South Africa to Nigeria

We’ve compared the cost, speed, and product offering of the top money transfer services (including WorldRemit) available between Nigeria and South Africa. Or comparison tool compares providers based on live fees, rates, and transfer times to make sure you get the best deal available.

We also produce unbiased, detailed reviews of all the top money transfer companies for sending Rand to Nigeria, helping you in making smarter, simpler choices. We pride ourselves on our objective reviews, maintaining complete independence in our analysis and ratings.

Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.