The main routes: wire transfer, money transfer service, or international ACH

You can send money to a Nigerian bank account from the US through three channels: a wire transfer from your US bank, a money transfer service like Western Union or MoneyGram, or an international ACH transfer if your bank offers it. Wire transfers are fastest but cost the most. Money transfer services are cheaper and faster than traditional bank wires but may have lower limits. International ACH is slowest but cheapest, and not all US banks offer it to Nigeria.

The route you choose depends on how much you're sending, how quickly it needs to arrive, and how much you can afford to spend on fees. A $500 wire transfer might cost $25 to $50 in fees alone. The same amount through a money transfer service might cost $5 to $15. But the money transfer service could take 1 to 3 business days, while a wire can arrive the same day or next day.

Key Takeaways

  • Wire transfers from your US bank arrive fastest (same day to next day) but charge $25 to $50 in fees, plus the receiving bank in Nigeria may charge another $5 to $15.
  • Money transfer services like Western Union, MoneyGram, and Wise are cheaper ($5 to $20 for most transfers) and faster than bank wires, but have daily or monthly sending limits.
  • You will need the recipient's full name, bank name, account number, and bank routing code (SWIFT code or NUBAN) — ask the recipient to confirm these details before you send.
  • The Nigerian receiving bank may hold the money for 1 to 3 business days even after it arrives, and may charge a receiving fee that comes out of the amount the recipient gets.
  • Exchange rates vary by provider and change throughout the day, so compare rates from at least two services before you commit to sending.

Wire transfers: fastest but most expensive

A wire transfer moves money directly from your US bank to the Nigerian bank. Call your bank's international wire department or log into your online banking portal to initiate one. You will need the recipient's full name exactly as it appears on their Nigerian bank account, their account number, their bank name, and the bank's SWIFT code (a five-letter code that identifies the bank internationally).

Most US banks charge $25 to $50 to send an international wire. The Nigerian receiving bank will also charge a fee, usually $5 to $15, which is deducted from the amount the recipient receives. The money typically arrives within 24 hours, though some banks take up to 2 business days. Ask your bank for a tracking number so you can follow the transfer if something goes wrong.

Wire transfers work best when you need the money to arrive quickly and the amount is large enough that the fee is a small percentage of what you're sending. If you're sending $100, a $35 fee is steep. If you're sending $2,000, it's more reasonable.

Money transfer services: cheaper and often faster

Services like Wise, Western Union, MoneyGram, and Remitly let you send money online or in person without using your bank. You create an account, enter the recipient's bank details, and pay the fee upfront. The money goes directly to their Nigerian bank account. Fees typically range from $5 to $20 depending on the amount and the service.

Wise (formerly TransferWise) is often the cheapest option for larger amounts because it uses the real mid-market exchange rate and charges a flat fee plus a small percentage. Western Union and MoneyGram charge higher fees but may be faster for cash pickups if the recipient prefers that option instead of a bank deposit. Remitly specializes in transfers to developing countries and often has competitive rates for Nigeria.

Most money transfer services deliver the money within 1 to 3 business days. Some offer next-day delivery for an extra fee. Check the daily and monthly sending limits for each service — they vary, and some cap how much you can send in a single transaction or over 30 days. If you're sending more than $5,000, you may need to split it across multiple transfers or use a wire instead.

International ACH: slowest but cheapest

Some US banks offer international ACH transfers, which work like a domestic ACH but cross borders. The fee is usually $0 to $15, making it the cheapest option. The catch is that it takes 5 to 10 business days, and not all Nigerian banks accept ACH transfers. Ask your bank whether they offer this service to Nigeria and whether the recipient's bank accepts it before you try.

If your bank does offer it, you will still need the recipient's account number and bank details. The process is the same as setting up a domestic ACH transfer through your online banking portal. Because of the long timeline, use ACH only when you have time to spare and cost is the main concern.

What information you need from the recipient

Before you send any money, get these details from the recipient in writing and ask them to double-check each one:

  • Full name exactly as it appears on the bank account
  • Bank account number (usually 10 digits for Nigerian accounts)
  • Bank name (for example, GTBank, Access Bank, First Bank)
  • SWIFT code (five letters identifying the bank internationally)
  • NUBAN code (an 11-digit Nigerian account identifier that some banks require)

A single wrong digit in the account number can send your money to the wrong person. Some banks will reject the transfer and return it to you. Others will send it through and the recipient's bank will hold it while they try to figure out who it belongs to. Getting the details right the first time saves time and frustration.

Exchange rates and hidden fees

The exchange rate you see advertised is not always the rate you get. Banks and money transfer services buy and sell currency at slightly different rates than the mid-market rate (the real-time rate you see on financial news sites). The difference is how they make money. A service might advertise a rate of 1,500 Nigerian naira per US dollar, but actually give you 1,480 naira per dollar. That gap adds up on larger transfers.

Compare the all-in cost from at least two providers before you send. Enter the exact amount you want to send and see what the recipient will actually receive after all fees and exchange rate adjustments. Wise and some banks publish their exchange rates in real time, so you can see exactly what you're getting. Western Union and MoneyGram rates vary by location and method, so you have to enter your details to see the final number.

The Nigerian receiving bank may also charge a fee that comes out of what the recipient gets. Ask them whether their bank charges a receiving fee and how much it is. Some banks charge $5, others charge $10 or more. This is separate from the fee you pay on the US side.

What happens after the money arrives

Once the money reaches the Nigerian bank, the receiving bank processes it. This can take 1 to 3 business days even after the transfer shows as "delivered" on your end. The recipient may not see the money in their account when ready. Some Nigerian banks hold international transfers for a day or two while they verify the sender and check for fraud.

If the recipient's bank rejects the transfer because of incorrect account details or a mismatch in the account holder's name, the money returns to you. This can take 5 to 10 business days. You will then need to get the correct information and send again. To avoid this, confirm the recipient's details before the first transfer and ask them to confirm that the money arrived.

Frequently Asked Questions

Can I send money to a Nigerian account if I don't know the SWIFT code?

You can ask the recipient for it, or search online for the bank's SWIFT code using the bank name. Most Nigerian banks publish their SWIFT codes on their websites. If you cannot find it, call your US bank's international wire department — they can often look it up for you or tell you if the bank accepts transfers without it.

What's the difference between a SWIFT code and a NUBAN?

A SWIFT code identifies the bank internationally and is used for wire transfers. A NUBAN is a Nigerian-specific 11-digit account identifier that some banks require in addition to the account number. Ask the recipient which one their bank needs. Most banks accept transfers with just the account number and SWIFT code, but some require the NUBAN as well.

How long does it take for the money to show up in the recipient's account?

Wire transfers usually arrive within 24 hours but can take up to 2 business days. Money transfer services typically take 1 to 3 business days. Even after the money arrives at the Nigerian bank, it may take another 1 to 3 business days for the recipient to see it in their account because the bank processes international transfers in batches.

What if the transfer fails or gets rejected?

If the receiving bank rejects the transfer due to incorrect account details, the money returns to your US bank account. This can take 5 to 10 business days. You will then need to get the correct information from the recipient and send again. To prevent this, confirm all account details with the recipient before sending and ask them to verify the information with their bank.

Is it safe to send money this way?

Wire transfers and money transfer services are find as long as you send the money to the correct account. The main risk is sending to the wrong account number or to someone impersonating the person you intend to help. Verify the recipient's identity and account details independently before sending. Do not send money based only on an email or text message asking for it.