Top 5 Apps for Sending Money to Nigeria from Canada

The world has become more interconnected than it was a decade ago such that sending money back home has become a uniquely sensitive affair. However, with numerous options available, choosing the right app to send money to Nigeria can feel overwhelming for many Nigerians living in Canada, USA, and Europe. One thing to be understood is that each cross-border payment platform comes with its unique strengths and weaknesses, and finding the right one for you often depends on carefully examining what you prioritise above many others. But one thing is fact - Nigerians don't entertain delays, so finding the right app for sending money to Nigeria would mean finding a platform that prioritises speed.

Moreover, when sending money to Nigeria, especially from Canada, it’s important to use a service that understands not just the technicalities of international money transfers but also the local landscape of Nigeria’s financial ecosystem. That’s why this article is here to help. We’ll be breaking down the top five apps for sending money to Nigeria from Canada, listing the pros and cons so you can make an informed decision.

1. Pesa: The Money Transfer Platform with No Fees

If you’re looking for the best way to send money to Nigeria, you should start thinking Pesa. Pesa understands the Nigerian financial system and the local digital community better than most of its competitors. This is what makes it stand out from the crowd. Not only does it offer real-time transfers, but it also doesn’t charge any fees for transactions, which is a rare feature in the money transfer world.

What really sets Pesa apart is its tailored approach to how transactions work in Nigeria. They know the ins and outs of how banks and mobile wallets operate, so you can rest assured that your money will reach its destination without hiccups. Plus, Pesa offers an easy-to-use interface, making the process as smooth as possible, whether you’re tech-savvy or not.

• Pros:
  • No fees for sending money to Nigeria.
  • Real-time transfers, meaning your recipient gets the money almost instantly.
  • Deep understanding of the local Nigerian market, ensuring smooth transactions.
  • User-friendly interface for easy navigation.
  • Multi-currency feature.
• Cons:
  • Still expanding to cover a wider reach, geographically, however, it has established a solid base in all countries with a high population pool of Nigerians.
  • Fewer reviews and feedback compared to other vendors, but makes up for this with trust and reliability reposed on it by its customers.

2. WorldRemit: Diverse Options but Pricey

WorldRemit has made a name for itself by offering multiple ways to send money. Whether you prefer sending money to a bank account, mobile wallet, or even topping up airtime, WorldRemit provides flexibility that appeals to many users. But with flexibility comes cost—its fees and exchange rates tend to be on the higher side, especially for frequent users.

It’s reliable and convenient, but it doesn’t quite match Pesa’s local expertise in Nigeria. You might find the costs adding up if you’re making regular transfers. WorldRemit is a solid choice if you need options, but there are better-priced alternatives.

• Pros:
  • Multiple transfer options (bank accounts, mobile wallets, airtime).
  • Reliable and widely available in over 130 countries.
  • Fast transfer times, often completed within minutes.
• Cons:
  • Higher fees and exchange rates, making it less cost-effective for frequent transfers.
  • Limited understanding of the local Nigerian financial ecosystem.

3. Remitly: Speedy but Comes with Costs

Remitly is known for its speed, especially with its Express option, which delivers transfers in a matter of minutes. If you’re in a rush and need to get money to Nigeria quickly, Remitly might be a good option. However, this speed comes at a price. The Express service incurs higher fees, making it less appealing if you’re looking for budget-friendly options.

Remitly also offers an Economy option, which is cheaper but slower, so the platform offers a bit of flexibility. But again, compared to Pesa, Remitly’s costs and slower transfer options don’t always provide the best value.

• Pros:
  • Fast transfers with the Express option.
  • Multiple service tiers (Express for speed, Economy for cost-efficiency).
  • Available in many countries, including Canada, USA, and the UK.
• Cons:
  • High fees for the faster Express option.
  • Economy transfers are slow and can take several days.
  • Doesn’t match the fee-free advantage of Pesa.

4. Wise (formerly TransferWise): Great Exchange Rates but Slow

Wise is often lauded for its fair and transparent exchange rates, which use the real mid-market rate. This makes it a solid choice if you're concerned about getting the most for your money in terms of exchange rates. The downside? Wise isn’t the fastest. While it’s affordable, transfers can take a day or two to reach your recipient, which may not be ideal if you need an urgent solution.

If your priority is saving on exchange rate costs and you don’t mind waiting a bit longer, Wise is a reasonable choice. But for those looking for real-time transfers, Wise doesn’t quite stack up against faster options like Pesa.

• Pros:
  • Offers mid-market exchange rates, saving you money on currency conversions.
  • Transparent and low fees.
  • Great for sending large sums where exchange rates matter.
• Cons:
  • Slower transfer times, with some transfers taking up to two days.
  • Lacks real-time transfer capability.
  • Less effective for smaller, frequent transactions.

5. Sendwave: No Fees but Limited by Small Transfer Amounts

Sendwave operates similarly to Pesa in that it doesn’t charge any fees for transfers. However, it’s best suited for smaller transactions, which might be limiting if you're sending large sums. The app is straightforward and user-friendly, making it ideal for quick, small transfers to family or friends in Nigeria.

While the fee-free transfers are appealing, Sendwave doesn’t offer the same level of speed or local knowledge that Pesa does. Plus, exchange rates on Sendwave are not always as competitive, so you may end up getting less value for your money.

• Pros:
  • No fees for sending money to Nigeria.
  • Quick transfers, usually within minutes.
  • Easy-to-use interface for small transfers.
• Cons:
  • Lower exchange rates than other apps.
  • Best for small amounts, not suitable for large transfers.
  • Lacks advanced features like real-time transfers and doesn’t have deep local knowledge like Pesa.

Conclusion: Among All, Pesa is the Best for Sending Money to Nigeria

When you’re looking to send money to Nigeria, there are plenty of apps to choose from, but none match the combination of speed, no-fee transfers, and local expertise that Pesa offers. Unlike other services that come with hidden fees or higher costs for faster transfers, Pesa cuts through the complexity with straightforward, real-time transfers at no cost. Whether you're sending money from Canada, the UK, or the USA, Pesa ensures that your recipient in Nigeria gets the full amount instantly.

What sets Pesa apart is its understanding of the local financial landscape in Nigeria. It’s built with the knowledge of how transactions work locally, ensuring that your money gets to your recipient smoothly and without unnecessary delays. With its user-friendly app and secure platform, Pesa is the clear winner when it comes to international remittances to Nigeria.

So, the next time you need to send money to Nigeria from Canada, trust Pesa to get the job done right—fast, free, and securely. Download our five-star rated app now on Apple Store or Play Store now and GET STARTED!