Cost to send money from South Africa to Nigeria
Sending ZAR 1,370 from South Africa to Nigeria cost 14.65% of the amount on average in Q3 2025, across 17 services surveyed by the World Bank. The lowest cost was 3.46% (Mama Money) and the highest 34.60%. ZAR 1,370 is the World Bank's standard amount for this corridor, set as the equivalent of US$200. A year earlier, in Q3 2024, the average was 13.57%.
| Average total cost (US$200 equivalent) | 14.65% |
| Average total cost (US$500 equivalent) | 8.40% |
| Average FX margin | 3.20% |
| Money transfer operators | 15.14% across 12 services |
| Banks | 14.66% across 4 services |
| Surveyed | 16 Aug 2025 to 22 Aug 2025, 8 providers |
Every service surveyed, cheapest first
Total cost is the fee plus the FX margin, as a share of ZAR 1,370.
| Provider | Type | Pay by | Receive as | Speed | Fee | FX margin | Total cost |
|---|---|---|---|---|---|---|---|
| Mama Money | Money Transfer Operator | Bank account transfer | Bank account | 3-5 days | ZAR 29.00 | 1.34% | 3.46% |
| WorldRemit | Money Transfer Operator | Bank account transfer | Bank account | 2 days | ZAR 0.00 | 4.99% | 4.99% |
| WorldRemit | Money Transfer Operator | Credit card | Bank account | 2 days | ZAR 0.00 | 4.99% | 4.99% |
| WorldRemit | Money Transfer Operator | Debit card | Bank account | 2 days | ZAR 0.00 | 4.99% | 4.99% |
| Sikhona Money Transfers | Money Transfer Operator | Cash | Bank account | Less than one hour | ZAR 25.00 | 5.58% | 7.40% |
| Sikhona Money Transfers | Money Transfer Operator | Bank account transfer | Bank account | Less than one hour | ZAR 25.00 | 5.58% | 7.40% |
| First National Bank of South Africa | Bank | Bank account transfer | Bank account | 2 days | ZAR 70.00 | 2.42% | 7.53% |
| First National Bank of South Africa | Bank | Bank account transfer | Bank account | 2 days | ZAR 80.00 | 2.42% | 8.26% |
| First National Bank of South Africa | Bank | Bank account transfer | Bank account | 2 days | ZAR 80.00 | 2.42% | 8.26% |
| First National Bank of South Africa via MoneyGram | Bank / Money Transfer Operator | Bank account transfer | Cash | Less than one hour | ZAR 88.95 | 2.28% | 8.77% |
| Mama Money | Money Transfer Operator | Cash | Cash | Same day | ZAR 69.00 | 4.01% | 9.05% |
| MoneyGram | Money Transfer Operator | Cash | Bank account | Next day | ZAR 200.00 | 4.82% | 19.42% |
| MoneyGram | Money Transfer Operator | Cash | Cash | Next day | ZAR 200.00 | 4.82% | 19.42% |
| Western Union | Money Transfer Operator | Cash | Cash | 2 days | ZAR 450.00 | 0.67% | 33.52% |
| Western Union | Money Transfer Operator | Debit card | Cash | 2 days | ZAR 450.00 | 0.67% | 33.52% |
| Western Union | Money Transfer Operator | Credit card | Cash | 2 days | ZAR 450.00 | 0.67% | 33.52% |
| ABSA | Bank | Bank account transfer | Bank account | 2 days | ZAR 450.00 | 1.75% | 34.60% |
How the cost has moved
The average was 20.81% in Q2 2016, the first quarter in this series with data for the corridor, and 14.65% in Q3 2025.
The UN target
The UN Sustainable Development Goals aim to bring the global average cost of sending remittances below 3% by 2030 and to remove corridors costing more than 5%. The World Bank measures the 5% test on the average of the three cheapest qualifying services in each corridor, not on the corridor average. source In this corridor the three cheapest services surveyed averaged 4.48% (a plain average, without the World Bank's qualifying rules).
Related
Frequently asked questions
How much does it cost to send money from South Africa to Nigeria?
Sending ZAR 1,370 from South Africa to Nigeria cost 14.65% of the amount on average in Q3 2025, across 17 services surveyed by the World Bank. The lowest cost was 3.46% (Mama Money) and the highest 34.60%. ZAR 1,370 is the World Bank's standard amount for this corridor, set as the equivalent of US$200. A year earlier, in Q3 2024, the average was 13.57%.
Which service cost least from South Africa to Nigeria?
In the World Bank's Q3 2025 survey the lowest total cost was 3.46% of ZAR 1,370, from Mama Money. Costs change with exchange rates, so check current prices with each provider.
Where Polynopsis fits
The companies surveyed here move money across borders every day, and many of them prefund payout partners in the receiving country. Polynopsis is liquidity software for those companies: one live position across their banks, payout partners and wallets, with a warning before a corridor runs dry.
Data: World Bank, Remittance Prices Worldwide (complete dataset, licensed CC BY 4.0). Averages and charts are worked out by Polynopsis from that dataset. Services without a US$200 quote are left out of the averages, so a few corridors differ slightly from the World Bank site. Each corridor uses the local send amount the World Bank set as the equivalent of US$200; where that amount is now worth much less than US$200, fixed fees make the percentage cost higher.
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.
About Polynopsis
Polynopsis is liquidity management software for cross-border payment companies. The name joins poly, many, and synopsis, a seeing together: one live view of money spread across many banks, payout partners, exchanges and stablecoin wallets, including money in flight, with a warning before any corridor runs dry.
Why it is called Polynopsis · About Polynopsis · Glossary · Corridor runway calculator