Wise — review & details
Wise currently supports sending money to Nigeria, converting at the mid-market exchange rate with the fee broken out separately — but NGN is not a sending currency, so you cannot use Wise to send money out of Nigeria.
Mid-market rate
Wise
★★★★☆
Inbound only — send from 20+ currencies into Nigerian bank accounts; no outbound NGN transfers
Ngn Support
Wise states most transfers arrive within a day, many far faster
Speed
Regulated e-money/money-transfer institution across its sending markets (FCA in the UK, state licences in the US, others)
Licence/ Registration
Cost-conscious senders who want the transparent mid-market rate
Best For
Multi-currency transfer platform (inbound to Nigeria)
Type
Pros
- Uses the mid-market exchange rate with the fee shown separately — the most transparent pricing model in this table
- Delivered naira amount is displayed exactly before you pay
- Strong regulatory footprint and long operating history in its sending markets
Cons
- No sending from Nigeria — NGN is a receive-only currency on Wise
- Nigeria transfers have been suspended more than once historically (2016, 2020, 2022), so corridor availability is worth re-checking before relying on it
- Bank deposit only; no cash pickup for recipients
Fees, eligibility & documents
Fees
Transfer costA disclosed upfront fee plus the mid-market rate with no added margin; still worth comparing the final delivered naira amount against app rivals
Eligibility
- Sender in a Wise-supported country (Nigeria is not one for sending)
- Recipient's Nigerian bank account details
- Standard Wise account verification
Documents needed
- Government-issued photo ID for the sender
- Proof of address in some markets
- Source-of-funds evidence for large transfers
Want the full picture?
Read the full Wise review →
How Wise compares in money transfer & remittance
| Wise | LemFi | Sendwave | |
|---|---|---|---|
| Ngn Support | Inbound only — send from 20+ currencies into Nigerian bank accounts; no outbound NGN transfers | — | — |
| Speed | Wise states most transfers arrive within a day, many far faster | Minutes to same day | Minutes to same day |
| Licence/ Registration | Regulated e-money/money-transfer institution across its sending markets (FCA in the UK, state licences in the US, others) | — | — |
| Best For | Cost-conscious senders who want the transparent mid-market rate | Lowest all-in cost | Simple mobile transfers |
| Visit Wise → | Visit LemFi → | Visit Sendwave → |
← Compare all money transfer & remittance
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