How to Send Money in Nigeria (2026): The Free and Cheapest Ways

Sending money to another Nigerian account should be instant and cheap — and often it's completely free. Here's how transfers work, the ways to send for free, and how to do it safely so your money never lands in the wrong account.

The bank levy is unavoidable, the transfer fee isn't. A statutory ₦50 electronic levy (EMTL) applies to inflows of ₦10,000 or more whatever you use — but the provider's own transfer fee is where free vs paid is decided.

How transfers work

Bank-to-bank transfers in Nigeria run on NIP (NIBSS Instant Payments) — money moves between accounts in seconds, any time, using the recipient's account number and bank. You can send from a banking app, USSD, or internet banking.

The free (or cheapest) ways to send

• Neobank apps — OPay, PalmPay and similar offer free transfers (subject to fair-use limits) to any bank. For frequent small transfers, these are the cheapest.
• Kuda — a free monthly transfer allowance, then a small flat fee.
• Your bank's app — traditional banks usually charge a small per-transfer fee, but it's low; check your bank's tariff.
• USSD — send without data by dialling your bank's code (e.g. *737# for GTBank) — see the full USSD cheat sheet. Handy when you're offline; a small session/transfer fee may apply.

The one cost you can't dodge is the ₦50 EMTL on inflows of ₦10,000+ — see Nigerian bank charges explained.

Send safely — every time

1. Confirm the recipient's name before you hit send — the app shows the account name; check it matches. Transfers are hard to reverse.
2. Double-check the account number — one wrong digit sends it to a stranger.
3. Send a small test first for a new or large recipient.
4. Never share your PIN or OTP — no one legitimate needs it to receive money from you; see how to avoid bank fraud.
5. Keep the receipt until the recipient confirms.

If a transfer fails or goes to the wrong account

• Failed but debited? It usually reverses automatically within minutes to 24 hours; if not, report it to your bank with the transaction reference.
• Sent to the wrong account? Contact your bank immediately with the details — recovery isn't guaranteed, which is why confirming the name first matters so much.

Choosing a low-fee everyday account? Compare them on our bank accounts page.

Frequently asked questions

What's the cheapest way to send money in Nigeria? Free-transfer neobank apps (OPay, PalmPay) for most transfers; traditional banks charge a small fee. The ₦50 EMTL on inflows of ₦10,000+ applies whatever you use.

How long do transfers take? Bank-to-bank transfers over NIP are usually instant — seconds — any time of day.

A transfer failed but I was debited — what do I do? It normally reverses automatically within minutes to 24 hours. If it doesn't, report it to your bank with the transaction reference.

Educational information, not financial advice. Fees and limits vary by provider — confirm your bank/app's current tariff, and always verify the recipient before sending.