{"id":615,"date":"2025-11-16T23:18:23","date_gmt":"2025-11-16T22:18:23","guid":{"rendered":"https:\/\/yolat.com\/blog\/?p=615"},"modified":"2025-11-16T23:18:24","modified_gmt":"2025-11-16T22:18:24","slug":"tired-of-losing-money-on-transfers-here-are-the-cheapest-ways-to-send-money-to-nigeria","status":"publish","type":"post","link":"https:\/\/yolat.com\/blog\/tired-of-losing-money-on-transfers-here-are-the-cheapest-ways-to-send-money-to-nigeria\/","title":{"rendered":"Tired of Losing Money on Transfers? Here Are the Cheapest Ways to Send Money to Nigeria"},"content":{"rendered":"\n

If you\u2019ve ever sent money home to Nigeria, you know the drill: By the time your family member gets the alert, the naira has fluctuated, and a huge chunk of your money is gone for a processing fee or something of the sort. So, the best thing is to look for the cheapest ways to send money. It\u2019s the modern-day Nigerian tax, not from the government, but from the money transfer apps that claim to do everything but be transparent. <\/p>\n\n\n\n

But 2025 is not 2018. Nigerians abroad have started whispering about a new app that\u2019s breaking that cycle. Not with billboard ads or empty promises, but with one thing we all understand, better rates. The name of said app is Yolat, and if you haven\u2019t heard about it by now, then you\u2019ve definitely been doing something wrong. <\/p>\n\n\n\n

The Silent Stress of Sending Money Home<\/strong><\/h2>\n\n\n\n

According to the World Bank<\/a>, Nigerians abroad sent over $20 billion home last year, one of the highest remittance flows in Africa. But sending that money isn\u2019t the problem. It\u2019s how we send it.<\/p>\n\n\n\n

Traditional banks move extremely slowly, from the long queues to your money being in transit for 3 – 5 working days. You send $100, and after conversion, fees, and hidden charges, the recipient gets \u20a6110,000. Meanwhile, the actual black market rate would\u2019ve given her \u20a6140,000. That \u20a630,000 difference is quite a huge sum of money that would have been avoided if you used the right app. <\/p>\n\n\n\n

But with Yolat, you don\u2019t have to worry about hidden fees or charges because what you see on our website is what you\u2019ll get. No extra deductions as soon as you tap on send. <\/p>\n\n\n\n

Cheapest Ways to Send Money to Nigeria <\/p>\n\n\n\n

We\u2019ve rounded up the real cheapest ways to send money to Nigeria in 2025,  the good, the bad, and the ones that deserve to be deleted from your phone, before showing you why Yolat is the one platform rewriting the rules in the fintech space. <\/p>\n\n\n\n

1. Bank Transfers<\/strong><\/h3>\n\n\n\n

Let\u2019s start with the good, old bank-to-bank route. This is a way that most of us are family with and what most people used to do before fintech took over the banking space. You simply walk into your bank, fill out forms and wait in a long queue until you\u2019re attended to. <\/p>\n\n\n\n

Pros:<\/strong><\/p>\n\n\n\n