1.5–2.5% — Typical Remitly exchange rate margin on USD→NGN (Economy tier)
| Feature | Wise | Remitly Economy | Remitly Express |
|---|---|---|---|
| Transfer fee | ~$5.50 (1.1%) | $2.99 | $4.99–$9.99 |
| FX markup | 0% (mid-market) | 1.5–2.5% | 1.5–2.5% |
| Estimated total cost | ~$5.50 | ~$10–15 | ~$14–20 |
| Transfer speed | 1–2 business days | 3–5 business days | Minutes–hours |
| Bank deposit in Nigeria | Yes | Yes | Yes |
| Cash pickup | No | Yes (via partners) | Yes (via partners) |
| Transfer limit | $1,000,000/yr | $2,999/day (unverified) | $2,999/day (unverified) |
| First transfer promo | No promo fee on first | First transfer fee-free | First transfer fee-free |
$0 — Wise FX markup on any corridor including USD→NGN
| Provider & Tier | Upfront Fee | FX Cost (est.) | Total Cost | NGN Received (approx.) |
|---|---|---|---|---|
| Wise | $11.00 | $0 | $11.00 | ~NGN 1,595,000 |
| Remitly Economy | $2.99 | ~$20 (2%) | ~$22.99 | ~NGN 1,567,000 |
| Remitly Express | $9.99 | ~$20 (2%) | ~$29.99 | ~NGN 1,558,000 |
| Bank wire (SWIFT) | $35–50 | ~$30 (3%) | ~$65–80 | ~NGN 1,490,000 |
$3–6 — Typical total cost via USDC on Stellar for a $500 USD→NGN transfer
| Provider | Fee | FX Markup | Total Cost | Speed | Ease of Use |
|---|---|---|---|---|---|
| Wise | ~$5.50 | 0% | ~$5.50 | 1–2 days | Very easy |
| Remitly Economy | $2.99 | 1.5–2.5% | ~$10–15 | 3–5 days | Very easy |
| Remitly Express | $4.99–9.99 | 1.5–2.5% | ~$14–20 | Minutes–hours | Very easy |
| USDC on Stellar (Quidax) | $1–3 | ~0.3% | ~$2–5 | Under 2 hours | Moderate |
| Bank wire (SWIFT) | $35–50 | 2–4% | ~$50–65 | 2–5 days | Easy |
Wise is cheaper for most amounts above $100. Wise charges ~1.1% with no exchange rate markup, while Remitly Economy charges $2.99 but embeds a 1.5–2.5% margin in the exchange rate. On a $500 transfer, Wise costs ~$5.50 total versus ~$10–15 for Remitly Economy. Use RemitRoutes to compare live rates for your exact amount.
Wise transfers to Nigerian bank accounts typically take 1–2 business days. This is faster than Remitly Economy (3–5 days) but slower than Remitly Express (minutes to hours) or crypto rails on Stellar (under 2 hours).
Yes. Remitly Express supports cash pickup through partner agent networks in Nigeria, which Wise does not offer. If your recipient does not have a Nigerian bank account or prefers cash, Remitly is the better choice for that reason.
Wise supports transfers up to $1,000,000/year after full identity verification. Remitly limits unverified accounts to $2,999/day; higher limits require additional documentation. For large or regular transfers, Wise's higher limits are an advantage.
Yes — USDC on Stellar via Quidax. You send USDC from Coinbase or Gemini over the Stellar network (fee: ~$0.00001) and your recipient sells it on Quidax for NGN. Total cost is typically $2–5 on a $500 transfer, cheaper than both Wise and Remitly. The tradeoff is that your recipient needs a Quidax account and basic exchange familiarity.
Compare live rates across 370+ corridors on RemitRoutes · methodology.