How to choose a way to send money to Nigeria: 6 things to check

There is no single right way for everyone. The right choice depends on how much you send, how you pay, how your recipient receives it, and how much you trust the company. This guide gives you 6 checks. Use them on any provider, including us.

1. The amount your recipient gets

Start here. A low fee can hide a poor rate. A good-looking rate can come with a fee.

So do not look at the rate alone. Type the same amount into each option. Write down how many naira (NGN) your recipient would get. Compare those numbers.

Make sure each quote is for the same amount, the same way of paying, and the same way of receiving. Note the time of each quote. Rates move, so a quote from this morning may differ from one this evening.

2. The fee, shown before you pay

Ask: what do I pay in total? A trustworthy provider shows the total before you confirm. You should not find a new charge after you pay.

On SendCowris, there is no fee on any route. Your own bank may charge a fee for an Interac e-Transfer. Check your bank's price list for any provider you use.

3. How you pay

Ask how you pay, and what that costs you.

SendCowris takes Interac e-Transfer from your own Canadian bank account. We do not take card payments. We do not pull money from your account on our own. You make the e-Transfer yourself.

Think about what suits you. Some people like to pay from a bank app. Others like a card. Pick what you are comfortable with. Also check that the way you pay has no extra cost for you.

4. How your recipient receives the money

Ask: does the money go to a bank account, a wallet, or a cash pickup point? And do you have the details you need?

On SendCowris, naira goes to a Nigerian bank account. You need the bank name and the 10-digit account number. The app looks up the account name. You check it against your recipient's name before you pay. See how to check a Nigerian bank account before you send.

5. Rules, registration and identity checks

In Canada, a business that sends money for others must register with FINTRAC as a money services business (MSB). FINTRAC is the federal agency that oversees this work. You can search the public MSB registry on the FINTRAC website.

Registration is a legal requirement. It does not mean FINTRAC approves or endorses a business. So also use your own judgement.

Expect an identity check. A real provider must know who you are. On SendCowris, you verify once with a government photo ID and a selfie. The app says it takes about 3 minutes. If a provider skips this entirely, ask why.

For more on what registration means, read is SendCowris safe? What FINTRAC registration means.

6. Timing and support

Ask what the provider says about timing, and where the answer comes from. Be careful with any promise of a fixed time with no date or route. Real timing depends on the route, banks and time of day.

On SendCowris, you can follow every transfer step by step in the app: Waiting for your payment, Payment received, Sending to recipient, and Completed.

Also check how you reach support when something goes wrong. Look for a real email address and a way to contact them in the app. Ours is help@cowris.com. Include your transfer code and a screenshot of your payment when you write.

Red flags

Walk away if you see any of these:

• A promise of a guaranteed rate for days or weeks.
• A request for your password, a code we text you, or your PIN. We will never ask for these.
• Pressure to send money right now.
• A request to pay from someone else's account, or into a personal account you do not know.
• No company name, no address, and no registration number.

For more, read how to spot a fake transfer or payment scam.

A short checklist

Copy this list and use it each time:

1. Same amount, same time: what does my recipient get in naira?
2. What is the total I pay?
3. How do I pay, and what does my bank charge?
4. How does my recipient receive it, and do I have their details?
5. Is the company registered, and does it check my identity?
6. How do I contact support, and what does it say about timing?

Try the checks on us

Do the same sums in the SendCowris app. Type your amount, see what your recipient gets, and compare. You do not need to send to look.

Get the SendCowris app

FAQ

What should I compare when I send money to Nigeria? Compare the amount your recipient gets in naira, the fee, how you pay, how they receive it, what the provider tells you about timing, and how to reach support.

How do I check that a company is registered in Canada? Search the public Money Services Business registry on the FINTRAC website. Registration is a legal requirement. It is not an endorsement.

Is the rate the only thing that matters? No. The rate is one part. Look at the final naira amount after any fee.

What is a red flag? Be careful with any promise of a guaranteed rate or speed, any request for a password or code, and any pressure to send money fast.

SendCowris is run by Cowris Technologies. Last updated 30 October 2026.