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When PayPal converts currency, its transaction exchange rate includes a spread retained by PayPal. Payment, international or card-funding fees can apply separately.
Pricing differs by account market and transaction. Xoom is a separate PayPal remittance service with its own fee, exchange rate and payout methods.
For US personal accounts, PayPal currently lists a 4% conversion spread for payments into another currency and 3% for other conversions, unless another amount is disclosed. International personal-payment and card-funding fees can also apply.
These are US examples, not global PayPal pricing. Check the fee page attached to the account country and review the rate shown before confirming.
Eligible card-funded payments may offer a choice between PayPal conversion and card-issuer conversion. The card issuer controls its own rate and fees.
PayPal balance activity can appear quickly, but withdrawals and banking times vary. For bank deposits, cash pickup or mobile-wallet remittances, review the separate Xoom quote and delivery estimate.
The best USD to NGN exchange rate is 1372.04 from Wise. This is -0.65% compared to the mid-market rate 1,381.0.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Nigerian naira (NGN) rates from different sources before making a conversion.
The above PayPal - Dollar to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by PayPal and other foreign exchange providers against the latest USD-NGN mid-rate and the possible savings of using various providers.
Looking at the full USD to NGN - Send Money comparison table the provider with the best USD to NGN exchange rate is Wise at 1372.04, -0.65% from the latest mid-market rate 1,381.0.
The next best is Western Union at 1353.4, -2% from the mid-rate.
Among the banks the Chase Bank rate is -74.9681 at -105.4% the Wells Fargo Bank rate is -83.2542 at -106% and the Citibank rate is -19.7273 at -101.4% compared to the mid-rate 1,381.0.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency: