What is the
best Send Money conversion rate for USD to NGN?
The best USD to NGN exchange rate is 1513.22 from Wise.
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
St George Bank - Dollar to Naira comparison table
makes it easy to compare the Total Fees (both variable and fixed) you are being charged by
St George Bank and other foreign exchange providers against the latest USD-NGN mid-rate and the possible savings of using various providers.
How do St George Bank USD-NGN rates compare between 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 1513.22.
The next best is Western Union at 1498.75.
Then WorldRemit at 1486.57, .
Among the banks the Chase Bank rate is -82.7836 the Wells Fargo Bank rate is -91.9223 and the Citibank rate is -21.8588 compared to the mid-rate 1,523.1.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally,
banks like St George Bank 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.