Sending money to Africa has become easier over the past decade, but the cost difference between services remains significant.
The cheapest option for your specific transfer depends on where you’re sending from, where the money is going, how much you’re moving, and how quickly it needs to arrive.
Understanding how these services make money helps you avoid overpaying. Some charge upfront fees with transparent exchange rates. Others advertise zero fees but mark up the exchange rate.
The total amount your recipient receives matters more than how the costs are structured.
This guide breaks down the services by category and explains what to look for when comparing options.
Digital-first remittance platforms
These companies operate primarily online and through mobile apps. They tend to have lower costs than traditional services because they don’t maintain physical locations.
Africhange
Africhange operates across key remittance corridors from Canada, the UK, and Australia into West and East Africa, with a focus on cost efficiency and speed.
Part of Africhange’s appeal lies in its regulatory footing. Its Nigerian subsidiary holds an International Money Transfer Operator licence from the Central Bank of Nigeria, which allows the company to process remittances directly rather than through third-party intermediaries.
This structure shortens settlement timelines and reduces avoidable costs once funds are received in Nigeria.
Africhange currently supports transfers from Canada to Nigeria, as well as to other markets including Ghana, Kenya, Benin, Togo, and Senegal. The platform also supports multiple currencies on both the sending and receiving sides, which makes it easier to manage cross-border payments without constant conversion headaches.
LemFi
LemFi has emerged as one of the fastest‑growing platforms for remittances to Africa. It combines low cost with a smooth app experience that works well for people sending money from North America, the UK, and Europe.
Users open an account, verify their identity, and then send money directly to bank accounts or mobile wallets in countries like Nigeria, Ghana, Kenya, Cameroon, Senegal, and others. Most corridors carry zero transfer fees, and many transfers arrive within minutes.
You can hold balances in US dollars, British pounds, Canadian dollars, and other major currencies, then convert and send at competitive exchange rates.
The platform is regulated in the UK and Canada and holds licences to operate remittances into key African markets. Funds typically reach a recipient’s bank or mobile wallet in minutes. A loyalty or rewards component may appear, providing additional value for frequent senders.
Remitly
Remitly is one of the long‑standing players in cross‑border money transfers. It operates through a simple app and web interface that walks you through sending money step by step. When you use Remitly you choose between two ways to send. One option keeps fees low but takes a little longer.
The other delivers faster if timing matters more than cost. You can fund transfers with a bank debit or credit card, and your recipient can get money straight into a bank account or popular mobile money wallets used in many African countries.
WorldRemit
WorldRemit is similar to Remitly but supports a wider range of payout methods in many countries across Africa. In addition to bank deposits and mobile money, WorldRemit sometimes offers cash pick‑up options at local partners if the recipient prefers that. The interface is straightforward. You enter the amount, pick where you are sending it, choose how the recipient will collect the cash, and the app shows fees and delivery times before you confirm.
WorldRemit tends to settle transfers within a few hours for most corridors, though it can vary by country and bank processing times.
Wise
Wise focuses on transparency and cost efficiency. Unlike many banks or money transfer services, it uses the real mid‑market exchange rate and charges a single, upfront fee. This means the recipient gets the exact amount shown before you confirm the transfer, without hidden markups.
Wise is particularly suitable if keeping costs low is your priority, and you can wait for the transfer to process. Delivery times vary depending on the destination bank, but most transfers arrive within a few hours to a couple of days. The platform supports multiple currencies and countries, making it convenient for repeat transfers with predictable pricing.
Traditional networks
These established services have extensive physical networks across Africa. They’re useful when recipients need cash pickup or live in areas without reliable banking infrastructure.
Western Union
Western Union has one of the largest agent networks in Africa, making it a reliable option for recipients who may not have access to a bank or mobile money account. The service supports cash pickup, bank transfers, and mobile money in many countries.
Cash pickup is fast, often available within minutes, but it is more expensive than other payout methods. Bank transfers and mobile money can be cheaper, though delivery times may vary depending on the destination and local partners. Fees are generally higher than digital-first platforms, and exchange rates include a markup.
You can send money through the Western Union website, mobile app, or at a physical agent location. Online bank transfers are typically less costly than cash pickup, making them the better option when speed is not the top priority.
MoneyGram
MoneyGram operates across Africa with a large agent network, covering many urban and semi‑urban areas. The service allows recipients to collect cash quickly, often within minutes or a few hours, though timing can vary depending on the location.
Transfers can be sent online, via the MoneyGram app, or at agent locations, including major retailers. In addition to cash pickup, the platform supports bank transfers and mobile money in many countries. Fees for cash pickup are sometimes slightly lower than Western Union, but the cost depends on the sending corridor and payment method.
MoneyGram provides a reliable alternative for recipients without bank accounts or mobile wallets, while also offering multiple ways to receive funds for those who prefer digital options.
Mobile Money and regional platforms
Mobile money has transformed how people send and receive money in Africa. In several countries, more adults now have mobile money accounts than traditional bank accounts. This widespread adoption has made it easier to move money quickly, securely, and without relying on banks.
Mobile Money overview
Mobile money lets people receive, store, and spend money using just a mobile phone, without needing a bank account.
Major providers include M‑Pesa in Kenya and Tanzania, MTN Mobile Money across several countries, Orange Money in West Africa, and Airtel Money in multiple markets.
Most international transfer services now support sending money directly to mobile money accounts. This method is often faster and cheaper than using bank transfers or cash pickup, making it a popular choice for both senders and recipients in some countries.
Wave
Wave is a mobile money platform that operates in Senegal, Côte d’Ivoire, Burkina Faso, Mali, and Benin. Transfers from the US to Wave accounts typically carry no transfer fees. The exchange rate is the main cost for the sender.
Recipients need a Wave account to receive funds, and creating one is straightforward. Wave functions as both a transfer service and a mobile money wallet, allowing users to send, receive, and spend money through the app.
Coverage is currently limited to the West African countries where Wave operates, but within those markets, the platform is fast, simple, and easy to use.
Sending money to Africa is more efficient now than it was years ago. Digital platforms are driving down costs and forcing greater clarity in pricing. Whether you prioritise cost, speed, or convenience, there are options that fit your needs. Check fees and exchange rates before you hit send, and choose the right tool for your corridor and frequency.
