How to send money to Benin from Nigeria with the best NGN-XOF rate

A comparison of providers offering services between Nigeria and Benin, based on your specific transfer amount is the best way to send money with the confidence you’re getting the best price.

Right now, converting NGN to XOF is:

• Western Union Agent is our recommended company for sending money to Benin from NGN. Sending 360,000 NGN to XOF will cost you ₦10800 in fees, and you will receive 136,229.62 XOF. The delivery time usually is minutes - 5 days, but can be longer depending when you make the transfer.

• MoneyGram Agent offers the lowest cost transfers between Nigeria and Benin out of the 3 providers compared.

• Fastest money transfers option to Benin from Nigeria is via PayPal App (P2P Transfer). For example, if you send 360,000 NGN with PayPal App (P2P Transfer) to Benin, the transfer time is minutes.

We’ve compared 3 providers that provide services for sending Naira to Benin. This ensures you will get the best options for your transfer to Benin from Nigeria.

An exchange rate determines the price you will pay when buying CFA Franc BCEAO. A better exchange rate means more money sent from Nigeria to Benin.

The current rate between the Naira and CFA Franc BCEAO is 0.4211, and it changes almost constantly.

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from Nigeria to Benin.

• The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more CFA Franc BCEAO for your Naira. The current NGN-XOF mid-market rate is 0.4211 XOF per Naira.

• Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Naira you’re sending to Benin. MoneyGram Agent currently is the cheapest option for transfers into XOF costing 14400 NGN per transfer. We always recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in CFA Franc BCEAO is the biggest indicator of the total cost of sending money to Benin from Nigeria. The bigger the amount received in Benin, the lower the overall cost of sending from Nigeria.

Understanding the averages, and then waiting a day or two can help you get more XOF for the same amount of Naira.

A better option is to use a forward contract that also allows you to lock in an agreed exchange rate between Nigeria and Benin.

A bank transfer is the payment method that will get you the best price on a transfer from Nigeria to Benin.

Here are all the ways to send money from Nigeria to Benin:

Bank transfers

Bank transfers are often fastest, cheapest and best way to send money from Nigeria to Benin.

Using a money transfer company such as MoneyGram Agent for transfers from Nigeria to Benin, will mean being able to send money via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

Sending money from Nigeria to Benin with a debit card or a prepaid card is very simple with Western Union Agent.


Western Union Agent is the cheapest option for sending money with a debit card between Nigeria and Benin. This is of the 3 money transfer companies offering debit card payments on this route.

Credit cards

When it comes to credit card transfers from Nigeria to Benin, we recommend comparing your options to get the best deal.

and have different regulations and ensuring you fully understand these regulations will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Nigeria and Benin

Some companies offering money transfers between Nigeria and Benin have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare NGN-XOF rates for your specific transfer amount. For regular transfers to Benin, shopping around each time can make a huge difference.

For sending large amounts of NGN to Benin, we’d recommend Western Union Agent. They offer a solid combination of rates and fees when sending from Nigeria to Benin that is the most competitive, even at larger amounts.

There are different options for receiving CFA Franc BCEAO in Benin. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from Nigeria to Benin will offer every method for incoming CFA Franc BCEAO, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from Nigeria to Benin. For most part, this is because it means the recipient has to do very little.

Western Union Agent is the best company for bank transfers between Nigeria and Benin.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like MoneyGram Agent.

When sending Naira to Benin, through a money transfer company, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need a couple of options.

For the most part, ID can be verified in Nigeria through a government issued ID such as a passport or driver's license. If the recipient needs an ID to collect money in Benin it will be similar.

Large transactions between Nigeria and Benin, can be subject to additional checks such as proof of funds for anti-money laundering purposes.

One of the reasons Western Union Agent has scored so highly for transfers to Benin is their easy sign up process in Nigeria.

As well as proof of funds, when sending large amounts of money between Nigeria and Benin.

Some transfers into CFA Franc BCEAO may need to be reported to tax authorities in Benin as well, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Benin based on age, income and a few other elements. When in doubt, please contact a tax professional in Nigeria or Benin to discuss your personal circumstances to ensure you are not missing any specific tax declarations.