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  There’s no shortage of inexpensive digital platforms supporting local transactions. But when it comes to cross-border payments, Nigerians have to part with significant fees just to send and receive money. Most of the better-known options for international transfers charge a good chunk of their users’ funds. Others offer services so limited, utilizing them can be quite a challenge.
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Thankfully, there are lower-cost alternatives springing up, which are also more convenient than traditional channels. They include a number of solutions built by Nigerians who understand how important remittances have become to millions of Nigerians. We’ll go over six such apps in this article. Here they are:


Founded in 2021 by Emmanuel Ogidi, Transfy is principally concerned with connecting Africans, allowing them to carry out financial transactions with people elsewhere on the continent. It currently supports payments between 7 African countries and in their local currencies (including the Ghanaian Cedi and Kenyan Shilling). Thanks to its mobile money feature, users can save and exchange funds without engaging in several bank accounts. The app also promises a user-friendly interface that makes transactions easier and bank-level security for user data.

Lemonade Finance

Lemonade Finance lets you send and receive money across 20 countries free of charge. With it, you can open US Dollar, Canadian Dollar, British Pound and Nigerian Naira accounts, and convert currencies at no cost to you. It also doesn’t charge monthly or subscription fees and promises high-level security for its users’ funds. The startup behind this solution was set up in 2020 by Olalere Ridwan and Rian Cochran.


Afriex makes it possible to transfer money across North America, Europe, and Africa. That covers plenty of territories inhabited by the Nigerian diaspora, who need fast and efficient ways to remit funds to their family and friends back home. The platform allows you to send up to $3,000 to bank accounts and e-wallets daily. It attracts no transfer fees and assures users of end-to-end encryption for their transactions. Afriex came on the scene in 2019; its founders are Tope Alabi (CEO) and John Obirije (CTO).
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Send by Flutterwave

Floated by FinTech giant Flutterwave in 2021, Send is a channel through which anyone in Nigeria, the US, the UK, Germany, Kenya, Ethiopia, Cote D’Ivore, and two dozen other countries can send and receive money across borders. Funds can be delivered to local bank accounts within minutes. Cards used on the platform can be saved, so that future transactions are quicker and seamless.


Since its founding in 2020, Africhange has enabled numerous Africans in the diaspora—especially in Canada –to send money to their loved ones on the continent. The team at Africhange says they aim to extend this service to other parts of the world within the next few years. With it, users can schedule transfers, request money from friends and family, and compare rates over time. Africhange was launched by Tega Ogigirigi in 2020.


Anyone who uses Kyshi can swap currencies like the US Dollar, British Pound, and Nigerian Naira with peers across borders. The service is available in more than 20 countries, including the US, UK, Nigeria, Ghana, Ethiopia, Rwanda, and Zambia. It takes just a few minutes to open a multi-currency account on the app. Users who refer colleagues and relatives to the platform can earn up to ₤140 for doing so. There are charges for some services, but they do not exceed 3% of the funds involved. Kyshi was founded in 2020 by Ayo Akindele.
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Final Words

International money transfers do not have to be difficult or expensive. If you’re well informed about the growing options for transacting beyond national borders, you’ll know at least a few that offer you this service at little or no fees. This article has just presented you with six such alternatives. It’s up to you to choose one that meets your unique needs. Featured Image Source: Trevipay
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This article was first published on 4th March 2023


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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