Send money overseas with Bancoli to take advantage of bank-beating exchange rates

Compare today's NGN to XOF (Nigerian Naira to CFA Franc BCEAO) exchange rates

Nigeria
Benin
NGN
Interbank Exchange Rate: 1 NGN = 0.3902 XOF
Updated about 1 hours ago

Found 1 Remittance Service Providers

verto
Read more about Verto
(*)★★ (*)★★ (*)★★ (*)★★ (*)★★
1000 NGN =
386.60 XOF
Transfer Limit (NGN): No Limits
Indicative Rate1 NGN = 0.3866 XOF

📢 B2B transfers only

If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.





All you need to know about Nigerian Naira to CFA Franc BCEAO money transfers

Easily compare money transfer providers in one place to send money from Nigeria to Benin. Send money overseas to your loved ones by comparing Nigerian Naira (NGN) to CFA Franc BCEAO (XOF) remittance exchange rates. Read remittance service provider reviews and check out deals, promotions and discounts. Transfer online or send cash based on services offered by these providers.

RemitFinder compared 1 money transfer operators to get you the best FX rates to send money from Nigeria to Benin.

The best rate to send CFA Franc BCEAO from Nigerian Naira to your loved ones in Benin is currently offered by Verto; their 1 NGN to XOF exchange rate today is 0.3866.

Were you looking to send money from Benin to Nigeria instead?

Did not find the providers you were looking for? Please reach out to us at info@remitfinder.com, and we will do our best to add them to our platform.

If you need to send international business money transfers and payments, get in touch with us to see how we can help protect your revenue.


Latest NGN to XOF Conversion Rates

Here are some latest NGN to XOF (Nigerian Naira to CFA Franc BCEAO) exchange rates for popular conversion amounts*.

1 NGN0.39 XOF
5 NGN1.95 XOF
10 NGN3.90 XOF
25 NGN9.75 XOF
50 NGN19.51 XOF
100 NGN39.02 XOF
150 NGN58.53 XOF
200 NGN78.04 XOF
250 NGN97.55 XOF
300 NGN117.06 XOF
400 NGN156.08 XOF
500 NGN195.10 XOF
600 NGN234.12 XOF
700 NGN273.14 XOF
800 NGN312.16 XOF
1,000 NGN390.20 XOF
1,500 NGN585.30 XOF
2,000 NGN780.40 XOF
2,500 NGN975.50 XOF
3,000 NGN1,170.60 XOF
4,000 NGN1,560.80 XOF
5,000 NGN1,951.00 XOF
10,000 NGN3,902.00 XOF
15,000 NGN5,853.00 XOF
20,000 NGN7,804.00 XOF
30,000 NGN11,706.00 XOF
40,000 NGN15,608.00 XOF
50,000 NGN19,510.00 XOF
100,000 NGN39,020.00 XOF

*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.


What's the best way to send money from Nigeria to Benin?

Foreign exchange rates fluctuate by the second, much like equities listed on the stock market. Given that, it might seem like a daunting task to determine the best timing to transfer money from Nigeria to Benin. We ensure that you are getting the best rate and sending money at the right time with trusted money transfer companies when you transfer Nigerian Naira to XOF.

You can rely on RemitFinder to do the hard work of searching for the best companies specializing in sending money abroad for you. Our remittance comparison platform helps you spot the best options to send NGN to XOF in Benin. Every company listed on our site is an established business that our team evaluates to make sure you get access to the best exchange rates.

With RemitFinder, you can also take advantage of numerous offers and discounts that our partners provide to maximize the power of your money transfers to Benin from Nigeria. We provide you with maximum choices to send money to Benin by comparing competing money transfer companies thereby making you the winner in the end.


How to get the best rate to transfer money to Benin from Nigeria?

Just like the cryptocurrency market, the foreign exchange market is constantly fluctuating. On top of that, there are so many new service providers on the global remittance landscape. This may make it hard for remitters to find the best ways to send money to Benin from Nigeria.

At RemitFinder, we have tried to solve this exact problem - how to give you access to good choices for your NGN to CFA Franc BCEAO remittances. We do all the hard work to search and compare numerous multi currency banks, foreign exchange services, remittance service providers, etc., to ensure you can use the best possible vehicles to send money overseas.

You can also register for our daily rate alert to stay aware of the latest exchange rates for NGN to XOF remittances. Our rate alert is totally free, and is a great way to save your previous time and make the most of your hard earned money. We do the hard work so you do not have to manually search and compare money transfer companies.


What's the cheapest way to send money to Benin from Nigeria?

While there are numerous ways to send money overseas, many come with steep fees and hidden charges that will make a big dent in your hard earned money. For example, if you send money from Nigeria to Benin via a bank, you will typically get charged high wire transfer fees. Often, both the sender and the recipient have to pay high fees for bank wire transfers.

A sure way to find the most cost effective way for Nigerian Naira to CFA Franc BCEAO remittances is to compare various foreign exchange operators out there. But, doing this manually is hard and time consuming. You may miss out on great rates from other providers that you may not even be aware of. This is especially relevant given the explosion of Fintech startups operating in the international money transfer arena.

Use RemitFinder to compare numerous remittance service providers in a single screen to easily see which companies are good at what and meet your selection criteria for getting the best Nigeria to Benin exchange rate.

Another sure shot way to reduce your cost and maximize the return on your money is to take advantage of deals and discounts our partners provide to RemitFinder users like you. We are constantly adding new providers, so make sure to regularly check in to see which money transfer options are the cheapest for NGN to XOF remittances.


Should I use my bank to transfer money from Nigeria to Benin?

There are two distinct ways that banks make money on international funds transfers. First, by charging steep transaction fees, and second, by providing a low NGN to XOF exchange rate. Sometimes, the actual transaction fee may not be that high, but the rate may be much lower, which essentially means a hidden fee as the cost of the transfer for you still goes up.

Since your obvious goal is to make the most of your hard earned money, you would want to ensure that the receiver of your money gets the maximum amount. One simple way to achieve this is by minimizing the fees on Nigeria to Benin money you send. And, generally, you will not get low fees with banks. Hence, we recommend relying on our real time online money transfer comparison tool to ensure you can compare many options.

Most of the remittance companies today offer bank to bank transfers for sending money to Benin from Nigeria. They do this by letting you fund your transaction through your local bank account in Nigeria, and by allowing you to choose the payout to be your recipient's bank account in Benin. But, you are likely to get much better rates and lower fees compared to your bank.


How to send money from Nigeria to Benin fast?

How fast your money arrives at its destination is one of the key factors to consider when sending funds internationally from Nigeria to Benin. This is especially relevant if you are up against time and need to send money urgently. Every once in a while, we all get into that situation, so it's good to be aware of what to do.

To help you convert NGN to XOF fast, we recommend reading up on our "all you need to know about remittances" guide. This is a comprehensive document that will help you understand so many factors that affect the speed of your money transfers, and therefore, pick the providers that can execute your transaction fastest.

If speed were the only factor to consider, and sometimes it is for emergency needs, cash transfers may be your best bet as there are no bank to bank transactions involved which will certainly introduce a lag in your Nigerian Naira amount reaching Benin. On the flip side, carrying cash is risky. Additionally, cash transactions go with a lower exchange rate; this helps providers cover the expenses needed to maintain physical office locations needed to process cash.

Hopefully, you do not find yourself in a crisis where you have to rush CFA Franc BCEAO quickly to Benin, but in case you do, now you know how to evaluate various funds transfer operators to choose the fastest one.


Which are the best money transfer companies to send money to Benin from Nigeria?

Comparing money transfer companies for sending money to Benin from Nigeria can be challenging, especially given the number of options out there. But, if you are armed with the right knowledge, it will help you make a more informed decision and, therefore, make the most of your hard earned money.

There are various areas you would want to inspect when evaluating these providers to gauge the best fit for sending money overseas to Benin. How much do you want to send? Some companies deal with only small amounts, while others specialize in larger ones. Are you OK paying a fee for your Nigerian Naira to CFA Franc BCEAO transfer or you will only go with 0 fees? How about exchange rates? Can you send money using non-fixed or indicative rates?

Once you start applying these conditions to the list of choices you see, you can start to eliminate companies that do not match any of your preferences. This will help fine tune the list to a small number. Finally, keep an eye on promotions and discounts as they will help maximize the CFA Franc BCEAO yield on every Nigerian Naira that you send.


Step by step guide to send money to Benin from Nigeria

Follow the below easy steps to send money to Benin from Nigeria.

  • If you are sending money for the first time with a provider, register an account with them. You will likely get a validation email, and optionally a validation text on your mobile as well. This ensures that it is indeed you who is creating your account.
  • You will also need to provide your national ID with a photo, and proof of address. Providing this information ensures the security of your account and helps in fraud prevention.
  • Add your payment method - this is how you pay for your transfer. Generally, you would want to use your Nigeria bank account to fund your transaction.
  • Add your recipient - provide details about who will receive the funds (can also be your own account in Benin).
  • Specify delivery method - specify how the recipient will get the proceeds. Choosing a bank account is usually the best, if one is available.
  • Add the transfer amount and start the transaction.

The provider will then work on your NGN to XOF remittance, and you should not have any additional action to take. Keep an eye on your email inbox as you should get notified about the progress of your transaction.

Whilst it's fairly straightforward to make an actual foreign exchange transaction online, the harder part may be choosing the right company for your overseas bank transfer. This is where you can rely on RemitFinder's expertise in the money transfer space to help you select the best remittance provider.