How to send money overseas from Africa [2026]
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Need to send money overseas from Africa? This guide covers the main methods available and the factors to consider before choosing
Key takeaways
- Three main methods are available: bank transfers, online money transfer services, digital wallets, and multi-currency accounts.
- The true cost of an international transfer includes the transfer fee, the FX markup and any intermediary bank fees
- Transfer speed depends on whether SWIFT or local payment rails are used. SWIFT transfers typically take two to five business days; local rails can be same-day
- Multi-currency accounts like the World Account let users hold, receive, and send funds in multiple currencies at competitive exchange rates
Sending money overseas is a routine requirement for businesses and individuals across markets like Nigeria, Kenya, Morocco, and Ghana. Whether the purpose is paying overseas suppliers, settling import invoices, or managing payroll for global employees, the experience and fee can vary widely depending on the route chosen.
Many transfers may end up costing your business more than expected once FX markup and intermediary fees are accounted for. Speed varies too as some providers may offer same-day transfers on some corridors, others may take several business days.
In this guide, we cover the top ways to send money overseas from Africa and the main factors to compare before choosing.
Common ways to send money overseas from Africa
Let’s take a look at the top options available to businesses in Nigeria and Morocco when sending money overseas
Bank transfers
Bank-to-bank wire transfers, typically routed through the SWIFT network, are the most established way to send money overseas. Funds move from a local bank account (or a domiciliary account, which is a foreign currency account held at a local bank) directly to a recipient’s bank account abroad.
Most local banks offer SWIFT-based international transfers and many also support domiciliary accounts in major currencies such as USD, GBP and EUR.
With bank transfers, the total cost of the transaction usually includes a transfer fee, an FX markup embedded in the bank’s exchange rate and possibly even intermediary bank charges. That means the total amount received by the recipient could end up being lesser than what you send and there’s no way of knowing exactly how much they will receive until the amount actually lands in their bank account. Processing times can also vary a lot.
To send money to an overseas bank account through this route, the sender needs the recipient’s bank details, including the SWIFT or BIC code, the account number or IBAN, and supporting documentation as required by local foreign exchange regulations.
Pros
- Widely available as most local banks in African markets support international wire transfers
- Established infrastructure with SWIFT coverage to most countries
- Suitable for larger transfers
Cons
- Transfer fees and FX markups are typically embedded in the bank’s exchange rate, making the total cost less visible
- Intermediary bank fees may be deducted en route, reducing the final amount received
- Processing times of two to five business days for SWIFT transfers, sometimes longer
Online money transfer services
Online money transfer services are digital-first platforms that specialise in cross-border transfers. They typically offer faster processing than bank wire transfers, often same-day, along with transparent pricing.
Most services let users fund a transfer using a bank account, debit card or digital wallet, and disburse to the recipient via local payment rails, a bank account or, in some African markets, directly to mobile money. Fees and FX markups vary by service, currency pair, amount and corridor.
Pros
- Multiple funding methods supported, including bank account, debit card and digital wallet
- Some services disburse directly to mobile money in African markets
- Most online money transfer services offer transparent pricing
Cons
- Fees and FX markups vary by service, currency pair, amount and corridor
- May cover limited number of currencies or regions
Multi-currency accounts
A multi-currency account lets users send money overseas in multiple currencies at competitive exchange exchange rates, receive funds into local currency accounts, and hold funds until they have decided what to do with it. These accounts are typically aimed at businesses, freelancers and individuals with recurring international payment needs.
Pros
- Hold funds in multiple currencies without forced conversion on incoming payments
- Get local account details in each supported currencies to receive payments like a local
- Convert received funds into the sender’s currency at competitive exchange rates, or use the held balance to make onward payments in the same currency without a double conversion
- Suitable for businesses with recurring international payment needs
Cons
- Less widely available than bank accounts in some African markets
- Coverage of supported currencies and corridors varies by provider
The World Account is a multi-currency account built for global businesses
WorldFirst is an international payments provider that helps businesses manage cross-border payments. The World Account is its multi-currency account that lets businesses open local currency accounts in 15+ major currencies, including USD, GBP, EUR, CNH, AUD and NZD. You can also send money overseas in 100+ currencies across 200+ countries.
Funds can be received from overseas customers, marketplaces and partners as if the payment were domestic, then held in the original currency or converted at competitive exchange rates. With WorldFirst’s Full Value Transfer, the recipient receives the full amount without intermediary deductions on supported routes. Free and instant transfers are also available between World Account holders.
The account includes multi-user access for teams, ERP integration for reconciliation, and the option to issue up to 20 World Cards, which is a Mastercard-powered virtual business payment card at no additional cost for online spending.
Key features of WorldFirst
- Open local currency accounts in 15+ major currencies including USD, GBP, EUR, CNH, AUD and NZD
- Send payments in 100+ currencies across 200+ countries and regions
- Receive payments without forced conversion to local currency
- Free and instant transfers between World Account holders
- Up to 20 Mastercard-powered virtual business payment cards at no additional cost
- Xero and NetSuite integration for reconciliation
- Multi-user access with separate permission levels
Main fees
- Monthly account fee: Zero
- Opening local currency accounts: Zero
- Receiving funds: Zero
- Holding funds in multiple currencies: Zero
- Sending payments to other World Account holders: Zero
- Sending payments to other accounts: Competitive rates apply
- Currency conversion: Competitive rates apply
- Getting a World Card: Zero for card issuance
Fees checked in June 2026. Terms and Conditions Apply.
FAQ
What is the cheapest way to send money overseas from Africa?
The cost of an international transfer depends on more than the headline fee. The total cost includes the transfer fee, the FX markup applied to the exchange rate, and any intermediary bank charges deducted en route. The option with the lowest visible fee is not always the cheapest in practice. The most reliable way to assess true cost is to compare what the recipient actually receives across providers, not just what the sender starts with.
How long does an international transfer from Africa typically take?
Transfer times vary by method and corridor. SWIFT-based bank wire transfers usually take two to five business days, and longer for less common corridors. Online money transfer services and multi-currency accounts using local payment rails can be faster — sometimes same-day on supported routes. Speed claims often apply to a provider’s busiest corridors, so check timings for the specific route required.
Do I need an international business bank account to send money overseas?
A bank account is usually required for bank wire transfers, but other methods are more flexible. Online money transfer services, digital wallets and multi-currency accounts each have their own funding and disbursement options, and some allow funding via debit card or wallet without a bank-to-bank link. Check the requirements of the method being considered.
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
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