Understanding the Table:
The comparison table above helps you see the total cost of your HSBC currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
The best USD to NGN exchange rate is 1519.13 from Wise.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Nigerian naira (NGN) rates from different sources before making a conversion.
The above HSBC - Dollar to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by HSBC and other foreign exchange providers against the latest USD-NGN mid-rate and the possible savings of using various providers.
Looking at the full USD to NGN - Send Money comparison table the provider with the best USD to NGN exchange rate is Wise at 1519.13.
The next best is Western Union at 1504.6.
Then WorldRemit at 1492.37, .
Among the banks the Chase Bank rate is -83.1108 the Wells Fargo Bank rate is -92.2853 and the Citibank rate is -21.948 compared to the mid-rate 1,529.1.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like HSBC often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
