How much charge for sending money from foreigners through centralized medium like MoneyGram, Western Union and the rest to Nigerian bank, do you know?
Just checking whether the charge can be up to the transaction charge of Bitcoin $2.08 on trust wallet that's approximately 3200 Naira.
If the Western Union transaction charge is less or higher than Bitcoin, let's get the comparison from there.
Western Union and other centralized merchants charges based on receiver locations, payment options and amount to be sent, the charges are not static, but it minimum of $5-10 if you're sending less than 1million Naira and it usually takes 1-2 business working days and in some cases even 5 working days excluding weekends.
Bitcoin even at $2 at the moment is still cheapest out there and fees are calculated based on block space not the amount.
I just checked on Western Union website now for more clarity and the transfer fee is overwhelming. It's way too costly
Outgoing wire transfer fees range from $20-35 for domestic transfers, and $35-50 for international transfers. Incoming wire transfers may range from $0 to $16.
Sending to Nigeria: Wise provides an example showing a $13.27 transfer fee for sending $1,000 USD.
Meh, Bitcoin transaction fee all the way, don't even talk about the time of payment confirmation, Bitcoin beats them all.