Last reviewed 19 September 2026 · Sources checked on the publication date
Money-transfer services sometimes offer new customers a special exchange rate, a reduced fee, or both. These offers can be valuable. They can also make a provider look cheaper in a comparison that a repeat customer cannot actually use.
For example, Remitly’s Germany → Nigeria page advertises a new-customer offer and links to its conditions. The rate, eligible amount, funding method, and offer period can change. Read the current terms and the final checkout quote rather than relying on a screenshot from another date.
Start with the question: Am I eligible?
An introductory offer may apply only to a new account, the first qualifying transfer, a particular currency route, or a limited portion of the amount sent. A fee waiver may have different conditions from a promotional exchange rate. The provider’s promotion terms and your checkout summary determine what applies to you.
Avoid assuming that a welcome rate covers the entire transfer. If the promotion has an amount cap, the provider may apply its standard rate to the remainder. Also check whether changing the payment or payout method changes eligibility.
Compare the first transfer separately
Request a quote using your actual customer status: new customer if you qualify, existing customer if you do not. Then compare the way Transfer fee vs exchange rate describes — same total paid, same funding and delivery method, judged by the NGN the recipient is shown to receive.
You can still display the introductory offer in a comparison, but label it plainly. A reader should never mistake a limited first-transfer rate for the regular price. If an offer expires or the provider changes its terms, update or remove the quoted figures promptly.
Then consider the next transfer
If you expect to send money regularly, request a standard-rate quote as well. The provider with the highest payout on your first transfer may be different from the provider with the highest payout next month.
Here is a hypothetical illustration, not a current provider quote:
| NGN received for the same total EUR paid | Service A | Service B |
|---|---|---|
| First transfer | 810,000 | 795,000 |
| Second transfer at standard rate | 770,000 | 795,000 |
| Total across two transfers | 1,580,000 | 1,590,000 |
Service A wins the first comparison in this example, while Service B delivers more across two transfers. You are free to compare again and use a different service next time; the table simply shows why “best for a first transfer” and “best for regular transfers” are different questions.
A five-point offer check
- Who qualifies? Check new-customer and location requirements.
- What is covered? Look for an amount cap, eligible route, funding method, and payout method.
- What happens above the cap? Check the standard rate and any fee on the remainder.
- When does it end? Offers can have an expiry date or change before you send.
- What reaches the recipient? Compare the final payout for the same total amount you pay.
A good deal is the one shown in your final quote for a transfer you are eligible to make. Save that quote before sending, and make a fresh comparison when you send again.