Bank vs. Fintech: What’s the Smarter Way to Send Money from Canada to Nigeria?

Bank vs. Fintech: What’s the Smarter Way to Send Money from Canada to Nigeria?

 Breaking down the difference — so you can keep more of your naira.

If you’ve ever sent money home and quietly wondered, “Why did less arrive than I sent?”  this is for you.

Maybe the exchange rate looked fair. Maybe the fee seemed small. But somehow, the numbers just didn’t add up. That’s not random. That’s how many traditional systems are built.

And for Nigerians in Canada who send money regularly for rent, school fees, or family support, these “small losses” can cost you thousands of naira over time.

So the real question is: 

Are you sending money the smartest way?

Banks vs Fintechs: What's the Real Difference? 

On the surface, both banks and fintechs help you send money from Canada to Nigeria. But under the hood? They’re not built the same.

Why This Matters for Nigerians in Canada 

Let’s say you send $200 to Nigeria every two weeks. That’s $400/month.

If your bank charges $10 in fees (plus adds a weaker exchange rate), you could be losing up to ₦12,000–₦20,000 every month — money that should have gone to your family.

That could cover a week’s groceries. A parent’s meds. Your sister’s data plan. The point is: you shouldn’t have to choose between helping and saving.

With a smarter system, you can do both.

What Fintechs Do Differently (And Why It Matters)

 Platforms like Paper are built specifically for people like you — Nigerian immigrants living abroad, trying to support family while managing life in a new country.

Here’s what makes the difference:

✅ Real exchange rates — You see the actual market rate. No inflated conversions.

✅ No hidden charges — You know the exact amount that’s going home.

✅ Fast delivery — Your money arrives in minutes, not “3–5 business days.”

✅ Built for Nigerians — From the UX to customer support, it’s culturally aware.

✅ 24/7 support that gets it — No ticket numbers. Just humans who understand your needs.

What to Ask Before You Send 

Before you make your next transfer, pause and ask:

  • Am I getting a fair exchange rate?
  • Are there any hidden charges I’m not seeing?
  • How fast will the money arrive?
  • Will someone help me if something goes wrong?
  • Is this platform built with me in mind?

If you can’t confidently answer “yes” to all of those, it might be time to switch.

Final Thoughts: Banks Aren’t Bad — They’re Just Not Built for This. 

Banks are great for many things — savings, credit, and day-to-day banking.

But when it comes to sending money home regularly, especially to Nigeria, fintech platforms like Paper are built to serve you better:

✔️ Faster. 

✔️ Fairer. 

✔️ More transparent. 

✔️ And designed for your reality.

You’ve worked hard for your money. Let’s make sure your money works harder for your people.

👉 Try Paper today and keep more of what you send

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