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The short answer
Card payments cost the transfer firm a processing charge and carry fraud risk, so some UK apps price card-funded transfers higher or cap them lower than transfers paid by bank. As at October 2026, Remitly says its non-promotional rate applies when you pay by Easy bank transfer, and WorldRemit allows £100,000 per transaction by bank transfer against £8,000 by card. Paying by bank also avoids credit-card cash charges.
Two people send the same £500 to Lagos through the same app on the same day, and one receives more naira. The difference is often not the provider, the route or the timing. It is how each of them paid. This article explains why the funding method matters and how to check it for your own transfer.
What a card payment costs the provider
When you pay with a card, the transfer firm pays card processing fees and takes on the risk that the payment is disputed or turns out to be fraudulent. When you pay by bank, the money arrives through Faster Payments, either as a transfer you send or through an open banking "Pay by Bank" request you approve in your banking app. Open Banking Ltd notes that no card numbers are shared and the payment travels over Faster Payments. Providers recover their costs differently, but the cost difference between the two methods is real, and some of it reaches the price you see.
What providers' own pages say
| Provider | What changes with payment method (checked Oct 2026) |
|---|---|
| Remitly | Costs vary by "the payment method, and the delivery option you choose"; the non-promotional rate shown "applies when you pay by Easy bank transfer" for amounts over the first £250; Express with a card is suggested for speed |
| WorldRemit | Cards and Apple Pay: £8,000 per transaction, £50,000 per 24 hours. Bank account transfer: £100,000 per transaction and per 24 hours |
| MoneyGram | Lists Pay By Bank, debit and credit; its first-transfer fee offer excludes credit cards |
None of these pages publishes a single fee table by payment method, so the only way to see the difference is to quote the same transfer twice in the app: once with a card, once with bank payment.
The credit card trap
The biggest cost difference has nothing to do with the transfer firm. UK card issuers usually class money transfers as cash transactions. Lloyds Bank lists wire transfers and topping up e-money or payment cards as cash transactions, with a fee that may be up to 5% and interest from the day the transaction posts. Barclaycard lists wire transfers as cash-like, charges a cash fee (£2.99 under £100 or 2.99% over £100 on its standard terms) and charges interest from the transaction date even if you pay the balance in full (both checked October 2026). Our guide to debit versus credit cards covers this in detail.
Worked example (illustrative only)
Example: Tunde sends £1,000 using a credit card on a Barclaycard-style tariff. The issuer's cash fee at 2.99% is £29.90 before the transfer firm's own fee, and interest starts that day. Paying the same £1,000 from his current account by bank transfer adds no card-issuer fee at all. If the app also shows a slightly better rate for bank payment, the gap widens: at an illustrative rate difference of ₦10 per pound, £1,000 means ₦10,000 more for his family. These are example figures only; the app shows the actual rate and fee before you approve.
Promotions can hide the difference
First-transfer offers often apply to one payment method only. Remitly's promotional rate covers the first £250 for new customers, and MoneyGram's first-transfer fee offer excludes credit cards. When you compare card and bank quotes on your first transfer, you may be comparing a promotion with a standard price. Compare again on the second transfer, when both quotes are on standard terms, before deciding which method to use regularly.
When a card is still the better choice
- Speed for a small, urgent amount. Card payments are confirmed instantly; a first bank-funded transfer can sit while the provider waits to receive and match the money.
- Your bank's own limits. A new payee can trigger your bank's fraud checks or a lower first-payment limit, which a card may avoid.
- Debit cards do not carry the cash-transaction charges credit cards do, so for small sums the difference with a bank payment may be minor.
If you pay by bank, use the reference the app gives you exactly. A missing or mistyped reference is one of the common reasons a bank-funded transfer is delayed. See paying by open banking for how the Pay by Bank flow works and FX margins explained for how to compare rates against the mid-market rate.
What to check first
- Quote the transfer with your card, and note the fee, rate and naira total.
- Change the payment method to bank transfer or Pay by Bank, and quote again.
- Check whether either quote is a first-transfer promotion that will not repeat.
- If you were going to use a credit card, add your issuer's cash fee and interest.
- Check the limit for each method against the amount you need to send.
Where Pryme fits
A Pryme Personal Account is funded by ordinary bank transfer to your own UK account details, so there is no card charge to think about. You choose when to convert with Swap, and the app shows the rate and the fee before you approve each conversion or transfer.
Questions people ask
Is it cheaper to pay Remitly by bank transfer or card?
Remitly says costs vary by payment method and that its non-promotional rate applies to Easy bank transfer above the first £250. Quote both in the app to see the difference for your amount.
Why is my limit higher when I pay by bank?
Providers carry more risk on card payments. WorldRemit, for example, allows £100,000 per transaction by bank transfer against £8,000 by card, as at October 2026.
Does using a credit card for a transfer cost extra?
Usually. Lloyds and Barclaycard treat wire transfers as cash transactions with a fee and interest from day one.
Is a bank-funded transfer slower?
It can be, especially the first time, while the provider receives and matches your payment. Use the exact reference to avoid delays.
Sources
- Remitly: Send money to Nigeria from the UK · accessed Oct 2026
- WorldRemit: Send money from the United Kingdom (FAQ) · accessed Oct 2026
- MoneyGram: Send money from the UK to Nigeria · accessed Oct 2026
- Lloyds Bank: Credit card cash transactions · accessed Oct 2026
- Barclaycard: Cash interest rates and fees · accessed Oct 2026
- Open Banking: Pay by Bank · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.