Have you been looking for an online digital payment service, that you can use to send and receive money across the globe without stress?
Do you need a virtual bank account that you can use to receive payment from international clients?
Have you been told that as a Nigerian resident you cannot receive payments in international currencies like US Dollars, British Pounds and Euros?
If any of the questions above describe your situation, please read this post to the end.
In this article, you will not only learn how to set up a Payoneer account in Nigeria, but you will also learn how to verify your Payoneer account and fund it.
Let’s get started!
Table of Contents
WHAT IS PAYONEER ACCOUNT
Payoneer is an online financial institution that was founded in New York City by in 2005.
It is a digital payment service, that provides working capital solutions.
The platform offers multiple payment options internationally at a very low price.
Payoneer Account holders can pay and get paid quickly by international clients and global marketplaces.
Payoneer Account holder can use their debit card for cash withdrawal via ATMs worldwide and the Payoneer card can be easily loaded via Payoneer exchangers in Nigeria.
The platform allows you to withdraw cash directly to your local bank which you can withdraw via A TM with little transaction charges.
BENEFITS OF OPENING A PAYONEER ACCOUNT IN NIGERIA
- Payoneer is safe and trusted, it facilitates seamless, secured and cross-border payments, in over 200 countries
- Creating a Payoneer account in Nigeria is completely free.
- You don’t need to use fake information to register for a Payoneer account in Nigeria.
- With Payoneer account, you can open virtual bank accounts in Nigeria, and use it to receive payments from American and European companies.
- You can also apply for and use the Payoneer Mastercard/ debit card in Nigeria for your online payments, and for funds withdrawal at ATMs.
- You don’t need to change your IP address or use VPN to access the Payoneer website in Nigeria.
- Payoneer will give you a $25 reward once you receive $1000 payments into your Payoneer account.
- You can use Payoneer account to receive payments from freelancing marketplaces like fiverr, Upwork and other websites that accept Payoneer as payment method etc.
- Payoneer gives you two major bank accounts( UK and US Banks) as soon as your registration is activated with them.
DOES PAYONEER HAVE ALTERNATIVE IN NIGERIA
Everything has an alternative, but the question is how good is the alternative compared to the one being considered.
For Nigerian, Payoneer is the best option, considering the limitation on Nigerian PayPal Account.
Unlike Paypal, Nigerian can use Payoneer to send and receive money.
As a Payoneer Account holder in Nigeria, you don’t need to worry about the dollar to Naira exchange rate when making international payments from Nigeria since the Payoneer funds are in US dollars.
REQUIREMENTS FOR SETTING UP A PAYONEER ACCOUNT IN NIGERIA
To create a Payoneer account in a Nigeria is very easy, however, there are requirements you will need to provide, and they are listed below;
- Your legal name in full
- Your contact details; Your Email and residential address. Ensure this information is correct because it is very useful, especially in sending your card.
- Date of birth.
- Means of verification which must be a government Issued ID
HOW TO OPEN A VERIFIED PAYONEER ACCOUNT IN NIGERIA 2021
Follow the steps below to open a Payoneer account in Nigeria;
- Visit the Payoneer website and click on sign up, then fill the form on the page correctly.
- Fill in your name, address as it is in the ID card you want to use for verification.
- Create your password, Select your secret security Question and Answer, then choose your ID type. Provide the details of the ID as required.
- Provide your bank account details if required. You can use google to get the SWIFT/BIC for your bank. ZenithBank SWIFT/BIC is ZEIBNGLA
Payoneer will send a confirmation mail to you, log in to your email account and click on the link contained in the mail from Payoneer.
Congratulations! You now have a verified Payoneer account!
Once you become a Payoneer account holder, you will become qualified to open a virtual USA bank account in Nigeria for receiving payments.
You will also need to apply for Payoneer Mastercard in Nigeria for online payments.
You need to have a minimum of $30 in your Payoneer account before you can apply for Payoneer MasterCard in Nigeria once approved.
You can use the Payoneer debit card for funds withdrawal via ATMs worldwide.