Payoneer is an internet banking service that enables users to send and receive money in a variety of currencies. Payoneer enables users to open virtual bank accounts in a variety of currencies, including US dollars, British pounds, euros, Canadian dollars and Chinese yen. Payoneer also offers debit cards such as MasterCard and Visa that can be used at ATMs.
Payoneer is a superior alternative to PayPal due to the numerous restrictions that PayPal users in Nigeria face. Payoneer has long been the go-to account for freelancers, affiliate marketers, digital marketers, bloggers, traders, exporters, and importers due to the complex characteristics of Payoneer’s services.
Payoneer membership has several advantages, including the ability to open a virtual US bank account to receive earnings as a freelancer, blogger, affiliate marketer, or YouTuber, among others. It can also be used to receive Google Adsense payouts.
This article will teach you how to open a Payoneer account for free in less than 20 minutes in Nigeria.
What is Payoneer?
Payoneer is an online banking platform that enables individuals to send and receive money via the Internet. Payoneer allows users to create a virtual bank account in a variety of currencies, including US Dollars, British Pounds, and Euros. Users can also use credit cards such as MasterCard and Visa.
Payoneer is the leading alternative to PayPal for Nigerians who wish to send and receive money. You will learn how to open a Payoneer account in Nigeria in this article.
Payoneer: How Does It Work?
Payoneer is a similar online payment platform to PayPal, but with additional features that have prompted many restricted PayPal users (particularly Africans) to migrate to this platform.
If you are a resident of Nigeria, Ghana, or another PayPal restricted country, you can use Payoneer to send and receive payments. Additionally, you receive a virtual bank account for conducting business with international customers. With a Payoneer account, you can easily send and receive money from any location in the world without leaving the comfort of your home.
8 reasons why you should open a Payoneer account in Nigeria
- It is completely free to create an account. This option will appeal to a large number of people.
- You can receive payment from companies based in the United States and other European countries.
- To access your Payoneer account in Nigeria, you do not need to change your IP address or use a VPN.
- It is secure and reputable.
- You can apply for a Payoneer MasterCard and use it to make withdrawals and online payments.
- Once you’ve earned $1000, you’ll receive a $25 bonus.
- Payoneer accounts can be used to accept payments from Amazon, Fiverr, and other freelancer marketplaces.
- Additionally, you can earn $25 by referring a friend to Payoneer.
Countries Where Payoneer Is Supported
Before opening a Payoneer account, it is critical to familiarise yourself with the list of countries that Payoneer supports; this will help you determine whether the country with which you intend to conduct business accepts Payoneer.
|Country Names:||Currency Names:|
|AMERICAN SAMOA||United States Dollar|
|ANGUILLA||Eastern Caribbean dollar|
|ANTIGUA AND BARBUDA||Eastern Caribbean dollar|
|ARGENTINA||Argentine peso, Argentine austral|
|BENIN||West African CFA franc|
|BHUTAN||Indian rupee, Bhutanese ngultrum|
|BOSNIA AND HERZEGOVINA||Bosnia and Herzegovina convertible mark|
|BRITISH VIRGIN ISLANDS||United States Dollar|
|BRUNEI DARUSSALAM||Brunei dollar|
|BURKINA FASO||West African CFA franc|
|CAMEROON||Central African CFA franc|
|CAPE VERDE||Cape Verdean escudo|
|CAYMAN ISLANDS||Cayman Islands dollar|
|CENTRAL AFRICAN REPUBLIC||Central African CFA franc|
|CHAD||Central African CFA franc|
|CONGO||Congolese franc, Zairean zaire|
|COOK ISLANDS||New Zealand dollar, Cook Islands dollar|
|COSTA RICA||Costa Rican colón|
|COTE D’IVOIRE||West African CFA franc|
|CYPRUS||Euro, Cypriot pound|
|CZECH REPUBLIC||Czech koruna|
|DOMINICA||Eastern Caribbean dollar|
|DOMINICAN REPUBLIC||Dominican peso|
|EAST TIMOR||United States Dollar|
|ECUADOR||United States Dollar|
|EL SALVADOR||United States Dollar|
|EQUATORIAL GUINEA||Central African CFA franc|
|FALKLAND ISLANDS (MALVINAS)||Falkland Islands pound|
|FAROE ISLANDS||Faroese, Danish|
|FEDERATED STATES OF MICRONESIA||United States Dollar|
|FRANCE||Euro, CFP franc|
|FRENCH POLYNESIA||CFP franc|
|GABON||Central African CFA franc|
|GIBRALTAR||Pound sterling, Gibraltar pound|
|GRENADA||Eastern Caribbean dollar|
|GUAM||United States Dollar|
|GUERNSEY||Pound sterling, Guernsey pound|
|GUINEA-BISSAU||West African CFA franc|
|HONG KONG||Hong Kong Dollar (HKD)|
|INDONESIA||Indonesian Rupiah (IDR)|
|ISLE OF MAN||Manx pound, Pound Sterling|
|ISRAEL||Israeli new shekel|
|JERSEY||Pound sterling, Jersey pound|
|KIRIBATI||Australian dollar, Kiribati dollar|
|LAO PEOPLE’S DEMOCRATIC REPUBLIC||Lao kip|
|MALI||West African CFA franc|
|MONTENEGRO||Euro, Euro sign|
|MONTSERRAT||Eastern Caribbean dollar|
|NAMIBIA||Namibian dollar, South African Rand|
|NETHERLANDS ANTILLES||Dutch guilder, Netherlands Antillean guilder|
|NEW CALEDONIA||CFP franc|
|NEW ZEALAND||New Zealand dollar|
|NIGER||West African CFA franc|
|NORTHERN MARIANA ISLANDS||United States Dollar|
|PANAMA||United States Dollar, Panamanian balboa|
|PAPUA NEW GUINEA||Papua New Guinean kina|
|PUERTO RICO||United States Dollar|
|RUSSIAN FEDERATION||Russian Rouble (RUB)|
|SAINT KITTS AND NEVIS||Eastern Caribbean dollar|
|SAINT LUCIA||Eastern Caribbean dollar|
|SAINT PIERRE AND MIQUELON||Euro|
|SAINT VINCENT AND THE GRENADINES||Eastern Caribbean dollar|
|SAO TOME AND PRINCIPE||São Tomé and Príncipe dobra|
|SAUDI ARABIA||Saudi Riyal|
|SENEGAL||West African CFA franc|
|SIERRA LEONE||Sierra Leonean leone|
|SLOVAKIA||Euro, Euro sign|
|SOLOMON ISLANDS||Solomon Islands dollar|
|SOUTH AFRICA||South African Rand|
|SOUTH KOREA||South Korean won|
|SRI LANKA||Sri Lankan rupee|
|SWAZILAND||Swazi lilangeni, South African rand|
|TAIWAN||New Taiwan dollar|
|THE GAMBIA||Gambian dalasi|
|TRINIDAD AND TOBAGO||Trinidad and Tobago dollar|
|TURKS AND CAICOS ISLANDS||United States Dollar|
|TUVALU||Australian dollar, Tuvaluan dollar|
|UNITED ARAB EMIRATES||United Arab Emirates dirham|
|UNITED KINGDOM||Pound sterling|
|UNITED STATES||United States dollar|
|VIRGIN ISLANDS (U.S.)||United States Dollar|
|ZIMBABWE||United States Dollar, South African rand, Euro, Renminbi, Indian rupee, Pound sterling, Botswana Pula|
How To Open Payoneer Account In Nigeria
It only takes a few steps to open a Payoneer account, and I will walk you through them to make it as simple as possible.
Requirements for Opening a Payoneer Account
Before opening a Payoneer account, the following items are required:
- Your full name. Your legal name should be used.
- Email address
- Your primary residence address. This should be correct, as this is the address to which your card will be sent if you request one.
- Date of birth
- Your contact information
- A government-issued identification card, e.g. (International Passport)
Now, to create a Payoneer account, follow the steps below:
- To begin, visit the Payoneer website.
- On the website, click the Register button.
- Complete the online registration form.
- Complete the online registration form. Ensure that you provide only accurate information.
- Verify the email address associated with your account.
- You’ll be prompted to verify your email address. Log into your email and click on the Payoneer link.
Congratulations. You’ve created a Payoneer account!
How to use Payoneer to send money or make a payment
To send money or make a payment using Payoneer, follow these steps.
To begin, sign in to your Payoneer account.
- To send money or make a payment, you must first log in.
- Click the pay button.
- From the top menu, select pay. Click on “Make a payment.”
- There are two options: pay your VAT or make a payment. Unless you are confident in your abilities, the prudent course of action is to make a payment.
- Determine the method by which you wish to send money. You can deposit funds into the recipient’s Payoneer account or directly into their bank account.
- Proceed with payment
- Follow the on-screen prompts to complete your payment.
How to use Payoneer to receive money
Here are some methods for depositing funds into your Payoneer account.
1. Make reference to your account number.
Payoneer Global Payment Service enables you to open and manage bank accounts in a variety of different currencies. Simply provide the company or individual paying you with your bank account information.
That is all that is required. After they deposit the funds into the bank account, the funds will appear in your Payoneer account.
By logging into your account, you can view your account number. On the top menu, click Receive. Then, on the left, click Global Payment Service.
There, you can view the details of your bank account.
2. Inquire of your clients for payment.
Alternatively, you can log into your Payoneer account and request payment from your clients. It’s quite simple.
Simply access your account and submit a payment request. Your client will receive an email containing a payment link. Once the client makes the payment, the funds are transferred directly to your Payoneer account.
You can request payment by logging into your Payoneer account, selecting Receive from the top menu bar, and then selecting Request Payment.
3. Make a mass payout
If you work as a freelancer or with businesses that accept Payoneer as a payment method, such as Upwork, Fiverr, and others. You simply need to register your Payoneer account with them, and they will send payment to your Payoneer account automatically.
4. Login with your Payoneer email address.
You can make payments to other Payoneer users. All you have to do is provide them with your Payoneer account’s email address. They will be able to transfer funds to you directly from their Payoneer account.
How to transfer funds from your Payoneer account to your bank account in Nigeria
Please keep in mind that there are two options and that you may choose only one! You can withdraw using a Payoneer card that will be mailed to you or your Nigerian bank account. If you choose the card option, you will be able to use the Payoneer card to withdraw money from ATMs but not to your bank account.
If you withdraw funds from your bank account, you will be unable to obtain a card. Once you’ve decided to obtain the card, you will be unable to withdraw funds to your local bank account again.
To withdraw funds from your Payoneer account in Nigeria, follow these steps:
1. Access your account by logging in.
To withdraw funds from your account, you must be logged in.
2. Select withdraw.
Withdraw is located on the top menu. Simply click on it.
3. Select the account from which you wish to withdraw funds.
You can see the various bank accounts associated with Payoneer. Choose the one from which you wish to withdraw.
4. Include your bank account information.
Include the details of the local bank account to which you wish to make a withdrawal.
5. Complete abstention.
Complete the process by following the instructions. Typically, it takes between one and five business days to receive funds due to the international nature of the transaction.
To order a Payoneer card, follow these instructions.
- Log in to your Payoneer account.
- Click on Settings.
- From the drop-down menu, select Payoneer cards.
- When you hover your mouse over settings, you’ll notice Payoneer cards. Click on them.
- 4. Select “Order Now” from the drop-down menu.
On the new page that appears, click order now. After clicking that, proceed with the on-screen instructions to complete your request.
Creating a Payoneer account in Nigeria is very necessary if you are an online entrepreneur, and as long as you follow the steps above precisely, you should be fine. If you have any questions or suggestions, please leave them in the comments section below.