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How To Use Payoneer In Nigeria: 2022 Complete Guide

If you work online in Nigeria (freelancing, for example), it’s critical that you use a convenient payment platform. PayPal is undoubtedly the most widely used online payment platform. Unfortunately for us in Nigeria, the service isn’t fully available. You can only send but can’t receive money with a Nigerian PayPal account.

Not to worry, there’s Payoneer, which is also a widely used online payment platform. Payoneer is available in Nigeria. Thousands of Nigerians are already receiving payment from it. However, many others aren’t using the platform because they don’t know how.

In this post, I’ll be explaining how to use Payoneer in Nigeria.

What Is Payoneer?

Simply put, Payoneer is an online payment platform that lets you receive money from anyone, anywhere in the world.

Online businesses and individuals in different industries – freelance, eCommerce, content creation, digital marketing, travel, etc – use Payoneer to facilitate payment.

With Payoneer, you can manage a USD, EUR, or GBP account. You can withdraw your money into your Nigerian bank account at any time.

Also, the platform gives you ATM cards so you can get your money directly from ATMs.

It’s a fairly easy-to-use app. From registration to linking your bank account, receiving and withdrawing money, nothing is complicated. You have nothing to worry about if you meet and can provide all the requirements.

You can use Payoneer online via the website or download the free mobile app, which is available for iOS and Android devices. However, it’s best – for safety reasons and convenience, most especially – to use the website with a desktop browser.

How To Create a Payoneer Account?

Creating a Payoneer account is a straightforward process. You can do so by following the below steps.

  • Visit the official Payoneer website at and click on “Get Started.”
  • Select your business type or industry from the list. You can sign up as just an “Individual.”
  • Click on “Register” and you’ll be redirected to the online registration form.
  • Complete the four-stage registration form, ensuring that you provide only legitimate, verifiable information. In particular, you’ll need a government-issued ID to verify your Payoneer account, so every detail you submit (name, address, and date of birth, most especially) must correspond with what’s on the ID card. 
  • Enter your correct bank details in the required section. You’ll provide your BVN for verification, so make sure you own the bank account you’re using.
  • Submit the application form.

After you complete all four stages of the form, you’ll get an email confirming your application. The email will also notify you that your account is under review. 

A review takes around three business days. If all the information you provided is correct, you’ll get approved and you can start operating your Payoneer account.

How Do You Receive Money From Payoneer?

You can receive money into your Payoneer account by issuing payment requests. For instance, if client A wants to pay, you’ll get their email address and send them a payment request from your Payoneer account.

They’ll receive the payment request in their mail. It contains a link to your payment page. They can pay easily using their credit card. It’s that easy, similar to how you pay for online purchases.

Alternatively, if the client also has a Payoneer account, they can pay you directly through Payoneer. For that, they’ll need your Payoneer email address or ID. These details are readily accessible from your Payoneer dashboard.

You can’t hold NGN in your Payoneer account. As mentioned earlier, you can only manage a USD, EUR, or GBP account. Your money will automatically convert to NGN when you withdraw it into your bank account. When you withdraw funds to a domiciliary account, the value remains in the foreign currency.

How Can I Withdraw Money From Payoneer to Nigeria?

You can withdraw money from your Payoneer account to your Nigerian bank account in four simple steps. Here’s how to go about it:

  • Login to your Payoneer account.
  • Click on the Withdraw tab and select “To Bank Account.”
  • Select the bank account you want to withdraw to.
  • Enter the amount and initiate the withdrawal.

You’ll get an email confirming that your withdrawal is being processed. Payoneer withdrawals take two to five days to complete.

Note that Payoneer has withdrawal limits that differ from account to account. In addition, you’ll have to pay a fixed amount or percentage of your withdrawal as a transaction fee. 

Frequently Asked Questions About Using Payoneer in Nigeria

Which Bank Uses Payoneer in Nigeria?

Payoneer will work with any bank in Nigeria. You only need to enter the correct bank details. When you withdraw money, it’ll get credited into your bank account. Depending on your bank policy, the money may automatically convert into the NGN equivalent. Otherwise, you may be asked to open a domiciliary account to receive the foreign currency.

Does Payoneer Operate in Nigeria?

Yes, Payoneer fully operates in Nigeria. You can send and receive money without difficulties. However, the service doesn’t support naira, Nigeria’s local currency. You’ll have to make due with either the US dollar, British pounds, or European euros.

What Is the Minimum Amount To Withdraw From Payoneer in Nigeria?

The minimum amount you can withdraw from Payoneer in Nigeria depends on your account. However, for most accounts, the limit is $50 (around N20,000).

Bottom Line

You’ll agree that Payoneer isn’t a complex platform. It’s safe and convenient to use, and it works effortlessly with Nigerian banks. It’s the best alternative to PayPal in Nigeria, and if you do business online, you should open a Payoneer account.