Can nigerians use Payoneer

Question

Accepted Answer

Yes, Nigerians can use Payoneer to receive international payments, hold balances in several currencies and withdraw money locally.

Receiving accounts: Payoneer gives users virtual receiving accounts in currencies such as USD, EUR and GBP, which can collect payments from overseas clients and freelance marketplaces like Upwork and Fiverr.
Kuda Bank integration: Registered Nigerian businesses can connect Payoneer with Kuda Bank, a digital bank, to manage balances and move funds.
Withdrawals: Payoneer funds can be withdrawn to a Nigerian bank account in naira (NGN) or to a local US dollar domiciliary account.

Before opening an account, it helps to know what setup and ongoing use involve.

Verification: Payoneer asks Nigerian users for a valid government-issued ID and proof of address when setting up the account, and some users verify with their National Identification Number (NIN).
Fees: Payoneer pricing for Nigerian users includes currency conversion charges, generally in the range of 1.2% to 4%, plus withdrawal fees that vary with the withdrawal route.
Payment requests: Nigerian users on Reddit report that some features, such as requesting payment from clients directly through Payoneer, may only become available after the account reaches a minimum amount of transactions.