How to Get Paid in USD from Nigeria: Payoneer, Wise & Grey Explained

 Nigerian freelancers and digital entrepreneurs are increasingly earning in USD, GBP, and EUR—but getting paid from abroad isn’t always straightforward. With PayPal limitations, strong alternatives like Payoneer, Wise, and Grey have emerged. Here’s your guide to the platforms, costs, and strategies that help Nigerians cash in on global earnings.

1. Payoneer – The Global Veteran 

Why it’s popular

• Offers virtual USD, EUR, and GBP local receiving accounts, so clients can pay just like they would someone in their country—no SWIFT hassles   .

• Integrates seamlessly with platforms like Upwork, Fiverr, Amazon, and others  .

• Includes a prepaid Mastercard, letting freelancers withdraw cash or pay online directly  .

Fees & drawbacks

• Charges 20% on initial $400‑600 in Payoneer-to-Payoneer transfers, then 1% over that  .

• Currency conversion costs range from 2–3%, making it pricier than some newer platforms  .

Best for

• Freelancers accustomed to USD payouts via Upwork, Fiverr, and marketplaces.

• Those who want both account and debit card solutions.

2. Wise (formerly TransferWise) – Low Fee King 

What it offers

• Provides real-time multi-currency accounts with local bank details for USD, GBP, EUR, and others  .

• Known for transparent, mid-market FX rates and low transaction fees  .

• Transfers to Nigeria are fast, and withdrawal is easy.

Downsides

• Not yet supported by major freelancing platforms like Upwork/Fiverr—needs manual invoicing.

• Minor withdrawal delays due to local bank processing.

Best for

• Freelancers paid directly by clients via bank transfer.

• Those prioritizing exchange transparency and saving on fees.

3. Grey – Africa’s New Favorite 

Why Grey stands out

• Digitally native platform offering virtual USD/GBP/EUR accounts, with no bank visits required   .

• USER-FRIENDLY: Instant setup and minimal hassles.

• Multi-currency flexibility, virtual debit cards, and sophisticated app UX .

Fees & use cases

• Currency conversion: ~1%, capped at $6  .

• ACH to USD incurs 1%, SWIFT 1% + $50.

• Great rates, speed, and transparency  .

Best for

• Nigerian freelancers needing instant USD account access.

• Those needing virtual cards for international subscriptions or travel.

Easy Comparison Table

Feature	Payoneer	Wise	Grey
USD Account	Ok USD/GBP/EUR local accounts	Ok  Multi-currency account	Ok ok ok
Virtual Debit Card	Ok	No	Ok
FX Transparency	Moderate fees	Mid-market rates	~1% fees
Integration	Great with freelance platforms	Manual invoicing	App + invoicing
Ease of Setup	Moderate	Fast	Instant

Step-by-Step Setup

1. Choose your primary platform
   
• If you’re on Upwork/Fiverr: start with Payoneer.
• Freelance direct or SMEs: Wise is a safe low-cost choice.
• Need virtual USD bank account + card? Go for Grey.
2. Sign up & verify
   
• Use your BVN/ID; Payoneer needs photo ID, Wise needs proof of address, Grey requires ID + selfie  .
3. Share banking details
   
• Clients can pay via ACH, SWIFT to Payoneer or Wise. With Grey, it’s instant.
4. Withdraw funds
   
• Transfer to your Nigerian Naira bank account or spend directly from your USD card.
5. Track and convert
   
• Monitor exchange rate & fees: try to convert when rates are favorable.

 Pro Tips for Smart Users

• Spread risk—open two platforms and receive split payments.
• Time currency conversions when Naira is weaker to maximize value.
• Avoid frequent small withdrawals to reduce costs.
• Use Facebook’s Marketplace or forums to find verified freelance buyers in USD.

Photo Credit:Grey.co

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