3 Effective Methods Nigerian Freelancers Can Receive International Payments

As a seasoned freelancer in Nigeria, navigating the complexities of receiving international payments can be daunting. My journey, coupled with extensive research, has led me to discover several platforms that streamline this process, ensuring efficiency and security. However, several reliable platforms and services can help streamline this process. This guide will explore how to receive foreign currency efficiently, featuring Grey Finance, Aboki FX, Payoneer, and other notable platforms.

1. Grey Finance (Aboki FX)

Grey Finance, formerly known as Aboki FX, is a renowned platform in Nigeria that facilitates foreign currency exchange and financial transactions.

• Advantages:
  • Competitive exchange rates.
  • Swift transactions.
  • User-friendly mobile app.
  • Multiple currency support.
  • Virtual USD card feature which you can freeze and unfreeze. Works with Amazon, Aliexpress, Apple ID.
  • Very fast response from their support
• How to Use:
  1. Sign Up: Create an account on Grey Finance.
  2. Link Your Bank Account: Add your Nigerian bank account details.
  3. Receive Funds: Share your unique account details with clients.
  4. Conversion and Withdrawal: Convert received foreign currency to Naira at competitive rates and withdraw to your Nigerian bank account.
• You can also add your USD, EUR or GBP accunt details to your Payoneer, so you can withdraw from your Payoneer to your Grey account, convert to USD then withdraw to your naira account.

2. Payoneer

Payoneer is a global payment platform widely used by freelancers to receive international payments.

• Advantages:
  • Payoneer supports multiple currencies.
  • Direct transfer to Nigerian bank accounts.
  • Integrated with major freelance platforms like Upwork.
  • Debit card for global access to funds. Payoneers provides debit cards in USD, CAD, GBP, etc.
• How to Use:
  1. Sign Up: Create a Payoneer account.
  2. Link Freelance Platforms: Connect your Payoneer account to platforms like Upwork.
  3. Receive Payments: Share your Payoneer details with clients for direct transfers.
  4. Withdraw Funds: Transfer funds from Payoneer to your local bank account or use the Payoneer debit card.
• You can withdraw from Payoneer to your Wise account, Grey account etc because straight withdrawal to Naira account comes with low exchange rate.

3. Wise (formerly TransferWise)

Wise is known for its low-cost international money transfers.

• Advantages:
  • Low fees.
  • Real exchange rates.
  • Fast transfer times.
  • Multi-currency account options.
• How to Use:
  1. Sign Up: Create a Wise account.
  2. Get Bank Details: Obtain local bank details for the currencies you receive.
  3. Receive Funds: Share these details with your clients.
  4. Convert and Withdraw: Convert the currency to Naira and withdraw to your Nigerian bank account.
• Note that Wise doesn’t provide virtual cards for Nigerians for now.

Conclusively, receiving foreign currency as a freelancer in Nigeria has never been easier with these reliable platforms. Grey Finance, Payoneer and Wise offer secure, fast, and cost-effective solutions for managing international payments. Evaluate each platform’s features and choose the one that best fits your needs to ensure a smooth and hassle-free payment experience.