You will soon learn how to create a Payoneer account in Nigeria. You can follow along with this tutorial step by step to create your own Payoneer account for free.
Payoneer is one of the best payment gateways in Nigeria. It allows you to receive payments online in Nigeria.
It functions similarly to PayPal but is available worldwide. You can create a Payoneer account in Nigeria for free and all you need is the steps outlined in this guide.
If you want to create a Payoneer account in Nigeria, these are the only 3 Steps you need to follow
- Sign Up for a Payoneer account for free
With your email address, you can create a free Payoneer account by heading over to Payoneer’s homepage
- Prepare all the documents for account verification
To get your Payoneer account active and verified, there are some documents you need to prepare.
These documents will help Payoneer prove your identity and filter out spam. - Head over to the Verification center
Once you have those documents, you can head over to Payoneer’s verification center to upload them and activate your Payoneer account.
- Withdraw your funds
Now your account is ready and verified, you will be able to withdraw your funds directly to your local bank account.
PayPal Vs Payoneer
PayPal is one of the most popular ways to receive payments online worldwide but it has its limitations.
One of these limitations is how this payment service is restricted to only certain countries.
As expected, PayPal’s payment services are limited to Nigerians. The more reason why you need a Payoneer account in Nigeria.
Asides from these restrictions, Payoneer tops the list as one of the best payment gateways in Nigeria even above PayPal.
I have both of these accounts and made an honest review of both services.
So if you are still pondering on whether or not to create a Payoneer account in Nigeria, here’s a fair comparison of these two payment gateways.
How Does Payoneer Work?
Payoneer is a Global Payment gateway that allows business owners and entrepreneurs to send and receive online payments right into their local bank accounts.
Payoneer allows you to receive payments from huge marketplaces like Amazon, Upwork, and Fiverr and withdraw these funds directly into your local bank account.
When you sign up for a free Payoneer account, Payoneer gives you access to an active US and UK bank account.
These foreign bank accounts are fully functional and widely accepted globally.
How To Create a Payoneer Account In Nigeria
We have down to business, here’s a simple step-by-step process for how to create a Payoneer account in Nigeria.
Read the full guide or Watch this tutorial to learn what you need to create an active Payoneer account in Nigeria.
1. Sign Up for a Free account on Payoneer
The first step to owning a Payoneer account in Nigeria is to sign up on their homepage.
It is totally free to create a Payoneer account with no hidden cost. On the Payoneer home page, you will be asked for some personal details to get your account up and running.
You only get one chance to fill out this sign-up form so try as much as you can to provide accurate information all the way through.
This is because you will be required by Payoneer to provide proof of the validity of your account information.
Here’s what the sign-up process on Payoneer looks like:
a. Head over to Payoneer’s sign-up page to create a new account
Over on the home page at Payoneer.com, you can locate the GET STARTED button. Once you click this button, a sign-up form is prompted.
You will get a WELCOME BONUS of $25 when you sign up using my referral link. So if you don’t mind earning $25 for free,
Consider signing up using this link as opposed to heading over to Payoneer.com
b. Fill out the sign-up form with your correct details
After you click the GET STARTED button, you will be taken through a form sequence by Payoneer, requesting your accurate contact information.
Here are some of the contact details Payoneer will demand of you include: your email address, date of birth, Name in the correct order, local bank account details, and much more.
c. Confirm your new account
Once you’re done filling out the form, Payoneer sends out an automated verification email. You will need to confirm your new account through the verification email Payoneer sends to you.
2. Prepare your identification documents.
A major reason why Nigerians shy away from owning a Payoneer account is this.
As opposed to PayPal which allows access to their service without requesting any means of identity verification, Payoneer will require that you prove the validity of your identity before you will be able to login to your dashboard on Payoneer.
Most of these documents are very easy to acquire and you might already have them in your custody.
What Documents are needed to complete the Payoneer registration process?
There are two main documents you are going to need to verify your Payoneer account. These documents include:
a. Proof of your identity:
This document shows Payoneer that the name and date of birth on your Payoneer account are valid.
This document type is important because of how easy it is for spammers to come onto Payoneer to register for multiple accounts.
Payoneer tries to curb these excesses by limiting one Payoneer account to one verified user.
Therefore to get registered on Payoneer, you need a means of identification E.g a Driver’s license or Passport.
b. Proof of your address:
This document will enable Payoneer to verify if you truly reside in the location you stated while registering your account.
To verify your address, you could use documents including your Nepa bill (utility bills) or your bank documents of fewer than 6 months.
3. Head over to the verification center.
On your Payoneer dashboard, even without you completing the verification process, you’ll notice you’ve already been allowed your functional US and UK bank account and many people think that’s enough to start receiving payments.
On the flip side, your account’s Global payment service feature will remain unapproved until you must have completed your account verification process.
What this implies is that without completing the verification process on Payoneer, your foreign bank details won’t be functional.
After you must have submitted these documents, Payoneer reviews the information within 3 days after which, you will either get approved for an active Payoneer account or get sent a notification asking for an upload of a more clear or accurate verification document.
Once your account is verified, you can start using your foreign bank details to get paid online.
To locate your Payoneer bank details,
4. Start Withdrawing Your Funds
To withdraw your funds from Payoneer, You just need to use the WITHDRAW & TRANSFER tab on your Payoneer dashboard.
You can add up to two local bank details in any bank of your choice.
One thing to note is that Payoneer only allows your bank details if it matches the name on your Payoneer account.
All of the bank accounts that can be added to Payoneer have to be in the same name as your Payoneer account.
How To Make Money On Payoneer
Asides from the fact that Payoneer saves you the stress of having to physically travel abroad to create a foreign bank account with the several required documents.
Owning a Payoneer account can open you up to a new stream of revenue.
If you’re a Nigerian that’s ready to make money online, then with Payoneer, there are so many websites that will pay you through Payoneer.
Some of these websites include Amazon, Shutterstock, Fiverr, Clickbank, Upwork, Shareasale, and a host of several others.
Amazon affiliate marketing is one of the best ways to make and earn using Payoneer.
Did you know that Payoneer will pay you $25 to promote their service? Well, it’s true.
Payoneer has an affiliate program and for every new person to refer to their service, Payoneer gives as well as the new sign-up, a $25 welcome bonus.
Given the fact that Payoneer is a really valuable payment service, it’s so easy to convince your friend and family members to sign up using your link.
Watch this video to get a brief on how the Payoneer affiliate program works and how you can get started today
To join the Payoneer affiliate program, you first need to have a Payoneer account. Remember to sign up for Payoneer here to get your $25 welcome bonus.
Once you’re on your Payoneer dashboard, you can easily get your unique referral link by hitting the BUSINESS NETWORK tab and clicking on the REFER A FRIEND section.
Paypal is an awesome service, but in my opinion, Payoneer beats it time and time again.
This is why most huge marketplaces like Amazon and Clickbank use Payoneer as their preferred means of receiving payments.
Once you are ready to create your Payoneer account in Nigeria, remember you can get a welcome bonus of $25 when you sign up using this link.
FAQs on How To Create a Payoneer Account in Nigeria
Payoneer only accepts your Passport or Driver’s license as a means to verify your identity. It doesn’t provide any option for NIN
Payoneer’s Global Payment Service is widely accessible worldwide even in Nigeria. With a Payoneer account, you can withdraw funds directly to your local bank account in Nigeria.
Payoneer wins over PayPal in several ways.
Most especially because, while PayPal restricts Nigerians from owning a fully functional Payment account, Payoneer’s payment service is widely open to Nigerians who can easily create free accounts and receive funds directly to a local bank account.
Yes, Payoneer is openly available to any Nigerian looking to receive payments globally. Also, creating a Payoneer account in Nigeria is free and very easy to do.
At what point in registration does Payoneer issue account details? Must one receive money into the account before this is done?