Payoneer Account In Nigeria, Exchange Rate & Bank Withdrawal

Did you know you can own a USA bank account in Nigeria and other countries, fund it, received money and also use to make payment online using your dollar MasterCard? Yes, you can with Payoneer and it’s no gimmick to trick you into changing your IP address or faking your real identity as you will always read online.

I have received lots of questions about this and as a blogger, I do receive money in dollars that are transferred to me from companies outside Nigeria. So cashing out my hard work is not a big deal for me and in this post, I’m going to show you all that you need in other for you to own a foreign account in your country and use it to shop online or receive payment from Amazon, Fiverr, Click bank and other big companies from all industries.


Payooner acount

You must have read about PayPal as one of the best and secure way to make payment online as their system is trustworthy but the sad news which has always been our major setback as bloggers is that they don’t allow Nigerians to receive the fund into their account. So, for now, PayPal is a no-go area for Nigerians especially the bloggers and other online marketers and that’s why we have opted into Payoneer which is the best and reliable way to receive money and withdraw it into your local bank account.


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How To Send & Receive Money In/To A Domiciliary Account In Nigeria

Advantage And Benefits Of A Domiciliary Account

Below are the major reasons you should open a Payoneer account today.

  • It’s free to open an account
  • You can receive payment from American and other European companies.
  • You don’t need to change your IP or use a VPN to access the Payoneer account in Nigeria.
  • It’s safe and trusted.
  • You can apply and get a Payoneer MasterCard which you can use to withdraw and make an online payment.
  • Ones you received $1000 you will be rewarded with $25 Bonus.
  • You can use a Payoneer account to receive payment from Amazon, Fiverr, Upwork, and other freelancer marketplaces.
  • You can also earn $25 when you refer a friend to Payoneer.

Here are the requirements for opening a Payoneer account in Nigeria and other countries.

  • Valid email address.
  • Valid postal, office or home address for delivery of your Payoneer Mastercard.
  • Valid photo ID eg Nigeria drivers license, international passport, National ID card, etc

How to open a Payoneer account in Nigeria and other countries

  • Visit, click on sign up and fill in the form as follows…
  • Fill in your name, address, etc as it is on the ID card you want to use for verification.
  • Set password, Secret Question and Answer and select your ID type. Provide the details of the ID as required.
  • Provide your bank account details as required. You can google the SWIFT/BIC for your bank.

Payooner account
Payooner account
Payooner account
Payooner account

Now you are almost done just wait for email notification from Payoneer if you are approved go ahead and fund your account with $30 in other to order for Payooner MasterCard which will bring us to

How to fund Payoneer account in Nigeria and other countries

I know some are still finding it difficult in funding their Payoneer account so I will be showing you the easy way to fund your Payoneer account. To do this, log in to your Payoneer account, click on receive payment, there you will see your USA payment service profile, copy the information details which include Bank Name, Routing, Account Number, and Account Type.

Now take it to your bank account manager and let them know you want to fund your Payoneer account with the following details and the amount and wait for the confirmation. It should take up to 10-20 minutes for it to reflect on your Payoneer account. Hey wait, that’s not all, you still need more work to do and that is after you request MasterCard.

Payoneer virtual card: How to request Payoneer Mastercard.

To request your Payoneer MasterCard, you must have the following government-issued card…

  • International passport
  • Driver’s license
  • National UD card

Payooner account

With this above requirements, you will be asked to enter the number on your ID document and can even be asked to scan a photo of the document and send from time to time especially when you want to make some changes to your account details that’s why it’s advisable to use the correct details just as it’s on your ID document. Click on the drop-down menu and click on the order card.

How to activate Payoneer MasterCard

To activate your Payoneer MasterCard log in to your account and click on to view your status and activate your card Click Here! Follow the on-screen instructions to activate your card. You can also activate your account through your mobile phone by calling the activation service at 1-888-802-4442 (within the US) or 1-646-386-2392 (International).

How to get US virtual bank account

After activating your account you need to get a USA virtual bank account. Log in to your account using your Gmail account and click on the drop-down menu and select the USA virtual account and follow the instruction.

Sign up for Payoneer account now

Can I withdraw from Payoneer in Nigeria

Yes, you are allowed to withdraw from your Payoneer account in Nigeria. The prepaid MasterCard debit cards the company issues you are acceptable in most of thousand of Automated Teller Machines (ATMs) across Nigeria.

Payoneer Exchange Rate in Nigeria

The Payoneer exchange rate in Nigeria is N360. However, if you are withdrawing the fund through a to your Nigerian bank, the rate will be slightly below the CBN. It mostly depends on your Bank.

How to withdraw from Payoneer to Nigeria Bank Account

To withdraw your money to Nigeria account follow the steps below.

Step 1: Log in to your Payoneer Online Account.

Step 2: Then from the menu, go to “Withdraw” and then “To Bank Account”.

Step 3: Now select the account to which you are transferring the funds.

Step 4: Fill in the details of the transfer and click “Continue”.

Step 5: Fill in the Security Confirmation page and submit.

Best bank to withdraw Payoneer in Nigeria

The best Bank to withdraw the Payoneer fund in Nigeria is First Bank, Zenith Bank, and GT Bank. I have been using First Bank for more than two years now and their exchange rate is the same as the Black market. So I recommend them to anyone.

Zenith Bank and GT bank has a nice review as well. My friend has been using GT Bank and he is still using them. So GT is another best bank to receive Payooner funds and other wired transfer as well.

In case you have any question or you are still finding it difficult, use the comment box and we will get back to you. Please don’t forget to share this and also try to leave a comment below.

13 thoughts on “Payoneer Account In Nigeria, Exchange Rate & Bank Withdrawal”

  1. Thanks for ones marvelous posting! I truly enjoyed reading it, you are a great author.I will always bookmark your blog and will eventually come back later on. I want to encourage yourself to continue your great posts, have a nice evening!

  2. This post is 2018 but I just got here , I dont know if I’m already too late to get a reply but I will appreciate if I get a reply …
    My question is if I’m crediting let’s say $100 to my payooneer account, at what rate will the bank convert it , is it the normal exchange rate or black market rate

    • When you withdraw it through Bank, the Bank will covert it using its own Rate. I recommend First Bank because their conversion rate is the same as the Black market rate.

  3. So glad i found this blog, it’s been very eye opening but i still have a few questions

    I’ll be receiving funds from a European based company,so i was asked to submit BIC and IBAN,very confusing things,i sweated looking for them

    I think i found it on the receive Global payment column,i clicked on the UK ,saw Barclays Bank, sort code etc

    But I’m still not sure if that’s what I’m looking for

  4. hello, i sent this comment earlier but didnt show not sure if it delivered or waiting for approval.
    I just want to be sure i got the information correctly. do you mean if i withdraw from my payoneer account for a first bank account, i will get it at the current black market rate of N500/$1?

  5. Hi.. just stumbled on this post and it was a good read… Wanna ask. I opened my payoneer as a business instead of individual … Can I still receive money into my payoneer account from an individual abroad …. Or is it possible to convert a business payoneer account into individual? …. I’d appreciate if I get an answer soonest. Thanks

  6. Can I use payonneer in thiar 2021 ? Then, Can I receive crypto currency payment on my verified payonneer account?


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