How to open a Payoneer account in Nigeria (Send and Receive money)

Payoneer is an online banking platform that enables people to send and receive money online. With Payoneer users can open a virtual bank account in different currencies such as US Dollars, British Pounds, and Euros. Cards such as MasterCard and Visa are also available to users. Due to the limitations PayPal has placed on Nigerians, Payoneer is the leading alternative for Nigerians who wants to send and receive money. In this article, you will learn how to open a Payoneer account in Nigeria.

With Payoneer, you can have a U.S. Bank account that you can use to receive payment from your customers and users around the world. This is one area that Payoneer is better than PayPal, they provide users with a virtual bank account that you can use as a normal bank account to conduct transactions!

If you are from Nigeria, Ghana, or any other country that is limited by PayPal, you can use Payoneer to send and receive payment. You also get a virtual bank account to use for your business transaction with your international customers

Payoneer requirement

Below are the requirements to open a Payoneer account

  • Your full name. It should be your legal name.
  • Email address
  • Your residential address. This should be correct because it is where your Card will be sent to if you request for one
  • Date of birth
  • Your contact details
  • A government Issued ID

How to open a Payoneer account in Nigeria

Follow these steps to open a Payoneer account in Nigeria:

1. Visit the website

The first step to open a Payoneer account in Nigeria is to visit the website

2. Click to register

Click on the register button that you see on the website

Payoneer register
On the home page click on the register button

3. Fill the registration form

Fill out the registration form. Make sure that you only give accurate details.

4. Confirm your email address

You will be asked to confirm your email address. Login to your email and click on the link from Payoneer.

Congratulations. You have a Payoneer account!

How to receive money with Payoneer

Here are ways to receive money into your Payoneer account

1. Use your account number

Payoneer Global Payment Service allows you to open and operate a bank account in many currencies. Just send your bank account details to the company or individual that is paying you. That is all you need to do. Once they pay into the bank account, the money will reflect in your Payoneer account.

You can view your account number by logging into your account. Click on Receive on the top menu. Then click on Global Payment Service. There you can view your bank account details

Payoneer receive
Click on Receive

2. Request Payment from your clients

Another way to receive Payment with Payoneer is to log into your account and request payment from your clients.  It is very easy.

Just login to your account and create a payment request. Your client will receive an email with a link to make payment. Once the client makes the payment, you receive the money straight into your Payoneer account.

You can request payment by logging into your Payoneer account, then click on receive on the top menu and then click on Request Payment.

3. Use mass payout

If you are a freelancer or you deal with companies that use Payoneer as an option such as Upwork, Fiverr, and others. You just have to register your Payoneer account with them and they will automatically send payment to your Payoneer account.

4. User your Payoneer email

You can receive money from other Payoneer users. All you have to do is give them the email address associated with your Payoneer account. They will be able to send you fund from inside their Payoneer account.

How to send money or make payment with Payonner

Follow these steps to send money or make payment with Payoneer

1. Login to your Payoneer account

To send money or payment you have to be logged in.

2. Click on pay

Click on pay from the top menu

3. Select make a payment

There are two options, make a payment or Pay your VAT. The right thing to select is make a payment unless you know what you are doing

4. Choose how you want to send money

You can either pay into the recipient’s Payoneer account or to the recipient’s bank account.

5. Make payment

Follow instructions and complete your payment

How to withdraw money from your Payoneer account in Nigeria

Please note that there are two options and you can only have one! You can either have Payoneer card which will be sent to you or use your Nigerian bank account to withdraw. If you choose to go with card, you can only use the Payoneer card to withdraw money at ATMs but you will not be able to withdraw money to your bank account.

If you choose to withdraw with your bank account, you will be unable to have a card. Once you have decided to get the card, that is final, you will be unable to withdraw again to your local bank account.

Follow these steps to withdraw money from your Payoneer account in Nigeria:

1. Login to your account

You have to be logged in to withdraw from your account.

2. Click on withdraw

On the top menu you will see withdraw. Click on it

3. Select account to withdraw from

You see different bank account you have with Payoneer. Select the one that you want to withdraw from.

4. Add your bank details

Add the details of your local bank account that you want to withdraw to.

5. Complete withdrawal.

Follow the instructions and complete the process. Usually it takes between 1 to 5 working days to receiving money because it is an international bank transfer

How to order for Payoneer card

Follow these steps to order for Payoneer card.

1. Login to your Payoneer account

To order for cards you have to be logged in to your account

2. Click on settings

Click on settings on the top menu.

3. Click on Payoneer cards

When you put your mouse on settings, you will see payoneer cards, click on it.

4. Click on order now

On the new page that loads, click on order now. Once you click on that, follow the on screen instructions to compete your request.

How can you use your Payoneer card?

You can use your Payoneer card to withdraw money at ATMs worldwide. You can use the card to shop online on any website that accepts card payment. The card will either be a MasterCard or a Visa card.

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Editorial staff

Editorial staff is a platform that connects people with ideas, opportunities and latest trends in personal finance growth online and offline. It is the most read personal finance platform in Nigeria

Articles: 152


  1. I’m finding it difficult to verify my MTN contact although the verification code was sent to me but on inputting the code, it will result in valid code.

    I tried using my Airtel sim but nothing was sent to me, please, help me.

  2. Good day bro,
    My questions are:-
    1. For the sake of cost, using Payoneer card or a local bank to withdrawing money from Payoneer account. Which one is less expensive?

  3. To enable Request a Payment, you must first receive at least 5,000.00 USD. This is what I see when I click request a payment

  4. Do I need to verify my account from the verification center before I can start receiving and also withdrawing funds? or I can receive funds with the account immediately after it is approved?

  5. How long does it take to receive Payoneer funds to a local bank and I hope the CBN restrictions won’t affect those without a dorm account?

  6. My global services payment info is still under review. If I proccess withdraw into my local bank, would they pay me? My passport has been approved

  7. Can Payoneer pay to Local bank account which is not domiciliary account?, judging on CBN’s rule on no dollar should be allowed in a naira account

  8. Hey! Please can you touch on the Restrictions on the virtual accounts created on Payoneer like No Wire Transfers, Recieving money from only Business Accounts are those really real?

    And also at what exchange rate is Payoneer exchanging the dollar transfer to our Nigerian Bank account when we withdraw our Dollar funds to our local Nigerian bank accounts(NGN) ?

    And thirdly is there a limit on withdraw-able amounts like a certain amount you must have left before being able to withdraw to your local bank account (like can i clear my Dollar Account and deposit everything to my local bank account)?

    Wonderful article by the way.
    I’ll appreciate your response to my questions please

    • Hello Nathan,

      You can only receive money from businesses, not individuals. Payoneer will give you account numbers in different currencies where you can give to businesses to transfer money to.

      The exchange rate to Naira is not good. No way compared to the Parallel market. It is more like the official CBN rates.

      The minimum currently is $50. You must have a minimum of that to withdraw either to a dorm account to Naira account. And yes, you can withdraw all the money to your local account at any time provided you have up to $50.

  9. Can I open a payoneer account with my mobile phone ?

    Under the account registration in payoneer where one is asked to provide bank account type, bank country and currency what is one expected to put as a Nigerian ? Pls I do appreciate ur reply.. Thanks

  10. Please what means of identification would be used for the Payoneer account, because I only have a national id, but one tutorial I watch said only international passport? Because I have already accumulated some funds from my Amazon Associates account.

  11. I tried the steps you gave above. But I didn’t receive the verification code. I’ve tried many times, didn’t work. Am I doing something wrong?

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