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Best Way To Receive International Payments In Nigeria

Best Way To Receive International Payments In Nigeria(1)

Are you faced with the dilemma of how to receive international payments in Nigeria? This article is just for you. This post on the best way to receive international payments in Nigeria is for online merchants or a freelancers that offers services or sells products online to the international market

In a country that is economically tough, having to receive money from clients, family, and friends abroad is a big excitement. Although there were some challenges involved in using international money transfers as they were time-consuming due to paperwork for both the sender and recipient.

Best Way To Receive International Payments In Nigeria(1)

Good news! Sending money from overseas countries like the US, UK, Canada, Germany, Australia, Denmark, France, and Belgium is like eating pizza. It is now so easy that the whole money transfer process can be done in less than 2 minutes.

Just as local banking is easy, so is International money transfers. We have enlisted the easy and fast ways to receive money from overseas. So when next you think of sales or rendering services online, have no fear as you will get your money without delay.

Let’s share the best 10 ways to receive money from overseas in Nigeria

10 Best Way To Receive International Payments In Nigeria

Are you looking for how to receive money from abroad in Nigeria? We will be sharing 10 very fast and effective companies for receiving international payments.

1. WorldRemit

The WorldRemit affords you the ease to receive money from clients, family, and friends residing abroad at low service rates. This platform makes it easy and fast as all the sender need is a computer, smartphone, or tablet device.

They permit senders in 50 countries to instantly send money via the app or online to receivers in 150 countries, including Nigeria and other countries across Africa.


It is a fast and secure service that allows you to transfer and receive money online using a computer, smartphone. You can access the service via an app or smartphone from anywhere and at any time.

There are steps to take for you to either send or receive money and depends on the bank branch you choose to make your withdrawal at.

Step 1: You will be required to provide the following information to the sender;

  • Account name
  • First Name and Surname
  • Your NUBAN number
  • Bank name

Step 2: The sender will need to complete a send form indicating the account deposit option and providing the details supplied by the Receiver.

Step 3: Once the transaction is completed both Sender and Receiver will get an instant confirmation from the WorldRemit system once the transaction is successful.

You receive money in Nigeria via instant bank transfer to all major banks and your cash can be picked up easily from any FCMB, Gtbank, First Bank, Access Bank and other bank branches in partnership with WorldRemit closest to you.

The uniqueness of this company is that over 90% of bank transfers to Nigeria arrive in less than 10 minutes.

2. TransferWise

TransferWise affords you the luxury of a reliable way to receive money from another country as clients, family, and friends overseas can easily and securely send you payment via their credit cards, debit cards, or bank account.

It takes less than an hour to receive your payment using their easy and user-friendly online application. Although, how fast you receive payment depends on the option your client used in sending the money


They convert money at an inter-bank rate with no additional hidden charges. Your sender can transfer through different options including;

Debit Card

It is cheaper than credit card, as credit cards are more expensive to process. It is easy and fast.

Credit Card

TransferWise accepts Visa, MasterCard and some Maestro cards

PISP (Payment Initiation Service Provider)

This form of Payments is instructions you give TransferWise to make a bank transfer directly from your bank account.

Read also:

3. MoneyGram

MoneyGram offers a secure way to receive your money within minutes. Requirement: Visit the nearest MoneyGram agent location to you, provide a Reference number and a valid photo ID (passport, national ID or residence permit) for identification. It is fast, easy and extremely reliable way to send money and the best way to receive international payments.


4. Western Union

This used to be one of the go-to money transfer services for Nigerians because of its ease-of-use nature. It is the oldest in Nigeria.

You can receive money from anywhere in the world with Western Union either via cash pick-ups at Agent locations. It can also be directly sent into your bank account here in Nigeria within minutes of the money being transferred.


How to collect your money from western union agent

Once you have located an agent around you, you are required to complete a form ‘To Receive Money’ form using printed, capital letters. You are required to provide the following information;

  • Sender’s name
  • Where money was sent from
  • Test question and answer (if applicable)
  • MTCN if required

Once you completely filled the form, present an ID with the form to the agent. The agent will then check your ID, sign the receipt and ask you to sign. You can then collect your money.

How to collect your money on western union using the mobile application

It is easier to receive money quickly and easily on your mobile phone via their mobile money transfer service.

This depends on the services offered by your mobile service provider, you can use the money to pay bills, buy goods and services, purchase minutes, and withdraw cash.

Follow the steps below for mobile transactions.

  • Ask your sender to choose ‘receiver’s mobile wallet’ as their payout option and make sure they have your correct mobile number with country code.
  • You will get a text message after the money is added to your wallet.

5. RIA Money Transfer

Ria Money Transfer enables customers to receive money from overseas directly into their bank account. No paperwork is required. No need to provide identification, a reference number, or authentication code.


With a bank account with the following banks like First Bank, Diamond Bank (now Access Bank), Polaris Bank(SKYEBANK) and Ecobank, you can receive money directly into your bank account through the money transfer platform.

Sad because you do not have an account with any of the above listed banks, there is still hope. You can still receive money through Ria. Go to any of the Ria-Partner banks and provide these details: 

  • Proof of identification
  • Sender’s name and address
  • Your own personal information
  • The amount you are expecting 
  • The transfer pin (given to you by the sender).

To receive money in Nigeria, your sender (client) should use the following steps;

  • Create your free account in under 2 minutes or log in if they already have one.
  • Start a money transfer using their bank account, credit, or debit card.
  • Confirm that everything looks right and hit send! Your money is on its way.

You can choose to get your money through an agent or get it nice and easy via the mobile application.

6. Payoneer

For Freelancers, this is the most used in Nigeria after Paypal. They aid better payment link between the seller and the buyer overseas.

It provides a secure and easy alternative for Nigerians to continue receiving money from overseas. It works exactly as PayPal does.


How long does it take to receive payment from Payoneer?

It usually takes 2-5 business days for the funds to reach your bank account after you receive the confirmation email. Transfers within the US usually take 2-3 business days.

To receive money through Payoneer in Nigeria, you have to register HERE. After registering, you get a virtual bank account number to use anywhere for instance:

  • Visit the website or platform (FiverrUpworkFreelancer, etc.) where you are to claim your earnings.
  • Select Payoneer from the list of payment options.
  • Follow the on-screen prompts and click Already Have an account?
  • Provide your Payoneer login details and follow the instructions. Pretty simple!

Once your client or customer sends payment, the company will receive a transfer command from them and send funds to your bank account. Note that depending on your bank, charges are applied to using Payoneer

7. Skrill

Skrill is a Europan online payment system that can be used by Nigerians and some other 200 countries/territories in the world.


How to receive money from skrill

Receiving money from other Skrill users is either by having them send money to you directly or through a cart on your website after opening and setting up your account.There are two types of Skrill accounts; Personal and Business accounts.

Personal skrill account

This is the best choice of account type for an individual who plans to receive money or make online purchases and other international transactions. With your personal account, you can;

  • Send money
  • Receive money
  • Shop online
  • Purchase cryptocurrencies

skrill Business account

This is suitable for business owners who want to receive payment from their customers. With this account, the payment solution can be integrated into your website easily. This means that you can receive payments from your customers. They can pay for your products/services with a credit/debit card, from the wallet, or transfer without you having to wait too long.

Note: You need to be consistent to enjoy using Skrill as a monthly service fee of EUR 5.00 (or equivalent) might be deducted from accounts that do not perform transactions within 12 months.

8. PayStack

Paystack is the best fit for business transactions. With a combination of automated and manual fraud systems, it protects you from fraudulent transactions and associated chargeback claims.


To create an account with Paystack is easy and straightforward, as it does not require too much information. It is free to create an account with them.

They only charge a service fee of 3.9% + ₦100 per international transaction. They process billions in transaction value monthly because many merchants find them easy to use.

You can receive your payments from Paystack in USD instead of Naira.

For merchants with websites, just set up Paystack on your website, integrate your Paystack keys at your backend, and that is all.

The client receives the invoice in their email with a Pay Now button, which redirects them to a page where they can make the payment.

Once the client makes a payment, you receive it instantly in your Paystack account. Quite easy, right? Now, you understand why Paystack is unarguably the best at what they do.

To know more on the following:

What if I don’t have international payments enabled?

What if they require additional verification documents?

How do I add my USD domiciliary account on Paystack?

How much does Paystack charge for USD transactions?

Full details on Paystack

9. Rave by Flutterwave

Flutterwave offers you a means to receive payments in multiple currencies around the globe. The Flutterwave platform ensures ease and convenience to initiate transactions from your comfort zone.

To receive money through Flutterwave, all that is required is for you to create an account on the platform, provide your local bank account details, and start receiving money from all over the world. 

Rave allows you to receive payments locally and globally directly from bank accounts, cards and mobile money wallets with no hassles and zero set up fees. Flutterwave charges you 3.8% of each international transaction you carry out.

10. Domiciliary Account-International Bank Wire Transfer

This is one of the most convenient and secure ways to receive money from anywhere in the world.

A Domiciliary account can be opened in any of the local banks around. It is advisable to have this account if your clients or customers are majorly dwelling in one particular country. This is because there are various account types for different currencies.

If you have a domiciliary account set up, the sender would require certain information to successfully wire the money. The requirement to send money to Domiciliary account;

  • Your account name
  • Account number
  • Bank name
  • Bank address
  • Your bank Swift Code and Routing Number.

For you to receive the money, you will need to visit your bank and fill out a slip given to you by the person who oversees foreign transactions. Now you have full control and can decide if the money is to be converted to Naira.

Wrapping up

We can now see that it is easy to make international transactions and receive money from Nigeria. From the different ways to receive money from abroad in Nigeria, you can make a choice of which method befits you.

Kindly leave your comments in the comments section below. We’ll love to read from you. Finally, please share and be blessed as you do.

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