Thursday, February 15, 2024

How to open a Payoneer account in Nigeria– The Ultimate Guide

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Adetunji Matthew
Adetunji Matthew
I’m Adetunji Matthew, an Economist, Social Media Manager, software Developer/Marketer Sales Consultant, and Ecompreneur. I’m popularly known as “Matt” As an artist and designer, I aim to create something brilliant daily. Eager to learn more, I use my free time to get better at w hat interests me, whether it's researching, teaching, or even something entirely new.
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Do you want to learn how to open a Payoneer account? If yes, then this tutorial is for you. Plus, we have included several images to guide you step-by-step so you don’t make any mistakes along the line.

What is Payoneer?

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 limitation 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 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 business transaction with your international customers.

Payoneer requirement

Below are the requirements to open a Payonner 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

Benefits of Opening Payoneer Account In Nigeria

  1. You can open Payoneer account in Nigeria Free of charge
  2. You can create virtual bank accounts to receive payments from american and european companies
  3. You can apply for a debit card which you can use for online payments and for funds withdrawal at ATMs.
  4. You don’t need to change your IP address or use VPN to access Payoneer website in Nigeria.
  5. You don’t need to use fake information to get a Payoneer account in Nigeria.
  6. Payoneer is safe and trusted in over 150 countries.
  7. Once you receive $1000 in payments into your Payoneer account, you will receive a $25 reward from Payoneer.
  8. You can use Payoneer account to receive payments from freelancing marketplaces like fiverr, Upwork and other websites that accept Payoneer as payment method etc
How to open a Payoneer account in Nigeria– The Ultimate Guide 13

How to open a Payoneer account in Nigeria

Here are the steps you need to follow to own a Payoneer account for free:

Step 1. Visit Payoneer here and click on sign up.

Open Payoneer Account In Nigeria
How to open a Payoneer account in Nigeria– The Ultimate Guide 14

You can visit the official Payoneer website by clicking on this link.

On the homepage, you will discover two sign up buttons. One on at the top right corner, the other at the bottom left corner. Just click on anyone.

Step 2. Enter your Personal Details in the spaces provided.

Payoneer Signup
How to open a Payoneer account in Nigeria– The Ultimate Guide 15

Fill all the details in their respective boxes. The data you enter must correspond with what you have on your means of identification. You must treat your Payoneer account like you would treat your official bank account because that is what it is.

After filling in all the required details, click on next.

Step 3. Fill in your contact details.

Payoneer Signup 2
How to open a Payoneer account in Nigeria– The Ultimate Guide 16

Enter your contact details in the boxes provided. Mine indicates Nigeria because I live in Nigeria. If you live in the UK, USA, The Philipines, or any other country, just make sure you select the appropriate one.

Make sure you enter the correct address. Like I said earlier, that is where your Payoneer card will be shipped to. After successfully entering your contact details, click on next to proceed.

Step 4. Enter Security details.

Payoneer Signup 3
How to open a Payoneer account in Nigeria– The Ultimate Guide 17

Now, enter your security details in the boxes provided. Choose a password easy for you to remember but difficult for others to guess.

Enter a security question and provide an answer to that question.

The security question will be used to confirm your identity in case of any issues.

The country has been specified. However, you can change it if your means of identification is from another country.

Step 5. Enter local bank account details

Payoneer Signup 4
How to open a Payoneer account in Nigeria– The Ultimate Guide 18

Enter the exact match of your local bank account details in the boxes provided. This is important if you intend to perform bank wire transfer from your Payoneer account to your local bank.

If you don’t know your SWIFT/BIC, make a google search for your bank BIC. For example, visit and search for ‘UBA Swift code’, ‘GTB Swift code‘ or any other bank swift code.

After completing all the details, click to agree to terms and conditions and pricing fees and then click on submit.

You should get a congratulations message like this:

Payoneer Congratulation
How to open a Payoneer account in Nigeria– The Ultimate Guide 19

If you followed all the steps in this guide, You will also get an email confirming that the review of your application is in progress.

The Payoneer team will conclude the review of your application in less than two working days. In fact, mine didn’t last for up to 6 hours.

I got an email like this.

Payoneer Email
How to open a Payoneer account in Nigeria– The Ultimate Guide 20

Congratulations. You have a Payoneer account!

Once you are done filling the application form, wait for email notification from Payoneer about the status of your application.

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
How to open a Payoneer account in Nigeria– The Ultimate Guide 21

2. Request Payment from your clients

Another way to receive Payment with Payoneer is to login to 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 the 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 UpworkFiverr 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

How to open a Payoneer account in Nigeria– The Ultimate Guide 22

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.

Payonner Withdraw Money
How to open a Payoneer account in Nigeria– The Ultimate Guide 23

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

Payonner 1
How to open a Payoneer account in Nigeria– The Ultimate Guide 24

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 world wide. 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.

Frequently asked questions (FAQ)

How can I open a Payoneer account in my country?

A lot of people have asked me recently – How can I open a Payoneer account in the UK? The answer is, the processes and requirements for opening a Payoneer account in any country are virtually the same. All you need to do is specify your country during sign up.

Can I own a company Payoneer account?

By all means. You can open a Payoneer account in the name of your company or as an individual. All you have to do is specify this during sign up.

What are the required details to open a Payoneer account?

The required details are not too many. It is completely free to open. You need the following information or details:

  • An email account.
  • Address (postal code and residential address): Make sure you use the correct postal code. It is where your Payoneer card will be shipped to. Check for your postal / zip code here if you live in Nigeria.
  • Local bank account: The details of your local bank accounts will be requested for.
  • Means of Identification (I.D card, voter’s card, Driver’s license, International Passport): If you have a temporary I.D card slip, you can as well use it. As far as it has your National Identification number.

Why do I need a Payoneer account?

If you are a freelancer, entrepreneur or you just need to receive money from abroad and also be able to send money to others, then you really need to open and verify your Payoneer account.

Payoneer is one of the best online money transfer companies for individuals looking to receive money online for whatsoever reason. It’s way cheaper than western union and direct bank wire transfer.

Personally, as a blogger and a freelance writer, I can tell you without doubts that owning a Payoneer account is one of the best things that has happened to my business.

After working for clients online and survey companies where I was unable to receive my funds – due to the fact that PayPal isn’t supported in my country, I went in search of the best alternatives to PayPal, which I found in Payoneer.

Companies/merchants that pay workers/customers with Payoneer

You might want to know what you can do with your Payoneer account, and the merchants and freelance websites that pay their freelancers using Payoneer. I have made a list of them in my review on freelance websites.

Not just freelance websites, Payoneer is accepted by a wide range of companies (See the list of those companies). So, if you work with any of those companies, you can easily receive your payments from them using your new Payoneer account.



  1. without the master card i cant receive any payment? Can’t i transfer the money from my payoneer account to my local account and withdraw?

  2. Is it compulsory to request for a mastercard tho
    Or money can be transferred from the payoneer account directly into my local bank account?

  3. 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.

  4. Bank processing fees, landing fees, or other intermediary fees may be deducted from the withdrawn amount by your bank or any other payment provider not directly associated with Payoneer.


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