3 mins read Bills & Payments

How To Receive International Payments in Nigeria

There is nothing more frustrating than not being able to receive your hard-earned money due to rigid or limiting banking regulations in your home country. With an increasingly interconnected global economy, receiving payments from clients or partners abroad has become essential.

To avoid being left behind, it is important to understand how to leverage payment methods to your benefit. This article aims to teach you how to receive international payments in Nigeria.

Top 6 Best Ways To Receive International Payments in Nigeria

The best ways to receive money internationally in Nigeria include gift cards, bank transfers, cash pick-up, a domiciliary account, Paypal, and Payoneer. 

1. Accept Gift Cards:

An image of a man holding gift cards.

Gift cards remain one of the most convenient and quickest means of receiving international payments. The sender can send the gift card details to you via social media or email, and you do not have to worry about any bank hassles or long wait times. After receiving your gift card, you can then proceed to sell your gift card for cash on Cardtonic. The Naira equivalent will drop in your account in less than 5 minutes. Another reason why gift cards are a perfect means of receiving payments in Nigeria is that they are a store of value. You can keep your USA, CAD, GBP, and gift cards and sell them when rates are high. For example, if you receive five pieces of $200 Apple gift cards, you can decide to sell just three and keep the remaining two for as long as you like. 

2. Bank Transfers: 

You can receive a bank transfer from foreign bank accounts directly to your Nigerian bank account. However, your payment will automatically be converted to Naira at the official bank rate. 

3. Cash Pick-Up: 

You can also go to your local bank branch and receive your Foreign currency over the counter. Platforms such as Western Union, Moneygram, Sendwave, etc., make this possible. Not every bank supports this means of payment, so be sure to confirm with your bank before opting for this method. Another downside is the long wait time at the bank and the possibility of an FX cash scarcity.

4. Open a Domiciliary Account :

 You’ll need a domiciliary account to receive international bank transfers directly. This account allows you to hold foreign currencies such as USD, EUR, or GBP. Each bank has specific requirements before allowing you to open a domiciliary account, so you need to contact your Nigerian bank to be sure what theirs entails. Usually, you will need to meet requirements such as having a current account at their bank, bringing two guarantors,  and providing documents like a valid ID, utility bill, proof of income, etc. I know, hectic, right? 

5. Paypal:

 Payment gateways like PayPal offer convenient ways to receive payments online. Sign up for an account, link your Nigerian bank account or domiciliary account, and follow their verification process. It is important to note that you can only use a business account to receive money via PayPal, not an individual one. 

6. Payoneer:

Payoneer is another platform similar to PayPal. Here, you can receive payments with individual accounts, but you are limited to a $20 minimum withdrawal amount and a $3,000 maximum withdrawal amount.

Frequently Asked Questions About Receiving International Payments in Nigeria 

1. What Are The Best Ways To Receive International Payments in Nigeria?

The best way to receive international payments from Nigeria is through gift cards. With gift cards, you skip additional fees/ charges, long wait times, and other bank hassles. You can then easily sell your gift card for cash. However, you can also receive payment internationally via bank transfers, cash pick up at your local bank, Paypal, Payoneer, or opening a domiciliary account. 

2. Which Bank in Nigeria Can Recieve Dollars?

Any bank that allows you to open a domiciliary account can receive Dollars in Nigeria. For OTC cash pick-up, you can use banks like Zenith, Access, or Ecobank.

3. Which App Can I Use To Recieve Foreign Currency in Nigeria?

You can use Apps like Paypal or Payoneer to receive foreign currency in Nigeria. However, you need a business account for PayPal, and there are withdrawal limits on Payoneer. 

4. Where Can I Sell My Gift Cards For Cash in Nigeria?

Happy Man in a Cardtonic Merch.

The best place to sell your gift cards for cash in Nigeria is on Cardtonic. This is because Cardtonic is the most secure gift card exchange platform and also offers the best rates in the market. 


In conclusion, by using methods like accepting gift cards, bank transfers, cash pick up, and opening a domiciliary,  Paypal, or Payoneer account, you can seamlessly receive international payments in Nigeria, empowering you to grow your business or freelance career on a global scale.


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