Payoneer Nigeria: How to Open, Fund, and Use an Account

Since PayPal is yet to allow Nigerians to receive and withdraw funds, most freelancers in Nigeria are now using Payoneer as their choice of e-wallet.

In this post, I have put together all the information you need on how to open, fund, and use a Payoneer account wherever you are in the world.

If you are freelancers, professionals, or operate e-commerce businesses, having a Payoneer account allows you to easily and quickly pay and get paid online. It is a popular and accepted means of payment for most online gigs.

Operating a Payoneer account will make it easier for you to pay your clients or get paid no matter the online marketplace you deal with, either Fiverr, Envato, Airbnb, Upwork, and so on.

Using Payooner for your online transaction is safe to the extent that it is closely regulated in the United States and the European Union.

The online payment system is also registered in Hong Kong, Japan, Australia, and Canada.

I am going to show you how you can create and start using a Payoneer account.

Opening the account is free of charge, but it may cost you some fees whenever you make transactions like receiving, sending, and withdrawing funds.

The same thing applies to every other payment gateways too.

But before we proceed, let’s quickly look at who should ideally use a Payoneer account and what it is used for.

What is a Payoneer account best used for?

It is a pure fact that Payoneer has successfully become a better alternative for using PayPal.

An added advantage is that you can create the account for free and even get the Payoneer MasterCard (ATM) delivered to your house within 2 weeks!

People who should be more interested in opening and using a Payoneer account are freelancers or internet marketers looking for an alternative, reliable medium to send and receive money with ease.

Way back, So many people have lost many foreign clients because they know no medium of payment.

Paypal came with its payment solutions but over time, people became frustrated with it because of the risk attached to using it, especially as an unverified account.

So if you are looking for a better option to send and receive money globally with ease, then you should be thinking about opening and using a Payoneer account.

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how to open Nigerian payoneer

Step-by-step guide on how to open a Payoneer account

If you have ever used any payment gateways before, then you may find only a few things new when creating your Payoneer account. But what about noobs?

So the steps involved in creating a Payoneer account and getting approved easily are detailed below.

First of all, open your browser and log on to

Click on the “Sign Up” button that can be seen on the homepage.

This will take you to a registration page where you will need to fill in your data and this should be done honestly because your information will reflect on the government-issued I.D card you want to use.

When filling in your Identification Number (NIN), make sure that the address registered with your ID number is the same you use when registering for your Payoneer account.

You will be asked to also Enter your correct date of birth.

You may also be asked to enter your Postal code or Zipcode, it a 6 digit number that verifies where your town is located and you can derive it by quickly going to Google on another tab and searching for ‘Your Town Zip Code’

Click on “SUBMIT” after you have filled in all the data.

Afterward, you will wait for a moment before your account is approved as your new account will be under review.

You can be sure to get feedback in no time that your account has been approved when you sign up with the correct information on your National ID card or any government-issued card.

Now that you have successfully created a Payoneer account for yourself, it is time to start making transactions, and you start this by linking the account to your bank account. (more on this, later)

How to fund your Payoneer Account

When funding your Payoneer account, you do not need to involve a third party, apart from your bank who is trusted. So to fund your Payoneer account:

Log on to the Payoneer home page and log in to your account

Click on receive payment

If you are in the US, click on My US Payment Service Profile. You will see the respective options for the country you registered with.

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The details you will see afterwards includes the following:

Bank Name.
Account Number.
Account Type.

For ease, you can take all the details above to your bank and tell any of the workers there that you would like to fund your Payoneer account.

They will help you fund using the details listed above. The funds will reflect in your Payoneer Account in a maximum of 30 minutes.

After your Payoneer account has been funded, you can proceed to shop online or pay for goods and services with the use of your Payoneer Account Debit card – this, you should have before this time.

How to make payment with your Payoneer account

The best part of making a payment with your Payoneer account is that there is no fee attached when the recipient is a Payoneer user.

Payments to other Payoneer customers are fast as bank transfers are within a day.

To make payment with your Payoneer account:

Log in to your account on the Payoneer homepage

Click on the dropdown menu under Pay and select Make a Payment

Select the make a recipient’s Payoneer balance option or their bank account

Enter the relevant details on the screen and proceed to click Pay.

How to receive funds to your Payoneer account

As the recipient, you do not have too much to do when receiving funds to your Payoneer account.

The sender of the funds should follow the steps above on how to make payment with his or her account.

The sender will have to enter the email address associated with your Payoneer account

And also input the amount of the funds.

Receiving funds into your account should not take more than 5 business days from the day you receive the confirmation email.

How to withdraw funds from your Payoneer account

Follow the steps below to successfully withdraw funds from your Payoneer account to your local bank account.

Go to the Payoneer home page and log in to your dashboard.

Click on “Withdraw” and finally click on “To Bank Account”.

It may not be the same when you are operating from a mobile view, on mobile, you will first click the menu, and then click on “withdraw” and click on “To Bank Account”

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On the withdraw page, select the currency you want to withdraw from and then proceed to enter all the withdrawal details.

Click  the bank account you’ve already added and entered the number of  funds you want to withdraw from your Payoneer account

Make sure you check that all the details you have entered are correct before submitting.

Users should note that the maximum about you can withdraw from a Payoneer account as a Nigerian account holder begins from $5,000.

Last words on how to open and use a Payoneer account

I don’t know if you have any other questions regarding how to open and use a Payoneer account, because the guidelines outlined above are all you need as a new user, but you can share them in the comment section.

Having a Payoneer account gives you the ability to directly withdraw funds with a debit card, as well as send and receive funds domestically and internationally.

It is a better alternative for PayPal because most people are frustrated using PayPal as accounts can be held without warning.

Many small business owners are realizing that it is challenging and quite difficult to send out large sums using a PayPal account.

While Payoneer fees are slightly high at $3 per transfer, they are free to receive and delivers easy and quick transactions.

I strongly believe that this guide has shown you all you need to know about creating an account with Payoneer and using it to make your online transactions.