Best Platforms to Receive Foreign Payments in Nigeria (2025 Guide)

In Nigeria’s booming freelance and e-commerce scene, receiving foreign payments efficiently has become more important than ever. Whether you’re a freelancer, digital marketer, content creator, exporter, or online business owner, getting paid from clients abroad is crucial to your workflow—and your wallet.

The Central Bank of Nigeria (CBN) has had a tight grip on the foreign exchange market, and with constant changes in financial regulations, choosing the right platform to receive payments can be challenging. But don’t worry, we’ve done the research for you.

Here are the best platforms to receive foreign payments in Nigeria in 2024, based on reliability, exchange rates, transaction fees, speed, and ease of withdrawal.

🏆 1. Payoneer

Overview:
Payoneer remains a top choice for freelancers and businesses in Nigeria. It offers multi-currency accounts and lets you receive payments like a local in USD, EUR, GBP, and more.

Features:

Receive payments from US, UK, EU companies
Compatible with platforms like Upwork, Fiverr, Amazon, and Airbnb
Offers virtual bank accounts (US, UK, EU)
Free Payoneer-to-Payoneer transfers
Withdraw directly to your Nigerian bank account or use Payoneer card

Pros:

Excellent for freelancers and online sellers
Competitive exchange rates
Secure and globally accepted

Cons:

$30 annual fee for the card
Withdrawal delays may happen during system updates

Best For: Freelancers, Amazon sellers, affiliate marketers, and digital agencies.

💰 2. Grey (formerly Aboki Africa)

Overview:
Grey is a rising fintech startup that offers virtual USD, GBP, and EUR accounts to Africans. It allows easy cross-border payments and is well-suited for freelancers and remote workers.

Features:

Virtual foreign bank accounts
Instant currency conversion
Withdraw to Nigerian bank accounts
Send money to international recipients
Mobile and web apps

Pros:

Fast and user-friendly interface
Excellent for receiving from Stripe, Deel, PayPal, etc.
Transparent currency conversion rates

Cons:

Limits may apply based on verification level
Customer support can be slow at peak hours

Best For: Freelancers, remote workers, consultants.

💼 3. Wise (formerly TransferWise)

Overview:
Wise is a trusted international money transfer service that allows you to receive payments like a local in multiple countries.

Features:

Receive money in USD, EUR, GBP, AUD, and more
Offers international bank details
Low-cost transfers
Withdraw to Nigerian banks (in NGN)

Pros:

Super low transaction fees
Real mid-market exchange rates
High-level security and regulation

Cons:

Doesn’t support PayPal withdrawal in Nigeria
Verification may take time for new users

Best For: Freelancers, consultants, remote workers with international clients.

🌍 4. Geegpay by Raenest

Overview:
Geegpay is a great solution tailored for freelancers and digital entrepreneurs. It offers USD, GBP, and EUR accounts with seamless conversions and withdrawals.

Features:

Create foreign currency virtual accounts
Convert FX to naira and withdraw
Debit cards for online transactions
High transaction limits

Pros:

Good for receiving Stripe, Deel, and Fiverr payouts
Mobile app with great UX
Excellent exchange rates and transaction speed

Cons:

Customer verification can take a few days
Not ideal for heavy corporate transactions

Best For: Digital service providers, freelance developers, affiliate marketers.

💻 5. Paystack & Flutterwave (Barter)

Overview:
While mostly used for collecting payments from customers globally, both Paystack and Flutterwave (with Barter) have tools for receiving international payments from clients.

Features:

Accept payments via Visa, Mastercard, and PayPal (for merchants)
Set up a payment link or invoice
Withdraw to local Nigerian accounts
Flutterwave offers a virtual dollar card through Barter

Pros:

Trusted and CBN-compliant platforms
Great for small businesses
Allows custom invoicing

Cons:

Not ideal for personal freelance gigs
Can have longer processing times for USD

Best For: Online stores, SMEs, and service-based businesses.

🌐 6. Skrill

Overview:
Skrill is an international wallet service that supports sending and receiving money globally. It is still active in Nigeria and supports dollar transactions.

Features:

Receive payments from abroad
Send funds to bank accounts or cards
Currency exchange options
Available on mobile and web

Pros:

Widely used in forex trading and online gaming
Easy to set up and use
Supports crypto options

Cons:

Higher withdrawal fees
Exchange rates not always favorable

Best For: Forex traders, gamers, freelancers in specific industries.

📱 7. Chipper Cash

Overview:
Chipper Cash is a growing app for sending and receiving money across African countries and beyond. It also supports cross-border payments from the UK and US.

Features:

Mobile-first money transfer platform
Free transfers within supported regions
Virtual USD card
Crypto and stock features

Pros:

Easy to use
Virtual card is useful for online payments
Great for small transfers

Cons:

Not designed for business-scale payments
Dollar limits on cards can be low

Best For: Students, small-scale freelancers, and peer-to-peer payments.

💳 8. Paypal (With Workarounds)

Overview:
PayPal does not allow Nigerians to receive money directly. However, with platforms like Grey, Payoneer, and Deel, users can indirectly receive PayPal funds by routing them through foreign virtual accounts.

Options:

Use a UAE or US PayPal account (via a verified method)
Link to Payoneer or Grey USD account
Withdraw indirectly

Pros:

Still the most recognized payment platform worldwide
Easy invoicing for clients
Works for marketplaces like Envato

Cons:

Complicated setup in Nigeria
PayPal restrictions on Nigerian accounts

Best For: Experienced freelancers who understand the workaround process.

📂 9. Deel

Overview:
Deel is a global HR and compliance platform that helps businesses hire and pay remote workers. It’s ideal for full-time remote employees and long-term freelancers.

Features:

Contract generation and compliance tools
Supports Payoneer, Wise, Grey, and direct bank withdrawals
Multiple payment options (crypto, ACH, SWIFT)
Built for professionals working with international startups

Pros:

Zero hassle payments
Great for regular monthly income
Secure and trusted globally

Cons:

Only works if client/employer uses Deel
Requires company on the other end

Best For: Full-time remote workers and long-term contractors.

🛍️ 10. Cryptocurrency (USDT, BTC, etc.)

Overview:
Many Nigerians now use crypto wallets like Binance, Trust Wallet, and Coinbase to receive payments, especially when traditional options fail.

Features:

Fast global transactions
Can be converted to naira via P2P
Decentralized and private
Lower fees compared to SWIFT

Pros:

Instant and borderless payments
Useful for countries with financial restrictions
P2P exchanges make conversion easy

Cons:

Price volatility
Regulatory risks in Nigeria
Requires crypto knowledge

Best For: Tech-savvy freelancers, crypto traders, international clients.

✅ Final Tips: Choosing the Right Platform

When deciding which platform to use for foreign payments in Nigeria, consider the following:

🔹 1. Nature of Your Work

Freelancers: Payoneer, Grey, Geegpay
Employees: Deel
Small businesses: Paystack, Flutterwave
Informal transfers: Chipper, Crypto

🔹 2. Payment Frequency & Volume

High volume: Wise, Payoneer
Occasional or low volume: Grey, Chipper Cash

🔹 3. Speed & Charges

Fastest: Crypto, Grey, Geegpay
Lowest fees: Wise, Geegpay, Payoneer

🔹 4. Security

Always ensure your account is well-protected with 2FA (Two-Factor Authentication) and only use verified apps and websites.

🧾 Conclusion : Receive Foreign Payments

Receiving foreign payments in Nigeria is no longer a struggle in 2024—if you choose the right platform. Whether you’re a freelancer, remote worker, or online entrepreneur, platforms like Payoneer, Grey, Wise, and Geegpay make it easy, fast, and secure to get paid from anywhere in the world.