How To Withdraw Payoneer In Nigeria

In today’s globalized world, receiving payments from international clients or businesses is an essential aspect for many professionals and entrepreneurs in Nigeria.

Payoneer, a trusted and widely used global payment platform, offers a seamless solution for receiving funds from around the world. This blog article will provide you with a step-by-step guide on how to receive Payoneer funds in Nigeria, empowering you to effortlessly access your hard-earned money.

Can I Receive Money Via Payoneer In Nigeria?

Yes, you can receive money via Payoneer in Nigeria. Payoneer is a widely used global payment platform that allows individuals and businesses to send and receive cross-border payments. Payoneer provides its services in Nigeria, enabling Nigerian residents and businesses to receive payments from clients, marketplaces, and companies worldwide.

To receive money via Payoneer in Nigeria, you need to follow these steps:

  1. Create a Payoneer Account: Visit the Payoneer website ( and sign up for a Payoneer account. Provide the required information, including your name, email address, date of birth, and Nigerian address. You will also need to submit identification documents, such as a valid ID card or passport, for verification purposes.
  2. Verify Your Account: After signing up, you will need to complete the verification process. This typically involves submitting your identification documents and proof of address. Payoneer will review your documents, and once approved, your account will be verified.
  3. Receive Payments: Once your Payoneer account is verified, you can start receiving payments. Payoneer provides various ways for receiving funds, including:
    a. Global Payment Service: Payoneer’s Global Payment Service provides you with virtual bank accounts in different currencies, including USD, EUR, GBP, JPY, and AUD. You can share these bank account details with your clients or companies to receive payments directly into your Payoneer account.
    b. Payoneer Billing Service: If you work as a freelancer or service provider, you can create and send professional invoices using Payoneer’s Billing Service. Your clients can pay these invoices using various payment methods, and the funds will be deposited into your Payoneer account.
    c. Payoneer Partners: Payoneer has partnerships with several marketplaces, platforms, and companies worldwide. If you are affiliated with any of Payoneer’s partners, you can receive payments directly into your Payoneer account through these platforms.
  4. Withdraw Funds: Once funds are received in your Payoneer account, you can withdraw them to your Nigerian bank account. Payoneer offers the option to link your Nigerian bank account for seamless transfers. You can initiate a withdrawal request from your Payoneer account, and the funds will be transferred to your designated bank account.

It’s important to note that Payoneer may charge fees for certain services, such as currency conversions and withdrawals. Make sure to review the fee structure on the Payoneer website to understand the costs associated with using their services.

Overall, Payoneer provides a convenient and reliable option for receiving international payments in Nigeria, making it easier for freelancers, businesses, and individuals to access funds from clients and partners around the world.

What Is The Best Bank To Withdraw Payoneer In Nigeria?

In Nigeria, several banks provide convenient withdrawal options for Payoneer funds. While the “best” bank may vary depending on individual preferences and requirements, some of the popular choices among Payoneer users in Nigeria include:

  • First Bank of Nigeria: First Bank is one of the largest and most reputable banks in Nigeria. It offers a straightforward process for linking your Payoneer account and withdrawing funds to your First Bank account. Many Payoneer users have reported smooth transactions and reliable service when withdrawing funds through First Bank.
  • Guaranty Trust Bank (GTBank): GTBank is known for its robust online banking services and user-friendly interface. Users have reported positive experiences when linking their Payoneer account to GTBank and initiating withdrawals. GTBank provides efficient customer support and convenient options for managing your Payoneer funds.
    Prior to the CBN ban on USD transactions on transactions made within Nigeria, I used to withdraw Payoneer funds to my GTB account and it went smoothly.
  • United Bank for Africa (UBA): UBA is a leading Nigerian bank with a strong presence across the country. It offers easy integration with Payoneer accounts, allowing for smooth withdrawals. UBA provides a reliable banking platform and efficient customer service, making it a popular choice among Payoneer users.
    Currently, I use my UBA domiciliary for Payoneer withdrawals and payments typically enter in two days, which is pretty cool.
  • Access Bank: Access Bank has gained popularity among Payoneer users due to its simple and efficient withdrawal process. With Access Bank, you can link your Payoneer account and easily transfer funds from your Payoneer account to your Access Bank account.
  • Zenith Bank: Zenith Bank is another reputable Nigerian bank that provides a seamless withdrawal experience for Payoneer users. Many Payoneer users have reported successful linking of their Payoneer accounts to Zenith Bank and smooth transfers of funds.

It’s important to note that while these banks have been mentioned as popular choices, individual experiences may vary. Factors such as location, specific banking needs, customer service, and personal preferences may influence your decision. It is advisable to conduct your own research, compare the features and services offered by different banks, and consider reading user reviews to determine which bank aligns best with your requirements.

Additionally, it’s recommended to contact the bank of your choice directly or visit their website to obtain up-to-date information on their specific requirements, fees, and withdrawal processes related to Payoneer funds.

How Long Does Payoneer Take To Withdraw To Nigerian Account?

The withdrawal time for Payoneer funds to a Nigerian bank account may vary depending on several factors, including the processing time of the banks involved. Generally, Payoneer states that it can take 2-5 business days for the funds to reflect in your Nigerian bank account after initiating the withdrawal.

If you encounter any significant delays or have concerns about the status of your withdrawal, it’s recommended to contact Payoneer’s customer support for assistance. They can provide further guidance and help resolve any potential issues.

Note: The processing time can be influenced by various factors, including weekends, public holidays, and any intermediary banks involved in the transaction.

Payoneer Minimum Withdrawal To Bank Account

The minimum withdrawal amount for Payoneer funds to a bank account varies depending on the specific regulations and policies set by Payoneer and the recipient’s country. Payoneer’s minimum withdrawal amount for bank transfers in most countries, including Nigeria, is $50 USD.

This means that you need to have at least $50 in your Payoneer account to initiate a withdrawal to your Nigerian bank account.

To withdraw smaller amounts of money, you can sell it to an exchanger or use the Payoneer Mastercard. If you want to fund your account also, an exchanger can come in handy.

How To Withdraw Your Payoneer Funds To Your Nigerian Bank Account

Here are steps on how you can withdraw the funds to your Nigerian account.

Step 1: Log in to Your Payoneer Account:

Visit the Payoneer website and log in to your account using your registered email address and password. Ensure that you have completed the necessary security checks, such as two-factor authentication, for added account protection.

Step 2: Navigate to the “Withdraw” Section:

Once you’re logged in, locate the “Withdraw” or “Withdraw to Bank” section within your Payoneer account. This section is where you can initiate the withdrawal process.

Step 3: Select Your Account:

Within the withdrawal section, you will have the option to select your bank account as the destination for your funds. If you haven’t already added your Nigerian bank account details to your Payoneer account, you will need to do so at this stage. Ensure that you enter accurate and up-to-date information, including your account number, bank name, and branch.

Step 4: Specify the Withdrawal Amount:

Enter the desired withdrawal amount. Payoneer may have minimum withdrawal requirements and may charge applicable fees for the transaction. Familiarize yourself with the terms and conditions related to withdrawals and fee structures to ensure a smooth and cost-effective transaction.

Step 5: Confirm the Withdrawal:

Carefully review the withdrawal details, including the amount and destination bank account. Once you have verified the information, click on the “Confirm” or “Withdraw” button to initiate the transaction.

Step 6: Monitor the Transaction:

After confirming the withdrawal, Payoneer will process your request. You can monitor the transaction status through your Payoneer account dashboard. It’s important to note that the processing time may vary, typically taking 2-5 business days for the funds to reflect in your Nigerian bank account. Factors such as weekends, public holidays, and bank-specific processing times may affect the overall duration.

Step 7: Wait for the Alert:

Once the withdrawal has been processed, check your account for the funds to arrive. The exact timeline may depend on your bank’s processing speed. If you encounter any issues or significant delays, reach out to Payoneer customer support for assistance.


Withdrawing your Payoneer funds to your Nigerian bank account is a straightforward process that allows you to access your earnings conveniently. By following these step-by-step instructions, you can initiate the withdrawal, specify the amount, and transfer your funds securely. Stay informed about any applicable fees, review the withdrawal terms and conditions, and monitor the transaction status to ensure a successful withdrawal experience.

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