How to Withdraw Payoneer Earnings into a Nigerian Bank Account (2026)

Introduction to Payoneer and Why Nigerians Use It

Payoneer is a global financial services company that helps people receive international payments. Many Nigerians use it to:

• Receive freelance payments

• Get affiliate income from companies abroad

• Get paid from marketplaces like Fiverr, Upwork, Amazon, ClickBank, etc.

• Send and receive money internationally

For Nigerians, Payoneer is a powerful tool because it offers:

• Local bank withdrawals

• USD, EUR, and GBP virtual accounts

• Low fees compared to traditional banks

• Accessibility even without a foreign bank account

In 2026, with the rise of online jobs and remote work, more Nigerians are using Payoneer than ever before.

Who Can Use Payoneer in Nigeria?

Anyone in Nigeria who needs to receive money from abroad can use Payoneer.

Common users include:

• Freelancers (Fiverr, Upwork, Toptal, etc.)

• Affiliate marketers (ClickBank, PartnerStack, etc.)

• Content creators (YouTubers, TikTokers, Bloggers)

• Amazon or eBay sellers

• Remote workers for foreign companies

• Students doing part-time remote jobs

• Agencies and small business owners with global clients

You must be at least 18 years old and have:

• A valid Nigerian bank account

• Government-issued ID

• Email address

• Phone number

How Payoneer Works in Nigeria

Step-by-Step Process of How It Works:

1. Create a Payoneer account

2. Receive funds from clients or platforms

3. Link your Nigerian bank account

4. Withdraw funds from Payoneer to your local bank

5. Receive Naira in your Nigerian bank account

Payoneer acts like a bridge between foreign payments and your Naira account. You don’t need a dollar account in Nigeria.

Setting Up a Payoneer Account from Nigeria

Steps to Register:

1. Go to www.payoneer.com

2. Click “Sign Up”

3. Choose your account type (individual or business)

4. Fill in personal info (name, date of birth, email)

5. Provide your Nigerian home address

6. Add your bank account details

7. Upload your ID (NIN, Voter’s Card, Driver’s License, Passport)

8. Wait for verification (can take a few hours to 3 days)

Once approved, you’ll get:

• Access to your Payoneer dashboard

• Virtual bank accounts (USD, EUR, GBP)

• A unique Global Payment Service account

Linking a Nigerian Bank Account to Payoneer

Why Link Your Bank Account?

You must link your bank to withdraw funds. Payoneer will deposit the converted Naira directly into this bank account.

How to Link:

1. Log in to your Payoneer account

2. Go to “Settings” > “Bank Accounts”

3. Click “Add Bank Account”

4. Select Personal or Business

5. Choose Nigeria as country

6. Enter your bank name, account number, and account type

7. Submit

Payoneer may request a bank statement or ID to verify ownership.

How to Withdraw Payoneer Funds to Your Bank

Once you’ve linked your bank account and received funds into Payoneer, you can withdraw your money.

Steps to Withdraw:

1. Log in to your Payoneer dashboard

2. Click on “Withdraw”

3. Choose “To Bank Account”

4. Select the currency (USD, EUR, etc.) you want to withdraw

5. Enter the amount

6. Choose your Nigerian bank account

7. Review exchange rate and fee

8. Click “Withdraw”

You’ll get a confirmation email, and your Naira will hit your bank account in 1–3 business days.

Detailed Walkthrough (With Screenshots)

(Screenshots cannot be displayed here, but you can follow this flow visually)

• Step 1: Go to Dashboard

• Step 2: Click “Withdraw” > “To Bank Account”

• Step 3: Choose the currency (e.g., USD)

• Step 4: Select your Nigerian bank

• Step 5: Enter the withdrawal amount

• Step 6: Review fees and Naira conversion

• Step 7: Confirm and submit

Once done, you’ll receive:

• An email: “Your Withdrawal is Being Processed”

• Another email when the funds are sent

• Final email when your bank confirms it

How Long Does It Take to Withdraw from Payoneer to Nigeria?

Normal time:

1 to 3 business days

Weekends/Public Holidays:

May delay withdrawal.

Factors Affecting Speed:

• Time of withdrawal (early in the day is faster)

• Bank processing time (some banks are faster than others)

• Public holidays (international or Nigerian)

• First-time withdrawals (might take longer for security checks)

Payoneer Fees in Nigeria – Full Breakdown

Payoneer is transparent with fees. Here’s what you might pay:

Always check the “Review” screen before confirming any withdrawal to see the current fee.

Naira Conversion: How Payoneer Calculates Rates

Payoneer converts your money using:

• Mid-market exchange rate

• Plus a 2% to 2.5% spread on top of that

Example:

• Payoneer receives: $500

• Mid-market USD/NGN = ₦1,400

• Actual rate given: ₦1,365

• You receive: 500 x 1,365 = ₦682,500

Check apps like XE.com or Google Currency Converter to compare real-time rates.

Benefits of Using Payoneer in Nigeria

Safe and trusted

Easy to withdraw to Naira

No need for a domiciliary account Free USD/EUR/GBP accounts

Low fees compared to PayPal

Available in 200+ countries

Accepted by many online platforms

For Nigerian students, freelancers, or remote workers, Payoneer is often the easiest way to receive foreign payments.

Challenges Nigerians Face with Payoneer

Exchange rate spread

First withdrawal may be delayed

Sometimes verification takes longer

Not as flexible as PayPal for shopping

Customer support is mostly via email/live chat

Not every global company supports Payoneer

Still, for most Nigerians, the pros outweigh the cons.

Comparison: Payoneer vs PayPal, Skrill & Others (Continued)

Verdict:

Payoneer is better for Nigerians when it comes to freelancing, affiliate marketing, and online jobs. PayPal is harder to use due to Nigeria’s restrictions. Skrill has niche use cases but fewer platform integrations.

Best Practices for Faster & Better Withdrawals

To make sure your Payoneer withdrawals into your Nigerian bank account are smooth, follow these best practices:

Use Verified Information

Make sure your:

• Name matches your bank account

• ID is clear and valid

• Phone number and email are working

• BVN (if asked) is correct

Withdraw Early in the Day

Withdraw in the morning (before 11 AM) Nigerian time. This gives banks time to process it within the same day.

Avoid Weekends & Holidays

Withdraw Monday to Thursday for best results. Public holidays (Nigeria/US/UK) can cause delays.

Use Trusted Banks

Some Nigerian banks process faster (GTB, Zenith, Access, UBA). Others may delay.

Double-check Account Details

A wrong account number = failed transaction = delay of up to 7 days.

Withdraw Reasonable Amounts

First withdrawal? Don’t start with a large sum. Try ₦50,000–₦100,000 equivalent first.

Enable Email & SMS Alerts

So you get instant updates when your payment is processed or sent.

Real-Life Examples and Testimonials

Here’s what Nigerians are saying in 2026:

Chinedu, Lagos (Upwork Freelancer): “I get paid every Friday. Payoneer lets me withdraw by Monday morning. I love that I don’t need a dollar account.”

Aisha, Abuja (Amazon Affiliate): “Before, PayPal stressed me. But Payoneer just works. I receive my affiliate commission monthly and withdraw straight to my Zenith Bank account.”

Bola, Ibadan (Student): “I do data entry for a US company part-time. They pay into my Payoneer, and I get it in my GTB account within 2 days. It’s so easy.”

Tunde, Port Harcourt (Fiverr Seller): “Fiverr links directly to Payoneer. No stress. I click withdraw, and the money hits my Naira account soon after.”

Summary Table of Key Details

Final Thoughts and Conclusion

With more Nigerians working online, freelancing, or earning in dollars, Payoneer has become a trusted bridge between international earnings and local bank accounts.

It’s:

• Easy to set up

• Safe for receiving money

• Flexible for withdrawals

• Faster than many alternatives

You don’t need a dollar account, PayPal workaround, or physical card. Just a verified Payoneer account and a Nigerian bank account, and you’re ready to go.

Whether you’re a student, side hustler, remote worker, or business owner, knowing how to withdraw Payoneer earnings into your Nigerian bank account in 2026 will save you time, money, and stress.