In an effort to lower its dollar liabilities, commercial banks in Nigeria slashed the monthly International spending limitations on Naira cards at the beginning of this year. From $100, we’ve now cut it down to only $20.
Simply put, this implies that their clients may no longer use their naira debit cards for monthly purchases in excess of $20. That’s bad news for the numerous businesspeople who rely on debit cards to make frequent dollar-based purchases.
Customers of Access Bank and Guarantee Trust Bank are not being discriminated against because of the shortage of foreign currency in Nigeria.
Unfortunately, there is still a chance. It’s not all bad.
In light of this, I’ll explain today how to use Payoneer to create a foreign bank account from inside Nigeria.
It’s simple, but it requires undivided attention.
The first step is to go payoneer.com or to install the Payoneer app from the Google Play store. The app’s logo is a rainbow within a white circle.
In order to sign up, first you visit the website or download the app.
When you click the sign up button, you will be asked to choose the sort of account you want to create.
The next step is to let the program choose the most appropriate account.
If you’re a self-employed person, an internet entrepreneur, an affiliate marketer, a person who runs a vacation rental business, etc., you may decide whether or not to engage in this activity. That’s up to you, really.
Simply fill out the registration form after clicking the “Register” button.
A person’s first and last names, email address, birth date, country, physical address, and phone number. The phone number provided will get a verification code.
Know that if a verification is necessary, you will need to provide proof of your residence address, such as a utility bill, so be sure to include that information.
Your name should also match the one on your passport, national ID card, or driver’s license.
Enter your password and choose a security question that you can easily remember and answer.
Then, enter the information from your national identification card, driver’s license, or international passport.
Enter your passport number, the date your passport was issued, and the expiration date if you are using an international passport.
The last step of registration requires you to provide information about your personal bank account in Nigeria, including the account’s name and number.
You accept these terms and conditions as well as the prices and fees, and you submit.
Your application for a new account has been received and is now being reviewed.
Please check your inbox for the verification email and click the link inside while you wait for your account to be authorized.
Please be patient; the approval process often takes no more than 24 hours.
In order to re-log into your account once it has been approved, open the email with the approval and click the sign-in button. Before then your email would have been validated.
Therefore, you will need to modify your profile information the next time you log in. You will answer both Security Question 2 and Security Question 3 and then click Submit. Make sure the answers to your security questions are simple to recall.
PLEASE TAKE NOTE: Your security questions will most likely be required in the event that you lose your email password.
After you log in again, you’ll see that your profile is ready and waiting for you on the homepage. There are three tabs that open up when you click on it: British pounds (£), American dollars ($), and the euro (€).
To open an account in places like Australia, Canada, or Japan, you’ll need to submit an application. When you apply, it will be accepted relatively instantly.
You may be wondering, “How can I get the account information?”
If you want more information about any of the banks that appear beneath your homepage, just click the… button.
There is a link labeled “View Details” that will take you to a page that lists your bank, sort code, account number, and the name of the person who will be receiving funds from your account in the United Kingdom.
The Bank name, Bank address, Routing number, Account number, Account type, and Beneficiary name will be shown when you choose your US account.
If you return to your homepage now, you’ll notice the message “You have information to submit in the verification center.”
In order to submit your paperwork, please use the “SUBMIT NOW” option that appears next to it.
If you presented an international passport, you must submit a photo of it.
A questionnaire for the Global Payment Service could be of interest to you. This is irrelevant.
That being said, there it is.
You may use the account to buy things from Amazon and other retailers, as well as do business with those retailers.
A word of advice: keep safe all the data you entered when establishing your account, including your password, email address, security questions, and answers.
