Are you a freelancer, content creator, or business owner who needs to collect international payments from clients abroad? I’m excited to share five websites that I’ve used to successfully receive payments from my international clients. These platforms are reliable, efficient, and cater to different types of transactions.
1. Payoneer
My top recommendation is Payoneer. It’s a convenient platform, especially if you’re working with popular marketplaces like Upwork, Fiverr, and Amazon KDP. While it’s not ideal for collecting money from independent individuals or companies, it’s a reliable choice for freelancers. I’ve used it to receive money on Fiverr and Upwork, and then converted my cash to Naira through a local exchanger in Nigeria. You can also withdraw the money directly to your Nigerian domiciliary account.
Pros:
- Easy integration with major freelance marketplaces.
- Option to withdraw directly to a domiciliary account.
Cons:
- Not optimized for receiving payments from independent clients or companies.
Also Read: Top 10 Banks in Nigeria
2. Wise
This is currently my favorite money-receiving application in Nigeria because I primarily work directly with independent individuals and companies. Wise allows you to easily collect money by providing your USD account details to clients. It also integrates well with other fintech applications like Revolut. Additionally, you can use your Wise account to buy cryptocurrency on platforms like Bybit. However, you can’t withdraw money directly to your bank account due to CBN policies, so you either trade with a third party or use it to buy crypto and then trade it.
Pros:
- Ideal for receiving payments from independent clients.
- Integration with other fintech and crypto platforms.
Cons:
- Direct withdrawal to Nigerian bank accounts is not possible due to CBN policies.
3. Grey
Grey is a legendary Nigerian fintech application that has saved millions of Nigerians. They help you create dollar, pound, and euro accounts with international banks, allowing you to easily collect money from clients. The last time I used Grey, it was primarily compatible with popular marketplaces like Fiverr, Upwork, and Amazon, but they now also allow money collection from third parties, although this feature may be restricted. What I love most about Grey is the easy conversion from dollars to Naira or other currencies. Payments from Upwork tend to be faster than with other payment applications I’ve used.
Pros:
- Easy creation of multiple currency accounts.
- Quick conversion and transfer of funds.
Cons:
- Some restrictions on receiving payments from third parties.
4. PayPal
I do not use PayPal as my primary means of collecting international payments for two reasons:
- Their exchange rate is low.
- Nigerian PayPal accounts cannot receive international payments.
However, I still use PayPal because many clients prefer it. To work around the limitations, I opened a Saudi Arabian PayPal account, and my friend uses a Lesotho account. I plan to create a video on how you can also create a PayPal account that sends and receives money in Nigeria.
Pros:
- Widely accepted and trusted by clients.
- Easy to set up and use.
Cons:
- Low exchange rates.
- Nigerian accounts cannot receive international payments.
Watch this video on how to successfully create a PayPal account in Nigeria
5. Cryptocurrency
We’re in the era of cryptocurrency, and it’s often said that cryptocurrency is the future. I’ve used platforms like Binance, Bybit, and Paxful to collect money from my clients. The process is simple: create an account on any of these platforms, generate a wallet address (preferably USDT), and receive your money. Despite the Nigerian government’s ban on some crypto exchange platforms, Bybit is still functioning well, making it a viable option for collecting international payments.
Pros:
- Fast and borderless transactions.
- Increasingly popular and accepted worldwide.
Cons:
- Regulatory uncertainties and potential risks.
If you know of any other applications people can use to collect international payments, please drop them in the comment section.
Also read: Top 5 Freelancing websites in 2024
Conclusion
Navigating the complexities of international payments can be challenging, but with the right tools, it becomes much simpler. The five applications I’ve highlighted—Payoneer, Wise, Grey, PayPal, and various cryptocurrency platforms—each offer unique advantages tailored to different needs. Whether you’re a freelancer working through marketplaces, dealing directly with independent clients, or exploring the world of cryptocurrency, there’s an option that will suit your requirements.
