PayPal is
unarguably the most widely used payment method service for online transactions
worldwide. It is generally easy to use and a relatively secure way to receive
funds and also send money while buying products and services online. But sadly,
Nigerians are no longer allowed to use the service. Do not listen to those “Gurus” I see on the internet claiming
they can open a PayPal account right here in Nigeria. It’s all lies and scam. I
have seen so many folks who have had their PayPal account frozen and their
funds inaccessible with no explanation and this can really affect a business or
person for a length of time. This restriction is one of the major worries of
Nigerian webmasters and online entrepreneurs. In fact, it is the reason why
some Nigerians are yet to start their online businesses. If you’re finding it
hard to receive payment online because PayPal is a no-no for we Nigerians, this
post is for you. Here, I will be discussing four alternatives which Nigerians
can receive money from foreigners with ease. Please note these alternatives may
not be perfect replacements for PayPal, but they will provide an avenue for you
to receive payment from abroad. As the saying goes when the desirable is not
available, the available become desirable. Now let’s look at the alternatives
you’ve got:
·
Bank Wire Transfer
This method of payment is generally
very simple: Your funds are transferred from the sender’s bank account to your
own bank account here in Nigeria. You must have a domiciliary account. A domiciliary account is an International
banking account in foreign currency such as US Dollars or UK Pounds opened in a
home bank that can be used for sending and receiving payments online. A
domiciliary account allows you to be paid in any foreign currency of your
choice. You can easily open a domiciliary account with any Nigerian bank, but
you must have a Valid Form Of identification (International passport, Driver’s
License, National identity Card or even Voter’s Card), two referees and some
other requirements depending on the bank. You can visit any bank to make
inquires on opening a domiciliary account.
Though speedy as it seems, this
payment method is not instant. You may have to wait for days to few weeks
before receiving your funds. But the option is suitable for almost everyone in
online business.
·
Cheque
If you are planning to go into
Affiliate Marketing, Google Adsense, Online paid surveys or online writing jobs,
receiving a check may be the best or more like the only option for you. Once
you request your payment from the company or individual you are dealing with, a
US cheque would be sent to your mailing address which is payable into a
domiciliary account and you can get your cash at any Nigeria bank. Receiving
funds through cheque may take weeks, depending on the bank you use as well as
the issuing bank. So, this payment method may not be suitable if you need the
funds urgently because most commercial banks in Nigeria usually use 15 working
days to clear your cheque and credit your account with your money but in some
cases it may take up to 21 working days. Once again, you will need a domiciliary
account for you to receive payment through this method. Please note that
transaction charges apply to cheques, and these may vary from bank to bank.
WARNING: Make sure you provide a valid
mailing address because omitting any information could delay your cheque. If
your address cannot be traced easily, you may lose your cheque.
·
Western Union Money Transfer
Western union is a well known and unarguably a respected organization used by Nigerians to send money home. Unfortunately, it is very difficult to trace the person who collects the money. Most of these criminals especially “yahoo yahoo ” guys use this service so as to evade detection. Most foreigners detest from sending money to people in Nigeria whom they met or know only through the internet but if you have clients that are understanding, then this method may be a good option for you especially if you are a freelancer because you can receive payment from anywhere in the world. You need a valid Government-issued Identity Card such as International passport, National Identity Card or Driver’s License before you can receive payments. Although this payment method is very speedy, it may not be suitable for very small payments due to the transfer and transaction charges.
Western union is a well known and unarguably a respected organization used by Nigerians to send money home. Unfortunately, it is very difficult to trace the person who collects the money. Most of these criminals especially “yahoo yahoo ” guys use this service so as to evade detection. Most foreigners detest from sending money to people in Nigeria whom they met or know only through the internet but if you have clients that are understanding, then this method may be a good option for you especially if you are a freelancer because you can receive payment from anywhere in the world. You need a valid Government-issued Identity Card such as International passport, National Identity Card or Driver’s License before you can receive payments. Although this payment method is very speedy, it may not be suitable for very small payments due to the transfer and transaction charges.
·
2CheckOut
It is also known as 2CO, this
service allows you to integrate a payment system on your website or blog. So,
If you sell products or render services online, this option is for you. Just
visit 2checkout.com
and register.
Note: You’ll be charged an application fee of
$10. So this is mainly meant for those with some higher volume sales and not
casual transactions. It takes a few days to get your account approved (they
need to confirm that your business is credible). Once your account is approved,
you can set up the payment button on your page.
With 2checkout, you can receive
payment from anyone, regardless of the payment method that person chooses.
(Whether it is PayPal, Credit or Debit Card etc). Subsequently, you can withdraw
your funds from your 2checkout account to your domiciliary account or Payoneer
MasterCard. Payment is made every Thursday, provided you have up to the minimum
release balance.
You can go to the FAQ (Frequently
Asked Question) page of 2checkout
to find out more information on how to use their service.
·
Payoneer
MasterCard
In my own opinion, this is the
coolest option for Nigerians. With the Payoneer debit MasterCard, you can
receive payment from freelance job sites, affiliate networks, individuals and
companies. To get your Payoneer debit card, you have two options:
1. If
you are going into affiliate marketing or online freelance business like article
writing, web design, programming, SEO (search Engine Optimization), graphics
design, virtual assistance, translation etc. You can request the card through
the freelance outsourcing sites or affiliate network you want to work with.
Examples of payoneer patners through which you can request your own card are Elance,
Odesk, Freelancer, Markethealth, Fiverr etc.
2. Visit
payoneer's website to request the card
directly. After your request has been confirmed by the payoneer support, you
will be sent an email informing you of the shipment as
well as the expected delivery date. (You will be told to wait for 28 days, but
I receive my own cards in less than 20 days. So it depends on your location in
Nigeria.
WARNING:
Payoneer does not deliver to mailboxes. Only residential addresses are allowed.
So use a valid residential address that can be traced easily. If your card gets
lost in transit, I am afraid you may have to pay $50 (that is about ₦7,500)
before another card is sent to you.
The
payoneer card allows you to receive payments from freelance sites and affiliate
networks. Also, individuals can load funds directly to their card and from
another credit or debit card. Once you have the funds on your card, you will
get an email notification from Payoneer and you can withdraw your funds instantly
from any ATM that processes Mastercard – issued cards. The last time I checked,
GTBank and Zenith Bank offer these ATM cards.
Other Methods Includes:
Venmo
Amazon
Webpay
Google
Checkout
Moneybookers
So, if you’ve always thought that
online business is impossible without PayPal, I’m sure you now know that there
are other options for you. Choose your preferred option and start making cool
cash from your Online Business. Yes, I’m sure you love what you just read. In
case you didn’t know, this is a new blog with the aim of enlightening Nigerians
who want to start online business but don’t know how.
It gives me much pain when I see
Nigerian “Webmasters” requesting for
money before they can disclose details about online business. So, I decided to
offer helpful information on this blog for free. So, if you want high quality
information about various Online Business option and everything related to
making money Online, like the facebook Page for this Blog Http://facebook.com/internetsuccesslimited . Don’t be
selfish, share this post and other posts on this blog with your friends on
Facebook, Twitter and Google+. Remember, everyone wants to make money. So as
you try to achieve this dream, bring others along.
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