Are you thinking of best PayPal alternative to send and receive money with ease? Then, let talk about how you can open a Payoneer Account in Nigeria for free and even get the Payoneer MasterCard (ATM) delivered to your house within 2 weeks!
If you’re a freelancer or internet marketer, you will need a reliable medium to send and receive money in Nigeria without actually disturbing your local bank account. Three years ago when I knew nothing about Payoneer account in Nigeria, I have lost most foreign clients because there is no medium of payment.
PayPal has been frustrating us from start till date and I can’t risk using it. Meanwhile, you can read this guide on how to create a PayPal account in Nigeria, if you really think it’s the best option for you.
Using Western Union in Nigeria might be of headache because of MTCN tracking and even, police officers’ troubles, thinking you’re a fraudster or a “Yahoo Yahoo” Boy.
I don’t know the source of your business but I’m sure most Nigerian entrepreneurs need a good payment option that’s far better and reliable than PayPal, that’s why you need to get your Payoneer account today.
If this is your first time reading this, you may be asking that…..
Does Payoneer Really Work in Nigeria?
Yes! Payoneer perfectly work in Nigeria unlike PayPal that allows us to send money but refuse to enable receiving money from foreign clients to Nigeria.
It work without any limitation.
To open a payoneer account in Nigeria automatically means you are opening real foreign bank accounts. Meaning, that you can give the details of your foreign bank account to any foreign clients and that person will pay you using Bank or Wire Transfer, even if that person didn’t have a Payoneer account.
For instance, I live in Nigeria and have never traveled out of the till the moment I’m writing this blog post but I have a personal bank account in USA and other European countries.
Now, I know you’re eager to get your own foreign accounts and especially, this Payoneer account in Nigeria. But before then, let me quickly tell you why Payoneer is the best alternative to PayPal in Nigeria;
Which One Should I Choose Between Payoneer and PayPal in Nigeria?
If you’re asking the best medium to receive or send online payment in Nigeria, then I will advise you to stick to Payoneer. I’m not just choosing Payoneer but here are my reasons:
- You can use Payoneer to send and receive money in Nigeria while normal PayPal account in Nigeria can only send but can’t receive.
- Paypal can hold your money unnecessarily for months but Payoneer don’t do such except your funding source is not plain.
- You can get Payoneer Mastercard in Nigeria but you can’t get PayPal card in Nigeria except for Virtual Credit Card (VCC) which can land you in trouble any time.
- You automatically get foreign account numbers with Payoneer in Nigeria but PayPal doesn’t offer that
- You can easily withdraw your funds in Payoneer to your Nigeria bank account but withdrawing from PayPal to local bank account in Nigeria is very lean
- If you have a Payoneer account in Nigeria, you have no fear for any arrant chargebacks but on PayPal, clients who are scammers can pay you and even take the money again from you
- Payoneer will pay about $150 (about N54,000) for using their service to receive payment online when you reached a certain milestone while PayPal doesn’t care.
- And you can…..
Make Money with Payoneer Referral Program in Nigeria!
This is stunning and getting crazier! Yes, you can earn money on Payoneer if you know how to promote your referral link to people who send and receive money online in Nigeria
- You can Earn Money on Payoneer in Nigeria without working but just by referring people and you’ll be paid $25 (approximately N9,000) for each person you referred but not possible on PayPal.
Let assume that you promote your referral link to 100 people on social media or anywhere, if 10 sign up and use the service to receive at least $1000, you’ve earned $25 each on those 10 people making $250 and that’s whooping N90,000 without leaving your house!
How to Sign up for Payoneer Referral program in Nigeria and Make Money
- Login to your dashboard. If you have not open an account, click here now to sign up for free
- At the right side of your screen (the sidebar), click on the banner that says “Refer and Earn $25”
- Copy that long link
- Go to Https://bit.ly and shorten the long referral link given to you by Payoneer
- Start promoting the shorten link to your friends on Facebook and anywhere you can!
With the 8 reasons above, you can now come to a conclusion yourself if PayPal account is good for you in Nigeria or a Payoneer account.
Let talk about getting your account started. But we need to start with tools;
Requirements for Creating a Payoneer Account in Nigeria
- An Email address
- A government issued card – Such as National ID Card, Voters Card, Drivers’ licence, International Passport etc.
- Your Phone or PC and Data Connection
How to Open a Payoneer Account in Nigeria and Get Approved Easily
- Click here to get started or go to payoneer.com
- In the homepage, click on “Sign Up”
- You’ll be taken to a registration page, fill in the data honestly as it appears on the government issued I.D card you want to use.
- You’ll be asked to input your Identification Number, ENTER your NIN to fill the place (The Government Issued Card or National ID card you want to use must be correct and match with the name and addresses you’ll be providing to Payoneer.
- Enter your correct date of birth as it appears on the government document
- If you’re asked about the ZIP CODE or POSTAL CODE, kindly do this little work: Go to google.com and search for this ‘Your Town Zip Code’ I mean something like “Osogbo Nigeria Zip Code”, you’ll see your zip code among the results provided. Note that Zip Code is a 6-digits number that shows where your town is located in the world. For instance, the nearby street I’m living has a zip code of 23**14
- After filling in correct and honest data in the registration page, click on “SUBMIT” and you’ll be taking to a new page telling you that your account is under review.
- This means they’re reviewing your account if the data you input is correct or not. Finally you’ll receive a response if your account is Approved or Not.
- If you signed up with the correct information on your National ID card or any government issued card, you’ll be approved but if you’re not, then you did something wrong. Contact me here for assistance!
After approved, what next? You need to link your bank account!
How to Link Your Local Bank to Payoneer Account in Nigeria
- Go to https://myaccount.payoneer.com and login with the email and password you’ve used to create your verified Payoneer account
- In your dashboard, click on “SETTINGS” located at the header. A menu will drop down but click on “BANK ACCOUNTS”.
- (make sure you’re either using a PC or use “desktop view” on phones)
- You’ll see “Add Bank Account” and icon like a small house, click on it and you’ll be asked to enter your details
Now, we’re going to talk about how you can add your bank account details to Payoneer account in Nigeria in 3 simple steps as follows:
Part A – Add Bank Details
- Select either ‘Personal’ or ‘Business’ type of account. Personally, I’m using ‘Personal’ account type and it has been so good for me
- Choose your country – Payoneer will automatically chose Nigeria for you though
- The default bank account currency for Nigeria on Payoneer is currently “USD”
- Click “Next”
PART B – Enter Account Details
- Enter your bank name first… such as ‘First Bank of Nigeria’ etc
- Enter the (your) real name as used in the bank
- Your account number will follows
- Enter your bank SWIFT CODE or BIC – You can search online to know your Bank Swift code in Nigeria
- Comment below to request for your bank SWIFT CODE and I will reply ASAP. But ensure you write your bank location and name to get it easily
- Click on “I confirm the bank account details above”
PART C – Confirm Payoneer Account Details
- Review and ensure all information is correct
- If it’s correct, finally click on “SUBMIT”
Congrats, you’ve successfully add your Nigeria’s bank details to your Payoneer account. Now, you can withdraw your earnings from Payoneer to your Bank account in Nigeria without any issue.
But how can I do this? I’ll tell you
PSS: I buy Payoneer funds of any amount and I will send your money to your Nigeria bank account as soon as the payment from you is confirmed and approved. My rate is okay than loosing your funds to scammers. Kindly contact me on WhatsApp: 080 6886 6068 or CONTACT ME HERE!
How to Withdraw From Payoneer to Bank Account in Nigeria?
Once you’ve successfully add your bank details and you’ve receive an approval email, let talk about withdrawing your funds from Payoneer to the local bank account in Nigeria. Follow the steps below:
- Login to your Payoneer Dashboard or go to https://myaccount.payoneer.com
- If you’re on desktop view, simply hover on “Withdraw” and finally click on “To Bank Account”. But if you’re on mobile view, click on MENU (the three aligned lines at the left hand-side), hover on “withdrawn” and click on “To Bank Account”
- You’ll be taken to the WITHDRAW page, click on the currency you want to withdraw from (Either USD, EUR, GBP)
- After clicking on the Currency unit, it’s time to enter withdrawal details.
- Select the bank account you’ve already added
- Write amount you wish to withdraw from your payoneer account to your Naija bank
- Write the reason you want to withdraw
- And finally click on REVIEW
- Check if the details you’ve entered are correct
- If they are correct, click on SUBMIT
Bravo! Your money is on the way from Payoneer account to your bank in Nigeria.
Remember I said one of the reason I will always choose Payoneer account in Nigeria over PayPal is that you can get Mastercard from Payoneer, which you can use to withdraw your money on any ATM locations in Nigeria.
So let talk about how you can actually do that;
How to Request for Payoneer Mastercard in Nigeria
- Login to your dashboard and click on ORDER CARD
- Now, fill in the form that appears correctly as you can be reached in Nigeria
- Choose the type of payoneer mastercard you need from USD, EUR, GBP
- Fill in your address correctly
- Agree to all terms, policies
- And finally click on ORDER CARD
Your Payoneer card is on the way to Nigeria……..
Frequently Asked Questions about Payoneer Account in Nigeria
But below are the few questions you may need to know now;
1. Is Ordering of Payoneer Mastercard in Nigeria Free of Charge?
Yes, it’s absolute free as long as you’ve earned at least, $50 – $200 to the payoneer card before. It’s not free for Expedite shipping.
2. How Many Days will the Payoneer Mastercard Arrives in Nigeria?
It will take 14 days or two weeks before the Payoneer mastercard get to you here in Nigeria. But if you’re in hurry to get the card quickly, you can order the card using expedite shipping which costs $50 and you’ll get the card within 3 days!
3. How Many Days Will The Money I Withdraw From Payoneer to Be In My Bank Account in Nigeria?
It will take 3 days or less, depending on the day you withdraw the funds.
That’s why Payoneer will tell you 3 – 5 business days for your money to reach your local bank in Nigeria.
If you withdraw on Tuesday, you will get your money latest by Friday. If you withdraw on Saturday, you will get your money by Wednesday.
But as times goes on, you will see your money within 24 hours. Like these days, I receive my money withdrew from Payoneer to my bank account here in Nigeria within 24 hours.
The more you use the service to receive or send money, the more you’re going to be given some level.. lol
4. How Can I Activate my Payoneer Mastercard in Nigeria?
This is important though, because the card is useless without activating it.
To activate it, simply follow the instruction written in a sheet in the white envelop given to you – I mean, the enclosed enveloped that’s used to ship your payoneer card to you.
5. What is Payoneer Fee for Withdrawing Money to Nigeria Bank?
Payoneer withdrawal fee in Nigeria and other countries is approximately $3 ($2.99 to be certain) for a local bank transfer and $15 for a USD SWIFT transfer
6. What is Payoneer Minimum and Maximum Withdrawal to Nigeria Banks?
Currently, the minimum you can withdraw from your payoneer account in Nigeria is $50 and the maximum start from $5,000.
My own account can withdraw up to $20,000 because I’ve been using it for a while.
7. Is Payoneer a Payment Gateway?
No! Payoneer is not a payment gateway like PayPal, Stripe and others. But rather, Payoneer is a Payment processor for freelancers and business owners to pay and receive money.
You can also pay for services or products purchased from online shopping stores.
As I freelancer, I withdraw my fiverr earnings to Payoneer directly without any issue.
8. What is the Payoneer Mastercard Withdrawal fee?
As said earlier, $3 will be deducted at every card slot into the ATM machine and $29.95 charges as annual fee.
CONCLUSION – How to Open a Payoneer Account in Nigeria & Get MasterCard Card Easily
So far, you have learn how to get your own payoneer account in Nigeria and easily get your payoneer prepaid mastercard. I don’t know if you will have any other questions to ask about this, but you can comment down below and I’ll attend to your questions as soon as possible.
Don’t forget to SIGN UP here in order to earn $25 and invite your friend to earn more!
Kindly share this article with your friends and don’t forget to visit again
PayPal to Allow Buying, Holding and Selling of Cryptos By 2021
This is nothing but good news as the digital payment giant, PayPal set to allow the buying, holding, and selling of cryptocurrencies by early 2021. Although Skrill and CashApp have this feature in their product it’s not as popular enough as PayPal.
PayPal boasts of 26 million customers across the world, where most of these customers are cryptocurrency enthusiasts but they had no choice but to stick to their cryptocurrency wallet apps.
PayPal Holdings, Inc. gladden the hearts of its users when they announced on the 20th of October, 2020 that we can be able to buy, sell, or HODL cryptocurrencies on our PayPal accounts without connecting or linking to an external crypto exchange service.
Just in case you don’t know;
PayPal is an American company offering online payment systems for its users since 1998. The company allows its users to send, receive money, and also buy or pay for something online.
Since the company has been actively operating, they deal with currencies like USD, EUR, GBP, and other popular currencies spend in different countries of the world, but since cryptos are not used popularly as means of exchange of goods and services, PayPal hasn’t added cryptos to its platform.
You might be thinking…
Will this Cryptos Features Be Available on Nigeria PayPal Accounts?
Well, I’m not sure until when PayPal finally offers the Cryptos services by early 2021 as they’ve announced. But the chance that we will have this Cryptos feature in our Nigeria PayPal accounts is very lean.
Recall that PayPal itself is not 100% available in countries like Nigeria, Pakistan, etc… Nigeria’s PayPal can only be used to purchase something online, it cannot send out funds not to talk of withdrawing money to your local bank account.
But if this PayPal cryptos service really works in our PayPal, then, that will be the best thing that has ever happened in Nigeria’s global payment sector after the acquisition of Nigeria’s fintech startup, Paystack by Stripe.
But let’s just hope for the best, as PayPal said they plan to make sure its crypto service is available as a source of funds to its 26 million users across the world (They haven’t made any exemption yet).
But why is PayPal venturing into Cryptos all of sudden?
That’s one of the questions people may need to find answers to.
Of course, PayPal has been existing since two decades ago, and Crypto is neither a new thing as well. But according to a press statement quoted by Nairametrics, the president and CEO of PayPal, Dan Schulman said the reason why Paypal is going into cryptocurrency is that:
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of speed, the ability for governments to disburse funds quickly, resilience, efficiency, financial inclusion, and access.”
The PayPal CEO further said they’re working with central banks and financial regulators around the world to offer their support in shaping the impact of digital currencies globally.
The digital payment company has been granted conditional Bitlicense by the NYPDFS, the New York State Department of Financial Services in other to encourage or support New York consumers through a partnership with the city authorized virtual currency companies.
How PayPal is going to achieve this Cryptos’ Feast?
A licensed and regulated crypto services provider company known as PAXOS Trust Company made it possible for PayPal to achieve their dream of offering crypto services to its 26 million (and new users) across the world.
This is a great development and we are expecting to see this amazing feature soon! Even if PayPal will not allow Nigeria’s PayPal accounts to enjoy this crypto service, I believe it will still be of benefit to those currency exchangers in Nigeria – provided they play along smartly.
Since you’re here;
#EndSARS #PoliceBrutalityinNigeria #BadGovernance
I feel so disturbed seeing unarmed protesters being killed by Nigerian security agencies just for protesting peacefully against the bad omens in the country.
Everywhere is risky and in chaos, war is subtly escalating!
I really wish I can call every and each reader of my blog, pertaining to this our dear country – Nigeria.
A lot has been happening in the country which has negatively affected us democratically. Nigeria is the world poverty capital of the world but yet, we have the richest politicians in the world. Our reputation is not good globally and the whole Nigeria system (Education, infrastructure, employment, government, and everything) is a SCAM.
….and, it’s time things change for the better.
For example, we need a country where foreign investors and company will be glad to work with. That’s why thousands of patriot Nigerian youths are protesting against Bad governance, Police brutality, and other bad things happening in the country.
But right now, as your brother, friend or son, kindly stay INDOOR for now. This is not the right time to REVENGE, let’s stay SAFE and come back stronger.
World powerful organizations such as the UK parliament etc., are interfering. And hopefully, the ICC and the United Nations won’t ignore us.
Please stay INDOOR, that’s the best precaution to stay SAFE, this is not Corona Virus, this is more brutal than COVID-19.
Stay at HOME, Stay SAFE!!!
VBank in Nigeria: Save Money, Get Loan, Invest & Earn on Referral
Hello guys, have you heard about VFD Microfinance Bank or simply VBank in Nigeria? Not really? Well, I’m about to tell you what’s up about this bank; how you can save money, apply and get a loan, invest your savings wisely and get financial tips that will spark your financial curiosities.
NOTE: This is not a sponsored post (i.e., I’m not paid to write about VBank or promote any of their services). This is just like other posts I write from my personal experience and what’s working for people.
But I’m going to give you honest reviews about their products (or services), their mobile apps and their website. I will start the basics;
What to Know about VFD Microfinance Bank
According to the company’s overview, VFD Microfinance Bank is a financial services institution based in Lagos State, Nigeria. They operate fully in the ‘Microfinance Banking Sector’ and have different finance experts who come together to help transform their customers’ goals to reality.
According to the company;
We’re in the business of helping all our customers achieve their desires, solve intermittent problems and create wealth, through high yield savings accounts and low interest rates on loans.
Although Vbank has its head office in Lagos, you can bank with them anywhere you are in Nigeria. You know this is made possible by virtue of advancement in financial technology – thanks to that.
In fact, I’m living in Osun State and I have an account with them which I hope to grow my savings with them.
But you may be thinking that you’ve heard about different digital banks and some seemed to be a fraud. And that may bring a particular question to your mind that;
Is VFD Microfinance Bank or VBank Scam or Legit?
Without much ado, VFD Microfinance Bank is Legit!
Why do I say that?
In the title of the post, you read that it’s Don Jazzy Endorsed, right?
I believe Don Jazzy won’t put his global reputation on risk in order to vouch for a scam or fraudulent banking company.
Well, I didn’t register an account with VFD immediately I learned about them from Don Baba, but had to check on their website and reputable to see if they will woo my darling self. And you know what? They seduced me with their services and had to register for an account immediately.
I also learned (through research on Google) that VFD Microfinance bank is featured in Guardian Online Magazine, Techpoint Africa, Business Day, Nairametrics, and they’re in UNILAG – a reputable university in Lagos State.
Now, let talk about what you can do with VFD Microfinance Bank.
Why Using VBank in Nigeria?
You know that temptation is a real bastard when it comes to money.
Sometimes, you may find it difficult:
- To save money in your piggy bank at home (because you might find yourself spending it easily)
- Save with a bank (because the money will be deducted for some charges like SMS alert and other arrant charges)
- Apply and get a loan easily in Nigeria
But what If I tell you that with VBank in Nigeria, these challenges are eliminated because they created the platform for you in mind.
Overview of VFD Microfinance Bank’s 5 Top Products and How They Help
- Employee Loan
This is one of the loan packages for employees by VFD Microfinance bank and if you’re working with any company, you might be eligible.
Note that your company must be able to sign a MoU with VFD and agree to pay back the loan from the salaries.
How this helps
If you are a staff of a company and you’ve been looking for a way to get loan, this package is for you and you’ll enjoy good interest rate, get the money within 6 hours after applying and you can back from the company salaries for 12 months (that’s a year)
APPLY HERE: https://vfdbank.com/employee
- Travel Loan
You’ve been trying to enjoy yourself somewhere outside the country and you don’t have enough money for the vacation, right? Don’t feel sad, VBank is now in Nigeria to help you with their travel loan package.
VFD Microfinance Bank partnered with WONTRA, a company where you can book your flight, accommodation, rental cars and help you with amazing attractions and holidays.
With this partnership, VFD Microfinance Bank will help you fulfill your dream to travel and enjoy yourself outside the country.
Before you can be eligible, you will have to meet their requirements and accepts their terms and conditions. For more, read and apply here: https://vfdbank.com/travel-loan
- Secured Loan
You may need an urgent loan to take care of something like medical bills or anything, VFD Microfinance Bank understands that at this junction, you are seriously in need of cash and some people or bank might turn down your request for loan…
That’s why they offer this package for anyone who can provide a collateral for the quick loan.
Such collateral (or assets) must be proved by you by providing the necessary documents and other requirements.
The good news is that you can get a loan up to N2millon as long as you secured it with an original asset.
To learn more and Appy, check here: https://vfdbank.com/secured-loan
- Unsecured Loan
Unlike Secured loan package where you’ll have to provide a collateral, VBank offers loan to professionals informal employment of blue chip/multinational organization.
In simple words, people who can apply for this loan are however banking professionals or regular customers and the maximum you can be given is N250k within 6 months.
You will be given the fund within 24 hours of providing necessary documents.
To learn more and to apply, check here: https://vfdbank.com/unsecured-loan
Your case may be different, you may not need a loan but would like to save some money. IF that’s the case, VFD Microfinance Bank offers a hybrid savings package.
You’re not just keeping your money here but you’re making your money to work for you while you save.
With the VFD_MFB hybrid or Vbank saving package, you’ll earn a compounded monthly interest of 14% per annum on whatever you save.
Note, this campaign is designed to help people who’re ready starting investing for as low as N50k.
For more details about this and getting started, check here; https://vfdbank.com/startnow
Let talk about registering;
How to Register an Account on VFD Microfinance Bank
I will not go deep into this, because the registration steps are easy and I trust that it’ll be easy for you. To register with VBank, you’ll need:
- Download the app – Click here to download for Android | iOS
- A working email address
- A passport photograph on your phone (to upload a profile pic)
- Your BVN and/or Bank Account Details (Name of Bank and Account Number)
- Use this code 👉 N8AXD – as your referral code or ID.
If you have these ready, go to their website to register and follow the prompt steps.
I personally use their android mobile app (which is free), you can get it on Google PlayStore (as shared above)
Before registering, make sure that the phone number linked with your BVN is active because you’ll be sent a 4-digits PIN to validate your registration on VFD Microfinance Bank.
After you’ve either registered with BVN or Bank details and might have done the validation successfully, the next thing is to navigate through your account!
How to Send Transfer Money from Your Bank to VBank or VFD
This is one of the problem people seems to be facing when using Vbank mobile app, but I’m going to show you how you can transfer or send money from your regular bank account to your new-found love, Vbank.
Just let do this in 4 easy steps;
- In your Vbank mobile app (after sign-in) at the homepage, long press on your account number to copy it, or simply write it down somewhere.
- Go to your other bank app (either GTbank, Zenith or any bank), start sending normally like you usually do put your copied Vbank account number where it is necessary (where it suppose to be na – Beneficiary account number)
- Now, you need to choose the Beneficiary Bank by searching for “VFD” and you’ll see the logo
- Then complete the transaction as usual!
This is very easy if you do send money through mobile apps, you can as well use USSD, but make sure you choose VFD Microfinance bank as the Beneficiary or receiving bank.
Now, let’s talk about the;
Added Benefit of VFD Microfinance Bank
- You can become one of their sales agents and make money while helping to know about this helpful company, and follow-up until they start maintaining a certain balance on their account
- You Can pay for bills such as Cable, Data, etc.
- You can set and monitor a budget for each month
- You are shown the analysis of your account (both inflow and outflow)
- And you can rest assured of high security from their end.
So, that’s what I can write about VBank in Nigeria
Let me tell you that you need to be patient when registering because of internet service and you might encounter delay or validation errors (token). But if you notice this, wait for a while and try again. I faced this difficult, I entered requested and entered my token more than 8 times but finally, I register successfully.
Also note that the 3 key agendas of VFD Microfinance Bank are Nigeria are to help you SAVE, INVEST, and gives LOAN if you meet their requirements.
I will be updating you in case anything changes or added about VBank, till then, don’t forget to subscribe to my mailing list in other to receive free banking tips, how to make money online, business ideas that work in Nigeria, and a lot of useful info.
Also, kindly share this post with your friend if this helps.
List of BIC or SWIFT Codes of Nigerian Banks – for International Money Transfer
Have you ever been asked to input your Nigerian Banks’ Swift Code when you’re trying to make a payment with your card or want to receive some funds through wire or international money transfer? If yes, and that’s why you’re here, I will show you all the SWIFT codes of Nigerian Banks as it is in 2020.
If you’ve been trying to receive some money through “international transfer” to your local bank in Nigeria from oversea countries like USA, Holland etc., you’ll be required to enter IBAN, Name, Name of your Bank, Address, Swift code and other personal data before the transaction can be successfully processed.
Unlike inter-bank transactions in Nigeria where you only need to give your Name, Bank Name and account Number to the person hoping to send you money and you’re good to go. Without this swift code, you won’t be able to receive your money to your local bank in Nigeria.
But you may be asking that…
What is Swift Code
First, SWIFT is an abbreviation for ‘Society for Worldwide Interbank Financial Telecommunication’.
From the acronym, a SWIFT code is a worldwide accepted unique form of identification to identify and locate a bank or a financial institution. This enables all banks in the world to exchange transactions without any problem.
No wonder, SWIFT code is also referred to as BIC
BIC is also an abbreviation which stands for ‘Business Identifier Code’
In my own experience, it’s either you’re asked of SWIFT code or BIC. So, always remember that SWIFT CODE and BIC are the same code which I will be showing you (Nigerian Banks’ Swift Codes or BIC).
Also note that SWIFT code or BIC is used to identify headquarter of your bank. If they need to identify your bank’s branch (that you’re using exactly), they’ll ask for your bank sorting code instead which is just 6 characters which are figures.
SWIFT Code or BIC is usually 8 or 11 characters. And if it’s 8, it identifies the headquarters but if it’s 11 characters, it identifies the branch. But all Swift codes of Nigerian Banks are just 8 characters, meaning that it will identifies the headquarter of your bank.
You may also want to know how they get these SWIFT codes for Nigerian Banks right? Okay, I’ll tell you.
BIC or Swift codes of Nigerian Banks are gotten just like other banks or financial institution in the world. Here is how they’re gotten;
How SWIFT Codes or BIC Are Gotten in Nigeria (all over the world)
Note the first 8 characters long and then the next 3 characters. And I will be using GT bank swift code (GTBINGLA) as specimen for you to understand better;
- 4 characters that comes FIRST stands for BANK Code which are letters (e.g GTBI)
- 2 characters that comes NEXT stands for country code (for Nigeria, it is NG)
- The NEXT 2 characters stands for Location code of headquarter Bank (for GT, it Lagos, so Location code is LA)
That’s how Guaranty Trust Bank got their own Swift code, which is GTBI + NG + LA which is equal to GTBINLA.
Can you see how they form the swift code for Nigerian banks? If I don’t tell you, you won’t know right? Now clap for me, lol.
But what if you see 11 characters long swift code, what does the last 3 characters stands for?
- The LAST 3 characters stands for Branch code.
But in most cases, only the 8 character will be good especially if you’re using your Nigerian Bank Swift Code.
And Note that ‘NGLA’ comes last in all swift codes of Nigerian Banks because all head offices of banks in Nigeria are located in LAGOS, Nigeria except Stanbic IBTC.
Now, let talk about what you’re here to check – all BIC or Swift codes of Nigerian Banks;
All SWIFT Codes of Nigerian Banks in 2020
Here are the SWIFT codes for all Nigerian Banks in ascending order:
Access Bank SWIFT Code – ABNGNGLA
Central Bank of Nigeria SWIFT Code – CBNINGLA
CITI Bank SWIFT Code – CITINGLA
Diamond Bank SWIFT Code – DBLNNGLA
ECO Bank SWIFT Code – ECOCNGLA
Equitorial Bank SWIFT Code – EQUTNGLA
First Bank of Nigeria SWIFT Code – FBNINGLA
First City Monument Bank (FCMB) SWIFT Code– FCMBNGLA
Fidelity Bank of Nigeria SWIFT Code – FIDTNGLA
Guaranty Trust Bank (GTB) SWIFT Code – GTBINGLA
Heritage Bank SWIFT Code – HBCLNGLA
Unity Bank SWIFT Code – ICITNGLA
Jaiz Bank SWIFT Code – JAIZNGLA
Polaris Bank SWIFT Code – PRDTNGLA
Sterling Bank SWIFT Code – NAMENGLA
Bank PHB SWIFT Code – PLNINGLA
Keystone Bank SWIFT Code – PLNINGLA
Skye Bank SWIFT Code – PRDTNGLA
Stanbic IBTC SWIFT Code – SBICNGLX
Standard Chartered Bank SWIFT Code – SCBLNGLA
Union Bank SWIFT Code – UBNINGLA
United Bank for Africa (UBA) SWIFT Code – UNAFNGLA
WEMA Bank SWIFT Code – WEMANGLA
Zenith Bank SWIFT Code – ZEIBNGLA
SO, that’s the list of all SWIFT Codes of Nigeria Banks
If you think this article is helpful, can you share it with your friends for them to gain as well? Cool, kindly click on the floating social media ICONS and the article will be automatically shared on your social medias’ timelines.
15 Best Sports Betting Websites in Nigeria: Check them out!
#VIDEO: How to Start a Blog for FREE with Your Smartphone
How To Start a Logistics Business in Nigeria – (10 Easy Steps)
List of VISA Free Countries for Nigerians with International Passport
President Muhammadu Buhari’s Full Speech on #EndSars Protest
PayPal to Allow Buying, Holding and Selling of Cryptos By 2021
How to Get a Payoneer Account in Nigeria (FREE) & Obtain MasterCard Easily
11 Best Ways to Promote or Market Your Music in Nigeria and Beyond
Top 10 Agricultural Businesses in Nigeria with Little Capital but Huge Profit
Top 10 Money Making Apps in Nigeria (2020) – Earn Money Using Smartphone
Top 10 Freelance Websites to Make Money Online in Nigeria
10 Best Affiliate Programs In Nigeria to Make Money Fast
Earn $25 for Free While You Send & Receive Money Online Easily!
Interested in Recharge Card Printing Business?
Subscribe to Receive Free Updates;
Buy a Reliable Web Hosting or Server
- Business51 years ago
Malthusian Theory: Is Corona Virus a Man-Made Weapon to Control the Population?
- Business51 years ago
How to Dress Like a Smart Entrepreneur in Nigeria
- Make Money Online7 months ago
20 Ways to Make Money from Home in Nigeria During this COVID-19
- Business51 years ago
Top 10 Hot-selling Products for Mini-Importation & Dropshipping in Nigeria
- Business51 years ago
How to Write a Business Proposal in Nigeria – and Possibly Woo Investors!
- Business51 years ago
5 Smart Ways to Save Money in Nigeria – Save & Earn Money Passively
- Business51 years ago
Top 10 Crowdfunding Sites in Nigeria to Get Donation Easily
- Freelancing10 months ago
Top 10 Websites to Get Freelance Writing Jobs in Nigeria (and Make Money Online)