Receiving money as a remote employee for foreign brands in Nigeria is stressful. From charges from the bank to a fluctuating exchange rate, you often find it difficult to receive funds. Imagine working tirelessly for a month, and you don’t receive your payment on time.
We all know that receiving money from employers abroad is always a delight. I mean receiving money is a delight, but when it’s in a foreign currency-it feels different. Until recently, international money transfers were always characterized by time-consuming paperwork for both the sender and recipient.
But today, receiving money from overseas countries like the US, UK, Canada, Germany, Australia, Denmark, France, and Belgium is like taking a walk in the park. It is now so easy that the whole money transfer process can be done in less than 2 minutes.
In this post, we’ll discuss 5 methods of receiving international payments for remote workers in Nigeria.
5 Ways To Receive Money From International Remote Roles in Nigeria
TransferWise is an online money transfer service based in London. Established in 2011, it uses the exchange rates offered by Reuters to facilitate its transactions. With TransferWise, no secret fees exist.
Remote Boss’s can easily send you payments through their credit cards, debit cards, or bank account. TransferWise offers you a secure way to receive money from another country.
With TransferWise, the distribution of the service is rapid and you get a notification when you receive the money.
MoneyGram is next on our list of the best ways to collect money for remote jobs. It is among the world’s oldest and most reliable money transfer services. With a strong presence in over 200 countries, it is the money transfer platform of choice for people hoping to receive money in Nigeria.
Within minutes, MoneyGram provides a secure way to receive your money. All you need to do is visit your nearest MoneyGram agent site, include a reference number and a valid identification photo ID (passport, national ID, or a residency permit).
In addition to supplying a reference number and a valid photo ID, you may be asked to complete a simple receipt form to verify your transaction.
Armed with this adequate data, go to any bank nearest you and ask for the MoneyGram section, and collect your money.
The third means that Skrill is on our list of the easiest ways for remote employees to receive money. Skrill helps you to get your payment directly into your Nigerian bank account in minutes, certainly one of the easiest ways to send and receive money from anywhere in the world.
Skrill provides you with a digital wallet, a simple way for your remote employer to send money from you. Everything you need to do is sign up for the Skrill platform and give the company you work for remotely your email address.
Your customer will give you cash in your Skrill wallet within minutes with only your email address. You can then initiate a transfer to your Nigerian bank account after that, which will be reflected in no time.
With Skrill, is your money safe? Yes, as they employ PCI-compliant standards to ensure that their data is secure, it is completely safe.
Paystack is unquestionably Nigeria’s best payment processor. Everything about the platform gives credence to the fact that with its simple but elegant user interface and easy-to-use features, they are set to capture the Nigerian market.
Unlike other payment processors that ask for so much detail, creating an account with Paystack is easy and straightforward.
To build an account with them, Paystack does not charge you. For international transactions, they only charge a service fee of 3.9 percent + N100. As many merchants find them easy to use, they process billions of transaction value monthly.
It is important to note that it is feasible if you want to collect your payments from Paystack in USD instead of Naira.
5. Rave by Flutterwave
Flutterwave offers a forum for you to collect payments across the globe in many currencies. With Flutterwave, you don’t have to think about going to the bank when you need to collect money from clients overseas. The Flutterwave platform helps you to initiate transactions quickly and conveniently from the comfort of your bedroom.
It is as easy as ABC to obtain cash from Flutterwave. All you need is to build an account on the website, include the details of your local bank account, and receive money from all over the world.
Flutterwave was formed in 2016 and has pushed forward to be a major market shareholder in a short time, offering PCI-DSS compliant solutions to ensure the protection of your customer data.
Rave enables you to accept payments directly from bank accounts, cards, and mobile money wallets with no hassles and zero set-up fees locally and internationally. For each international transaction you conduct, Flutterwave charges you 3.8 percent.
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