In 2021 when I first started earning on the online space, one of the major problems I encountered was having to collect my earnings after working so hard for months non – stop
At the end of the year, I lost my dad, things were messy and that’s when I realized I needed to collect everything I had earned in preparation for the burial, as at this time I had a Payoneer virtual account and I had gathered over $600 dollars working for people online, little did I know that I was about to lose everything I had and get the greatest shock of my life.
Follow me as I unveil the best guys running virtual accounts currently in Nigeria at almost zero cost to you, using the current black market rate.
#1 Best Payoneer Alternatives for Nigerians| Flaxx Virtual Account (2022 Update)
Most platforms that earn you money online will request a US, UK, or GBP bank account. Since you do not reside in the US or UK, how will you be able to get your earnings as a freelancer or anybody who wishes to receive payments from abroad in Nigeria?
There are many platforms out there that will get you these three virtual accounts but many of them come with a very low exchange rate. And this is what I had to battle with during my dad’s burial
Ever since PayPal delisted Nigeria from the list of countries that could receive money through its service, receiving money from outside the country became very difficult and tedious.
Payoneer, however, provides a secure and easy alternative for Nigerians to continue receiving money from other countries.
Payoneer’s cross-border payment service has empowered local businesses, freelancers, digital marketers, amazon publishers and every other online seller to make and receive payments globally, just like they would locally.
In other words, it works exactly as PayPal does.
Recently, Payoneer entered into partnerships with top e-commerce and freelance platforms, affiliate networks, and global outsourcing providers to provide an easy way to receive money from clients overseas.
To receive money through Payoneer in Nigeria, you have to register through a very rigorous process
After registering, you receive a virtual bank account number after which can be used to receive payments into your Payoneer account, you can go ahead to request for withdrawal into your bank account.
Remember that depending on your bank, charges are applied differently using Payoneer, they make use of bank rates not black-market rates.
Over the years, Payoneer, has been known for a long time and is very trustworthy, but the exchange rate on this platform is very low and discouraging. This makes you wonder if there are any platforms available for Nigerians, where you could get an exchange rate the same or close to the black market rate
And so a few weeks before my dad’s burial, I got to know about this new website, picked up a few new gigs on Upwork, God being so kind, I was able to raise $400 to pay off my contribution to the family and honor my father.
Their website provides you with everything that the Payoneer account gives you and even includes a feature that is not available on the Payoneer website. If you want to create a virtual USD, Euro, or GBP account, go to this new website called Flaxx.co
The rest of this article explains all you need to know about this new platform, Flaxx.co.
- Works well with PayPal, Payoneer, and Amazon
- Virtual Account for PayPal Verification and International Payment
- Accept credit and debit cards, Alipay, Applepay and so much more
- Works well with other freelance services like Upwork and Fiverr
I have tested the website myself and everything is functional. The USD account here can be used in withdrawing funds from PayPal, Payoneer, Amazon, Upwork and Fiver. Like Grey and Payoneer, creating a virtual account is free, and you only need to prove your identity in four easy steps.
You can also link this virtual account to Payoneer so that you can withdraw your Payoneer funds at the black market rate. I guess everybody knows Payoneer’s rate is very low. The rate right now will be about NGN430, which is the official CBN rate. If you still withdraw from Payoneer straight to your Naira account, you are losing a lot of money and leaving out the better part on the table.
How to Register A Flaxx Account
To register and verify your Flaxx account, follow this process,
Go to https://Flaxx.co
On the left side corner, click on the three lines and choose Register
Provide all your necessary details, including your Full name, email, Phone number and password.
When you are done, click on create an account. Then the website will ask you to verify your email address.
An OTP would be sent to your email to verify, input the OTP code and click on Verify. You will be verified immediately and your account will be activated successfully
And there you have it, your account would be ready, you can simply login with your email and password to complete your KYC. They trade with the black market rate and receives deposit at zero cost.
After ID verification, you can request virtual cards. You can request GBP, USD, Euro, and Naira bank accounts. Your USD account will be given to you immediately you request for one.
Flaxx is currently the best alternative to Payoneer for Nigerians. The account can be linked to your PayPal for withdrawal, and you can also use it as your payment method for other platforms that request international payment.
Grey.co on the other hand also works well, just that you can only use the Euro and GBP bank account as the USD account no longer works for payment and ACH transfers. If you have any questions or doubts, let me know in the comment section below.
I would definitely love to hear from you…