How to withdraw from Payoneer to a Nigerian account

Payoneer charges $1.50 to withdraw dollars into a dollar account, and up to 3% when it converts your balance to naira, which is $30 on a $1,000 payment. The cheaper route is a dollar account in your own name. Grey, Daya Borders, Cleva and Chipper Cash all give you US account details, and Daya Borders takes 0% on whatever lands.

Daya Borders charges 0% on an incoming dollar payment with no cap, against 0.8% capped at $10 at Grey, 0.8% capped at $5 at Cleva and 0.75% with no cap at all at Chipper Cash. Every fee on this page comes off each company's own published pricing, checked on 2 October 2026. Getting paid by an overseas client has more moving parts than the withdrawal itself, and the guide to getting paid by international clients in Nigeria covers the rest of them.

How much does Payoneer charge to withdraw in Nigeria?

Payoneer publishes two withdrawal fees, and which one you pay comes down to a single thing: whether the account at the other end holds the same currency as your Payoneer balance.

• $1.50 a withdrawal to take dollars out into a dollar account, while you're under $50,000 of withdrawals a month.
• 0.5% of each withdrawal once you pass $50,000 in a month.
• Up to 3% of the amount when Payoneer converts into a different currency, naira included. Payoneer sets the exchange rate on that conversion.

On a $1,000 payment those come out at $1.50 and up to $30. Nothing else about the withdrawal changes between the two routes: same account, same button, same money. There's also a charge for doing nothing at all. Payoneer's pricing page lists a $29.95 annual account fee, charged when 12 months pass and you've received less than $2,000 in payments, so a freelancer who goes a quiet year can trigger it without making a single transaction.

Should you let Payoneer convert to naira, or convert it yourself?

Converting it yourself is cheaper on the fee. A same-currency withdrawal from Payoneer costs $1.50 and a Payoneer conversion costs up to 3%, so on $1,000 you're choosing between $1.50 and up to $30. What the cheaper route needs is somewhere to put the dollars, which is what a dollar account in your own name is for.

The fee isn't the whole of it. When Payoneer converts, Payoneer picks the rate and the moment. When you hold the dollars, you pick both. At the close on 30 September 2026 the official rate was ₦1,329.16 to the dollar and the black market rate, also called the parallel market rate, was around ₦1,384. On $1,000 that gap is worth roughly ₦54,840, which is several times the size of any fee in this article. The piece on the mid-market rate versus the rate you actually get goes through where it comes from.

What it means for you: compare the naira figure you'd actually end up with, not the fee line. Two apps can charge the same 0.8% and still leave you thousands of naira apart on the same $1,000.

Which account should you withdraw your Payoneer dollars into?

Four Nigerian dollar accounts take a Payoneer withdrawal and publish what they charge to receive it. Grey takes 0.8% capped at $10, Daya Borders takes 0%, Cleva takes 0.8% capped at $5, and Chipper Cash takes 0.75% with no cap. All four give you US account and routing details in your own name, which is what Payoneer needs at the other end.

Chipper Cash is the one to watch on a big payment, because 0.75% sounds cheaper than 0.8% right up to the point the caps bite. Grey stops charging at $10 and Cleva stops at $5, and Chipper Cash doesn't stop. The comparison of Chipper Cash alternatives in Nigeria works out where it crosses over. Chipper Cash also charges $1.50 a month and ₦5,000, non-refundable, to open the account in the first place.

One practical difference doesn't show up in a fee table. Grey, Cleva and Daya all document taking a Payoneer withdrawal: Grey has a support article on it, Cleva has a guide to it, and daya.co/borders names Payoneer by name as a platform to add your Daya Borders details to, alongside Upwork and Deel. Chipper Cash's own page on receiving payments lists Skrill, PayPal, Amazon KDP, Deel, Stripe, Wise, Upwork and Tango, and doesn't name Payoneer.

So if the plan is to point Payoneer at one dollar account and leave it running, Daya Borders is the one with Payoneer named on its own product page and 0% on what arrives.

Where does Daya Borders fit?

Daya Borders gives you US dollar and euro account details in your own name and takes 0% on an incoming dollar or euro payment, with no cap and no conditions attached. Its own page puts it plainly: "We take nothing from an incoming dollar payment. If a client sends $1,000, your wallet balance goes up by $1,000." There are no fees on Daya Borders today.

• US dollar and euro account details in your own name. The euro account is a real euro bank account, not a dollar account that converts euros on the way in.
• 0% on anything that lands, uncapped, on dollars and on euros.
• Hold the dollars and convert to naira when you choose, rather than at whatever moment the payment happens to arrive.
• Send out to a Nigerian bank account, an international dollar account, a stablecoin wallet or another Daya Borders user.

Where Daya Borders isn't the answer: if what you want is a card to pay for AWS, Netflix or a Shopify subscription, Daya Borders has no card yet. Grey charges $5 to create a virtual dollar card and $1 to fund it, and Cleva and Raenest issue cards too. The comparison of Grey alternatives in Nigeria covers that side of it. On the job in this article, which is getting Payoneer dollars out cheaply and keeping them in dollars, Daya Borders is the cheapest of the four at 0%.

How do you add a dollar account to Payoneer?

Payoneer only pays out to an account in the same name as your Payoneer account. On an individual account the account holder name has to match your name, and on a company account it has to match the company name. So the dollar account at the other end has to be yours.

1. Open the dollar account and find its US account number and routing number. On Daya Borders they sit on the account screen.
2. In Payoneer, go to withdraw to bank and add a new bank account.
3. Choose USD as the withdrawal currency so Payoneer isn't converting anything, then enter the account number, the routing number and your own name as the account holder.
4. Withdraw. Payoneer shows the fee, and the exchange rate where a conversion is involved, before you confirm.
5. Read the figure on the confirmation screen before you press it. If the fee shows as a percentage rather than $1.50, the destination currency is wrong and Payoneer is about to convert.

How long does a Payoneer withdrawal take, and what's the minimum?

Payoneer says most withdrawals land in your account the same day, and some take up to two business days. The minimum and maximum per transaction aren't one number for everybody. Payoneer sets them per account and shows them under the amount field when you make the withdrawal, so the figure that applies to you is the one in your own account.

The receiving side adds its own time on top. Grey's support pages put it at one to three working days depending on the currency and the payment scheme, and a Payoneer withdrawal into a US dollar account normally travels on ACH rather than as a wire. The clock is set by Payoneer and the payment rail, not by which dollar account you picked.

What does a $1,000 Payoneer payment actually leave you with?

Taking $1,000 out of Payoneer in dollars costs $1.50, so $998.50 arrives at the destination. What happens to it next depends on which account that is, using each provider's published receiving fee.

• Grey: 0.8% of $998.50 is $7.99, which leaves $990.51.
• Daya Borders: 0%, which leaves $998.50.
• Cleva: 0.8% is $7.99, capped at $5, which leaves $993.50.
• Chipper Cash: 0.75% with no cap is $7.49, which leaves $991.01, before the $1.50 monthly charge.

Letting Payoneer convert instead takes up to 3%, which is up to $30 off the same $1,000 before a single naira reaches your bank. And every one of those figures is still in dollars. The naira you finish with depends on the rate you convert at, so compare the naira each app would actually pay you rather than the fee line. If your money comes through Fiverr rather than from a client directly, the route changes again, and the guide to getting paid on Fiverr in Nigeria covers it, because Fiverr's own bank transfer runs through Payoneer.