In this article, you'll discover whether Revolut works in Nigeria, explore some drawbacks if it is available, and consider potential possibilities. Stay tuned to find out more.
Does Revolut Work In Nigeria?
Revolut does not operate directly in Nigeria, meaning there is no dedicated Revolut Nigeria website, and new customers cannot sign up for Revolut in Nigeria. However, existing Revolut users from other countries can still use their accounts while visiting Nigeria. The Revolut card supports spending in Nigerian Naira (NGN) and can be used at locations that accept Visa or Mastercard.
Despite this, there are some limitations. Users cannot top up their Revolut cards in Nigeria, and currency conversion to and from NGN is not supported within the Revolut account. Additionally, money can only be sent to Nigeria in USD, not NGN. Users should also be aware of the withdrawal limits and fees associated with their respective Revolut plans.
Fees and Charges for Using Revolut in Nigeria
When using Revolut in Nigeria, there are several fees and charges to be aware of:
- Currency Conversion Fees: Revolut charges additional fees for currency conversion on weekends.
- ATM Withdrawal Fees: Free ATM withdrawals up to £200 per month for Standard plan users; a 2% fee applies for withdrawals above this limit.
- Transaction Fees: Users need to be cautious about exchange rates and currency conversion fees, especially on weekends.
- Top-Up Limitations: Card top-ups in Nigeria are not available.
- Sending Money: Money can be sent to Nigeria in USD but not in NGN.
Is Revolut the Best Option in Nigeria?
Even if Revolut is available in Nigeria, it might not be the best option for users due to several limitations and restrictions that can affect the overall user experience.
- Top-Up Restrictions: Users cannot top up their Revolut cards in Nigeria.
- Currency Conversion: Conversion to and from Nigerian Naira (NGN) is not supported.
- Sending Money: Money can only be sent to Nigeria in USD, not NGN.
- Withdrawal Limits: Users must adhere to the withdrawal limits and fees of their Revolut plan.
- Limited Acceptance: Revolut cards are mainly accepted in major towns and cities.
Alternative Payment Solutions in Nigeria
1) OneSafe
OneSafe is a leading alternative payment solution in Nigeria, offering a seamless and user-friendly experience. With lower fees, efficient onboarding, and robust customer support, OneSafe stands out for its multi-currency support and secure financial operations, making it an ideal choice for businesses navigating both fiat and cryptocurrency transactions.
OneSafe Reviews
OneSafe has received a TrustScore of 3.2 out of 5 on Trustpilot. Users appreciate the platform's seamless and user-friendly experience, highlighting its efficient onboarding process and robust customer support. Check out more of our reviews here!
2) Wise
Wise is an international money transfer service offering low-cost, transparent, and fast transfers to Nigeria. Key features include real-time exchange rates, no hidden fees, and robust security measures. With high ratings on app stores and a user-friendly platform, Wise is a reliable option for international payments.
Wise Reviews
Wise has a review score of 4.3 out of 5 based on 246,252 reviews. Users generally mention issues with the verification process and customer service. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and reliable payment solution in Nigeria, supporting global transactions with ease. Key features include 24/7 fraud monitoring, Buyer and Seller Protection, and the ability to link multiple cards. These benefits make PayPal a practical choice for both personal and business financial activities.
Paypal Reviews
PayPal has a review score of 4.4 out of 5 based on 2,112 reviews. Users generally mention high transaction fees, lengthy dispute resolution processes, and delays in fund transfers to regional bank accounts. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Nigeria
Can I open a Revolut account in Nigeria?
No, new customers cannot open a Revolut account in Nigeria.
Can I use my Revolut card in Nigeria?
Yes, existing Revolut users can use their cards in Nigeria where Visa or Mastercard is accepted.
Can I top up my Revolut card in Nigeria?
No, topping up a Revolut card in Nigeria is not possible.
What currency can I send to Nigeria using Revolut?
You can only send money to Nigeria in USD, not in Nigerian Naira (NGN).
Are there any fees for using Revolut in Nigeria?
Yes, there are fees for currency conversion, ATM withdrawals, and transaction fees, especially on weekends.
Conclusion
Choosing the right payment solution in Nigeria is crucial due to the limitations of services like Revolut. OneSafe offers a seamless, user-friendly experience with lower fees and robust support, making it an excellent alternative. Explore OneSafe today and sign up to enhance your financial operations.