How to Open a Grey Account in Nigeria
Receiving money from abroad has always been a challenge for many Nigerians—especially freelancers, remote workers, and business owners. Traditional banks make the process slow, expensive, and frustrating.
That’s where Grey (grey.co) comes in. With a Grey account in Nigeria, you can easily open virtual USD, GBP, and EUR accounts, receive payments from international clients, and withdraw directly into your Nigerian bank.
In this guide, you’ll learn how to open a Grey account in Nigeria, the requirements, benefits, and fees, plus tips on why it’s one of the best options in 2025.
What is Grey?
Grey is a fintech platform that provides virtual bank accounts to Nigerians and other Africans. It helps you receive payments in foreign currencies like dollars, pounds, and euros—without needing a physical domiciliary account.
With Grey, you can:
- Get a USD, GBP, and EUR account instantly.
- Receive payments from platforms like Fiverr, Upwork, Payoneer, or foreign employers.
- Convert to Naira at competitive rates.
- Withdraw to your local Nigerian bank account with ease.
- This makes Grey one of the best virtual banks in Nigeria for freelancers.
Requirements to Open a Grey Account in Nigeria
To open your Grey account, you need:
- A valid email address.
- Nigerian phone number.
- A government-issued ID (NIN, International Passport, Driver’s License).
- A utility bill or proof of address (not older than 3 months).
- A smartphone or laptop with internet connection.
Step-by-Step: How to Open a Grey Account in Nigeria
1. Sign Up
Go to grey.co or download the Grey app from Google Play or App Store. Click “Get Started” and register with your name, email, phone number, and password.
2. Verify Your Email
Open your inbox and confirm the link Grey sent to activate your account.
3. Complete KYC
Upload your valid ID, proof of address, and a selfie photo. This step takes about 1 business day for approval.
4. Create Virtual Accounts
After KYC, go to Accounts in your Grey dashboard. Choose USD, GBP, or EUR, then request your virtual bank account. This is usually set up in 1–3 business days.
5. Start Receiving Payments
Share your virtual account details with clients, employers, or platforms. Funds arrive in your Grey wallet, and you can convert and withdraw to Naira.
Grey Account Fees in Nigeria
Deposits:
- 1% fee for international bank transfers.
- 3.8% for card deposits.
Withdrawals:
- ₦35 flat fee per transfer to Nigerian banks.
Currency Conversion:
- Competitive exchange rates compared to traditional banks.
Benefits of Grey for Nigerians
- Receive payments in foreign currencies hassle-free.
- Faster than traditional domiciliary accounts.
- Works perfectly for freelancers and remote workers.
- Low fees and instant withdrawals.
- Available on web and mobile app.
- Safe and regulated platform.
Grey vs Geegpay: Which is Better?
- Both Grey and Geegpay are popular for international payments in Nigeria.
- Grey offers USD, GBP, and EUR accounts with low withdrawal fees.
- Geegpay also provides virtual accounts but has slightly different rates and features.
- For freelancers, it’s smart to have both Grey and Geegpay to compare exchange rates and maximize your earnings.
Final Thoughts
Opening a Grey account in Nigeria is the easiest way to receive international payments in 2025. Whether you’re a freelancer, entrepreneur, or remote worker, Grey gives you fast access to USD, GBP, and EUR accounts—all from your phone.
If you want stress-free global payments, now is the time to create your Grey account and enjoy borderless banking.
FAQs About Grey Account in Nigeria
1. Is Grey legit in Nigeria?
Yes. Grey is a regulated fintech company trusted by thousands of Nigerians.
2. How long does Grey account verification take?
Usually 1 business day for KYC and up to 3 days for virtual accounts.
3. Can I withdraw directly to my Nigerian bank?
Yes, and it only costs ₦35 per transaction.
4. Does Grey support Payoneer and Upwork payments?
Yes. You can use Grey to receive money from freelancing platforms, employers, and clients abroad.
5. Is Grey better than a domiciliary account?
Yes, because it is faster, easier to set up, and cheaper than traditional domiciliary accounts.
