A sender can pay you in euros while you're in Nigeria. They make a regular euro bank transfer, the same way they'd pay into any other euro account, and the euros arrive as euros.
In short
- A sender pays you in euros by bank transfer, using the account details in your Juicyway app.
- You can get a Juicyway EUR account without being in Europe.
- You need a Juicyway USD account before you can request a EUR account.
- Banks make euro transfers in Europe through SEPA, and a standard SEPA payment arrives within one business day.
- Once the euros are in your EUR account, you can convert them to naira, pay someone else in euros, or leave them in the account.
Who receives euros in Nigeria
People in Nigeria are paid in euros for different reasons. Freelancers invoice clients in euros. Companies in Europe employ remote workers in Nigeria. Businesses sell to customers in Europe. People in Europe send money to people in Nigeria.
In each case the sender has euros, and the person being paid needs a euro account to receive the money.
What a sender needs
Banks make euro transfers across Europe through SEPA, the Single Euro Payments Area. SEPA covers 41 countries and territories, including every EU member state, Switzerland, Norway, Iceland, and the United Kingdom. A company paying a contractor, and a person sending money to a relative, both pay through SEPA.
To make a SEPA payment, the sender needs the account details in your Juicyway app: the account number and the account name. Across Europe, a sender enters an IBAN, the International Bank Account Number, to pay someone in euros. The sender enters the details you give them, and their bank makes the payment the same way it would to any other account in Europe.
A standard SEPA credit transfer arrives within one business day at the latest.
Do you have to be in Europe?
No. You can get a Juicyway EUR account without being in Europe and without a European bank account. For the sender, paying you is an ordinary bank transfer.
How a EUR account differs from a naira account
A naira account at a Nigerian bank is a naira account. When a sender transfers euros to one, the receiving bank converts the euros to naira before the money reaches you, and you don't decide when that conversion happens.
A EUR account is a euro account. The euros arrive as euros and remain euros until you convert them.
Some Nigerian banks also offer domiciliary accounts that keep foreign currency, euros among them. The requirements, charges, and receiving options differ between banks.
Checks before the sender pays you
- Account name: Give the sender the account name exactly as your Juicyway app shows it. Banks in the euro area check the name the sender enters, comparing it with the name on the receiving account. The sender's bank shows a warning when the two names don't match.
- Account number: Give the sender the account number exactly as your app shows it.
- Payment type: Ask the sender to make a euro bank transfer from a euro account. When a sender pays from outside the SEPA countries, or from an account in another currency, their bank uses a different payment system, with different timing and charges.
- Amount: For a large payment, check your limits in your Juicyway app before the sender makes the transfer.
Getting a EUR account on Juicyway
A Juicyway EUR account gives you euro account details to give a sender, and the euros remain euros until you convert them. To request one, follow these steps:
- Open a Juicyway account and verify your identity.
- Request a USD account. You need one before you can request a EUR account.
- Open EUR in your Juicyway app and tap 'Account details'.
- Tap 'Request account' and confirm the request.
- Refresh the app. Your EUR account details appear once the account is ready. This can take a few minutes, and the details can appear before the confirmation email arrives.
- Give the sender your account number and account name.
Once the euros are in your EUR account, you can do any of the following:
- Convert them to naira: Use 'Convert' in your Juicyway app. The app shows you the rate before you confirm, so you know the naira amount beforehand.
- Pay someone else in euros: Make a euro transfer to a bank account that accepts euros.
- Leave them in the account: When another euro payment is due, you avoid converting the euros to naira and having to buy euros again later.
Key terms
IBAN: International Bank Account Number. The account number a sender enters to pay someone in euros in Europe.
SEPA: Single Euro Payments Area. A set of payment schemes covering 41 countries and territories, under which banks make euro transfers between participating countries on the same terms they apply within one country.
SEPA credit transfer: The standard SEPA payment type. It arrives within one business day at the latest.
EUR: The euro, the official currency of 21 EU member states and in use across the wider SEPA area.
Frequently asked questions
Can I receive euros in Nigeria without being in Europe?
Yes. You can get a Juicyway EUR account without being in Europe, and a sender pays into it by bank transfer.
What details do I give a sender?
Your account number and account name, exactly as your Juicyway app shows them.
How long does a euro bank transfer take to arrive?
A standard SEPA credit transfer arrives within one business day at the latest.
Can a freelancer use a Juicyway EUR account for client payments?
Yes. A client who makes a euro bank transfer can pay your invoice into your Juicyway EUR account.
Do I have to convert the euros to naira straight away?
No. The euros remain in your EUR account, and you decide when to convert them.
