Nigerian naira bank account alternatives in the US

Whether or not you can open a Nigerian naira account in the US will depend on the specific bank or provider you pick. Factors like your citizenship and residency may also make a difference, so do remember to read all the eligibility requirements carefully before you apply.

Wise is available in most countries around the world. However, there are a handful of places where Wise can’t offer services right now. Learn more

How to open a Nigerian naira account in the US will depend on the specific bank or provider you pick. Most banks or providers require a verification process, in which you submit some documents to confirm your identity, or attend in-person interviews.

Opening a Wise currency balance is similar, in a couple of simple steps:

1. Go to Home on the website or app.
2. Choose which currencies you’d like to hold money in by clicking Open a balance.
3. You’ll need to add some money and verify your identity first to keep your account safe.

1. add 20 GBP to your account (or the equivalent in your currency)
2. verify your identity

If you're getting USD or EUR account details, you'll need to upload a photo of yourself holding your ID as part of verifying your identity. *Learn more.* Wise may request additional documents to verify a customer's identity.

Create your Wise account online or with your smart device, and complete the Wise verification step to get started. You’ll need to enter your email, Facebook, Google or Apple ID, and create a password. Tell us a bit about yourself, and enter a phone number for 2-factor authentication. For a personal account, you can sign up with just your legal name, date of birth and address, and get verified with your normal proof of ID and address. Learn more about how to open a Wise account.

Opening a Wise account is free for personal customers. Holding a currency balance, and getting local account details are also normally free, but you'll need to add money to your account first for personal use. Business customers pay a one-time setup fee to get full account features. Learn more about the fees for opening the Wise account.

If you open an account in Nigerian nairas - or any other foreign currency - here in the US, you’ll usually be able to use it to send and receive payments, and in some cases spend with a debit card. So far, so much like your normal bank account. Where foreign currency accounts can differ from regular current accounts is in the fees you pay. You may find there’s a high minimum balance, plus hefty international fees - and often, no opportunity to earn interest either.