Many Nigerian online entrepreneurs are now beginning to see the benefits of withdrawing from Adsense to Payoneer instead of to their Nigerian bank accounts.
The truth is that, Google Adsense has proven to be a stable income platform for many Nigerians, however, there’s been issues concerning getting the full value for their dollars earned via Adsense.
If you have a Nigerian Adsense account, there are only a few ways you could withdraw your earnings in Nigeria.
You either withdraw your adsense earnings to a Domiciliary Account in Nigeria or you withdraw it to your local bank account in Naira.
Issues with Payoneer to Local Bank Withdrawal
There are a few issues with both withdrawal options. With a domiciliary Account, it’s not easy or straightforward to open and you’d mostly have to maintain a minimum account balance of $100 (>50k Naira) or more. This is money you could invest somewhere for more earnings.
With the local bank withdrawal option, you would essentially be cheated by the banks, and there is nothing you can do about it.
Most banks would convert your dollars to Naira using exchange rates lower than what they charge if you use that same account to make payments in dollars.
In conclusion, withdrawing your adsense earnings via Nigerian banks give you less options on how to spend, use, and invest your adsense earnings.
Thus, most Nigerian Adsense publishers are now looking for other ways to get full value for their adsense dollars.
That is why in this post, we’ll look at how to start withdrawing your adsense via Payoneer.
With your adsense earnings in your Payoneer account, you could:
- Withdraw your earnings in bits to your Nigerian account as needed, not in bulk as in Adsense to your Nigerian bank account
- Buy Crypto with your dollars
- Pay for stuffs on websites banned by Nigerian banks
- Stash your dollars safely where no Nigerian government can dip into your earnings
- Enjoy lower transaction costs for online payments and purchases
- Easily send money abroad without the need for bank wire fees.
The benefits of having your adsense earnings paid to your Payoneer account are just enormous.
Enabling Adsense to Payoneer Withdrawal
To enable your Adsense account for Payoneer withdrawal, there are a few things you must do.
Firstly, you have to ensure that your adsense address corresponds to the country of your Payoneer receiving account and that the address is verified by Adsense.
Payoneer receiving accounts for Nigerians are in USD, EUR, and GBP. So, the address in your adsense account has to be in the U.S, U.K or in Europe, to be able to withdraw from Adsense to Payoneer.
Setting up a Foreign Verified Adsense Account
You can set up a foreign verified adsense account by inputting and verifying a foreign address on your adsense account.
You will need someone in the specific foreign country, either a friend or sibling, to receive the code sent by Adsense via mail on your behalf.
The person would then send you the address verification code sent by Adsense, which you will then need to input into your adsense address verification, to confirm your account.
If you cannot go through the process of verifying a foreign adsense account, there’s an alternative way to go about it.
You can purchase a U.S, U.K or Europe verified adsense account, and then change the name to correspond to your Payoneer name.
If you want to withdraw your adsense earnings to your Payoneer account in the same month, then you must make the name change before the 20th of that month.
Withdrawing from Adsense to your Payoneer Account
Once you have a foreign adsense account with the address verified and the name corresponding to your Payoneer account, you can start withdrawing your adsense earnings to your Payoneer account.
But first, you have to input your Payoneer bank account details into your adsense payment settings.
To find the necessary details to fill into the form fields in your Adsense Payment settings, go to your Payoneer account home page and click on Receive >> Global Payment Service from the dropdown.
You’ll be redirected to a page with all your receiving bank accounts.
If you’re yet to create a receiving bank account on Payoneer, you can request for one by using the ‘REQUEST NOW’ button at the bottom of the page.
It could take a maximum 48 hours to get your Payoneer receiving account set up and approved.
Once it is approved, you can then copy the bank account details to your adsense payment settings and save it. Thereafter, you can start withdrawing from Adsense to your Payoneer account.