Can Opay Receive Dollars? (things to know about Opay international transactions)

can Opay receive dollars

Recently, Fintech companies such as Opay, Palmpay, Kuda, etc are dominating the banking industry in Nigeria and many other countries, both in Asia, South America, and many other African countries.

In Nigeria now, the most popular Fintech company is Opay! Being the most used app that offers many financial services at no charge, you can use the Opay app to recharge your tv cables, recharge your phone, buy data, pay electricity bills, send and receive money both from banks and other Fintech apps, etc.

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Being the most used Fintech company in Nigeria and many other countries, one of the most popular questions I have heard people ask about this app is ” Can it receive Dollars and other foreign currencies and convert them to naira?

Well, in this article, you will find out if Opay can receive Dollars or not, so read to the end.

As a freelancer, blogger, internet marketer, etc, I understand that we earn mainly in foreign currencies such as USA Dollars, Great British Pounds, Canadian Dollars, European Euro, Japanese Yen, etc. Opening a domiciliary bank account in Nigeria can be very stressful and a great task, so the most popular question being asked by many people in Nigeria is if an Opay account can receive Dollars and other foreign currencies.

Can Opay Receive Dollars

Yes, Opay can receive Dollars and other foreign countries through WorldRemit.

Although Opay is a multinational Fintech company, that doesn’t make it to be able to receive Dollars and other currencies.

Ordinarily, They can’t receive foreign currencies in Nigeria by themselves. They can be able to receive money from more than 50 countries now and in different currencies because they partnered with WorldRemit.

WorldRemit is Licensed as a Money Transmitter by the New York State Department of Financial Services and in Puerto Rico, so they are an international financial institution that can transact in many currencies, that’s why Opay can receive Dollars and other currencies because of their partnership with WorldRemit.

Does Opay Offer Domiciliary Account

Knowing that they can be able to receive US Dollars and other currencies, you might begin to wonder if they offer their customers Domiciliary bank accounts for foreign currencies.

Opay does not offer Domiciliary bank accounts to its customers.

The surprising thing about all these is that you can use your normal Opay account number which is your phone number to receive funds from outside of Nigeria and in any foreign currency.

Sounds cool right? no stress from going to banks to open a domiciliary account where you will be asked to provide 2 or 3 sureties, a Nepa bill, I’d, and the rest.

Can Opay Convert Dollars To Naira

Knowing that they can receive your Dollars and any other currencies, you might be wondering if they could convert them to naira automatically as they don’t offer Domiciliary accounts.

Yes, Opay will convert your Dollars and other currencies to naira automatically once they receive the payments through WorldRemit.

The truth is, in Nigeria now, there is a unification of Dollar value, meaning that both banks and black markets can now convert Dollars at almost the same rate. So, you don’t need to be afraid of the conversion rates now because Opay will convert your money to naira at a very cool rate.

As I always say in my articles, I don’t write about what I haven’t experienced myself or what i haven’t seen another person experience. Although I haven’t used this platform to receive and convert my Dollars before, but from the experience I got from my friend who used it recently, the conversion rate was a few naira less than a black market rate which is also great.

What Countries Can Use Opay

Talking about countries that use Opay, they are many. Sometimes people in Nigeria mistake the company for a Nigerian-based company. I usually laugh at such comments.

Opay operates in more than 50 countries and they are on 3 continents which are Asia, Africa, and South America.

As I explained, they are in 50+ countries which I can’t mention all of here, but some of them are Nigeria, Egypt, Pakistan, Morocco, UAE, South Africa, Ethiopia, Kenya, Mexico, etc.

So, they are a multinational company and not a Nigerian company as many people are made to believe.

Conclusion

I hope this article is very helpful to you, especially if you have people outside that send your money, if you are a digital marketer like me, this update is for you, so good luck.

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