As the gig economy continues to thrive in Nigeria, freelancers and entrepreneurs are increasingly relying on platforms like PayPal, Upwork, and Payoneer to manage their payments from clients worldwide. These platforms offer great opportunities for earning, but when it comes to withdrawing funds, the fees and exchange rates can eat into your hard-earned money.
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One powerful solution to access your funds more efficiently and save on fees is by using a Cleva account. Cleva offers better exchange rates and lower fees compared to PayPal, Upwork, and Payoneer, giving you a better way to access your earnings and convert them into Naira. With Cleva, you can create a USD account, receive payments from international platforms, and convert those funds into Naira at the best rates, with zero fees for transfers to your local bank account.
In this detailed guide, we’ll walk you through the process of setting up a Cleva account and withdrawing money from PayPal, Upwork, and Payoneer into it, helping you maximize your earnings while minimizing costs.
Setting Up a Cleva Account
Before you can withdraw your earnings into a Cleva account, you’ll first need to set one up. Fortunately, the process is quick and easy. Here’s a step-by-step guide to get you started:
Step-by-Step Guide to Create a Cleva Account:
- Download the Cleva App or Visit the Website:
- Download the Cleva app from the iOS App Store or Google Play Store. Alternatively, you can visit Cleva’s website to sign up directly from your desktop or mobile browser.
- Sign Up:
- Open the app or website and click on the “Sign Up” button. You’ll need to provide your email address, phone number, and create a password to create your account.
- Verify Your Account:
- Cleva will send you a verification email. Check your inbox (and spam folder, just in case), and follow the instructions in the email to verify your account.
- Complete KYC Documentation:
- For a verified account, you’ll need to upload identification and proof of address. This step is necessary to comply with regulatory requirements and ensure the security of your transactions.
- Create a USD Account:
- Once your account is verified, you’ll be able to create a USD account in your Cleva dashboard. This is the account where you’ll receive your international payments. Setting it up takes just a few minutes.
Now that you have your Cleva account set up, let’s dive into how to withdraw funds from PayPal, Upwork, and Payoneer into your Cleva account.
Withdrawing from PayPal to Cleva
PayPal is one of the most widely used platforms for receiving payments from international clients. Withdrawing funds from PayPal to your Cleva account is a straightforward process, and here’s how to do it:
Step-by-Step Guide:
- Log into Your PayPal Account:
- Go to PayPal’s website or open the PayPal app and sign in using your credentials.
- Link Your Cleva USD Account:
- Navigate to “Account Settings” and then click on “Money, Bank, and Cards.” You will see an option to “Link a Bank.” Select Cleva’s bank name from the options and input the USD account details provided by Cleva.
- PayPal will send two small amounts of money to your Cleva account for verification. Once you receive them, enter the verification code in PayPal to complete the process.
- Transfer Funds:
- After successfully linking your Cleva account, click on “Withdraw Funds” in PayPal and choose your Cleva USD account as the destination.
- Enter the amount you want to withdraw and confirm the transaction.
- Wait for Processing:
- Withdrawals from PayPal to Cleva typically take 1-3 business days, although sometimes it could be processed on the same day.
Pro Tips:
- Match Your Names: Ensure that the name on your Cleva account matches the name on your PayPal account for a smooth transaction.
- Monitor Exchange Rates: PayPal’s exchange rates may vary, so it’s worth keeping an eye on the rates before initiating a withdrawal to get the best value for your funds.
- Verify Linked Accounts: Double-check that your PayPal account is verified and correctly linked to your Cleva account to avoid any issues with withdrawals.
- Avoid Small, Frequent Withdrawals: To save on transaction fees, try to withdraw larger amounts less frequently.
Withdrawing from Upwork to Cleva
Upwork is another popular platform used by freelancers globally. If you’re earning on Upwork, withdrawing your funds to Cleva is a seamless process. Follow these steps:
Step-by-Step Guide:
- Log into Your Upwork Account:
- Access your Upwork dashboard by logging into your account on the website or app.
- Navigate to Profile Settings:
- Go to your profile settings and click on the “Get Paid” tab under the “Settings” menu.
- Add a Withdrawal Method:
- If you haven’t linked your Cleva account yet, click on “Add a Withdrawal Method.” Choose “Direct to a US Bank (USD)” as your withdrawal method and input your Cleva account details. Click “Add Bank Account” to complete the setup.
- Initiate the Withdrawal:
- Once your withdrawal method is set up, go back to the “Get Paid” section, select the Cleva account, enter the amount you want to withdraw, and confirm the transaction.
- Wait for Processing:
- Upwork withdrawals to Cleva typically take 1-3 business days, though you may receive the funds on the same day in some cases.
Pro Tips:
- Ensure Account Name Matches: Make sure the name on your Cleva account matches the name on your Upwork account to avoid any withdrawal issues.
- Plan Your Withdrawals: To minimize fees, try to time your withdrawals strategically by monitoring your earnings on Upwork.
Withdrawing from Payoneer to Cleva
Payoneer is an excellent option for receiving international payments. If you’re using Payoneer, here’s how you can withdraw your funds to Cleva:
Step-by-Step Guide:
- Log into Your Payoneer Account:
- Go to the Payoneer website or open the app and log into your account.
- Add Cleva Account Details:
- In your Payoneer account, navigate to “Bank Accounts” and click on “Add Account.” Enter your Cleva USD account details as provided in your Cleva dashboard and submit the form.
- Withdraw Funds:
- To withdraw, go to the “Withdraw” tab and choose “Withdraw to Local Bank.” Select your Cleva account as the destination.
- Enter the Withdrawal Amount:
- Specify the amount you wish to withdraw and review any applicable fees.
- Confirm the Transaction:
- Complete the withdrawal by confirming the transaction. Payoneer typically processes funds within 1-3 business days, though sometimes the transfer may be completed on the same day.
Pro Tips:
- Ensure Name Matches: As with PayPal and Upwork, make sure the name on your Cleva account matches the name on your Payoneer account.
- Maintain Enough Balance: Ensure you have enough balance in your Payoneer account to cover any transaction fees when withdrawing funds.
Additional Tips for Maximizing Withdrawals
- Monitor Currency Fluctuations: Pay attention to the exchange rates on Cleva to determine the best time to convert your USD into Naira and transfer it to your local bank account.
- Better Exchange Rates: Cleva offers better exchange rates compared to traditional banks, so using Cleva can save you money on conversions.
- Avoid Small Withdrawals: Large withdrawals can help you save on transaction fees, as smaller, frequent withdrawals can add up in costs.
Conclusion
Withdrawing funds from PayPal, Upwork, and Payoneer directly into your Cleva account is an efficient way to manage your earnings as a freelancer or remote worker in Nigeria. By following the simple steps outlined in this guide, you can ensure smooth and cost-effective transactions. Cleva not only allows you to receive payments in USD but also gives you access to competitive exchange rates, zero fees for transfers to your local bank, and greater control over your finances.
FAQs
Can I use a Cleva account with PayPal?
Yes, you can link your Cleva USD account to PayPal for efficient and cost-effective withdrawals.
What fees are associated with withdrawing to Cleva?
Cleva charges some fees for deposits, with ACH and wire deposits typically charged at only 0.9%. This makes Cleva one of the most affordable options for managing international payments.
How long does it take to withdraw funds to Cleva?
Withdrawals to Cleva from PayPal, Upwork, or Payoneer typically take 1-3 business days, though same-day processing is possible in some cases.
By following these simple steps, you can manage your international payments with ease, saving both time and money.
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