If you’ve been looking for a way to receive money internationally Grey foreign bank account (formally Aboki Africa) can help you cover this gap, as it enables you to create a foreign virtual account that can accommodate Dollar, Britain Pounds, and Euro.
Grey allows you to receive funds internationally and easily convert it to Naira. You can send it to your bank account, or transfer USD directly to your domiciliary account.
What Is Grey
Grey is a financial technology app that allows users to create virtual foreign accounts that receive and send money internationally. And it is just an easier means for anyone to create a domiciliary account online with Grey.
As of now, Grey foreign virtual bank account is only available in Nigeria, and you can receive funds internationally and withdraw them to your bank account. In due time it will be rolling over to more African countries.
How To Create An Account On Grey
If you’re a Nigerian, you can open an account on Grey and receive money internationally. All you need is your documents and you’re good to go.
2. On the registration page, fill in the required information and confirm the details you’ve entered, then click on Create your account.
3. You’ll be sent an email to verify your email. After you’ve successfully verified your email you’ll need need to verify your newly created account by completing your KYC.
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How To Verify Grey.co Account
To complete your KYC verification you’ll need one of the Government-issued IDs; an International passport, Driver’s license, National ID, or a Voter’s card and of course your utility bill.
How To Create A Grey Virtual Account
To complete your KYC verification you have to request a virtual account and fill in all the required details, to begin with.
1. Sign in to your Grey.co account, scroll down and click on Request account. Then select the currency you would like to create a virtual account for.
- US Dollars,(USD),
- British pounds (GBP), and
- EURO (EUR).
2. On the next page you’ll need to submit any of the Government-issued ID cards, once you’ve uploaded the image, type in the ID card number, registration, and expiry date and click on continue.
3. On the next page, you will be required to fill in your address, city, state, and country, then upload any of your utility bills to confirm your address. Then tap on Finish.
4. Once you’ve successfully submitted your documents to complete the KYC verification, you will be redirected to your account dashboard.
After you’ve requested a virtual account you’ll need to wait three days or more for the account to be ready.
How To Convert Funds From Foreign Currency To Naira
1. On your Grey dashboard click on Balances from the menu, and all the available currencies I’ll be displayed here. If NGN isn’t available, you’ll have to add it to the Balances by tapping on the Add Balance +.
2. Once you receive funds on any of your virtual foreign currency accounts, you’ll have to select it and click on Swap Funds to convert the currency to Naira.
How To Withdraw From Grey’s Foreign Account
If you receive funds to your virtual foreign account, it would be reflected in the foreign balance.
Then you’ll be able to withdraw to your local bank account by converting funds from your USD, EUR, GBP balance, or sending from your foreign currency account directly to your domiciliary account.
1. On your NGN balance click on the Withdraw NGN button to withdraw your funds to your local bank account.
2. On the next page, you will ask to choose between a saved account or withdrawal to a new account. Tap on Withdraw to another account and enter your local account details such as bank name, account number, and account name.
NGN transactions are done instantly. Delays may occur depending on the banking network.
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