Can you Receive Dollars on Flutterwave: Welcome to TeezabTech.com.ng, your go-to source for all things tech-related! Today, we’re tackling a question that’s on the minds of many: Can you receive dollars on Flutterwave?
Flutterwave, a leading financial technology company, has been instrumental in simplifying online payments, but there’s still some uncertainty about its capabilities when it comes to receiving foreign currency.
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In this post, we’ll explore whether Flutterwave supports dollar transactions, how it works, and what this means for individuals and businesses looking to receive payments in dollars.
Understanding Flutterwave
Before we dive into whether you can receive dollars on Flutterwave, let’s first understand what Flutterwave is all about.
Flutterwave is a financial technology company that provides payment solutions for businesses and individuals across Africa and beyond.
Founded in 2016, Flutterwave has gained recognition for its innovative approach to online payments, offering a wide range of services to facilitate seamless transactions.
Can You Receive Dollars on Flutterwave?
Yes, you can indeed receive dollars on Flutterwave.
Flutterwave supports multiple currencies, including the US dollar (USD), allowing businesses and individuals to receive payments in dollars from customers and clients around the world.
Whether you’re an e-commerce retailer selling products internationally or a freelancer providing services to clients overseas, Flutterwave makes it easy to receive payments in dollars securely and conveniently.
Don’t go yet, you might find the article below informative as well!
Transfers via USD Cash Pickup in Nigeria
What is the USD Cash Pickup option on Flutterwave?
The USD Cash Pickup option lets recipients physically pick up cash from a nearby location across the country.
Just a heads-up: You can only collect cash in USD, following the rules of the Central Bank of Nigeria (CBN).
How do I initiate a USD Cash Pickup transaction to Nigeria on Flutterwave?
Please follow these steps to initiate a USD Cash Pick-Up Transfer to Nigeria
- Log into your Flutterwave Dashboard
- Click Transfers
- Click New Transfer, and then select Transfer to USD Cash Pickup
- Select the balance you wish to initiate the transfer from (USD/GBP/EUR etc…)
- Input Amount (note: the minimum transfer amount is $10; the maximum amount is $10,000)
- Select the Recipient Country i.e Nigeria
- Select the pickup bank name (UBA/ Zenith Bank/ FCMB/ Polaris Bank / Fidelity Bank / Wema Bank / Globus Bank)
- Enter the Recipient’s details (such as Recipient’s full name as displayed on a valid ID, residential address, phone number, and email address). This is required for notification once the funds are available for pickup.
- Click continue and review the transaction summary before completing the transaction.
- Once completed, the transaction would be initiated and should become available in minutes.
Note:
- Flutterwave merchants who have 2FA enabled during a transfer would be required to input their OTP code to complete the transfer.
- A transaction fee of $2 applies.
- The transaction will be available for pick-up within minutes. Please ensure the information filled is accurate and the recipient’s name matches the name on a valid means of ID.
- A Unique Reference Code Will be generated and sent to the sender to be shared with the recipient. This is very important to ensure smooth pickup by the recipient.
How will the recipient know the funds are available for pickup via Flutterwave?
Once the cash is available for pickup, you and the recipient will be notified via Email & SMS including directions to the nearest pick-up location (UBA/ Zenith Bank/ FCMB/ Polaris Bank / Fidelity Bank / Wema Bank / Globus Bank).
Please ensure the email address and phone number provided during the transaction is accurate.
What information is required before I can transfer via USD cash pickup?
- Recipient Name: Please provide the recipient’s full legal name and ensure it matches the recipient’s valid means of Identification.
- Recipient residential address
- Phone number
- Email Address
What information is a recipient required to provide for cash pickup?
The recipient will have to provide the following information at the pickup location:
- Sender’s name
- Reference number/Unique Reference Code
- Valid means of ID [this could be either an International Passport, Permanent Voter’s Card (PVC), Bank Verification Number (BVN), Driver’s License & National Identity Management Commission card (NIMC)]
- Relationship with Sender
How can a recipient pick up cash?
Flutterwave will notify recipients via email and SMS about funds available for pickup. This notification will contain details of the transaction including the amount and pickup bank. Once the recipient is notified, they may proceed to pick up cash with the following steps:
- Visit any of our bank pickup branches closest to you. Find the nearest branch here: UBA/ Zenith Bank/ FCMB/ Polaris Bank / Fidelity Bank / Wema Bank / Globus Bank.
- Note: Recipients do not need to have an account with the bank to pick up cash.
- Present the Email/SMS notification received from Flutterwave then tender the reference code (shared by the sender) to the bank representative.
- The recipient needs to verify identity using a valid ID.
- Once ID is verified, funds will be disbursed for cash pickup instantly,
- Note: Recipients must have their mobile phone handy for seamless cash pickup at the various locations. Recipients should also ensure the Unique Reference Code For the transaction is obtained from the sender to enable smooth pickup.
Frequently Asked Questions – FAQs
Can I receive dollars on Flutterwave?
Yes, Flutterwave supports dollar transactions, allowing businesses and individuals to receive payments in dollars from customers and clients around the world.
Can I convert received dollars into local currency on Flutterwave?
Yes, Flutterwave offers currency conversion services, allowing businesses and individuals to convert received dollars into their local currency if necessary.
Can a recipient pickup cash in Naira, Euros or Pound sterling?
No, the cash can only be collected in US Dollars (USD) in line with CBN directives.
Does the recipient need to create an account on Flutterwave to receive the cash?
No, the recipient does not need to have a Flutterwave/Bank account to access or collect cash.
What is the minimum and maximum amount that can be sent/received via USD Cash PickUp?
You can send a minimum of $10 and a maximum of $10,000 per transfer. However, please note that transfers above $2,000 would require extra verification in line with global laws to improve transaction safety which would solely be at the discretion of our bank partners.
What’s the transfer charge for money sent via Flutterwave USD Cash Pickup?
You will be charged $2 for every transfer.
When will the funds sent be ready for pickup?
The funds will be available for pickup within minutes once the sender completes the transaction.
Why is my transfer rounded to the nearest USD?
Due to recent updates by the Central Bank of Nigeria, recipients can only collect funds in USD. This means funds sent will be rounded to the nearest dollar. We recommend that you always send an actual amount and notify your recipient of this to avoid misunderstanding at the pickup location.
For example, Flutterwave will round up $200.30 to $200.
How can I cancel a transfer via USD Cash Pickup?
Please send an email with transaction information to enable Flutterwave support to review, and possibly assist you.
Can a recipient exchange USD for Naira at the cash pickup location?
Please note that Flutterwave does not provide currency exchange services. However, recipients can enquire at the pickup location from the bank representative after collecting the cash.
Is it safe to receive dollars on Flutterwave?
Yes, Flutterwave prioritizes security and employs robust security measures to protect transactions and user information, ensuring that receiving dollars on Flutterwave is safe and secure.
TeezabTech Conclusion on Can you Receive Dollars on Flutterwave
In conclusion, Flutterwave enables businesses and individuals to receive dollars securely and conveniently, opening up opportunities for international transactions and expanding global reach.
Whether you’re an e-commerce retailer selling products worldwide or a freelancer providing services to clients overseas, Flutterwave’s support for dollar transactions makes it easy to receive payments in dollars and access your funds promptly.
If you have any questions regarding this post simply leave us a comment in the comment box below and we will get back to you as soon as possible! Thanks for stopping by!
See Also:
- Which Countries Accept Flutterwave Payment
- Does Flutterwave Work in USA
- Is Flutterwave a PayPal
- Does Flutterwave accept NIN Slip
- is Flutterwave Legit or Scam
Meet Tiamiyu AbdulBazeet Olawale, popularly known as Teezab, a blogger who loves writing about tech, education, cryptocurrency, telecoms, and finance. He studied Electrical and Electronics Engineering at the University of Ilorin. With his mix of tech skills and creativity, Tiamiyu aims to share useful info in a fun way that everyone can enjoy.