YouTube is undoubtedly the world’s largest video platform, offering content creators an opportunity to monetize their videos. However, the process of receiving these earnings in Nigeria is not always straightforward. In this guide, we’ll walk you through the steps to get your YouTube revenue directly into your Nigerian bank account.
Payment Methods on YouTube
YouTube offers various payment methods, which may differ from country to country. For example, in Canada and the United States, creators can receive their earnings via check. However, this method isn’t universally convenient, given that postal services vary in quality and not all countries have U.S. dollar-based accounts readily available.
Receiving YouTube Payments in Nigeria
In Nigeria, it is indeed possible to have your YouTube earnings deposited directly into your bank account. Here’s how you can do it:
Opening a Domiciliary Account
To get started, you’ll need to open a domiciliary account in Nigeria. This special account allows you to hold foreign currencies like U.S. dollars.
If you have connections within a bank, you might be able to expedite the account-opening process. Alternatively, for the majority of individuals, opening a domiciliary account typically involves providing two references from individuals who already have current accounts.
Linking Your YouTube Earnings to the Domiciliary Account
Once your domiciliary account is set up, you can link it to your YouTube AdSense account. When you reach the minimum payment threshold (usually $100), YouTube can transfer your earnings directly into this account.
Withdrawing Your Funds
To withdraw your earnings, visit your bank and fill out a withdrawal slip specifying the amount you wish to take out.
Nigerian banks often pay out the funds in cash, provided they have the necessary amount. In cases where they don’t have enough dollars, you can visit a local currency exchange (Aboki) to convert the funds back into Naira.
Alternatively, you can transfer the funds from your domiciliary account to another person who also has a U.S. dollar domiciliary account. They can then transfer the equivalent amount in Naira back to you.
Conclusion
In Nigeria, it is entirely possible to receive your YouTube earnings directly into your bank account. While the process may involve some initial setup and documentation, it’s a viable option for content creators in the country. Keep in mind that YouTube’s payment methods and policies may change over time, so staying informed about the latest updates is advisable.
Author
Abbey Johnson has a Masters degree as an engineer and has over 3 years of teaching and research experience. He is happiest when on a bike and is also interested in electric energy and computer Science.