YouTube has become a platform that offers opportunities for people in Nigeria to earn money. But how exactly does YouTube pay its content creators in Nigeria? In this article, we will break down the payment process step by step. I am able to talk about this topic by virtue of having a monetized YouTube channel and having personally gone through the process of receiving payment both from Youtube and from blogs.
1. Creating a Domiciliary Account
What is a Domiciliary Account?
To receive payments from YouTube, you need a domiciliary account. This is a specialized account for handling foreign currency transactions. You might have heard people talk about the DOM Account, this is what they mean and it allows you to perform all transactions in dollars as you can also easily obtain a card from the bank. Talking about card for a Dom account. I was charged $15 by UBA for my dollar based card, so keep in mind that the card is not free but it frees you from the headache of exchange rate.
Opening a Domiciliary Account
The process of opening a domiciliary account with most banks in Nigeria is straightforward as most banks are often open to showing it to you. However, the key hurdle you’ll face is the requirement for two references. These references can be individuals or companies with current accounts at the same bank and usually. Depending on your bank, these references might or might not have an account with the bank you intend to open the account with. This step is crucial for establishing your credibility.
2. Linking Your Domiciliary Account to YouTube
Connecting Your Account
Once you’ve successfully opened a domiciliary account, you can link it to your YouTube channel. This is the crucial step that allows YouTube to pay you directly into your account. You can do this from your adsense dashboard, it is usually a seamless process, however, you will need to fill in a few things other than just your account number but your bank will provide those things.
Minimum Payment Threshold
YouTube has a minimum payment threshold. You will receive your earnings when your account accumulates at least a hundred dollars. This means that as long as you have made at least $100 in a month, youtube will deduct tax from your money and pay the amount into your DOM account.
3. Receiving and Using Your Earnings
When your YouTube earnings reach the minimum threshold, YouTube will initiate the payment process, they will send you an email around the 20th of each month that they have started the process of sending your money and the funds will be transferred to your domiciliary account in less than 5 days after you receive that email.
You can walk into your bank branch and request your earnings. The bank will provide you with the equivalent amount in US dollars.
You have the flexibility to use your earnings as you see fit. Whether you want to exchange them for local currency, make online purchases, pay for services, or send money to others, having a domiciliary account provides you with options.
Conclusion
In summary, to get paid by YouTube in Nigeria, you need to create a domiciliary account, link it to your YouTube channel, and reach the minimum payment threshold of a hundred dollars. This process ensures that you can access your earnings easily and use them for various purposes.
Receiving YouTube payments in Nigeria doesn’t have to be complicated. By following these steps and having a domiciliary account, you can start earning money through your content on YouTube. Thank you for reading!
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.