How to get paid from Amazon KDP in Nigeria may have been a challenge for Nigerians before now, but it’s no longer a problem because this post will show you the best options so far. Amazon KDP is a business model associated with book self-publishing, where independent authors or writers leverage to earn royalties on their books.
As such, writers can upload 15 to 20 pages of Microsoft Word documents, epub, or Rich Text Format to Amazon for its 300 million users to have access.
Be that as it may, in this post, we will briefly disclose a guide on how to get paid your royalties in Amazon KDP without any obstruction. Let’s get started properly!
In essence, before receiving your payment from Amazon, you must have a US, UK, or EU bank account. That is to say, you are not permitted to submit your local bank account details except the above-stated ones.
Therefore, we have two options for you to get paid in this post, and they are listed below:
The two options above are great, to begin with, but they also have their unique challenges. We will be going through these platforms very briefly to give you an insight, and then get started with whichever one works for you.
How To Get Paid From Amazon KDP In Nigeria
2 Payment Platforms To Receive Amazon KDP Royalties In Nigeria
Payoneer Global Inc is an online payment platform or financial service company originating in America. It provides a safe haven for financial transactions such as money transfers, digital payment services, and online bank portals for freelancers (where they receive their payment for jobs done).
Using Payoneer is safe and awesome to receive payment from international companies if you don’t have a domiciliary account (dollar account) as a Nigerian. However, there are two disadvantages you may battle with; these are the dollar exchange rate and documents.
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Payoneer’s exchange rate per dollar is between ₦400 – ₦410 and the platform only allows a Driver’s License and International Passport. These, however, may not be a challenge for some Nigerians, but what about those that may not be able to afford these documents or even have the patience to wait for them to be processed before receiving their earnings from Amazon KDP?
Moreso apart from that Payoneer is very secure and highly recommended as one of the best platforms to get paid your royalties. Also, note that the minimum amount to withdraw from Payoneer is $50!
How To Get Started With Payoneer
- Go to Payoneer.com and register
- Enter your details as required by the financial company
- Then follow the full steps here to get your account set up
Grey.co is a global standard financial company that helps entrepreneurs online, freelancers, internet marketers, etc to receive payments from anywhere in the world.
The most beautiful part of this platform is the aspect where Nigerians are allowed to convert their money to the Naira currency at a black-market price and withdraw to their local bank accounts which are credited in less than 5 minutes!
Grey.co provides US, UK, and EUR virtual accounts so that individuals like you and I can have a variety of foreign currencies to choose from. I don’t mean to sound biased, but using Grey gives me more joy than Payoneer because of how they designed the platform with an average individual in mind!
Now, Grey has the most attractive black-market price for US dollars, UK pounds, and EUR euros. As of the time of writing this post; 1 USD = ₦710, 1 GBP = ₦785, and 1 EUR = ₦690, you get the point now? And the platform has the lowest fees ever online! For Me, I believe Grey is the best to receive Amazon KDP royalties with for Nigerians.
Furthermore, Grey gives its users the option to submit any document ranging from National Identity Card, Voter’s Card, NIN Slip, Digital NIN Slip, International Passport, and Driver’s License. And your documents and account approval do not take up to 3 hours, when I did mine it was instant!
Moreover, when you apply for any of the virtual accounts (Dollars, Pounds, or Euros), it doesn’t take up to 24 hours to get your foreign bank account open. The minimum amount to withdraw from Grey.co is ₦5,000, and the minimum amount of dollars to convert to Naira is $1 including other foreign currencies.
How To Get Started With Grey.co
- First https://app.grey.co/auth/register and start your registration
- Enter your First Name
- Enter your Last Name
- Your active Phone Number
- Enter your active Email Address
- Choose a strong and secure Password
- Enter this Referral Code: 9D6QEM
- Click on Create Account
- Go to your email (the one you provided) and click on the link sent to you in order to verify your account
- Go back and login to your Grey account (you can download the app for easy access)
- Click on “Complete Verification”
- You will see a page where it says, “Upload Photos Of Documents Providing Your Identity” and “Record a Short Selfie Video”
- Click on “Start” and allow access to your camera
- Pick your Country
- Upload the front side of your document and back side as well
- Record your selfie with the platform’s camera via your smartphone
- Then submit and wait for approval
Step 2: Applying For US, UK, And EUR Bank Accounts On Grey.co:
- Login to your account after your documents have been accepted and your account verified
- Click on the three horizontal lines on the homepage
- Navigate to where you see “Accounts” and click on it
- Click on “Request USD Account” (this command applies to all others)
- Fill in your first name and last name
- Choose your country
- Select the document you wish to upload
- Enter your date of birth
- Enter the number of your document
- Indicate the date it was issued
- Indicate the date it will expire
- Enter your occupation
- Mention the purpose of your account (of course it is to receive payment from Amazon KDP)
- The click on “Continue”
- Enter your address
- Enter your postal code
- Enter your state
- Enter your city
- Upload your utility bill (Nepa bill)
- Then click on “Finish” and also hit on “Back To Balances”
- Voila! It’s as easy as that!
Once your foreign bank account is created officially, you will be notified via email that it’s ready to start receiving money from anywhere in the world. The next thing to do is to go back to your accounts, select the currency you want to get paid, get the bank account details and fix it in your Amazon KDP payment, and you are good to go!
I believe you would get some value from this guide. If you come across any challenges along the way, kindly drop a comment or contact us via the WhatsApp button located on the left side of this blog. Please this post, thank you!
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