Are you looking for a way to receive money internationally? Grey foreign bank account (formally Aboki Africa) can help you cover this gap. It enables you to create a foreign virtual account that can accommodate Dollars, British pounds, and euros.
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 get and send money internationally. And it is just an easier means for anyone to create a domiciliary account online with Grey.
Grey foreign virtual bank account is currently only available in Nigeria. You can get 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 ready.
Step 1: Click on Get Started
To open a virtual foreign account on Grey, go to their website. Click on “Get Started,” or follow this link to their Sign Up page.
Step 2: Fill in the required information
On the registration page, fill in the required information. Confirm the details you’ve entered. Finally, click on Create your account.
Step 3: Verify your email
You’ll be sent an email to verify your email. After you’ve successfully verified your email, you’ll need to verify your newly created account by completing your KYC.
How To Verify Grey.co Account
To complete your KYC verification, you’ll need one Government-issued ID. This is an international passport, driver’s license, National ID, or Voter’s card. You will also need your utility bill.
How To Create A Grey Virtual Account
To complete your KYC verification, you must first ask for a virtual account. Then fill in all the required details.
Step 1: Click on the Request account
Sign in to your Grey.co account, scroll down, and click on the Request account. Then select the currency you would like to create a virtual account for.
- US Dollars,(USD),
- British pounds (GBP), and
- EURO (EUR).
Step 2: Upload a Government-issued ID
On the next page, you’ll need to provide any of the Government-issued ID cards. Once you’ve uploaded the image, type in the ID card number, registration, and expiry date. Then click on continue.
Step 3: Filled the request details
On the next page, you will need to fill in your address, city, state, and country. Then upload any of your utility bills to confirm your address. Then tap on Finish.
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
Step 1: Click on Balances
On your Grey dashboard click on Balances from the menu, and all the available currencies will be displayed here. If NGN isn’t available, you’ll have to add it to the Balances by tapping on the Add Balance +.
Step 2: Click on Swap Funds
Once you get funds on any of your virtual foreign currency accounts, you need to select the account. Then, click on Swap Funds to convert the currency to Naira.
How To Withdraw From Grey’s Foreign Account
If you get funds from your virtual foreign account, it will be reflected in the foreign balance.
Then you’ll be able to withdraw to your local bank account. You can do this by converting funds from your USD, EUR, or GBP balance. Alternatively, send from your foreign currency account directly to your domiciliary account.
Step 1: Click on the Withdraw NGN
On your NGN balance, click on the Withdraw NGN button to withdraw your funds to your local bank account.
Step 2: Tap on Withdraw to another account
On the next page, you will be asked to choose a saved account. Alternatively, you can select a withdrawal to a new account. Tap on Withdraw to another account. Enter your local account details, like bank name, account number, and account name.
NGN transactions are done instantly. Delays occur depending on the banking network.
Further Reading
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