For wey dey hustle online for Nigeria, managing your money well na super important. In dis article, we go compare two popular platforms wey people dey use for international transactions: Grey and Wise. We go look wetin dem get, how dem dey work, and which one fit better serve your freelancing needs.
Wetin Be Grey?
Grey na one online platform wey dey allow you transfer money, receive payment, and also spend money globally without wahala. E dey support multiple currencies and fit help you manage your funds well. If you dey freelance, Grey go make am easy for you to collect payment from clients wey dey abroad.
How to Start Using Grey
- Sign Up: First, you go need to create account for Grey. Just download the app from your app store or visit their website.
- Verification: To fully enjoy all the features, you go need to verify your identity. Dem go ask for your NIN and some other identification.
- Add Your Bank Account: After verification, link your Nigerian bank account. You fit use popular banks like GTBank, UBA, or First Bank.
- Start Receiving Payments: Once you set everything, you fit start to receive payment from your clients without stress.
Wetin Be Wise?
Wise (formerly TransferWise) na another platform wey dey help people transfer money across borders at better rates. E dey very popular because of im transparency and low fees wey e charge. If you dey freelance and you wan collect payment from clients wey dey outside Nigeria, Wise fit be good option for you.
How to Start Using Wise
- Create Account: Just like Grey, you go need to create account for Wise. Visit their website or download the app.
- Identity Verification: Dem go ask for your NIN and other documents wey go help verify your identity.
- Add Your Bank Details: Connect your Nigerian bank account to your Wise account.
- Start Transferring Money: You fit now start to send and receive money from anywhere in the world.
Grey vs Wise: Fees and Exchange Rates
One of the major factors wey go determine wetin platform you go choose na the fees and exchange rates. Both Grey and Wise get their own unique pricing structure.
Grey Fees
- Receiving Payments: Grey no dey charge for receiving payments from clients.
- Withdrawal Fees: When you wan withdraw to your Nigerian bank, dem go charge small fee.
- Exchange Rate: E dey competitive for currency exchange, but e fit vary based on market.
Wise Fees
- Receiving Payments: Wise dey charge small fees for receiving payments.
- Withdrawal Fees: Dem get flat fees for withdrawals to your local bank.
- Exchange Rate: Wise dey use real mid-market rate, so you go see wetin you dey pay clearly.
Transaction Speed and Reliability
When you dey work as freelancer, time na money. You go want platform wey go allow you complete your transactions fast without wahala.
Grey Transaction Speed
Grey dey very fast when e come to receiving payments. Most times, your money go land for your account within minutes. However, withdrawal time fit take 1-3 business days depending on your bank.
Wise Transaction Speed
Wise dey reliable too, but e fit take longer time to complete some transactions, especially if you dey send money to a new recipient. Usually, e go take between 1-2 business days to complete transactions.
Customer Support and User Experience
Customer support na key area wey fit help you solve any issue wey fit arise while you dey use any of these platforms.
Grey Customer Support
Grey get good customer support wey dey available through the app and website. You fit reach dem via chat or email, and dem dey quick to respond.
Wise Customer Support
Wise too get good customer service, but sometimes their response fit take small time. Dem get comprehensive help center wey fit answer most questions wey you fit get.
Conclusion
Both Grey and Wise get their own advantages and disadvantages. If you dey look for fast and easy way to collect money from clients, Grey fit be your best bet. But if you dey need better exchange rates and transparency, Wise fit serve you better. At the end of the day, e depend on wetin you dey look for as freelancer. Just make sure say you do your research well, and choose the one wey go fit help you manage your money well as you dey hustle for abroad.