Current PayPal Exchange Rate in Nigeria @ ₦650+

Send Money from PayPal to Nigeria 2021

Who doesn’t know that PayPal is the most popular mobile wallet out there with millions of users using the platform to send money to family and friends, and for business purposes? 

According to recent data by emarketer, the number of PayPal users worldwide is set to hit 209.3 million in 2022, surpassing 200 million for the first time. This is a 7.2% annual increase from 2021’s 195.2 million. The number covers global internet users aged 14 and above who access their PayPal accounts and/or use the payment service to purchase items at least once a month.

As a Nigerian working online such as a freelancer, web designer, or any digital marketing job, you know one of the frequently used routes to receive payments is via PayPal. 

And if you are into affiliate marketing, most affiliate programs will always opt to pay in Dollars via PayPal.

More so, if you have a friend and family abroad who is willing to send you funds, the most preferred payment route will be PayPal which then poses the challenge of exchanging PayPal money for Naira.

Before we go ahead, let’s check out the best bank cards for PayPal transactions in Nigeria.

Best Bank Cards to Use for PayPal Withdrawal in Nigeria

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Paypal Exchange Rate USD to Naira

One of the frequently asked questions is which Nigerian bank card is the most preferable. From experience, the best 2 bank cards are UBA Afri Dollar-Dominated and UBA Afri Naira-Dominated.

The last preferred which I have used as well is the First Bank Dollar Card. I sha used it once and went all the way with UBA. 🧓🏃

Amongst the 3, I prefer the UBA Dollar Dominated as you get the best and high exchange currency rate for Naira.

I am talking about an exchange rate of over ₦650+/$ – check how it works with fnfSwap.

And between the UBA and First bank cards, I prefer UBA as it is swifter for PayPal to Nigerian Naira transactions.

So, when trying to link your Nigerian Card to your PayPal account, if you want an exchange rate of ₦418/$, use the UBA Naira AFRI card.


If you want a maximum exchange rate of over ₦650/$, get the UBA Dollar AFRI prepared card and work with fnfSwap for the highest exchange rate PLUS instant payments.

Also, going forward, we will recommend another great swap payment option if you are outside of Nigeria where the UBA Dollar Africard is not accessible/possible.

What’s the Current Paypal Exchange Rate Nigeria – Naira to Dollar USD?

The PayPal exchange rate from Dollar to Naira today using the local bank is ₦420/$. The exchange rate goes up to ₦420 and ₦450 with local exchangers, and the best exchange rate goes for over ₦650/$ with fnfSwap by Isuawealthyplace.

How To Exchange and Send Money from PayPal to Naira Bank Account

To send and exchange PayPal to naira you’ll have the choice of whether to send the money to your Bank using the Local Bank Rate via your card, send it to online Exchangers in Nigeria or use the fnfSwap by IsuaWealthyPlace with a high exchange rate to withdraw your PayPal money. 

This method works for those with Business PayPal accounts. And of course, as far as you can link your PayPal to a UBA Dollar Prepared Card and move funds from PayPal into the card, it will work for you.

On the flip side, if you are using a Personal account that can send funds as fnf – family and friends, hang on for your own method.

Let’s start with the best method that gives you an exchange rate of about ₦460/$.

Let’s get started. 

Option 1. Send PayPal Money to Local Bank

The first way to send money from PayPal to Naira is to transfer directly from your PayPal balance, via your linked Nigerian bank card, to your Local Bank account using the bank’s low exchange rate.

This option is quite laborious, as it will entail several steps before the main process. First, you’ll need to link your preferred Nigerian Bank card to PayPal (if you’ve not done so already) and then withdraw the desired funds from PayPal to your bank.

From there, the bank will deposit your money to your Naira account using the official local rate.

Pros of Sending PayPal Money to Local Bank

  • You deal directly with your local bank.
  • You get paid in Naira.

Cons of Sending PayPal Money to Local Bank

  • Not all bank process PayPal card funds.
  • It takes time to set up all the transaction processes.
  • You get paid using the bank’s local and low exchange rate value.
  • Payment can take from 2 to 7 days or more depending on some financial institutions.
  • Not all local bank cards can process PayPal to Naira payment.

The steps to Send PayPal Money to Local Nigeria Bank summary – move funds from your PayPal account balance to your linked Nigerian card, and from there to your bank to be paid in Naira.

Option 2. Send PayPal Money to Local Exchangers

The second way to send money from PayPal to Naira is to transfer directly from your PayPal balance to a Local Nigerian Exchanger of your choice.

Again, you will have to use their low PayPal to Naira exchange rate.

When the money is processed based on agreement and abiding by their terms and conditions, the local exchanger will deposit the equivalent amount to your Naira account using their preferred exchange rate.

Pros of Sending PayPal Money to Local Exchangers

  • You get paid in Naira.
  • You can talk to customer support should you get hooked on the way.
  • Payment can be fast – if no issue arises.

Cons of Sending PayPal Money to Local Exchangers

  • Scammers are on the rise.
  • Not all local exchangers can process PayPal to Naira payments.
  • The PayPal Dollar to Naira exchange rate might be ridiculously low.
  • Payment can take from 1 to 7 days or more depending on some circumstances surrounding the payment process.
  • It takes time to identify a good and trusted exchanger with a track record.

BEST & Fastest Method:

Option 3. Swap PayPal money INSTANTLY to Naira using fnfSwap via Card

How to Swap PayPal Funds for Naira

The third option to transfer money from PayPal to a Nigeria bank account is to use the fnfSwap by

The fnfSwap is a Family and Friends route to help our circle get their stuck money from their PayPal balance to Naira.

The good news is with UBA Dollar Card-to-Card transfers with fnfSwap, you get paid instantly, and if you’re not paid within 15 minutes, you get a $1 apology fee.

Cons of using fnfSwap by isuawealthyplace

  • Funds have to be confirmed before payment in Naira!  
  • We deal with 100% legit PayPal > Dollar money.
  • You’re required to fill your details (once and for all), so we can process your transactions swiftly without asking you over and again, and to guide against the money laundering act.

Pros of using fnfSwap by isuawealthyplace

  • You get paid in Naira instantly.
  • Zero fees or charges of your funds.
  • Payment is made instantly in less than 15 mins immediately after funds confirmation.
  • If payment exceeds 15 mins without receiving it, you get a $1 apology funds – according to our terms.
  • The exchange rate is HIGH – above the local bank rate and money exchangers.
  • Instant Customer Support.
  • Trusted by friends and families.
  • Offers more than PayPal to Naira Exchange.

Good news. We offer more than PayPal to Naira Exchange.

You can fund your Afri Dollar Card with us without going to the bank. So, check with us FIRST before you buy at exorbitant rate from the Black market.

How to Swap PayPal Funds for Naira with fnfSwap by isuawealthyplace.

#1. Transfer the PayPal money via card to us.

#2. Wait for confirmation.

#3. Get paid instantly based on the funds sent.

➡️ Click here to swap your Funds to Naira


NOTE: there is ZERO PayPal charges or fee using our service.

Option 4. Swap PayPal money INSTANTLY to Naira from WISE (Former TransferWise) using fnfSwap

PayPal to Wise inc

The fourth exchange option is to transfer money from PayPal to your Wise (Former TransferWise) and then we swap for Naira at fnfSwap by

Now, if other methods do not work for you, you can use this method without a UBA card or using a local bank at a low-rate exchange. 

How Does PayPal to your Wise work with fnfSwap?

First off, you have to open a WISE Personal Account and link it to PayPal. Then from there, just as you would move funds from PayPal to Africard, instead you select the Wise Bank Account you added to your Account, and move it ASAP.

Note, transfer from PayPal to Wise is from instant to 30 mins or 24+ hours. But it’s usually in few minutes.

The Advantage of Wise against other PayPal to Naira methods

The Wise (Former TransferWise) funds exchange rate is higher than other first 3 methods. The rate is up to ₦690/$.

Step 1. Open a Wise Account and Set it up.

>> Here is a complete guide to opening and setting up a Wise account from Nigeria.

Step 2. Move your Funds from PayPal to Wise

Step 3. Swap for Naira with fnfSwap.  

NOTE: there is ZERO Wise charges or fee using our service.

Get started here: Open a Wise Account + Set upSwap Wise Funds with fnfSwap.

How Much is $100 PayPal in Naira Today?

$100 PayPal in Naira at the local bank is ₦42,000, while with third party local exchangers might go up to ₦45,000 and ₦51,000, however, it is over ₦65,000 with fnfSwap Nigeria.

How Much Does PayPal Charge for Exchange Rate in Nigeria?

When you send and Receive Money for Goods and Services, popularly known as PayPal business account, the PayPal exchange rate naira to dollar is 2.99%. And if Standard Credit and Debit Card Payments 2.99% + fixed fee.

Does Paypal Exchange Rate Change?

Yes, the PayPal exchange rate changes, because the PayPal Foreign Transaction Fee exchange is about 2.5%, and when you send Money to friends or family with eligible PayPal accounts outside the U.S. using your Balance Account balance, the fee charge 5% (minimum $0.99 fee; maximum $4.99 fee).

See recent PayPal Exchange in Nigeria Transactions

At FNFSWAP, you get  the HIGHEST exchange rate in the country. 😉 

Let’s check out various PayPal to Naira exchange rates summary.

How Much is $1,000 PayPal to Naira?

$1000 PayPal to naira

$1,000 PayPal in Naira at the local bank is ₦448,000, while with third party local exchangers might go up to ₦510,000, however, it is over ₦65,000 with fnfSwap Nigeria.

How Much is $500 PayPal in Naira?

$500 PayPal in Naira at the local bank is ₦224,000, while with third party local exchangers might go up to ₦205,000, however, it is over ₦420,000 with fnfSwap Nigeria.

How Much is $200 PayPal in Naira Today?

$200 PayPal in Naira at the local bank is ₦84,000, while with third party local exchangers might go up to ₦90,000 and ₦118,000, however, it is over ₦120,000 with fnfSwap Nigeria.

How Much is $1 PayPal in Naira?

$1 PayPal in Naira at the local bank is ₦448, while with third party local exchangers might go up to ₦501 however, it is over ₦650.

What’s the best way to transfer money from PayPal to Nigeria’s bank Account?

Just as you’ve seen how to transfer money from PayPal to a Nigeria bank account, the best option for you is the route you prefer.

However, at fnfSwap, we recommend you link a dollar card to your PayPal, move then funds there and then transfer it to us to get the maximum market rate for your PayPal funds.

Join freelancers and friends all over Nigeria using fnfSwap by IsuaWealthyPlace to swap their PayPal Money for Naira at over 650/$.

>> Check out fnfSwap

fnfSwap Time of operation

9am to 7:30 pm – Mondays to Saturdays

2pm to 6pm – Sundays.

Frequently Asked Questions About Sending Money from PayPal for Nigerian Naira

PayPal Exchange Rate is the local bank or parallel market exchange value the PayPal Money to the local currency is trading at/for.

When you use PayPal in Nigeria for international transaction, the exchange rate will be charged between 4%-5% percent of the total amount being converted depending on how you pay.

When you use a debit/credit card to pay for your transfer you will be charged up to 2.99%.

The PayPal exchange rate is calculated based on local bank trading rate, 3rd party financial institutions, and based on parallel market conditions. The exchange rate that PayPal then provides you also includes a processing fee above the base rate.

The exchange rate provided by PayPal is may vary for each currency and does not change for small or large amounts.

For instance, if you send PayPal Money to your Nigerian card, you will be charged $5, plus additional 2.99%, and it is different if you were to send funds to family and friends

And should you choose to use the PayPal App to send a payment to a different currency, you will be given the option to use a third-party exchanger service called Xoom, a PayPal Service.

When you send money from PayPal to a Nigerian bank it takes 3 days or more to be processed, and a few days more for your local bank to exchange it for Naira. In total, it might take up to 7 days.

When you send money to other users, it can take 1-3 days before the recipient receives the PayPal money.

However, if you want instant funding, you can use the transfer option which normally would take 3 days as well, but PayPal will process it instantly in 30 minutes or more if there are verification requirements.

It takes minutes to send and receive money between PayPal accounts and 2–3 days from a bank to a PayPal account. It is faster if you are sending the funds via your card linked to PayPal from your local bank.

Yes, you can. To do this, you will have to use a Nigerian, Lesotho South African, Iceland and other Nigerian eligible Business PayPal accounts, else, a personal Nigerian PayPal cannot receive money.

Going forward, if you want to operate e a personal account like the UK and USA in Nigeria, you will have to make use of a good Virtual Private Network (VPN).

  • First, use a valid or a new email address to open a PayPal account.
  • Confirm the email address, and use a strong password.
  • For first-degree verification, link your PayPal account to an approved debit/credit card.
  • For second-degree verification, link a bank account to the account.
  • Withdraw your PayPal funds to your Nigeria bank account or credit card.

Yes, you can. To make your PayPal account valid, you will first of all, link a phone number to the account, confirm your email address, add and link credit/debit cards, and possibly add and confirm a US bank to the PayPal account.

Going forward, you will be asked to provide Proof of Residence, Passport, Identity, and other required documents to remove all forms of limitations

Yes. You can link a Nigerian Card to PayPal. The best and recommended is the UBA Afri Dominated Card. All you need to do is get the card from your preferred Nigerian bank, fund it with a little amount and link it for the verification process.


Yes. You can withdraw PayPal money from your PayPal account without linking any card. All you need to do is transfer to the receiver for Naira.

To convert your PayPal funds to Naira, you’ll need to first move your desired funds from your PayPal balance to the receiver or your PayPal card. From there, you’ll either be paid by the funds’ receiver or via your dollar-dominated card.  

The best card is the UBA Afri dollar-dominated card, the next best is the Afri Naira equivalent and lastly the First Bank’s gold card.

Yes, it is. You can use PayPal in any part of the country, be it in Akwa-Ibom, Abuja, Ondo, etc.

Final Note on Exchanging PayPal Money to Naira

For most of us that depend on PayPal payment via any foreign online business that opts to pay us via PayPal, the best thing is to open and verify our account, receive money and use any of your preferred methods stated above to exchange PayPal to naira, right here in Nigeria.

Should you want to open a PayPal account, I recommend using Lesotho or UAE.

And I also recommend using a business account since it allows PayPal transactions from anywhere with or without a VPN.

That’s all on PayPal exchange to Naira.


  1. David Udofia

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