How to Open a Stripe Account in Nigeria in 2020; A Detailed Guide to open a working stripe account in Nigeria and some unsupported countries in the fastest and easiest way possible.
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- Disclosure: The links in this post are our direct services links, you can buy directly from us but we promise that this will never harm your experience with our website nor will incur additional cost to you.
What made me start thinking of How to Open a Stripe Account in Nigeria in 2020 was the fact that Payoneer was my very first option for online payment processing and collection for a very long time now but just as I was getting happier, everything changed. I was initially of the opinion that I could be left out and so will many other webmasters as we know many Nigerians are doing non-legit businesses online but there are still a few of us doing it in a legit way, Samuel Ebuka Odamah of dopitech.com is quite a good example to say but a few.
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Until recently, Payoneer started to misbehave towards Nigerians and this was a very bad going for me as an internet marketer, and I was sure I did not know what to do about this or better still, how to overcome this issue and still collect my online payments but I got to find a way out.
At least, that’s what webmasters do.
Now…
Did you arrive on this page by any of these keywords below;
- How do I open a stripe account in unsupported country?
- How to Open a Stripe Account in Nigeria in 2020?
- Can a non USA citizen open and verify a stripe account?
- How does stripe account work?
- Where and which country is stripe available?
We have got everything you need to know written down here in this post, so you might want to get relaxed, get a cup of coffee and enjoy our next above 2,000 words as we promise it will worth the read.
The reason for this article is the fact that we are trying to move away from Payoneer and focus more on another payment gateway and processor for our website payments and of course Payoneer is no longer an option to us.
Trust me.
This is where the Stripe came in, but it is not much of an option until it is completely setup and ready to be used.
But…
What is Stripe payment gateway?
The Stripe payment gateway can be seen as an online payment processor for businesses that are registered online but maybe do not choose to make use of the Payoneer to withdraw their funds and that is just it.
The Stripe payment gateway is a fully created payment gateway for maybe dropshipping business or website own generated businesses like selling Ebook and others which is what we do here @Blogincomes.
The Stripe payment gateway helps you accept payment in many establishments such as crowdfunding, online businesses, Ecommerece stores, dropshipping stores and website products selling.
PAY ATTENTION: Do you need up to 1million naira loan to finance your business click HERE
But due to one reason or another which we believe the main reason is the fact that Nigerians tend to be much of scammers online (I am sorry t say), many platforms have shown their backs on us Nigerians and this is why Stripe payment gateway is most regrettably, unavailable to Nigerians, and you could guess what this could mean to a legit business owner in Nigeria here.
The Stripe payment gateway setup is something I would call easy, with fast integration coupled with attractive features and prices which some people do not think it is but we sure do think Stripe is very okay for any business person.
The Stripe payment gateway does not have any activation fee and it is quite easy to set up if you are in the USA or any of the supported countries but that notwithstanding, you will pay a 2.9% + 0.30 cents charge for every successful transaction of goods or products.
We think we have said enough about The Stripe payment gateway.
Now…
Let’s walk you down to what you have to know how to create a stripe account in Nigeria in 2019.
So, let’s start with the first things first…
What countries are not accepted by The Stripe payment gateway?
You will be rather surprised to learn that not only Nigeria is banned from participating in Stripe, but there are also many countries that are banned from ever participating in Stripe until a notice of further use and these countries are;
- Nigeria
- India
- Pakistan
And many more, but for the convenience of read, you can get the full detail here on Stripe website.
Now, lets get down to business;
What are the Requirements to Open a Stripe Account in Nigeria in 2020?
we know we mentioned the fact that Payoneer started to misbehave but that is of course the only way to get a working USA bank account to anchor payments with so you will need it.
PAY ATTENTION: Do you need up to 1million naira loan to finance your business click HERE
Below are what you will need to get started with opening a Stripe account in Nigeria in 2020
- USA Physical Address from Fakenamegenerator.com
- LLC Company Formation
- Payoneer US Bank Account (Make sure you have a working and clear National ID card or an international passport or a valid drivers license before you open up a Payoneer account as they will not verify you if you fail to provide any of these; no voters card pls)
- EIN/Federal Tax ID
Getting started with business REGISTRATION and EIN
To form an LLC Company in US and get your EIN for the sake of this review, we will be using the Incauthority as this is at first free before anything else.
You can choose any of the states to form an LLC in but make sure you are choosing a cheap state like Colorado, or New york.
There are some other states in the USA that will charge you a fortune to keep your LLC with them and this is why you should verify very very well before choosing a state and I cannot do that for you as my preference may not be yours.
Enough of the long talks really, can we get started?
How to form LLC and get EIN at IncAuthority
At IncAuthority, you will form your LLC and get your EIN/TAX ID. Good thing is that it’s easy and takes just few minutes.
Really.
Steps to form LLC and get your EIN in less than 20 minutes.
Go-to IncAuthority.com
At IncAuthority.com, click on the start now for free tab.
Although I do not trust the reviews I read on Trustpilot, I will have to go with this IncAuthority review on trustpilot as they are really doing great.
Select Entity Type and Fill the State you wish having out advice in mind
In your entity type, select (LLC) Limited Liability Company and in the Formation State, select any state of your choice but do have our above advice in mind while doing that.
Click save and then continue.
Fill up your personal details here and click continue
Here, you will fill up your personal details alongside a USA phone number.
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You can get a free USA phone number from an android app called TextPlus and make use of it to get registered and take possible calls.
Enter your business deals and continue
Here, you will have to enter the business deal you want for your business and all that there is to it.
Also choose if your business will be accepting credit cards payments and the kind of LLC you wish to form.
Enter your business details and address and proceed
Here, you will enter your business details just as explained below and proceed to the next stage.
You can make use of Fakenamegenerator and get a business address for yourself that will match your exact needs.
Setup your EIN (Employer Identification Number) and proceed
Here, you will need to setup your EIN and click on proceed to get to the next step.
when done through IncAuthority, you get to spend only $49 for EIN which you and I could guess is the cheapest price around anywhere you can get for such a good service.
You should include EIN federal tax which we consider to be highly important.
Click on save and then next.
The Operating Agreement
the operating agreement could be seen as something important and serious because it acts to provide the proof to the ownership of the said business you are trying to register.
Select the operating agreement and proceed.
The INC protection advisor
You will have to select the INC protection advisor and click on continue
Several other non necessary addons
The next pages contains unnecessary Addons and they include the following:
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- Business License Package – $99
- LawSuit Protection. – $99.
- Express Delivery – $49.
- Domain Name – $29.95
Initiate the final payment
Here you will see a list of compiled payments you will need to make and then proceed with it.
In the end, you’ll only be paying for State Filling Fee, EIN and Operating Agreement.
This service fee could be gotten elsewhere for a very high price but IncAuthority does that for a no fee.
Make payment with any of the convenient payment methods out there.
You can select $0 free delivery (Electronic Delivery) for delivery option and they will be delivered to your email.
And that’s just it.
Setup a stripe account with the details received in your Email
Now you will need to setup a stripe account with the details you got in your email. This details will arrive in your email anywhere between 5-12 days depending on the location you choose and their delivery time frame.
PAY ATTENTION: Do you need up to 1million naira loan to finance your business click HERE
How to Setup a Verified Stripe Account in Nigeria
Now that you have formed your LLC and EIN/Federal Tax ID and they have been delivered to your email, you’ll need to use the details to setup a verified stripe account.
You might want to be extremely careful while doing this as any error could be spotted and you will be terminated.
It once happened to a friend I know.
And also try to be in a place with a very good network coverage and also uninterrupted power supply to avoid loosing your whole efforts.
Now, we can wrap up on How to Open a Stripe Account in Nigeria in 2020
When the guide in this article is strictly followed, you will be able to setup a verified stripe account for your business and receive payments using it.
Also note that you do not need any kind of special tips on how to create a stripe account provided the Tax and EIN details are with your email, you can do that without seeking any help from anyone.
PAY ATTENTION: Do you need up to 1million naira loan to finance your business click HERE
But if you feel you still needed our help with that, we are always open to help you. Just email us @ kennethkabsedo@gmail.com and we will be right on track.