Flutterwave's Nigeria page lists local payments at 2% per transaction and international ones at 4.8%, with local money arriving the next day. Starter accounts for unregistered businesses need the owner's BVN and NIN. The catch is that Flutterwave says transaction limits apply by account type, and its pricing page doesn't give the figures.
Flutterwave is probably the second name you'll hear after Paystack when you start taking payments in Nigeria. I've read its Nigeria pricing page and its onboarding page for Nigerian accounts, and the most useful part is how it handles people who aren't registered companies yet. If that's you, the Starter account is the thing to understand first.
Starter accounts for unregistered businesses
Flutterwave's Nigeria onboarding page says you can create Starter accounts for unregistered businesses, Registered Business accounts, or Other Entity accounts. For a Starter account it asks for a website or social media page, a residential address with proof of address, estimated monthly sales, a business profile describing what you do, and valid ID.
The Nigerian detail is the identity numbers. It asks for the Bank Verification Number and the National Identification Number of the account owner, and it lists an electricity meter number as the proof of residential address. If you don't have a NIN slip to hand, sort that out before you start.
What the 2% local rate is made of
The pricing page lists local transactions across all payment methods at 2% per transaction. It then breaks that down as a 1.4% transaction fee plus a 0.6% platform fee. International transactions are listed at 4.8% per transaction.
Keep in mind that a headline percentage tells you the rate, not the total, because it doesn't show what an actual sale costs after any limits or taxes. Flutterwave's page also says by default your customers bear the transaction charges, and that you can change this on your dashboard. Decide whether you want to absorb the fee or pass it on, because it changes what your customer sees at checkout.
| What I checked | What Flutterwave says for Nigeria |
|---|---|
| Local transactions | 2% per transaction, split as 1.4% plus 0.6% |
| International transactions | 4.8% per transaction |
| Local settlement | The next day |
| Starter account ID numbers | BVN and NIN of the account owner |
| Other Entity accounts | Need a SCUML Certificate among other documents |
When the money arrives, and what limits apply
Flutterwave says you receive your money the next day for local payments. International payment timing, it says, varies depending on your region. It doesn't commit to a single timing for payments from abroad, so don't promise an overseas client one.
It also says transaction limits apply to the different types of accounts. The page doesn't say what the limits are, which matters if you plan to grow quickly. Ask Flutterwave which limit applies to your account type, and whether a Registered account raises it.
Transfers out: three price tiers
Flutterwave lists transfers to bank accounts and mobile money in tiers. Transfers at 5,000 naira and below cost 10 naira each, those from 5,001 to 50,000 naira cost 25 naira each, and anything above 50,000 naira costs 50 naira each.
If you pay people regularly, notice that the price rises with the size of the transfer, not with the number of people you pay. Batch your payments with that in mind.
Documents for sole proprietors and companies
Beyond Starter accounts, the page lists what a sole proprietorship needs: a CAC certificate and business name certificate, a verifiable website or social media page, an estimated monthly sales figure, the proprietor's BVN and NIN, an operating licence where the business is regulated, and a residential address with an electricity meter number.
A limited liability company needs its certificate of incorporation and memorandum and articles of association, plus the NIN and BVN of the business representative, with ID for all shareholders and directors. Flutterwave also says the expiry date on identity documents should not be 6 months later than the day you create the account, so check yours before uploading.
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- Work out which account type fits you: Starter, Registered or Other Entity.
- Gather your BVN, NIN and a clear copy of your ID.
- Find your electricity meter number for the address proof.
- Write a plain business profile and estimate your monthly sales.
- Check that no ID document is close to expiring.
What I'd check before relying on it
A pricing page can't answer everything, so there are a few things I'd confirm in writing. First, which limits sit on the account type you'll start with, since the page only says limits exist. Second, how the platform fee is shown on your statements, because the split between the transaction fee and the platform fee may matter when you do your bookkeeping. Third, what happens to a payment that fails or is queried, since the page is silent on that.
None of this is a criticism. Every provider leaves these questions to its support team. The point is that you're better off asking before you've built a customer base on top of one tool. Screenshot the pricing page on the day you sign up, too, so you can show what it said then if figures change later.
Comparing it with other routes
If you're comparing providers, read what Paystack says for Nigeria next to this, and compare the written rates rather than reputation. For foreign clients paying you, Payoneer for Nigerians and PayPal in Nigeria answer a different question.
Never buy or borrow a verified account. Flutterwave's whole onboarding is about linking an account to a real, identified owner, and as always, ask a local accountant about tax on what you earn.
Frequently asked questions
What does Flutterwave charge for local payments in Nigeria?
Flutterwave's Nigeria pricing page lists 2% per transaction for local payments across all methods, made up of a 1.4% transaction fee plus a 0.6% platform fee.
What does Flutterwave charge for international payments?
Flutterwave lists 4.8% per transaction for international transactions, charged and settled in your local currency by default.
Can I open a Flutterwave account in Nigeria without a registered company?
Flutterwave's Nigeria onboarding page says you can create a Starter account for an unregistered business, using the owner's BVN and NIN plus an address proof.
How quickly does Flutterwave pay out in Nigeria?
Flutterwave says you receive your money the next day for local payments. International payment timing varies depending on your region.
Who pays the transaction charge?
Flutterwave says by default your customers bear the transaction charges, and you can change this on your dashboard.
