Cleva is a fintech for Nigerians and the Nigerian diaspora. It gives you US dollar, pound and euro accounts in your name, a virtual card and dollar savings, and lets people in the US send money to Nigeria within minutes. Its Nigerian payouts run through a CBN-licensed money transfer operator.
Cleva comes up whenever Nigerian freelancers and creators compare ways to get paid in dollars. Its homepage now leads with sending money home from the US, which confuses people looking for a receiving account. The answer is that Cleva does both. Here's what it offers, who's licensed to do what, and what to check before you use it.
What Cleva offers
| Product | What Cleva says it does |
|---|---|
| Multi-currency account | A US dollar, pound and euro account in your name |
| Virtual card | Shop online anywhere |
| dollar savings | Save in dollars and earn up to 3% a year in dollar rewards |
| Sending home | Dollars to local currency, delivered to a recipient in minutes |
| Bills (VAS) | Buy data and electricity for family in Nigeria, saving 3% on data and 1% on electricity |
| Cleva Points | Earned on eligible transfers, redeemable as dollars or moved to a Cleva Pot |
For freelancers and creators, the multi-currency account is the part that matters. For family in the US sending money to Nigeria, it's the transfer and bill features.
Two audiences, one app
Cleva's homepage is written for people in the US: top up with a US debit card for free, or with stablecoin balances, then send to someone in Nigeria. Its product menu also lists the multi-currency account in your name, the card and dollar savings, which is what people earning from abroad look for. If you're in Nigeria and want to receive client payments, go straight to the multi-currency account and ignore the remittance pitch.
Who's licensed for what
This is worth understanding, because it tells you who's responsible for your money at each step. From Cleva's own site:
- Cleva Technologies Inc. is a financial technology company. Payment processing and money transfer services are provided by licensed payment partners.
- Cleva Payments Inc. is a Money Services Business registered with FinCEN and licensed as a money transmitter (NMLS #2665667) in various US states.
- Nigerian payouts are powered by Afrisurge Technologies Limited, a CBN-licensed International Money Transfer Operator.
You can check the US licences yourself on NMLS Consumer Access using that number. It's a good habit with any fintech.
Questions to answer before you rely on it
Cleva's FAQ lists the right questions, though the answers sit behind each heading, so open them in the app or on the site before you commit:
- What are the fees for US dollar, pound and euro deposits?
- Is there a minimum deposit you can receive?
- How long do funds take to land?
- Which countries are supported?
- What does it cost to convert from dollars and pay out?
- Can you receive funds from outside the US?
The last one matters most if your clients are in the UK or Europe. Don't assume; check, then test with a small payment.
Cleva for creators and freelancers
If you're paid by clients abroad, the multi-currency account gives you account details in your own name, which looks more professional on an invoice than asking a client to pay a friend's account. Cleva's menu also mentions an influencer programme that pays creators to make content for Cleva, and business accounts if you've registered a company. Whatever you use it for, keep records of every payment you receive, because your tax adviser will want them.
The savings rate, read carefully
Up to 3% a year in dollar rewards on dollar savings sounds attractive. Note the wording: up to, and rewards. Read the terms for how the rate is earned and paid before treating it like a bank deposit rate.
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Cleva or Raenest?
Both are fintechs serving Nigerians who earn or send across borders, and both rely on licensed partners rather than being banks themselves. Cleva's homepage leans towards people in the US sending money home, with bill payments and points; Raenest leans towards freelancers and creators receiving money. If you're choosing, compare the two on the things that decide your costs: the fee to receive your typical payment, the rate when you convert to naira, and how quickly money reaches your local bank. Test both with small amounts before you commit.
Getting started
- Sign up and complete KYC verification with your ID.
- Open the multi-currency account and note your account details.
- Ask a friendly client to send a small test payment.
- Check the deposit and conversion fees on that test before using it for larger invoices.
- Set up how you'll move money to your Nigerian bank.
If something goes wrong, Cleva lists [email protected], and offices in San Francisco, Beaverton in Oregon, and Anthony Village in Lagos.
My verdict
Cleva is a credible option for Nigerians who need foreign accounts or fast transfers home, with licensed partners named on its own site. Read the fee answers for your exact use, test small, and don't keep more there than you need. For more ways to earn, see money-making apps in Nigeria and my guide to finding remote clients.
Frequently asked questions
What is Cleva used for?
Receiving money in US dollar, pound and euro accounts, spending with a virtual card, saving in dollars, and sending money from the US to Nigeria within minutes.
Is Cleva licensed?
Cleva Payments Inc. is registered with FinCEN and licensed as a money transmitter (NMLS #2665667) in various states, and its Nigerian payouts run through Afrisurge Technologies Limited, a CBN-licensed IMTO.
Can I get a US dollar account in Nigeria with Cleva?
Cleva lists a multi-currency account giving you a US dollar, pound and euro account in your name.
How much interest does Cleva pay on dollar savings?
Cleva says you can earn up to 3% per annum in dollar rewards on dollar savings. Read the terms for how it's calculated.
How do I contact Cleva?
By email at [email protected]. Cleva also lists offices in the US and in Lagos.
