Geegpay was a Nigerian fintech app that gave freelancers and creators foreign currency accounts to get paid from abroad. It now operates as Raenest: the geegpay.africa address opens Raenest's site. Raenest offers US dollar, pound and euro accounts, cards and transfers, and says it's a fintech, not a bank.
If you're searching for Geegpay, you've probably heard about it from another Nigerian freelancer or creator, and then found the website looks different. That's because Geegpay now runs under the name Raenest. Here's what that means, what the service does today, and the questions worth asking before you trust it with your dollars.
Geegpay and Raenest: the short version
Visit geegpay.africa today and you land on Raenest's site. Raenest describes itself as built for diaspora communities, global professionals, freelancers, creators and students who need to move money across borders. If you had a Geegpay account, look for the Raenest app and the Raenest brand when you log in or contact support, and be wary of anything still using the old name that asks for your details.
What Raenest offers
| Feature | What Raenest says |
|---|---|
| Foreign accounts | US dollar, pound and euro accounts in your name, plus stablecoin balances, opened in minutes |
| Receiving dollars | US dollar account details that can receive ACH and domestic wire payments |
| Getting paid | Invoicing and payment links for clients |
| Cards | Virtual and physical cards accepted wherever Visa is accepted |
| Sending | Transfers and withdrawals to bank accounts and mobile money |
For a Nigerian creator, the US dollar account is the headline. Raenest lists platforms such as YouTube among the places its users get paid from, as well as global clients.
Who holds your money
This is the part to read before you move big sums. Raenest says plainly that it's a financial technology company and not a bank. On its site:
- Banking services are provided by partner banks and payment partners authorised by regulators including the CBN, FCA and FDIC.
- For its US accounts, banking services are provided by Regent Bank, Member FDIC, and Raenest itself is not FDIC insured.
- FDIC insurance of up to 250,000 dollars per qualified customer account applies on a pass-through basis, only covers the failure of Regent Bank, and only if certain conditions are met.
- The Raenest dollar Visa Card is issued by Rain, a Visa Principal Member.
In plain terms, the protection is tied to the partner bank, not to Raenest as a company. That's normal for fintech apps, but it's not the same as a Nigerian bank account, so keep that in mind if you plan to hold savings there.
Fees: check the schedule
Raenest's own FAQ says fees for incoming transfers are determined case by case and points to its full fee schedule. That's the line to act on. Before you give a client your account details, open the fee schedule, check what a payment of your usual size costs to receive and to convert to naira, and compare it with your other options.
Raenest versus a local bank account
| Raenest | Nigerian bank account | |
|---|---|---|
| Foreign currency details for clients abroad | Yes: dollar, pound and euro accounts | Depends on your bank and account type |
| Who's regulated | Partner banks and payment partners, not Raenest itself | Your bank, directly |
| Card for foreign subscriptions | Virtual and physical Visa cards | Depends on your bank's card limits |
| Best use | Receiving from abroad, then withdrawing | Holding naira savings and everyday spending |
Many freelancers use both: Raenest to get paid, a local bank to keep the money.
Getting started
- Download the Raenest app and sign up with your legal name, a password and the verification code.
- Verify your identity. Raenest says access is instant once verification is complete.
- Open the currency account you need and copy the account details.
- Send a small test payment before giving the details to an important client.
- Read the fee schedule and set up a withdrawal route to your bank or mobile money.
Who it suits
- Nigerian freelancers paid by clients abroad who need account details in dollars, pounds or euros.
- Creators paid by platforms that send money to foreign accounts.
- People who pay for foreign subscriptions and want a card that works wherever Visa does.
It suits people who mainly earn in naira from local clients less; a Nigerian bank account does that job without conversion costs.
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Safety tips
- Only download the app from the official store listing under the Raenest name.
- Never share login codes with anyone claiming to be support.
- Keep your account name identical to your verified ID, so payments aren't held for checks.
- Don't keep all your income in one fintech; withdraw regularly to your local bank.
My verdict
Geegpay lives on as Raenest, and it still does what freelancers liked it for: foreign accounts to get paid from abroad. Understand that it's a fintech backed by partner banks, check the fee schedule for your typical payment, and test with a small amount first. For more ways to earn in Nigeria, see these money-making apps in Nigeria and online jobs in Nigeria that pay weekly.
Frequently asked questions
Is Geegpay still working?
The Geegpay website now opens Raenest's site, and the service operates under the Raenest name.
Is Raenest a bank?
No. Raenest says it's a financial technology company, with banking services provided by partner banks such as Regent Bank, Member FDIC, and other regulated partners.
Can I receive dollars in Nigeria with Raenest?
Raenest offers US dollar account details that can receive ACH and domestic wire payments, as well as GBP and EUR accounts.
What are Raenest's fees for receiving money?
Raenest says incoming transfer fees are determined case by case and refers users to its full fee schedule, so check it before you share your details.
Can creators use Raenest to get paid by YouTube?
Raenest lists YouTube among the platforms its users get paid from, alongside global clients, using its foreign currency account details.
Is my money in Raenest insured?
Raenest says it isn't FDIC insured itself. Pass-through FDIC cover of up to 250,000 dollars applies only to the failure of Regent Bank and only if conditions are met.
