On this page, I’ll explain to you the basic steps on how to create a Grey virtual Foreign Bank Account in Nigeria, verified it and send, receive and convert money.
I’ll also explain to you in details how to verify this Virtual Foreign Accounts and how you can use it for foreign transactions. Meanwhile, everything you need to know about virtual foreign accounts and receiving payments from abroad are all here. Carefully read through and see them all. But Before that, you must what Grey is all about.
What is Grey
Grey is a Foreign Bank Accounts for Africans. A platform that provides digital foreign accounts, which allow individuals/businesses to receive money from abroad instantly with virtual IBANs and virtual account details.
How to create a grey virtual Foreign Bank Account in Nigeria
Create victual foreign account to receive payments, send funds abroad and convert between currencies all in one place. To get your grey account up and running, you have to follow up the process below;
Create Grey Account
Signing up/creating your Grey account. Here’s a step by step guide to creating your Grey account.
- Log on to grey.co
- Click on sign up
- Complete the form on the sign up page: fill in your first name, last name, phone number. email address and password. (Ensure to use a strong password)
- Click on “Create your account”
NOTE: If you already have an Grey account. Click Sign in.
Now that you have successfully created your account. Next up is verifying your email, learn how to verify your email below;
How to verify your email.
To verify your account, A verification mail; is sent to the email you provided once you have successfully created an account.
- Kindly log in to the email address you created an account with on Grey.
- You will receive verification message from Grey: If you didn’t receive an email to your INBOX, please check your PROMOTIONS, UPDATES or SPAM FOLDER.
- click on “verify email”
- You would be redirected to the sign-in page with a successful notification.
- Sign in to access your account.
NOTE: If you didn’t receive a verification mail from Grey, click the resend verification link, the email would be resent to you.
Now that You have successfully completed email Verification; next up is verifying your identity. Check below
How to complete your KYC
After successfully creating your account and verifying your email, you’ll need to verify your identity. Before you can make a transaction on Grey, it is expected that you must have completed your KYC to checkmate fraud.
Here’s a guide to completing your KYC verification:
- Sign in to your account after you have verified your email.
- On the home page, click on “Complete verification” button.
- You’ll be redirected to the KYC verification portal, do ensure to follow the prompts.
- You are required to upload the following : An image of your Valid Government-Issued ID (Driver’s license, national ID card, or International passport). A photo of your original valid ID is required ✅ and not a copy (Scanned/Photocopy). ❌
- A short video of your face.
RULES FOR DOCUMENT AND SELFIE VIDEO UPLOAD
- A photo of your original valid ID is required ✅ and not a copy of it (Scanned/Photocopy). ❌
- All four corners of your ID should be visible.
- All details on your ID should be clear and legible, any missing details renders the document invalid, turn off your flash to avoid any glare on the document.
- Edited and altered documents are not supported.
- The person on the ID must match with the video selfie.
- The details on the ID must match your Grey account.
- Take the video in a well light room and ensure your face is clear in the video.
- Once you have completed the process, you’ll be redirected to a successful page.
Your KYC would be reviewed, and you would receive a successful mail once verified. Please note that KYC is verified within 24hrs.
Once your KYC is verified, you would be able to create virtual foreign accounts in our supported currencies or convert funds.
Virtual Foreign Accounts
Everything you need to know about virtual foreign accounts and receiving payments from abroad. But first you need to Understand what the grey Virtual Bank Accounts is all about here.
How to Create a Grey Virtual Account in Nigeria
Here’s a step by step guide to creating virtual accounts;
- Log in to your Grey account, If you do not have an account you can create one here.
- On the homepage, scroll down a bit and click on “Get your IBAN”
- You’ll be redirected to the Virtual account page.
- Select the currency you would like to create a virtual account for.
NOTE: Virtual accounts are only available for US Dollars,(USD), British pounds (GBP) and EURO (EUR) for now. More currencies would be supported soon.
After that, you’ll be redirected to the register page, fill in the correct details and upload the documents required then click on “Finish”.
NOTE: Ensure to fill in a clear line of business/occupation else your request would be declined.(Business, Self-employed… e.t.c are all ambiguous)
Documents supported are Driver’s license, International passport, and National ID Card/NIN slip.
Utility bill could take the form of a tenancy agreement, delivery receipt in your name to the address, bank statement, NEPA bill etc. Your utility bill should be within 3 months else your request would be declined
Your virtual account is being created and you would be notified via email once the process is completed. Click on “Finish” or “Go back” to return to the balance page.
Cheers!!! You have successfully requested a virtual account.
NOTE: Virtual accounts are usually approved between 3-7 business days, you’ll be notified via email once your account request is reviewed or if further information is required.
Ensure to provide valid and accurate details to avoid delays.