Are you tired of excessive bank charges when receiving international payments? Grey.co foreign bank account provider offers a solution. With Grey.co, you can easily receive payments from global clients with lower charges and no registration fees.
This guide will walk you through the simple process of creating a Grey.co foreign bank account, receiving and sending payments. It will also help you explore Grey.co’s amazing features. Let’s dive in!!
What Is Grey.co Foreign Bank Account?
Grey.co foreign bank account, formally known as Aboki Africa is a fintech company that is jointly owned by Idorenyin Obong and Femi Aghedo. This platform is primarily created for Africans who work with international clients and get paid in foreign currencies.
Grey allows you to create a foreign bank account with which an international account number will be given to you for foreign transactions. It also allows you to convert any foreign currency to your local currency.
Features Of Grey.co Foreign Bank Account
Grey foreign bank account offers various features. Some of these features include:
- Ease Of Use: The platform is easy to use and the registration process is quick and easy.
- International Banking: Grey offers users the opportunity to open an online account for international banking.
- Fast and Efficient: With Grey.co foreign bank account users can enjoy quick money transfers.
- Currency Exchange: Grey.co foreign bank account allows users convert their payments made in foreign currencies to local currency.
- Amazon Transactions: Grey foreign bank account makes it possible for users to receive payments directly from Amazon.
- Unique Tags: Users can create unique tags they can use to send money to other Grey users.
- Mobile Phone: Grey bank is available on Google Play Store or App Store for on the go banking.
Getting Started With Grey.co Foreign Bank Account
Looking to use Grey.co foreign bank account for your transactions? Here’s how to open an account for free.
How To Open A Free Grey.co Foreign Bank Account
Before making any transactions with Grey foreign bank account, you will need to create an account. Follow the steps below:
- Download the Grey app on Google Play Store or App Store.
- Click on “Create your free account.”
Select your “Country” and click “Continue.”
Fill in your “Basic Information” and click “Continue.”
“Create a password” and click “Next.”
Enter the “OTP” sent to your email account to verify your email.
You have successfully created a Grey Account.
Make sure to complete your “KYC” verification in order to be able to make transactions.
How to Send Money With A Grey Account
You can send money with your Grey bank account in two ways. Either through your Grey tag or a new recipient.
- Loginto your Grey account.
- Click on the “Balance” you want to send from.
- Click on “Send.”
- Choose either to send with “GreyTag” or “New recipient.”
- If you are sending to a “New recipient”, switch to the recipients currency
- Input the “Amount and Banking information.”
- Make sure to specify if you’re sending to an individual or a corporate account in the “Recipient type.”
- Click on “Continue.”
- “Verify” and “Confirm” your transaction.
If your recipient uses Grey.co, you can make use of your GreyTag to send money.
How To Withdraw Payments From Grey Foreign Account.
There are two ways in which you can withdraw from your Grey foreign bank account.
- You can decide to convert your foreign currencies to your local currency before withdrawing it to your local bank for a fee.
- You can directly transfer your foreign funds to your local account from your USD account or any foreign account (GBP and EUR). When doing this, a flat fee of 0.5% would be charged
How Many Foreign Virtual Bank Accounts Are Available In Grey Account?
Currently, the only virtual accounts that are available on Grey.co foreign bank account are the United States Dollars(USD), European Euros (EUR) and British Pounds (GBP).
My Thoughts On Grey Foreign Account
I had a smooth experience opening a foreign bank account with Grey, and found the user interface intuitive. However, I’ve had difficulty getting help from their customer support team, as they haven’t responded to my issue with linking my bank account. While Grey.co foreign bank account excels in some areas, they need to improve their customer support.
Reviews on Grey.co Foreign Bank Account
To let you know what users think about Grey.co foreign bank account, I decided to get reviews from Google Play Store and Trustpilot.
A user commented on Google Play Store. The user said, “You have the best customer service! I had an issue with creating my dollar card because my driver license expired. One of your customer care representatives guided me through it, though it was late in the night. As if It wasn’t enough the platform I tried using it to purchase something from rejected it. The same person guided me through it again and it was approved.”
Another user on Trustpilot said “A stupid app… you do a job and receive your payment but these people hold onto your money and start telling you nonsense stories. Their US account does not work. Please don’t let people try to send money to the account cause both of you would lose it…. Please look for another alternative. I’ve lost so much within how many days.”
Conclusion
Grey.co bank account offers a seamless and efficient way to send and receive international payments. It has various features, and favorable exchange rates which users would enjoy. While the platform excels in many areas, improvements are needed in customer support.
Furthermore, Grey foreign bank account makes it possible to create multiple foreign virtual bank accounts and receive payments in various currencies. So, if you’re a freelancer or business owner, you can make use of Grey.co for your transactions.
Frequently Asked Questions
1. Can I Link My Grey Account To Payoneer?
Yes, you can. All you need to do is,
- Open your Grey foreign bank account.
- Click on “Add bank account” and fill in the required details.
Your Payoneer has been linked successfully to your Grey bank account.
2. Can I Receive Money From Abroad With Grey?
Definitely! Grey account makes it possible for users to receive payments in foreign currencies.
3. What Currencies are Supported in Grey?
The currencies supported in Grey includes:
- Nigerian Naira(NGN)
- United States Dollar (USD)
- Great Britain Pounds (GBP)
- European Euro (EUR)
- Tanzania Shillings (TZS)
- Kenyan Shillings (KES)
- Uganda Shillings (UGX)
- Brazilian Real (BRL)
- USDC
4. How Can I Open a Grey Foreign Bank Account?
- Firstly, log into your Grey account, if you have already created one.
- On the menu, click on “ Balances.”
- Select the “Currency” in which you want to create an online account.
- Click on “Request virtual account.”
- Fill in your information and required documents.
5. What are Grey Transaction Limits?
Below are Grey.co bank account transaction limits:
Deposit limit
- Daily limit is $5,000.00
- Monthly limit is $30,000.00
Withdrawal limits.
- Daily limit is $10,000.00
- Monthly limit is 30,000.00
