AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A Nigerian client can pay you in dollars by SWIFT wire from its domiciliary account to your US bank, by card through an online invoice or checkout, or through a payment platform that gives you US account details. Wires are the most direct for larger sums but can carry fees on both sides; card and platform routes are quicker for the client but deduct their own fees. Send the client exact details for one chosen route.
The three main routes
| Route | How it works | Costs to expect |
|---|---|---|
| SWIFT wire from the client's bank | Client's Nigerian bank sends USD from its domiciliary account to your US account, often via an intermediary bank | Sending bank charge (client), possible intermediary deduction, possible incoming wire fee at your bank |
| Card payment on an online invoice | Client pays your invoice by card through a payment processor | Processor fee taken from what you receive; client's card may have its own limits or charges |
| Payment platform with US details | Client pays to US account details issued by a platform, which then pays out to your bank | Platform fees and, if any conversion happens, an exchange margin |
What each costs depends on the provider's own fee page on the day. Bank of America's wire page, for example, says inbound wires may incur a $15 fee (accessed October 2026); other banks set their own. Check your bank's current schedule before quoting a client.
SWIFT wires: what the client needs from you
Most payment delays come from incomplete details. Send the client, in writing:
- Your full legal name exactly as on the account.
- Your US bank's name and address.
- Account number and the bank's SWIFT/BIC code for international wires (US accounts have no IBAN; Bank of America's own page says so for its accounts).
- Routing details only if your bank asks for them on international incoming wires.
- The invoice number to put in the payment reference.
The client's bank in Nigeria will usually ask for the invoice and sometimes a contract before it sends foreign currency, and may need time if the client has to buy dollars first. If a wire goes missing, the sender's bank can trace it with the MT103 reference; see what an MT103 is and intermediary bank deductions.
Worked example (illustrative figures)
Invoice $3,000. The client deducts 10% Nigerian withholding tax, so its bank sends $2,700. An intermediary takes $20 and your bank charges $15 on receipt: $2,665 lands. Your Schedule C shows $3,000 gross; the $300 goes to your withholding tax file and the $35 in bank charges is a business expense. Figures are examples; agree in the contract who pays transfer charges ("OUR", "SHA" or "BEN" on a SWIFT payment).
Card and platform routes
Card payment through an online invoice is fast for the client, but Nigerian-issued cards may face limits on foreign spending set by the issuing bank, so a payment can be declined; see when a Nigerian client's card is declined. Platforms that issue US account details let a client pay from wherever it can, and you withdraw to your US bank. Read each platform's own fee and payout page, and note that card processors and payment platforms may send a Form 1099-K; the IRS says third-party settlement organisations report above $20,000 in more than 200 transactions, and may report below that. See getting paid via Stripe.
Setting expectations on timing
A wire that leaves a Nigerian bank does not always arrive the same day. Cut-off times, the intermediary bank, US bank holidays and compliance checks at either end can each add a day or more. Agree payment terms that count from the invoice date, not from when the money lands, and ask the client to send the SWIFT confirmation (the MT103) as soon as the payment is released. With that reference your own bank can tell you whether the funds have reached it.
For card or platform payments, read the platform's payout schedule: money paid by the client may sit in a platform balance for some days before it reaches your bank, and a first payment can be held for review.
When your US bank asks questions
Regular incoming wires from Nigeria are normal business, but banks sometimes ask about the source or purpose. Keep the invoice, contract and client details to hand and answer promptly. Payments that look unrelated to your stated occupation draw more questions than steady, documented client payments; see US bank questions about incoming wires.
What to check first
- Your bank's current incoming international wire fee and SWIFT code.
- Whether the client can pay dollars now or must first buy them through its bank.
- Who pays transfer charges, written into the contract.
- Withholding tax treatment and the receipt you will get.
- For tax, the IRS treats the gross fee in dollars as your income; see tax basics.
Where Pryme fits
A Pryme Business Account gives you USD and NGN account details, so a Nigerian client can pay locally in naira or send dollars, and each stays in its currency until you choose to convert. Pryme does not replace your US bank account; it adds a route the client may find easier.
Questions people ask
How can a Nigerian company pay me in dollars in the US?
By SWIFT wire from its domiciliary account to your US bank, by card on an online invoice, or through a platform that gives you US account details.
What details do I give a Nigerian client for an international wire?
Your exact account name, bank name and address, account number, SWIFT/BIC code, and the invoice number for the reference.
Why did I receive less than I invoiced?
Usually withholding tax deducted by the client, an intermediary bank deduction, or an incoming wire fee at your bank.
Do I need an IBAN to receive money from Nigeria?
No. US accounts do not use IBANs; the sender uses your account number and your bank's SWIFT code.
Sources
- Bank of America: Wire transfers · accessed Oct 2026
- IRS: Understanding your Form 1099-K (reviewed 28 Jun 2026) · accessed Oct 2026
- PwC Nigeria: Highlights of the Deduction of Tax at Source (Withholding) Regulations 2024 (Jul 2024) · accessed Oct 2026
- IRS: Foreign currency and currency exchange rates (reviewed 22 May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.