How To Withdraw From Amazon KDP In Nigeria

Introduction/

Getting paid for your work is one of the most important things for any creator. If you’re a Nigerian author using Amazon Kindle Direct Publishing (KDP) to reach a global audience, you’ve likely enjoyed the benefits of a platform that offers great exposure and potential earnings. But for many Nigerian authors, withdrawing their KDP earnings is a challenging step.

This is because Amazon KDP primarily pays royalties through U.S.-based methods that aren’t always convenient in Nigeria.

If you’ve been searching for a clear, step-by-step way to receive your hard-earned money, this guide is for you.

I’ll walk you through practical ways to withdraw your KDP earnings, the tools available, and the pros and cons of each method so you can make the best decision for your needs.

Let’s get into how you can make the most of Amazon KDP’s payment methods right from Nigeria, and make sure your earnings reach you smoothly!

How Does Amazon KDP Pay Authors?

Amazon KDP pays authors through direct deposit, check, or wire transfer, but it only sends direct deposits to bank accounts in specific countries.

Unfortunately, Nigeria isn’t on that list, which leaves many Nigerian authors looking for alternative methods to receive their payments.

Popular Ways to Withdraw Amazon KDP Earnings in Nigeria

Let’s go through some options Nigerian authors have used to get their Amazon royalties:

1. Using a U.S. Bank Account (Payoneer)

One of the most popular ways to withdraw Amazon KDP earnings is by using a Payoneer account. Payoneer provides international banking solutions, including a virtual U.S. bank account, which can be used to receive payments from Amazon.

Once the funds are in your Payoneer account, you can then transfer them to your Nigerian bank account.

Steps:

• Create a Payoneer account, if you haven’t already.
• Link the virtual U.S. bank account Payoneer provides to your Amazon KDP account.
• Once Amazon processes your royalty payment, it’ll be sent to this account.
• Transfer the money from Payoneer to your local Nigerian bank account.

Pros:

• Payoneer is widely used and trusted for international transactions.
• Reliable and fast transfers.
• Fees are relatively low compared to other options.

Cons:

• There may be occasional transfer delays.
• Some users report higher fees for currency conversion.

2. Getting Paid Through Domiciliary Accounts in Nigeria

If you prefer to go through a Nigerian bank directly, you could use a domiciliary (domicile) account, which is a type of foreign currency account.

Some Nigerian authors use domiciliary accounts with specific U.S.-linked banks for payments, though this method can be trickier to set up.

Steps:

• Open a domiciliary account with a Nigerian bank that accepts international payments.
• Provide the account details to Amazon KDP.
• Once your earnings are transferred to this account, you can withdraw in U.S. dollars.

Pros:

• A straightforward process once set up.
• No intermediary (like Payoneer) involved.

Cons:

• Not all Nigerian banks support seamless payments from Amazon.
• Some users report challenges with certain banks not being able to receive Amazon’s payments.

3. TransferWise (Wise)

Wise (formerly TransferWise) is another online platform that allows you to set up a U.S. bank account, which can receive payments from Amazon KDP.

Wise offers competitive exchange rates and relatively low fees. However, Wise accounts are less commonly used for Amazon KDP royalties compared to Payoneer.

Steps:

• Create a Wise account and set up a virtual U.S. bank account.
• Link this account to your Amazon KDP profile.
• When your earnings are deposited, transfer them from Wise to your Nigerian bank account.

Pros:

• Excellent exchange rates and minimal fees.
• Wise has a straightforward interface and solid support.

Cons:

• Some users report longer processing times.
• Not as widely used for KDP as Payoneer, so support may be limited.

FAQ on Withdrawing Amazon KDP Earnings in Nigeria

Q: Is it legal for Nigerians to use Payoneer to receive Amazon KDP payments?

Yes, it’s legal. Many Nigerian authors use Payoneer to receive payments from international platforms, including Amazon. Payoneer complies with international financial regulations and operates in Nigeria with users in multiple industries.

Q: Are there fees associated with withdrawing money from Payoneer to my Nigerian bank?

Yes, Payoneer charges a small fee for currency conversion when transferring funds from your U.S. virtual account to a Nigerian account. It’s a good idea to check their current rates, as they can vary depending on the amount and currency involved.

Q: Can I use a Nigerian Naira bank account to receive payments directly from Amazon KDP?

Unfortunately, no. Amazon KDP only sends payments to bank accounts in specific countries and currencies, and the Nigerian Naira isn’t currently supported. You’ll need a U.S.-based account (such as through Payoneer or Wise) or a domiciliary account to receive your payments.

Q: How much does Payoneer charge for receiving Amazon KDP payments?

Payoneer typically charges 1% of the amount received, which is often lower than bank wire transfer fees.

Q: What is the minimum withdrawal amount on Amazon KDP?

Amazon KDP requires authors to earn a minimum threshold (usually around $100) before issuing a payment via direct deposit or check. This can vary slightly based on country and payment method, so it’s worth checking Amazon’s latest policies for updates.

Conclusion

Receiving your Amazon KDP earnings in Nigeria doesn’t have to be complicated. From Payoneer to domiciliary accounts and Wise, there are multiple solutions available that allow you to access your earnings securely and efficiently.

Each option has its pros and cons, and your choice will likely depend on what’s most convenient and affordable for you.

Now that you have a better idea of how to withdraw your Amazon KDP earnings from Nigeria, which method do you think will work best for you?