Foreign Contractor Pay: USDT or an International Bank Transfer?
· Updated · 3 min read
Short answer: Both work. An international bank transfer to a domiciliary account suits companies whose finance teams can only pay by wire, though it can be slower and pass through intermediary banks. USDT is usually faster, lets you choose when to convert to naira, and suits companies (or payroll providers) that can pay in stablecoins. Many contractors ask for USDT and keep a domiciliary account as a fallback. Whichever you choose, put the currency, network or bank details, and who pays fees in your contract.
More Nigerians than ever work as contractors for companies abroad: developers, designers, customer support teams, analysts, writers. The contract says "USD 2,500 per month". The question is how that USD actually reaches you.
The two common answers are an international bank transfer to a domiciliary account, or USDT to a crypto wallet. Here's how they compare from the contractor's side.
Side by side
| International bank transfer | USDT | |
|---|---|---|
| What you need | A domiciliary account | A crypto wallet, such as your KWIQ USDT wallet |
| What the company needs | Their bank's international wire service | A crypto exchange account, or a payroll provider that supports stablecoins |
| Speed | Can take days, depending on the banks involved | Usually minutes once sent |
| Costs | Sending fees plus possible intermediary bank charges | Sending costs plus a small network fee; swapping to naira on KWIQ is free |
| When you get naira | When you convert at the bank | Whenever you choose to sell |
| Records | Bank statements | Contract, invoices, TXIDs and your app's transaction history |
Where the bank transfer wins
- Company policy. Some finance teams can only pay by bank. Arguing won't change that.
- Large, formal contracts where everyone expects a bank trail.
- Familiarity. Nobody has to learn anything new.
If you go this route, read saving in USDT vs a domiciliary account for what to expect from a dom account.
Where USDT wins
- Speed. Your pay can arrive the day it's sent.
- Control. You decide when to sell to naira, how much and how often. Our post on month-end cash-outs has a simple plan.
- Fewer middlemen. No intermediary banks between the company and you.
Our guide on getting paid in USDT without a domiciliary account covers the set-up.
How to raise USDT with a finance team
Finance teams like clear, low-risk requests. Try something like:
"Would it be possible to pay my invoices in USDT? It arrives faster and avoids intermediary bank charges. Here's my wallet address and network. Happy to receive a small test payment first, and I'll confirm receipt the same day."
Make it easy:
- give the address and network in writing, exactly as your app shows them;
- offer a test payment;
- keep sending proper invoices: here's how to invoice clients in USDT.
If they say no, that's fine. Keep the bank route and ask again later.
Put it in the contract
Whichever route you use, write down:
- the currency (USD paid as USD, or as USDT at 1:1);
- the bank details, or the wallet address and network;
- who pays which fees;
- the pay date, and what happens if a payment fails.
Keep records either way
If you're paid in USDT, your records are your proof of income: the contract, invoices, transaction IDs and your sales history. They also help if your bank asks about money coming in, as we explain in crypto income and your bank.
The common answer: both
Many contractors keep a domiciliary account for companies that can only wire, and ask everyone else to pay in USDT. For a wider comparison, see the best way to receive dollars in Nigeria.
When your first USDT payment arrives, you can sell it on KWIQ with zero conversion fees and withdraw to any Nigerian bank. Download the KWIQ app, or sign up on the web.
Frequently asked questions
Will a foreign company agree to pay me in USDT?
Some will, especially tech and crypto-friendly companies, or those using payroll providers that support stablecoins. Others have policies that only allow bank transfers. It's worth asking politely and explaining why.
Is a contractor paid in USDT still able to show proof of income?
Yes, with good records: your contract, invoices, transaction IDs and the history of your sales to naira. Keep them organised from the first payment.
Who pays the fees on a USDT payment?
Agree it in the contract. Usually the company pays its own sending costs, and the network fee is small on networks like TRON or BNB Smart Chain. Swapping USDT to naira on KWIQ is free.
Can I switch from bank transfers to USDT later?
Yes, if the company agrees. Send updated payment details in writing, ask for a small test payment first, and update your contract or payment instructions.
Written by
Mercy Eboh
Technical Writer at KWIQ
Writes KWIQ’s guides on crypto, payments and keeping your money safe online.
