Can You Withdraw Naira to Someone Else's Bank Account on KWIQ?
· Updated · 3 min read
Short answer: Yes. On KWIQ, the bank account you withdraw naira to doesn't have to be in your own name: you can pay out to any Nigerian bank account, so you can sell crypto and pay a landlord, a school, a supplier or a relative directly. Moving money out needs your transaction PIN. Double-check the account details before you confirm, and never withdraw to an account a stranger gives you as part of a deal you don't fully understand.
Your aunty in Houston sends you 300 USDT for your cousin's school fees. The school has a bank account. Do you have to sell the USDT, withdraw to your own account, then make a second transfer to the school?
On KWIQ, you don't. You can withdraw naira to any Nigerian bank account, not just one in your own name.
How it works
- Sell your crypto for naira in the app. You see the rate and the naira amount before you confirm, and swapping to naira is free.
- Choose to withdraw, and enter the bank and account number you want to pay.
- Confirm with your transaction PIN.
Naira hits the receiving bank account in just 4 seconds, whether it's yours, your landlord's or a school's.
When it's useful
- Rent and school fees. Pay the landlord or the school directly from a crypto sale. See how to pay rent or school fees with crypto.
- Family support. Send money straight to a parent's or sibling's account, including fintech accounts.
- Suppliers and artisans. Pay the tailor, the mechanic or the wholesaler without an extra hop.
- Splitting a payment. Sell once, then withdraw part to your account and part to someone else's.
If you pay bills regularly, remember the same app also buys airtime and data and pays electricity bills from your naira balance: see paying electricity bills with crypto.
Check before you confirm
A bank transfer to the wrong account is hard to undo. Before you confirm:
- Read the account number twice, and make sure the bank is right.
- Confirm the account name with the person you're paying, if you can.
- Send a small amount first if it's a new account and a large payment.
- Keep the receipt from the app. It's your proof of payment.
The one thing to avoid
Paying people you know, for real reasons, is normal. What you should never do is withdraw to an account a stranger gives you as part of a deal, especially:
- "Sell this USDT for me and send the naira to my brother's account, keep 5%";
- "Pay my supplier for me and I'll send you crypto later";
- someone who "can't receive" in their own name and needs your help.
These are classic ways of getting ordinary people to move money for fraudsters. If the money turns out to be stolen, your accounts can end up in the trail. We explain how that happens in third-party payments in P2P and what a PND on your account means.
If a withdrawal hasn't arrived
Most withdrawals land in seconds. If one hasn't, check the details you entered and the app's transaction history, then read what to do if a naira withdrawal is delayed or contact support in the app, available 24/7.
Your account stays protected
Withdrawals need your transaction PIN, KWIQ runs internal security checks so a stolen or hacked phone isn't enough for someone else to move your funds, and the email address on your account can't be changed. Keep your PIN to yourself.
Paying OPay users often? See selling USDT to OPay. Then download the KWIQ app, or sign up on the web.
Frequently asked questions
Does the withdrawal account have to match my KWIQ name?
No. You can withdraw to any Nigerian bank account, including someone else's. Take care to enter the right account number and bank, because a transfer to the wrong account can be hard to reverse.
Can I pay my landlord directly from a crypto sale?
Yes. Sell the crypto for naira in the app, then withdraw to your landlord's account. Keep the receipt from the app as proof of payment.
Is it safe to withdraw to a fintech account like OPay or PalmPay?
Yes. KWIQ pays out to commercial banks and fintech accounts such as OPay, PalmPay, Moniepoint and Kuda.
Someone wants me to sell crypto and send the naira to their account for a commission. Should I?
No. Moving money for strangers in exchange for a fee is a common way people get caught up in fraud, and it can lead to your own accounts being restricted.
Written by
Mercy Ikeh
Technical Writer at KWIQ
Writes KWIQ’s guides on crypto, payments and keeping your money safe online.
