Overview
Flutterwave, at a glance.
Flutterwave is a payments company headquartered in the United States, regulated by NMLS / state regulators, Central Bank of Nigeria. The company behind Flutterwave is Flutterwave Payments, LLC. Business accounts cost €0 a month. Opening an account takes 3–5 days.
Flutterwave is a payments company, not a bank, and balances are not deposits. Its merchant terms allow settlement holds and, in Nigeria, a rolling reserve of up to 10% for 180 days. The UK and EU Flutterwave entities do not hold payment licences of their own.
Why businesses pick Flutterwave
- Free to open, no monthly fee
- USD, GBP, EUR and AED account numbers; free domestic transfers into them
- Payouts in 39 currencies, including bank and mobile money across Africa
- Card and local-method acceptance in the same dashboard
- Accepts companies, sole proprietors, non-profits and trusts
Watch out for
- Incoming SWIFT costs 0.5%, at least $30
- No FX rate published
- Rolling reserves and holds possible under the merchant terms
- Regional pricing; much of it set per market
- Crypto, wallets, currency exchange and in-person gambling refused; online betting needs approval
Business fit
Will Flutterwave accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Flutterwave's published rules
Needs review
Flutterwave works with E-commerce, but does not publish the countries it accepts companies from.
Flutterwave does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Flutterwave publishes about the businesses it takes on.
Who Flutterwave serves
- E-commerce
- Marketplaces
- Startups and SMEs
- Travel
- Import and export
- SaaS
Not supported
Industries and countries Flutterwave does not accept, from its own published lists.
Industries
- Businesses engaging in deceptive, unfair, or predatory practices
- Businesses violating any law, statute, or regulation
- Businesses infringing on third-party intellectual property rights
- Unauthorised resellers of brand name or designer products/services
- Businesses accepting card payments for dishonored checks or uncollectible items
- Businesses accepting cards at scrip-dispensing terminals
- Adult entertainment and/or adult content websites
- Bestiality
- Activities damaging to brand or reputation, such as child pornography, escort services, and occult practices
- Digital wallet, cryptocurrency, or prepaid companies
- Drug paraphernalia
- Firearms, weapons, ammunition, explosives, and other harmful materials
- Investment or get-rich-quick businesses
- Marijuana dispensaries and related products/services
- Multi-level marketing businesses
- Negative-option marketing and renewal practices
- Pawn shops
- Pseudo pharmaceuticals
- Psychics or occult businesses
- Quasi-cash or stored value
- Substances that mimic illegal drugs
- Virtual currency or credits that can be monetised or converted to physical or digital goods or services
- Identification services
- Business, content, services, or behaviour promoting unlawful violence or harm on protected characteristics
- Predatory financial services such as credit counselling, wealth management, or loan consulting
- Pornography or other adult-audience products or services
- Bail bond services, bankruptcy lawyers, or law firms collecting funds for non-legal-service fees
- In-person gambling, sweepstakes, contests, or fantasy sports leagues offering monetary or value prizes
- Bidding-fee auctions
- Using Flutterwave's card-not-present checkout as a virtual POS for in-person card-present transactions
- Currency exchange services
Countries
- Not published
Coverage
Where can you use Flutterwave?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
5 to hold, 39 to pay
Hold and receive · 5 currencies
- EUR
- USD
- GBP
- AED
- NGN
Pay out · 39 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- ARS
- BRL
- CZK
- EGP
- ETB
- GHS
- ILS
- INR
- KES
- MAD
- MUR
- MWK
- MYR
- NGN
- NOK
- NZD
- PEN
- PLN
- RUB
- RWF
- SAR
- SEK
- SGD
- SLL
- TZS
- UGX
- XAF
- XOF
- ZAR
- ZMK
- ZMW
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Limited liability companies, Sole proprietorships, Non-profits and NGOs, Trusts (with verification)
Pricing
What does Flutterwave cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
Free
Flutterwave for Business
$0 per month
$0 setup · $0 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SEPA | Free | No charge · Domestic transfer to EUR account numbers |
| Faster Payments (GBP) | Free | No charge · Domestic transfer to GBP account numbers |
| SWIFT / international | 0.5%, min $30 | Percentage, with a minimum charge |
| ACH / local USD | Free | No charge · Domestic transfer to USD account numbers |
| Outgoing | ||
| Local transfer to another bank | NGN 10 | Fixed fee · Nigeria, up to NGN 5,000; NGN 25 to 50,000, NGN 50 above. Ghana GHS 10 to banks, 1.5% to mobile money |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Sign up
Create an account and choose the signup country.
- 2
Account type
Choose a Registered Business or Other Entity account and accept the merchant agreement.
- 3
Verification
Submit business, identity, address and bank or mobile-money documents and verify directors and owners.
- 4
Account live
After approval, enable Treasury for USD, GBP, EUR and AED account numbers and start receiving and paying out.
Documents you need
Not published
FAQ
Your questions, answered.
Is Flutterwave a bank?
No. Flutterwave is a payments company. In the US, Flutterwave Payments, LLC holds state money-transmitter licences (NMLS 2391594); in Nigeria the group holds Central Bank of Nigeria switching, processing and international money-transfer licences.
How much does a Flutterwave account cost?
Opening is free with no monthly fee. Domestic transfers into USD, GBP, EUR and AED account numbers are free; incoming SWIFT costs 0.5% (at least $30). Payouts and acceptance are priced by country.
Does Flutterwave give an IBAN?
Flutterwave gives approved merchants USD, GBP, EUR and AED account numbers and bank details that pay into Flutterwave balances; it does not describe them as named IBANs.
Which businesses does Flutterwave refuse?
Its list includes adult content, crypto, wallets and stored value, weapons, drugs, MLM, pawn shops, currency exchange and in-person gambling; sports betting and internet gambling need pre-approval.
Alternatives
How Flutterwave compares.
If Flutterwave is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 FlutterwaveThis pagePayments company |   | AfricaMulti-currency |
 PayoneerE-money institution |   | Marketplace payoutsMass payments |
 AirwallexE-money institution |   | Global accountsOnline businesses |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 StripeE-money institution | | Online payments44 countries |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.