Is 3S Money available for business in Nigeria?

Does 3S Money serve business customers in Nigeria?

3S Money is an electronic money institution authorised in the United Kingdom by the Financial Conduct Authority, and it operates 3S Money (Luxembourg) S.A., which is regulated by the Commission de Surveillance du Secteur Financier and passports across the European Economic Area. It works with directors and shareholders from more than 190 countries and publishes a list of countries it cannot serve. Nigeria is not on that list, so a business registered in Nigeria can apply, subject to its compliance and onboarding checks. Nigeria is not on the 3S Money restricted country list, although several other African countries such as Ghana, Botswana, Mali, Somalia, South Sudan and Uganda are. 3S Money says it applies a human approach to compliance so it can work with companies in higher risk regions, which can mean enhanced checks at onboarding. It provides local IBANs only in the United Kingdom, the Netherlands, Luxembourg, France and the United Arab Emirates, so a business in Nigeria holds a multi currency account with UK and European IBANs rather than a local Nigerian account. The account is a multi currency account aimed at companies that send and receive international payments through SWIFT, and across SEPA where the euro is used, not a deposit savings product, and it does not issue cards. As of 13 February 2026.

Eligibility for businesses in Nigeria

3S Money accepts businesses that are registered outside its restricted country list and operate in a supported industry, and Nigeria is not a restricted country. Prohibited sectors include adult content, gambling, cannabis and CBD products, foreign exchange services, weapons and firearms, atomic power, and shell companies. To apply you provide identity documents for each director, major shareholder and account operator, proof of address, a company registry extract issued within the last six months, and a shareholder register. The provider runs an online eligibility check and a compliance review before onboarding, and welcomes non resident owners. Verify with the provider

What it costs locally

3S Money publishes global plans, with the Standard plan around 100 euro per month, the Enterprise plan around 300 euro per month, and Enterprise Plus priced bespoke. There is an account opening fee that starts from around 100 euro and a requirement to keep a minimum balance equal to three times the monthly fee, so about 300 euro on the Standard plan. Each payment carries a fixed fee plus a percentage that depends on the countries you pay to and from. The plan can be billed in euro, pounds, dollars or dirhams rather than the local currency of Nigeria. Treat these figures as a guide and confirm the current schedule with the provider. As of 13 February 2026

What local users report

3S Money assigns every account a dedicated relationship manager and offers support in more than ten languages by phone and on WhatsApp on weekdays. It does not issue physical or virtual cards, so a business in Nigeria that also needs card spending or expense tools would need a second provider. As an electronic money institution it safeguards customer funds rather than holding them as insured bank deposits, which differs from a deposit guarantee scheme, so confirm how your money is protected before relying on it. Independent reviews are generally positive on onboarding speed and support, as of 13 February 2026.