It’s official, UnitedMasters is launching in Lagos, Nigeria! We're excited to support independent artists as they share their music with the world. For more information on starting a paid UnitedMasters membership in Nigeria, please see these helpful support articles.
Here's a quick summary of what you can expect as you start to earn royalties for your releases distributed through UnitedMasters:
What cash out options are available in Nigeria?
In general, artists distributing with UnitedMasters can cash out their royalties using ACH bank transfer or PayPal (where available in your country). For Nigeria, PayPal for Business accounts are currently supported as a cash out method with our payment processing partner, Trolley. In order to cash your royalties out via ACH bank transfer, Nigeria-based bank accounts must be able to accept Naira (NGN) as the denomination for cash out requests. USD payments are not supported to bank accounts located outside of the United States or Canada per our payment partner's operational guidelines (Trolley). With that said, we understand that Nigeria has a dynamic financial market and are working to expand our payout options to best meet the needs of Nigerian artists!
What are the costs for cashing out royalties in Nigeria?
Cashing out via bank transfers has a $10 USD wire fee cost to a local NGN-denominated bank account. This cash out fee will be applied to when your wire transfer is approved and processed by our payment processing partner, Trolley. All Nigerian-based bank accounts must be able to receive Naira (NGN) as the receiving denomination.
For Cash Out requests paid out via PayPal, you will be charged a small fee directly by PayPal.
Can I still use PayPal for payouts in Nigeria?
Yes, you can still use your PayPal account as a cash out option in the UnitedMasters Wallet. We understand that individual PayPal accounts are unable to receive funds. You can either set up a PayPal for Business account in Nigeria (if qualified), or there are helpful resources online to show you how to get an individual PayPal account opened if you are based in Nigeria.
If neither of these options works for you, we invite you to cash out via ACH bank transfer (please note that ACH bank transfers will incur a $10 USD wire transfer fee).
Why do I need to complete a tax form when I create my Wallet?
We are required to collect tax information for every artist that we are paying royalties to ensure we meet our tax reporting obligations and liabilities. As a Nigerian-based artist, you will be asked to complete a W-8 BEN tax form. It is very important that you complete this form.
If you do not complete the W-8 BEN form, 30% of ALL of your royalties will be automatically withheld. By completing and submitting the form, 30% of US-based royalties ONLY will be withheld, and you will receive 100% of any royalties you generate outside of the US.
How will the exchange rate for USD to NGN be determined?
The exchange rate is determined by the banking partner issuing the wire transfer on behalf of UnitedMasters.
How long should it take for me to receive my funds if I’m in Nigeria?
ACH bank transfers typically take 3-5 business days, although this may be longer depending on your bank and if there is any other information required from our banking partner, our review team, or your bank in order for the transfer to be processed.
Who do I contact for support or issues with my payout?
ACH bank transfers typically take anywhere between 3-5 business days or longer depending on your payment source. If you have not received your payment after this time period, please submit a request for support that includes the cash out date and cash out amount so our team can help investigate this for you. Please note that all support requests for cash outs via wire transfer will be escalated to our payment processing partner, Trolley, for support. We appreciate your patience as our team works to escalate any payment related support requests for you!
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