Both Geegpay and Grey are remittance apps that help freelancers, remote workers, and content creators to facilitate payments from their clients and business partners. Despite the fact that both companies offer similar services, there are slight differences that make them preferable for users depending on the one that matches their needs.
We'll not only explain the differences between the Geegpay app and Grey.co, but we'll also emphasize the similarities and comparisons that make one better than the other. We'll dive deeper into their fees and deposit structure, exchange rate, transaction flexibility, and use cases; US account type and payment support; reliability; and feedback.
Geegpay vs. Grey
Geegpay
Geegpay is one of the Nigerian fintech platforms that facilitates international payments for freelancers, remote workers, creators, entrepreneurs, and individuals. The platform let these transactions happen through the provision of virtual bank accounts in USD, GBP, and EUR; virtual debit cards; and options for converting between currencies. In simple terms, Geegpay allows users to receive payments from global platforms and clients, convert foreign currencies to Naira, and withdraw to Nigerian bank accounts.
Grey
Grey (grey.co) is an all-in-one remittance app that allows freelancers, digital creators, entrepreneurs, and remote workers to open international bank accounts for free to receive and make foreign payments instantly or convert the foreign currencies received. Foreign currencies like USD, GBP, and EUR can be received, held, and converted using designated virtual bank accounts on the Grey Finance app.
Geegpay and Grey Similarities
- Both are fintech companies that facilitate international payments for those that want to receive gig payments.
- Both have multi-currency wallets and virtual account numbers denominated in United States Dollar (USD), European Union Euro (EUR), and Great British Pound (GBP).
- Both can be used to manage FX-side businesses.
- Both can be used to receive payment from Upwork, Fiverr, Medium, Ezoic, AdSense, KDP, Facebook, Payoneer, Wise, and many others.
- Both can be accessed via mobile and web applications.
- Both offer a virtual USD debit card that can be used for online international spending.
- Both have a currency conversion tool with a good exchange rate.
- Both offer Mastercard cards.
Geegpay vs. Grey—Differences
Geegpay and Grey offer similar services and target the same audience, but they're different slightly and majorly from each other in the area of exchange rate and transaction fees. Although they're different from each other in other areas, those areas just have little differences.
USD Virtual Card
Let me start with their USD card spendings and limits. Geegpay's USD card is a Mastercard that allows users to make payments for anything online. However, you'll need a $3 creation fee to create the virtual card. In addition to that, you'll need a $0.5 funding fee every time you want to fund the card, and you must fund at least $5 at a time.
Once that is settled, you'll also be charged $0.5 for every spending on the USD card. However, it's important to note that these transaction fees—except the card creation fee—are hidden fees; you'll only realize it when you want to start using the card for international payment.
On the other hand, Grey offers its virtual USD card for a one-time $4 card creation fee and a $1 funding fee every time you want to fund the card, making it a total of $5 as an initial card creation fee. The difference between Grey's card and Geegpay's card is that Grey doesn't charge a spending fee, while Geegpay charges a spending fee.
Virtual Accounts
Geegpay offers three types of foreign accounts: USD, EUR, and GBP. The USD bank accounts are also of two different types: Domestic Account Number and International Account Number. The Geegpay's Domestic USD Bank Account Number can be used to receive USD payment from a Nigerian domiciliary account. The International USD Bank Account accepts foreign payments denominated in USD. While the international account has a SWIFT code, the domestic account doesn't have a SWIFT code.
On the other hand, Grey also offers three foreign virtual bank accounts: USD, EUR, and GBP. Unlike Chipper Cash, these bank accounts have $0 creation fees and can be used to receive payments from abroad. Unlike Geegpay, which always has hidden stuff, Grey clarifies its USD bank account protocols.
Grey USD Bank Account's protocol
- Receiving payments via ACH incurs a 0.8% fee.
- A minimum charge of $2 and a maximum of $10.
- ACH routing number.
- Payments via WIRE carry a flat fee of $20 and require the WIRE routing number.
- SWIFT payments are currently not supported.
- USD payments can only be received from banks within the United States.
- Incoming payments may take 1 to 3 days to process, depending on the sending bank’s payment scheme.
- Lastly, third-party deposits are limited to amounts under $4,000.
Differences
The differences between a Geegpay USD bank account and a Grey USD bank account are that a Geegpay USD bank account can only be funded through domestic wire transfer from a domiciliary account, through international SWIFT payment, and through conversion of other currencies like NGN, EUR, and GBP. On the other hand, a Grey USD bank account can be funded through all these three methods, including USDC stablecoin.
Other Services
Other services that Geegpay offers differently from Grey are Payment Link. It allows users to request and get paid by friends and customers. On the other hand, Grey offers Bill and Airtime purchasing services and Gift Card purchasing services, which are not available on the Geegpay app. However, Invoices that allow users to instantly create, send, and manage payment invoices are available on both apps.
Geegpay vs. Grey—Feature Comparison and Verdict Tables
| Feature | Geegpay | Grey |
|---|---|---|
| USD Account Type | Wells Fargo (ACH-supported) | Community Bank (Wire-only) |
| Supported Currencies | USD, GBP, EUR, NGN | USD, GBP, EUR, NGN, KES, GHS |
| Deposit Fee | 0.9% (min $1.50, max $30) | 1% flat fee on deposits |
| Currency Conversion Fee | Free | 1% (capped at ~$6) |
| Exchange Rates (to Naira) | Good, but not always the best | Often better, closer to black-market rates |
| P2P Transfers | Not supported | Yes, supported. |
| Virtual Dollar Card | Yes (Mastercard) | Yes (Mastercard) |
| Withdrawal to Naira | Free | ₦35 per transaction |
| ACH Support (e.g., Upwork) | Yes | Yes |
| Mobile App & Web Access | Yes | Yes |
| Verification (KYC) | Required | Required |
| Trustpilot / User Reviews | Mixed | Generally positive |
| Best For | Upwork, USD inflow | Best rates, P2P transfer |
| Use Case | Recommended App |
|---|---|
| Receiving from Upwork, KDP | Both work well |
| Getting best Naira exchange rates | Grey |
| Sending money to other users | Grey |
| Holding funds in USD/GBP/EUR | Both work well |
| Managing FX side business | Grey |
| Avoiding ACH/payment failures | Geegpay |
Final Verdict
Geegpay and Grey both offer solid international payment solutions for freelancers and remote workers in Africa, but their strengths differ. If your priority is receiving payments from platforms like Upwork, KDP, or any service that requires ACH support, Geegpay is the better fit with its Wells Fargo-backed USD accounts and seamless integration.
On the other hand, if you're looking for better exchange rates, flexible peer-to-peer transfers, and multi-country support, Grey provides more versatility—especially for those running side businesses or exchanging funds across borders. In addition to that, Grey also is best for spending internationally using the app's virtual USD Mastercard. For maximum flexibility, many users find value in using both platforms depending on the payment source and their specific financial needs.
