Raenest Pricing Update for Nigeria: New ACH Fees

At Raenest, we know that how you earn money globally isn't static. As you grow (taking on more clients, receiving larger payments or moving money more often), the way fees affect you changes too.

In January 2026, we introduced 4 free deposits each month as a thank-you for choosing Raenest. That offer has now ended, and we've had to review our pricing. Since October 6, 2026, we made changes to our deposit fees. Learn more about Raenest fees and charges here.

This post breaks down what's changing, what stays the same and what these updates look like in practice.

What's changing at a glance

Here's a side-by-side view of how fees worked before and how they work from October 6, 2026.

ACH deposits: a flat fee based on payment size

ACH deposits now cost a flat $2 for payments under $500 and $4 for payments of $500 and above. The fee stays the same no matter how large the payment is, so receiving $600 costs the same as receiving $20,000.

Why flat fees matter as your income grows

With percentage-based fees, the more you earn, the more you pay in fees. Flat fees work differently:

• Receiving $500 costs the same as receiving $100,000
• Your ACH deposit fee never goes above $4
• Large payments no longer come with large charges

Take a $5,000 payment. You pay $4 to receive it and $2.70 to convert it to naira: $6.70 in total. With a 0.8% deposit fee, the deposit alone would cost $40.

Sending naira to your Nigerian bank account is free, so you receive what you convert.

Free monthly deposits have ended

Starting October 6, every deposit has a fee, beginning with the first payment of the month. The app always shows the exact fee before you confirm a transaction.

Stablecoin, wire, EUR and GBP deposits

• USDC and USDT deposits cost a flat $1 ($2 on the TRON network). They now go into their own stablecoin wallets, so you can hold, send or spend them without converting to USD first.
• USD wire deposits cost a flat $10.
• EUR and GBP bank transfers cost 0.8%, with a minimum of €1.50 or £1.50 and a maximum of €10 or £10.

Conversion fees 

Conversion fees depend on the currency and, as usual, are displayed with every transaction. Learn more about our conversion fees here.

What these updates mean for you

With flat, capped fees, you know what each payment will cost before you receive it. You'll also continue to have access to:

• Competitive exchange rates, so you keep more of every dollar you convert
• Raenest FastTrack, which gives you your Upwork payouts in under one hour, any time, any day
• Stablecoin wallets and Vault: hold USDC and USDT in their own wallets, spend them with your Raenest card, or earn up to 7% variable APY in Stablecoin Vault
• Tools to receive, spend, invest and manage money across borders, all in one app

Our focus remains the same: helping you move money efficiently, affordably and with confidence as your needs evolve.

If you have questions about these updates, our support team is always available to help. Reach out to us at support@raenest.com or send a message using the live chat feature in the app. Thank you for choosing Raenest.