Having to open a PayPal account that can receive money in Nigeria is very tedious but in this article, i have given a step – by step process to opening an account with paypal.. I understand that almost everything in this country is a hustle…
Before now, entrepreneurs have suffered having to give up jobs from foreign clients just because they could not accept payments easily or open a PayPal account before 2014, its either the stress is way more than the profit or the process is altogether discouraging, it all continued this way until PayPal was launched in 2014 and gave a breathe of fresh air for online entrepreneurs , freelancers, digital marketers and basically anybody who wanted to receive payments online.
It was very exciting to know that Nigerians could now easily open a PayPal account that could receive money in Nigeria without having to stress about it, everybody i knew at the time was a PayPal user including myself, i mean their services were very satisfying not until PayPal placed a ban on the use of their services by Nigerians…The reasons for this, among many others, are interwoven between regulatory requirements of Nigeria for foreign FinTech players to operate and so many others.
It was super discouraging and we were back to square one, Although this gave rise to a whole lot of companies that processed payments online gain more visibility because of the large number of people who badly needed to open a PayPal account or continue receiving money abroad at the time. up until today, A whole lot of people still want to learn the procedures and basic requirements to create and open a PayPal account in Nigeria to verify, fund, send and receive money easily. And the good news here is that even with the ban, there’s still a way to open a PayPal account that can receive money in Nigeria always.
Asides PayPal, there are other perfectly easy payment options you can consider, one of the very many reliable and easy to use payment portals is undoubtedly Flaxx, Flaxx is one of the easiest, fastest and cheapest ways to receive payments from abroad in Nigeria…
But the primary question here still remains – what are the best ways to open a PayPal account that can receive money in Nigeria without restrictions? In the next five minutes, this article will give you the necessary information you need on how to safely and perfectly create a verified PayPal account in Nigeria:
Best Ways to Open A PayPal Account That can Receive Money in Nigeria in (2022)
When operating on PayPal, you can either open a personal or business account, let’s start by discussing the business account; to set up an account, go to your goggle chrome browser and open up a PayPal account HERE
This account applies to businesses that want open a PayPal account that can receive money in Nigeria from their customers online, either by integrating it on a website or using other means. A PayPal business account allows you to add certain employees, like your accountant, access to the account for accounting. This privilege is not available for personal accounts at all.If you have a registered business in Nigeria, you may try a business account, otherwise a personal account is fine.
Using a business PayPal, you’ll have the privilege to send payment simultaneously and instantly to more than one person unlike with the personal account. Opening a PayPal business account or personal account is free, unless you choose to upgrade your account. There are no startup costs, termination fees, or monthly maintenance fees for the standard version of these accounts. The major difference between the two is the transaction fees.
So, once you have decided on the type of PayPal account you should open, the next step is taking action by creating an account that sends and receives money in Nigeria using our guide. to open a business account with PayPal, you need:
- A Business Name
- Business Phone Number
- Business Address
- Street Address.
- Your State’s name.
- Your State’s name.
- Zip Code / Postal code
If you are an individual and you want to open a PayPal account that can receive money in Nigeria for personal use only, i.e., to send money or pay for services online, then the best option for you is going for the Personal Account.If you also love playing games or shopping on websites online that accepts PayPal, purchase books from Amazon, payment for your internet bills, water bills and other private transactions, then the personal account is suitable for you.It is easy to sign up for a personal account, as it requires just basic information to start.
A personal PayPal account has certain restriction from the amount of funds you receive into it, to how you spend. The following are the things you need to open a personal PayPal account
- Your Date of Birth
- Identity Document
- Home address.
After getting the above documents prepared and picking your account type, you are halfway ready to setting up your PayPal account…Here are the right steps to take in creating your account successfully in Nigeria to receive money:
Visit PayPal Site
- First, open PayPal.com on your Chrome browser, either on PC or Smartphone.
- Once the page loads , go to the site menu at the top right of the page and click “Sign Up” to set up your account.
- PayPal Nigeria Login
Choose Business Account
- To send and receive money, select Business Account and click “Continue” to proceed.
Enter Your Email Address
- To sign up, you will be asked for your email address.
- Make sure you use a valid Gmail or custom email, do not use a Yahoo mail.
- Ensure you have access to the email address because PayPal will send important information to you through it.
- PayPal Business Account Requirements in Nigeria:
- On the next page, create a strong unique password for your account and remember not to lose the password or share it with anyone.
- When you’re done entering your password, click the Continue button to proceed to the next page.
Describe Your Business
- Here, your business contact, details, address, and phone number is required.
- The next screen that opens will require you to enter your personal information.
Name; Enter your first name and last name the exact way they appear on your valid ID card.
Business Name; You can enter your name here again or if you have a registered business, you can input the name in this section.
Phone number; Click the country flag/country code, then change it to Nigeria. Enter your Nigeria phone number without 0 e.g., +2348123456789.
Postal code; Enter your postal code. If you don’t know it, search your location postal code on Google.
- You can choose to use your residential address as your business address too.
- Currency: Choose the currency you want to receive payment in. It is advisable to select US Dollars.
- When done filling the form tick on the Agree and Continue, then submit.
- On the next page, describe your business with a relevant keyword by specifying the product or service you offer
- If you have a website, try to add it.
Enter Your Personal Information
- Another important step for opening a PayPal business account is to identify yourself.
- What you do here is to personalize your account.
- Enter your Date of Birth, Nationality (Nigeria), Identity Document and Number, Home Address, and then submit.
- On the next page, PayPal will welcome you to their platform and show you a summary of all the features of your account.
- This is a sign that you have successfully set up your PayPal business account.
- Your email address is what you will use for any transaction you make through PayPal.
- Before you can begin sending or receiving money on your account, you’re required to confirm your email address.
- You will see your PayPal account balance and some other information.
- Scroll around or down and Click See details.
- On the next page, you will see all your details, go through it and make sure all the information is correct. Then click Submit.
- Go to your email inbox and look for PayPal confirmation email.
- Open the mail and click “Confirm Your Email” button.
- PayPal Email Confirmation
- You will be redirected to your PayPal login page.
- Your email address will display by default.
- Just enter your valid password and then click “Confirm Email Address” to login to your account.
After verifying your email address, PayPal will need some proof from you to verify your identity and address.Ensure to upload and submit the required documents.
9. Link and Confirm Credit or Debit Card
In order to withdraw your PayPal funds to your Nigeria bank account, verify your PayPal account by linking your ATM card. You cannot link your account except you own one in the US. PayPal users from other parts of the world can only link their card. To link your card on your PayPal account in Nigeria:
- Make sure you have funds on your Visa card, First Bank MasterCard or UBA Prepaid Card.
- Login to your Lesotho PayPal account and click on “Link a Debit Card”.
- Enter your card details appropriately and click done. A sum of $1 will be deducted from your card. This means you have successfully linked your card.
- Click on the verify debit card and another $2 will be deducted. You will see a prompt that is asking you to input a code sent to you. This amount will later be released back into your account within 2 weeks.
- Now check the debit alert sent to you. Within the debit alert details you will see something like PP*4576CODE, it means 4576 is the code requested for, now input the code in the space provided in your Lesotho PayPal account.
- Once successful, you can start receiving money and sending out.
- With this Lesotho PayPal account that you have created, you can receive funds and sell it for cash to those who will buy.
With these processes, you should be able to open a PayPal account that can receive money in Nigeria at anytime…
Here are some of the reasons why PayPal is a good choice to consider…It is accepted in up to 200 countries.It is used in making purchases online, sending money abroad and in receiving international payments from affiliate networks and freelance sites.PayPal is a trusted brand worldwide. You can add many debit/credit cards to your PayPal account for ease of payment. It is free to use! Account creation comes at no cost – you are not charged any service fee for creating a PayPal account.
However, you’ll be charged a relatively trifling amount of money for linking a debit or credit card to your PayPal account. You get discounts regularly from big brands around the world.But on the other hand, these are some inevitable challenges that come with using a PayPal account.
- PayPal often freezes a user’s account.
- They may hold on to your money for a really long time.
- They charge you to open a PayPal account that can receive money in Nigeria
- Zero assurance of account retrieval.
As a holder, you have to be extremely cautious as it is practically impossible to recover the account in the event of suspension.
- You cannot hold more than one account – if you’re opening a PayPal account, you have to be aware of the fact that no one person is allowed to hold two or more accounts.
- Unavailable to people below 18 – if you’re below 18 years of age, it will be difficult for you to create a PayPal account.
How to Create a Verified PayPal Account in Nigeria
Getting verified means more security for you. When you’re sending and receiving money, “Verified” status is your stamp of approval.It lets other PayPal members know you’re a confirmed user with a current, active bank account.Since PayPal limitation is something that knocks out Nigerians from the global economy, the best way to receive payments internationally is to sign up with Waivve and avoid being caught up with slow payment service, high rates and inefficiency.
For most websites you browse today, you are likely to need a Payment account to sell or buy a service and this only shows how popular and important the payment gateway is.Having followed all instructions in this post, you should be able to open a PayPal account that can receive money in Nigeria from the comfort of your home.
Notwithstanding, the risks that comes with using a paypal account currently is sincerely high, imagine loosing over $1800 in just one transaction, this was one of the worst encounters i experienced with paypal late last year, i had carried out a transaction through my paypal account, placed withdrawals and didn’t get the pay, wrote emails but didn’t get it rectified either, $1800 just went down the drain without anyone being held accountable; this is in no way saying their services aren’t great, they are , but if you must use, use at your own risk…
You can also check out other payment processing options Here > 6 Best ways to receive payments from Abroad in Nigeria
We would love to hear from you in the comments…Would you rather create a PayPal account or consider other payment portals?
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