This article provides you with step by step guide on how to open paypal account in Nigeria; that can send and receive payment without the fear of paypal putting limitation or ban on your account.
Large corporations especially, online businesses utilize PayPal to pay employees, crew, and make other important expenditures. It is a credible system and quick in terms of making payments and receiving cash from different nations.
Before we dive in further, let us understand what paypal is and why it is beneficial:
What is PayPal?
PayPal is an online payment network or web that is globally approved and certified around the planet.
It provides an exceptional and prominent financial service all across different parts of the globe. Thousands of people across the world use it daily to receive and send payments online.
What are The Benefits of Using PayPal?
In terms of online payment, PayPal offers a fast and more secure option of online transaction.
PayPal offers a highly secure method of online transactions, including payment of bills, transferring funds, or receiving funds. PayPal keeps your financial data protected from hackers. For quick and fast services, PayPal offers the best.
In most cases, there is no urgency of entering all your financial details every moment. Immediately click checkout and it’s done with PayPal.
It saves you the stress and time of currency conversion when purchasing any item online. It’s very easy to operate and signing up is totally free for all users. Also, it’s worthy of note that you can send money from your PayPal balance with no extra cost.
Why is PayPal cautious about some African countries?
PayPal currently exists in over 40 African nations; examples are, Tanzania, Togo, Djibouti, Mali and Gambia, etc.
In 2014, some African countries including Nigeria and Ghana were banned from sending and receiving funds on PayPal. Even though Nigeria has enormous internet penetration in Sub-Saharan Africa (more than 90 million active users online) and it’s also having the largest economy in Africa.
Residents of Nigerians are not authorized to receive or transfer funds through PayPal. This is because, PayPal worries about the issue of fraud in Nigeria.
Nigeria is well known for its inimical status as a citadel of internet fraud. So therefore, PayPal is trying to avoid chaotic issues arising from fraud in Nigeria.
How to Open PayPal Account in Nigeria
Because of the undue and high level of cyber fraud activities attributed to Nigerians, I guess it going to take an extended period of time before PayPal will remove its limitation on Nigeria.
This ban has brought some limitations to many individuals especially freelancers who earn legitimate money online from services such as Freelancers, Fiverr, Upwork etc. Most of all these top sites pay people that offer services via PayPal.
The most important challenge to a Nigerian PayPal account is receiving of funds after delivery of service. You’d agree with me that 4 out of 5 websites that sells legitimate goods and services presents PayPal as one of their best payment method.
This is a big blow to Nigeria freelancers as they are deprived of so many services and fundamental necessities and it is indeed painful.
I earlier stated that Nigerians top Africa internet services and it’s not wise to leave things to chance. For example, you can’t explain to your landlord that PayPal has banned Nigeria, so no money to pay house rent. People especially Freelancers are looking for other delicate ways to have the same PayPal privileged other developed nations benefit.
Here and now, I will guide you through steps on how to circumvent PayPal limitations on Nigerians and benefit the same PayPal privilege that nations enjoy without limitation.
Step by step procedure on how to open a PayPal account in Nigeria
Firstly, I will like to tell you that, you are not opening a Nigerian PayPal account but a PayPal account from Nigeria. Like I rightly explained above, a Nigerian PayPal account is as good as worthless. Because you cannot transfer money to other PayPal users and your spending mode is always impeded when you are shopping from your PayPal account.
Documents needed for opening a PayPal Account
- A new Gmail account
- A credible Identity card. This can either be a National ID, Driver’s License, or even an International Passport.
- Any Business name (Registered or not).
- Debit card. This can either be a visa, master card, etc
The following documents highlighted above are important and essential documents required in the process of opening the account. I will like to let you know that, you don’t need any VPN (Virtual Private Number) or need any foreign phone number.
See How To Report Your Bank To CBN
First Step is signing up with a different domain name
Creating a foreign PayPal account requires that you use the domain name or URL address of the foreign country other than Nigeria. For example, the domain name for Nigeria website is /ng, while that of United Arab Emirate is /ae.
You can type for example the following URL in your browser’s address bar; www.paypal.co.za for a South African PayPal account. www.paypal.com/ls for a Lesotho PayPal account. www.paypal.com/ke for a Kenya PayPal account. www.paypal.com/uae for a UAE PayPal account. www.paypal.com/us for a United State PayPal account.
NOTE: If you choose to open a US PayPal account, you can be able to withdraw your PayPal funds directly to your local bank (gtb or any other bank) at the current exchange rate.
After inputting one of the following URL addresses on the address bar, you will be directed to that country’s PayPal website immediately. Click on sign up, after full display of the website.
Second step is choosing between a Personal and a business PayPal account
PayPal offers two options for users, which can either be for business purposes or for personal use. I will teach you both of them and their importance.
PayPal Personal account
This kind of account is for individuals who are concerned only with buying and selling petty things online. If you are opening this type of account, very few details of your personal information are required.
It is worthy to note that personal PayPal account have some distinct limitation from the amount of funds you can receive into it.
However, it is easy to sign up but like I said; you’re prohibited to $500 when it’s not yet verified. While when it’s verified, you can spend up to $10,000. There is flexibility to this type of account but it totally up to you.
Business PayPal Account
This type of account is preferable to users who already have a register and working business. For example; those that have a website and their site have payment options. This kind of people needs a business PayPal account. While, there are certain restraints by some job network (e.g. Fiverr) for personal PayPal account, but in a business PayPal account there are no restrictions. Business PayPal can make certain expenses up to $1m.
Although, business account is usually subjected to thorough verification, it is still possible to create an account from Nigeria with no issue. This type of account requires professionalism and you can even add the details of your business partner.
However, in a business account, you have a permit to send invoices to clients, and you can make bulky payments instantly without delay or constraint. It’s totally your choice to decide on what account you need, as each account has its pros and cons.
THIRD STEP is all about filling your personal or business details
Depending on your choice, you will have to fill the details carefully. Irrespective of the country you use, you will need to approve your address and Identification number.
You can input your National Identity Number (NIN), or the number on your Passport. This is to verify if you are above eighteen years old and also if you are recognized globally by any nation.
For those opening a business account, you may need to open the account as a Nigerian who resides and operates the business in a foreign nation. Although, this will require further documents and if you have connection oversea, you can quickly hit them up for more information and legal documents.
But if you don’t have a connection out there – do not worry, there are still other ways to help you get those documents that information. Just open another browser and search for your country of choice’s yellow pages in Google. After opening the yellow page, get all the required details you need to set up your business PayPal account.
Fourth Step is to verify your email
After inputting all the necessary details and your new email address on the required space, PayPal will send you a verification mail immediately. Click on the mail to verify it’s you who initiated all those processes.
Immediately, you click on verify, it will redirect you to the dashboard of your new PayPal account. You can go ahead and do the necessary settings and profile management.
Fifth step is to remove your limit with a PayPal VCC (virtual credit card)
After verifying the mail sent to you as earlier stated, you can choose to remove your limit and benefit totally from your new PayPal account without hindrance by inputting your VCC.
Don’t get it mixed up; VCC can be your MasterCard, Visa card, Gold card etc. Input the necessary information required to link up your card with your PayPal account. After linking it up, your spending limit will be uplifted from your new PayPal account.
Sixth step is to try out your new PayPal Account
Congratulation, you now own a foreign PayPal account in Nigeria and you are free from experiencing the hurdles that with being a Nigerian. Test your new account by transferring little funds in it and also spend it out immediately.
Congratulation once again, you can now accept payment from customers, family and friends. Also, you can purchase goods and services without limit in your PayPal account here in Nigeria.
PayPal is a widely accepted method of online payment.
Creating a PayPal in Nigeria is easy and it doesn’t have to be a Nigerian PayPal account per say; you can open a UAE PayPal or a Lesotho PayPal from Nigeria if you carefully follow all the step by step guides mentioned above in this article.
You should be able to receive payment as family and friends (FNF) or as goods and services (GNS) after your account is created.
IMPORTANT NOTE: PayPal charges a certain percentage (little) on all funds transferred as GNS. Also, not all PayPal account can send and receive payment as FNF.
Is this guide helpful to you? Do you have any question about this post? Use the comment section to let us know how you feel. Thanks!