Let me show you simple outlined steps on how to Link Bank Account to PayPal in Nigeria.
Nigeria is a country with over 200 million people and an economy that is projected to grow by about 6.5% in 2023. However, there are many people who do not have bank accounts or who do not have access to the internet. PayPal is a popular online payment system that is available in many countries around the world. It can be difficult to link bank account to PayPal in Nigeria, but there are several ways to do it, which will be explained in this article.
More over, PayPal has continued to be a popular choice for online shopping and money transfers for decades. It has been providing customers with various options to make transactions and transfer and receive money online since 1998. You can pay for products online using your bank account instead of a credit card, and it secures your financial information.
It also makes money transfers simple and, in most circumstances, free. PayPal has practically made checks and pricey wire transfer services archaic.
So, to get started with PayPal, here’s what you’ll need to know:
What actually is PayPal and how does it operate in Nigeria?
PayPal is an online payment system that allows sending and receiving money as well as paying for products online simple and secure.
Once you link your bank account, credit card, or debit card to your PayPal account, you can use PayPal to make purchases online with participating shops in Nigeria and abroad. PayPal acts as a go-between for your bank and merchants, protecting your payment details against fraud.
You can also use PayPal to securely send and receive money from friends, family, and others.
What is PayPal Credit all about?
PayPal Credit is a credit line program offered by PayPal. It functions similarly to a virtual credit card, except it can only be used to make online payments on PayPal-accepting websites. PayPal Credit, like a typical credit card, allows you to delay payments.
How to Sign Up for PayPal in Nigeria
You can open a PayPal account using your computer or mobile browser, or using the PayPal app directly. Following are the actions to take:
- Visit paypal.com or the App Store or Google Play to get the PayPal app.
- Click the “Sign Up” button in the blue box.
- “Personal Account” is the option to choose.
- When you input your phone number, you’ll receive a text message with a security code that you must enter on the next screen.
- Fill up your legal name, email address, and a strong password.
- After that, enter your shipping address and accept PayPal’s privacy policies. Your account will be created.
- Finally, link your PayPal account to a credit card, debit card, or bank account.
How To Link Bank Account To PayPal in Nigeria
Follow the steps below to link bank account to PayPal in Nigeria:
- To link bank account to PayPal, go to the top bar and select Wallet, which will show you your existing PayPal amount as well as any linked credit or debit cards. To begin the procedure, simply select Link a bank account.
- Fill in your bank account information. Your bank account information can be added via Bank Verification or Wire Transfer.
(i) Bank Verification
(ii) Wire Transfer
Details such as your bank’s country/region, bank name, bank code, branch location, branch code, and account number will be required. To avoid paying a fee for returned withdrawals, double-check that the names on your bank account and PayPal account match.
If you’re using a debit card, click “Link card,” or if you’re using a bank account, select “Link bank account.”
You can now pay for online purchases with your PayPal account and withdraw PayPal funds in full to your bank account.
How to use PayPal to send money
- To get started, tap “Scan/Pay” in the app if the vendor/person has a QR code.
- Alternatively, click the “Send” button from the PayPal app or your online PayPal account. Then type in the name, email address, or phone number of the person to whom you’d want to transfer money.
- Fill in the amount you’d like to send. As a reminder of what the payment is for, you might include a note (e.g., “wedding cake” or “happy birthday”).
- If you’re sending money to “Friends and Family,” PayPal will inquire if you’re paying for “Goods and Services.”
Other information & FAQs
The following questions are commonly asked by Nigerians, and they are answered on this page. Continue reading to find out:
Is it possible to fund PayPal with Naira?
Personal accounts in Nigeria do not currently support receiving money. Personal Accounts are the only ones that can be opened and used to transmit money online. You can also make payments to millions of retailers worldwide who accept Paypal. The Naira, Nigeria’s official currency, is not presently supported.
Is it possible to link my Nigerian bank account to PayPal?
Absolutely Yes! When you get the alert from your bank. Log in to your account and click on Get Verified; on the following page, simply click on the Enter Paypal Code option. You can now use your Paypal account to make payments from Nigeria without fear of being barred from sites that accept PayPal as a payment mechanism.
Which bank uses PayPal in Nigeria?
First Bank has become Nigeria’s first and only PayPal partner.
Can I use PayPal to receive money in Nigeria?
Is PayPal available in Nigeria? Yes, the service is available in Nigeria. However, in the country, PayPal cannot be used to receive money. You can only send money, fund your account, purchase online, and complete other non-receiving actions.
Can I receive money with PayPal in Nigeria 2022?
Can I receive money from PayPal in Nigeria? In Nigeria, you cannot receive money using a PayPal personal account. Only money can be sent, payments made, and purchases made online. You can, however, receive money from your clients if you have a PayPal business account.
Can I send money from PayPal to my Nigerian bank account?
You certainly can! You can not only receive PayPal in Nigeria, but you can also withdraw payments directly to your bank account.
How do I withdraw money from PayPal in Nigeria?
To withdraw money to your bank account in Nigeria, your account will be displayed as Wallet. You will be sent to a page that instructs you to withdraw your funds. You can select the area where you want the money transferred, and then the account for your credit card or bank.
Is it safe to link a bank account in Nigeria to PayPal?
“Do not link your PayPal account to your bank or debit card account.”
If your PayPal account is compromised, money will be stolen immediately from your bank account. However, you only have two days under federal regulation (Regulation E) to dispute a fraudulent charge with your bank.
How do you receive the money if someone pays you using PayPal?
When someone gives money to your email address or cellphone number, you receive money through PayPal. When that happens, we’ll send you a message to let you know you have money. By heading to the Summary page, you can access your money from your PayPal Cash or PayPal Cash Plus account.
Is the GTBank card compatible with PayPal?
Simply make sure your GTBank Naira Mastercard is fully funded before retrying your PayPal transaction. It will be a success.
How do I transfer funds from PayPal to my Nigerian bank account?
To withdraw funds into your bank account, follow these steps:
Navigate to Wallet. Select Transfer funds. Withdraw from PayPal to your bank account by clicking the button. Select the bank account to which the funds are being transferred and click Next.
Can I receive money with PayPal without a bank account?
To send or receive money with PayPal, you do not need a bank account. If you wish to withdraw money from your PayPal account, you must have a bank account.
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Conclusion
In conclusion, linking your bank account to PayPal is a very easy process in Nigeria. All you need to do is follow the steps that we have outlined in this article and you will be able to start using PayPal in no time. Thanks for reading!
