How to Receive Money with PayPal Business Account to Your Nigerian Bank | 2022
Receive Money with PayPal Business Account to Your Nigerian Bank
How to Receive Money with PayPal to Your Nigerian Bank Account | 2022
With PayPal online payment service, it is easy to send and receive money online. As a Paypal user, you can transfer money, receive money, withdraw money, and send invoice to clients and more. PayPal is also available in so many countries and in Nigeria.
In this article, I will show you how send and receive money with PayPal in Nigeria. This is 2022 updated information.
Paypal is a payment services that is based in the United States of America, and it is accepted in up to 200 countries worldwide!
USING PAYPAL IN NIGERIA
Receive Money with PayPal Business Account to Your Nigerian Bank
In the past years, there was restriction on Nigerians using PayPal payment service base on cyber fraud ground. The restriction limited Nigerians who are based in Nigeria to send and receive money. In fact, Nigerians were not allowed to open a account.
In 2014, that restriction was lifted and Nigerians were allowed to operate a personal account with which they can only send money with no possibility to receive money.
Sometimes around 2018, PayPal introduced Paypal Business Account for Nigerians to be able to send and receive money as a legal business entity or a freelancer. With PayPal Business account, Nigerians are able to receive money from anywhere in the world online.
Conditions to Receive Money with Paypal to Your Nigerian Bank Account
FIRST BAD NEWS
Business Account is only open for businesses, entrepreneurs and freelancers who conducts business online. The business account gives Nigerians the opportunity to receive payments through their website. This means before you can receive payment that is withdrawable to your bank, you must have a website and paypal will be the payment option with which customers can pay for your products or services on the website. This is an issue for so many Nigerians who do not have a business website.
FIRST GOOD NEWS
At Geewealth Technology, we are a professional Website Developer. We can help you to develop ecommerce website and other simple website with Paypal payment features. You can contact us here.
With Paypal Business Account, you can also request payment from customers, create invoice and more with the business account.
SECOND BAD NEWS
Another constraints for you as a Nigerian to receive money with Paypal is that you must have a registered business with Corporate Affairs Commission (CAC).
SECOND GOOD NEWS
Geewealth Technology can help you to register any type of business or organization you desire with CAC. Be it Business Name, Limited Liability Company, NGO, Church, etc, Geewealth got you covered. Geewealth Legal Team will help you our and deliver your business registration between 3days to 21days.
After your business has been successfully registered, you can then apply for Paypal Bussiness.
You can contact us here or chat us on whatsapp here or call 08111055633 or 08067380225.
Ok, lets continue….
Receive Money with PayPal Business Account to Your Nigerian Bank
Paypal Business account
Paypal Business Account is for businesses who want to receive payment from their customers online. The business account gives businesses opportunity and tools to add Payment solution to their websites and receive money. There are many tools and options that is beneficial to businesses.
Contact us here for more information and what it takes to build your website.
Requirement to open a PayPal Business Account in Nigeria
Here are the requirements to open a PayPal business account in Nigeria:
- Your First and Last name. It has to be your legal name.
- Your business name. You should have a registered business name with CAC. Even as a freelancer, it is good to have a registered business name.
- Business Phone Number
- Business Address
- Primary Currency. To make more money, you primary currency should be US Dollar. If you have USD in your Paypal, you can withdraw to you Nigerian Bank Domiciliary Account and Cash out your hard currency. Its sweet to hear right?
- Your Government issued ID card. Preferably international passport will be required
- Valid email address
- Phone number
Select the applicable business type from the options below:
- Individual/Sole Proprietorship
- Sole Proprietor
- Corporation
- Partnership
- Private Corporation
- Public Corporation
- Nonprofit organization
- Government entity
Also select products or services keywords.
If you have a website, enter your website address.
Also you will enter your Date of Birth and Home Address.
Note that you should only provide truthful and accurate information or else you will lose your account no matter how much you have in it.
Finally, you will land into your account. You are good.
Congratulations!!! You can now receive money with Paypal and withdraw to your Nigerian Bank Account.
PayPal business account sign up page
How to open a PayPal Business Account in Nigeria
Follow these steps to open a PayPal account in Nigeria:
- Decide the kind of account you want
- Visit PayPal website
You need to visit the PayPal website to create your account. For business account you can go to the business account creation page.
- Fill the account opening form
Completely fill the account opening form with all information required. You must make sure that all information you provide are true or you may lose your account.
- Confirm your email address
You will be required to confirm your email address. This is normal when opening accounts on the internet. Login to your email and confirm.
- Manage your account
At this point your account is active! You can start using your account. Add new cards to your account, change your password and so on.
How to receive money with PayPal in Nigeria
Follow these steps to receive money with PayPal in Nigeria
- Open a PayPal business account.
Only businesses are allowed to receive payment. Unfortunately, you cannot receive money with personal account
- Set up payment on your website
You will find instructions in your account how to set this up on your website to receive payment from your customers. Just click on tools and follow on screen instructions
- Send invoice
You may also be able to send invoice with your business account to customers
- Request for funds
You can also request for funds from your customers.
- Use your PayPal email
You can also use your PayPal email to receive money
Does PayPal work in Nigeria?
Yes, PayPal works in Nigeria! As a Nigerian, you can open a personal PayPal account to send money. You can also open a business account.
Can I receive money through PayPal in Nigeria?
You cannot receive money with a PayPal personal account in Nigeria. You can only send money, make payments and shop online. But with a PayPal business account, you can receive money from your customers.
What if I don’t live in Nigeria, can I send and receive money with personal account?
Yes and no.
Nigeria is not the only country that cannot receive payment with a personal account. There are many countries. As a matter of fact, there are countries that cannot even open PayPal at all! Ghana is an example. So if you live in a country that is restricted, you may still be unable to receive money with your personal account.
However, if you live in a country that is on approved list to receive money. You can open a PayPal account in that country and you will be able to send and receive money.
You can find a list of countries and their PayPal status here
Is PayPal available in Nigeria?
Yes PayPal is available in Nigeria. Nigerians can open a personal account to send money, make payment online or shop online. But Nigerians cannot receive money with a personal account. Business account is also available for Nigerian merchants who wants to receive payment online.
What makes PayPal important?
PayPal is important because:
- It is accepted in up to 200 countries
- Credit card security: Once you register your card with PayPal that is all. You will not need to enter it into any website you want to buy from.
- Financial Security: If you purchase an item with PayPal and the item is not as expected or you got cheated by seller, with PayPal buyer protection, you can get your money back!
- Trusted brand: PayPal is a trusted brand worldwide
- Ease of Payment: You can add many cards to your PayPal account for ease of payment
- It is free to use!
- You get discounts regularly from big brands around the world
PayPal Customer service number
The customer service number of PayPal is +1-402-517-4519 and 009 1 402-517-4519
