PayPal is a well-known brand used in sending and receiving money worldwide. It is one of the leading online platforms for making payments abroad. Read on for a detailed guide on how to open a PayPal account in Nigeria.

 How To Open A PayPal Account in Nigeria
How To Open A PayPal Account in Nigeria

What is PayPal?

An American financial institution registered in the United States and several other countries operates PayPal, the online wallet service. The company is also registered in Canada, Luxembourg, Singapore, Spain, and the United Kingdom.

PayPal serves as a global marketplace and stands as the biggest internet wallet service.

The service expanded to dozens of countries in 2014, officially becoming available to residents of Nigeria in July of that year. Before this, only Nigerian residents in supported countries could open and operate an account.

How to Open A PayPal Account From Nigeria

The primary requirement to open a PayPal account is a valid email address, which PayPal validates by sending a confirmation message that you must follow up on.

You’ll also need a Visa or Mastercard linked to a Nigerian bank account, which can be a credit or debit card. This is essential for verifying your PayPal account. PayPal will charge a small amount to the linked card, and once you confirm the transaction, your account will be fully verified.

However, it’s worth noting that as of December 2018, Interswitch’s Verve card is not compatible with the service.

To open a business account on PayPal, follow these steps:

  • Visit the official PayPal website.
  • Click on “Open a Business Account.”
  • Enter your email address and click “Continue.“
  • Enter your password and click “Continue.“
  • Provide your first and last name.
  • Enter your business name and phone number, ensuring these are legal details.
  • Input your business address, which should match the address used when opening your bank account. Include your Nigerian postcode.
  • Choose the primary currency for your business (commonly, Nigerians use the US Dollar).
  • Check the box next to “By clicking Agree and Continue, I agree to the User Agreement and Privacy Statement”
  • Click “Agree and Continue“ (the blue button).
  • Enter your debit card details, including the card number, expiry date, and the last three digits on the back of the card.
  • Check your email for a PayPal account verification link.
  • Click on the link provided in the email to verify your account.
  • Your PayPal business account is now set up and ready to use.

Frequently Asked Questions

Can People in Nigeria open PayPal Accounts?

Nigerians can open business PayPal accounts, enabling them to conduct foreign currency transfers with affordable processing fees.

Can I link my Nigeria bank account to PayPal?

Certainly! Here’s a step-by-step guide on how to link your bank account or credit/debit card to your PayPal business account:

  • Log in to your PayPal business account using either the PayPal website or mobile app.
  • Navigate to the “Wallet” section located on the menu bar.
  • Click on “Link bank account” or “Link a credit or debit card,” depending on which option you prefer.
  • Enter the required information for your credit/debit card or bank account.
  • After entering the information, click on “Link card” for credit/debit card or “Link bank account,” depending on the option you selected earlier.

Which Bank Uses PayPal in Nigeria?

You can link credit/debit cards from the following banks to your PayPal account in Nigeria:

  • Access Bank
  • First Bank
  • UBA (United Bank for Africa)
  • Diamond Bank
  • GTCO (Guaranty Trust Bank, formerly GTBank)
  • WEMA Bank
  • FCMB (First City Monument Bank)

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By Nayomi

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