Open, Fund Paypal Account in Nigeria:
Are you a Nigeria blogger or an online person who like buying thing online? if yes, PayPal is for you. PayPal services are for everyone who pays online. The platform allows a user to send and receives money across the globe.
PayPal had basically shut Nigeria out due to our Internet-related fraud. As cyber security and fraud detection techniques improved as well as Nigeria’s notion as the largest economy in Africa, PayPal has now lifted restrictions on Nigeria. Now with the restriction lifted owning a PayPal account is quite simple and you can do that in two ways.
If you want to own a PayPal account, you must have to follow the registration process in their official website. I have made the step by step process outlined below for easy understanding.
- First thing you do is to go to www.paypal.com/ng
- Click on signup…select personal or business
- Personal will be for your personal debit card and business is for your company debit card (if you have one). I suggest you click personal if this is your first time.
- After selecting personal, click continue…you should see “Nigeria” in the drop down area, your email address and password.
- Fill in your email address (doesn’t have to be Gmail or Yahoo.)
- Type in your password and make sure it is one you can remember
- Go to the next page and type other details such as names, date of birth, address and phone number.
- Also when filling in your address, make sure that it matches the same address details you filled when you opened a bank account
- It takes you to a page where you fill in your debit card details
- Type in your card number, expiry date and the last three digits at the back of your debit card.
- Go to your email account and click on verify
- Voila!! Your account is set
- Test it by sending $10 to anyone or to your PayPal account abroad (if you have one)
- You get debited in naira and you should get an alert from your local bank
Using a wallet
First Bank, Google Wallet and other online money transaction platform offer this option through their exclusive deal with PayPal. How does this work?
First Bank Wallet to PayPal
Here is the step by step instruction on how to fund PayPal account with First Bank Wallet.
- First, Simply login into your Internet banking account using your password and token pin
- Choose the “PayPal wallet” in the main tab and click “create PayPal wallet” on the drop down menu
- Now select which cards you wish to link to your PayPal account and which card will be the default card.
- Press the button on your online token and conform accordingly
- Create a password in the pop-up window that appears
- Click on “agree and create account”.
- Go to your registered email account with the bank which confirms that you have created a PayPal account
If you are using other Nigeria bank and want to Know how to fund it, let us know in the comment.
PayPal Nigeria’s exchange rate
The exchange rate is one thing customers should take into account when making a transaction with PayPal. The thing is that there is an exchange rather as well as other transaction fees which one gets for using this account, however, other online money transfer service available may offer lower fees charges when making a transaction.
PayPal charge fees depending on the amount of money one send through the system. The more money one funds his PayPal account, the smaller the fees are. Thus, for sending up to $3,000 United States Dollars a month, the user will have to pay standard fixed rate fees of 3.9% + $0.30 USD. Meanwhile, for sending from $3,000 United States Dollars to $10,000, the fees would be as high as 3.4% + $0.30 USD. However, if you are sending up to $1000,000 a month, the customer will have to pay the commission in the amount of 3.2% + $0.30 USD. Finally, all transactions in the amount of more than that will also be charged with a commission of up to 2.9% + $0.30 USD.
Now you know that is better to send more money. However, even smaller transactions are still not too expensive to use. you must also bear in mind that the currency will be exchanged using the local currency exchange rate. Therefore, check out what the rate in you bank for that day and calculate what the charge plus the fees might equal to in the end.
Please let me know in the comment, how it goes PayPal account funding goes with you.
Get Stuffs Like this, to Ur' Inbox: