How to open a PayPal account in Nigeria?

Can people in Nigeria open PayPal accounts? How do they work and how can one use online payments in the state? You can read on to learn more about it.

Many people these days want to get a PayPal account in Nigeria and receive money on it. And who would not want to given its affordability and convenience it offers to the users? That is why so many questions about it arise every day. For this reason, we have decided to answer all of your questions altogether and explain how to open and use PayPal in Nigeria.

What is PayPal?

As most of you probably know, PayPal is one of the hugest systems that allows you receive, send and transfer money. It works all over the world and almost in any country with several exceptions. The system is very popular thanks to the fact that it is easy to use and is quite affordable.

Besides, all a user has to do to get it is to fill out a form, provide ID and other necessary contact information and create an account online. But we will talk more about the details a little bit later. With this account, one can pay for goods he purchases on the Internet as well as send money abroad.

READ ALSO: Now Accepting PayPal

Many people use such accounts for work, especially those working for companies from abroad. And also it is quite convenient to have such an account, as it is highly protected and one can feel safe about the money he transfers or receives.

Does PayPal work in Nigeria?

Unfortunately, Nigerians did not have access to PayPal for a long time. There were several reasons for this, and the first one is that the Internet experience in the state was not safe enough for financial operations online. However, as the government implanted some positive changes, and transactions can be made safely via Internet now.

READ ALSO: How Can I Get A Paypal Account?

So, now opening a PayPal account in Nigeria is possible, and it can be done in no time and whenever one wants. The owners of PayPal opened it for Nigerians since they are the citizens of one of the biggest and most successful states in Africa.

How to open a PayPal account in Nigeria?

The process of opening a PayPal account in Nigeria is actually not hard at all. All one has to do is to follow our easy steps and do what we say in this article. So, let’s get ready and go through all the important steps together.

One more way of opening a PayPal account

Another way of opening an account and starting using PayPal in Nigeria. It is just as easy as the first one we mentioned. However, this way you can begin using the PayPal simply through entering the online account of your current bank.

Since June of 2014, a lot of users have registered with PayPal. The procedure is simple, and the system is extremely convenient to use.

PayPal Nigeria’s exchange rate

There is also one more thing customers should take into account. The thing is that there is an exchange rather as well as other transaction fees which one gets for using this account.

First of all, the fees depend on the amount of money one sends through the system. The more money one puts on 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 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.

Furthermore, by 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. So, it is better to send more money. However, even smaller transactions are still not too expensive to use.

One must also bear in mind that the currency will be exchanged using the local currency exchange rate. Therefore, check out what the rate for that day is and calculate what the charge plus the fees might equal to in the end.

All in all, we highly recommend you joining many other users in the experience of sending money with PayPal in Nigeria. You will not regret the decision

Related news