How to receive money through PayPal in Nigeria: can you do it?

How to receive money through PayPal in Nigeria: can you do it?

What is PayPal? It is a financial company that offers payment methods for individuals who prefer online transactions to handling physical cash. With a PayPal account, you can easily send or receive funds from different people in any corner of the world. Do you know how to receive money through PayPal in Nigeria?

How to receive money through PayPal in Nigeria
Photo: (modified by author)
Source: UGC

Besides receiving or sending funds, you can also pay for online purchases through the platform. Below is what you need to know about receiving money using a PayPal account in Nigeria.

How to receive money through PayPal in Nigeria

How can I receive money through PayPal in Nigeria? Does PayPal work in Nigeria? Yes, the service is operational in Nigeria. However, you cannot receive money using a personal PayPal account, but you can open a business account to receive funds online in Nigeria.

You can only send money, fund your account, shop online, and perform other tasks that do not involve receiving funds.

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In case you are wondering about the procedure of how to receive money from PayPal, then you need to adhere to the guidelines below:

  • Open a PayPal business account. Individuals are not allowed to receive funds with their personal accounts.
  • On your website, set up your payment system. To enable you to collect payments from clients, read and follow the instructions in your account on how to set this up on your website.
  • You can send an invoice with your business account to your clients or request funds from your customers.
  • Also, you can use your PayPal email to receive money from customers.

How to open a PayPal account in Nigeria

PayPal can be used in many other ways other than just receiving money. Use the steps below for PayPal Nigeria sign up:

  1. Visit the PayPal website on your browser: Use PayPal Nigeria address.
  2. Tap "Sign Up for Free": You will be taken to the registration page. Enter your details.
  3. Specify the account type: You have personal and business options.
  4. Provide your email and phone number: They should all be valid as you will be required to confirm them later.
  5. Key in your name: Your first name and last name will be required at this phase.
  6. Create a password: It should contain some special characters, numbers, and a mix of capital and small case letters. Confirm the password and move to the next step.
  7. Accept the terms and conditions: You should be the owner of the mobile phone number you provided. You should also be ready to receive a confirmation text.
  8. Tap next: The button is below the last field.
  9. Verify your phone number: Retrieve the SMS sent to you by PayPal. You now have an active account.

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How to use PayPal in Nigeria: Adding your bank account or credit card

How to receive money through PayPal in Nigeria
A man using a cellphone. Photo:, @Charles Wundengba
Source: UGC

You should also consider linking your PayPal account with your bank account or credit card. To do so, follow the procedure below:

  1. Go to your PayPal settings: Log into your account. Tap the gear icon next to the "Log Out" option. This will take you to a new window.
  2. Select "Money, Banks, and Cards": This option is under "Business/Personal Profile".

3. Link your bank account or card: Use any of the convenient methods to set up a cash-out channel on your account.

Fees for transacting via PayPal in Nigeria

Not receiving money using your personal PayPal account does not mean you cannot perform any transactions on your account. You can still send money to any part of the world. However, you will be charged if you use your credit or debit card to perform the transaction.

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It is free to send money from your PayPal account to any part of the world. The recipient will pay the conversion fees necessary to convert the received funds from foreign currency to their local currency.

How long does it take to send money through PayPal?

Once you send money on the platform, the transfer is reviewed manually. This can take anywhere between 3 to 5 business days before the amount is credited to the receiver’s account.

If you need to send the money urgently, you can opt for the instant transfer, which takes 30 minutes to be completed. However, you will pay a 1% fee of the amount being transferred, with the maximum charge being $10.

How long does it take to receive a PayPal payment?

If money is sent directly from one PayPal account to another, it will take a few minutes for the money to arrive. If the funds are sent from a bank account, however, the transaction could take 2–3 days to complete.

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Are there any other transaction limits on PayPal?

If you do not have a PayPal account, you can send a one-time payment of up to $4,000. If you have a PayPal account that is verified, there is no limit on the total amount of money you can send from your account. You can send up to $60,000 but may be limited to $10,000, in a single transaction. (However, depending on your currency, this amount may differ.)

If your account is unverified, there is a limit on the total amount of money you can send from your account.

How to withdraw funds

You can cash out any amount on your account. Follow the procedure below to withdraw the money in Nigeria:

  1. Log into your PayPal: Use your password and email address.
  2. Go to the withdrawal tab: Specify the amount you want to withdraw.
  3. Select the withdrawal method: Choose the bank account or cards which will be credited with the funds.
  4. Initiate the process: PayPal will transfer the amount to your account.

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PayPal alternatives

PayPal Nigeria sign up
PayPal Nigeria. Photo: (modified by author)
Source: UGC

There are many other platforms to receive cash online in Nigeria. They include the following:

  • Payoneer
  • Skrill
  • Western Union

Flutterwave has also teamed up with PayPal to allow PayPal users all over the world to pay African merchants using PayPal's "Pay with PayPal" feature.

PayPal contacts

You can reach out to the PayPal care desk via the following number:

  • Phone: 1-402-517-4519

You can also use the live chat feature from PayPal’s message centre. You need to be logged into your account to use it.

Frequently asked questions

Here are some frequently asked questions about PayPal.

Is PayPal banned in Nigeria?

No, it is not. The service is available to all residents of Nigeria.

Can I receive funds through PayPal in Nigeria?

As mentioned earlier, yes, you can, but only with a business account.

How do I make my PayPal account valid in Nigeria?

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To make your account valid, confirm your email address and add a valid Visa or Mastercard.

Where can I use PayPal in Nigeria?

You can use PayPal in any part of Nigeria if you have a legitimate and functional PayPal account.

Which bank uses PayPal in Nigeria?

First Bank joined with PayPal to make it easier for Nigerians to access their money.

Despite being unable to receive funds via PayPal in Nigeria (on a personal account), you can shop online and perform many tasks from the platform. Those with business accounts on PayPal will benefit from the information above on how to receive money through PayPal in Nigeria, as you can only do so on a business account.

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

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