How much can OPay account hold without BVN? Your detailed guide to the limits
How much can OPay account hold without BVN? OPay accounts in Nigeria cannot hold any balance without a BVN (Bank Verification Number) or NIN (National Identification Number) as per a Central Bank of Nigeria (CBN) directive that became fully effective in March 2024. Linking your BVN or NIN is now required by law to make banking safer, stop fraud, and ensure every account follows proper KYC rules.
Source: UGC
TABLE OF CONTENTS
- Key takeaways
- How much can an OPay account hold without BVN?
- OPay customer care number
- What is the limit of OPay without BVN?
- What is the maximum amount an OPay account can receive?
- Do you need BVN to open an OPay account?
- Does OPay lock money?
- How much can OPay Tier 1 receive at once?
- How much can OPay Tier 3 receive at once?
- How much can OPay Tier 2 receive at once?
- Can I have two OPay accounts with different phone numbers?
- Can I have two OPay accounts with one NIN?
Key takeaways
- OPay accounts can no longer hold any funds without a BVN or NIN linked to the account.
- The requirement is due to a Central Bank of Nigeria (CBN) directive fully effective in March 2024.
- All accounts, including basic Tier 1, must be fully verified to be active and usable.
- The measure is aimed at enhancing security, combating financial crime, and ensuring compliance with Know Your Customer (KYC) processes.
How much can an OPay account hold without BVN?
According to Vanguard News, all OPay accounts are now required to have a Bank Verification Number (BVN) or National Identification Number (NIN) linked to them to perform financial transactions, in compliance with a directive from the Central Bank of Nigeria (CBN) that became fully effective in March 2024.
Source: UGC
Previously, Tier 1 accounts, which only required a phone number for registration, could be opened without a BVN and operated with limits of ₦50,000 daily transactions and a ₦300,000 maximum balance. However, with the implementation of the CBN directive, these accounts must now be fully verified with a BVN or NIN to be active and usable.
The mandatory linking of BVN or NIN is a regulatory requirement aimed at enhancing security, combating financial crime, and ensuring all accounts comply with strict Know Your Customer (KYC) processes. This measure helps in tracking legitimate transactions and preventing the use of the platform for illicit activities.
What are the OPay holding and transfer limits after linking your BVN?
After linking your Bank Verification Number (BVN) on OPay, your daily transaction limit is determined by your account's Know Your Customer (KYC) tier. The limits vary by account tier as follows:
Tier | Maximum balance | Daily transfer limit |
Tier 1 | ₦300,000 | ₦50,000 |
Tier 2 | ₦500,000 | ₦200,000 |
Tier 3 | Unlimited | ₦5,000,000 |
The daily limit resets 24 hours after the first transaction of the day. OPay also allows users to set additional, self-imposed limits on large transactions for extra security, which can require facial verification for transactions exceeding the set limit.
OPay customer care number
If you need help with your OPay account, you can reach their customer support through several official channels. Here are the main contact numbers you can use:
- Phone: 07008888328 or 02018888328 (App and Card queries)
- Phone: 0700 8888329 or 02018888329 (POS Business queries)
- WhatsApp: +2349165998936
- Email: customerservice@opay-inc.com
- Social media: Facebook, X (Twitter), Instagram
Source: UGC
What is the limit of OPay without BVN?
As of recent Central Bank of Nigeria (CBN) directives, it is no longer possible to use OPay or open a new OPay account without providing a Bank Verification Number (BVN) or National Identification Number (NIN).
What is the maximum amount an OPay account can receive?
The maximum amount an OPay account can receive depends on its Know Your Customer (KYC) tier. For a fully verified Tier 3 account, there is an unlimited maximum balance and a daily transaction limit of up to ₦5,000,000.
Do you need BVN to open an OPay account?
A Bank Verification Number (BVN) or National Identification Number (NIN) is mandatory to open a new OPay account.
Source: UGC
Does OPay lock money?
OPay can lock user money in an account due to suspected fraud, user-initiated security measures, court orders, or non-compliance with Central Bank of Nigeria (CBN) regulations.
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How much can OPay Tier 1 receive at once?
An OPay Tier 1 account can receive a single transaction of up to ₦50,000., provided this amount does not exceed the account's daily cumulative limit of ₦50,000 and maximum cumulative balance of ₦300,000.
How much can OPay Tier 3 receive at once?
An OPay Tier 3 account has no limit on the total amount of money it can hold (an unlimited balance). However, you cannot receive more than a total of ₦5,000,000 in a single 24-hour day across all transactions.
Source: UGC
How much can OPay Tier 2 receive at once?
An OPay Tier 2 account can receive a single transfer of up to ₦200,000.00, as that is the account's total daily transaction limit.
Can I have two OPay accounts with different phone numbers?
You cannot have two separate OPay accounts under your name, as each account is linked to your single Bank Verification Number (BVN) or National Identification Number (NIN) for security and regulatory reasons.
Can I have two OPay accounts with one NIN?
You cannot have two separate OPay accounts with one National Identification Number (NIN) because OPay limits users to a single account that is uniquely tied to their identity for regulatory compliance.
An OPay account cannot hold any funds without a linked BVN or NIN. Under the Central Bank of Nigeria regulations introduced in March 2024, every OPay account must be verified before it can store money or support transactions.
DISCLAIMER: This article is not sponsored by any third party. It 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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Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
