How to withdraw from PayPal to a Nigerian bank account
Table of Contents
How to withdraw from PayPal to a Nigerian bank account
Read all about how to withdraw from PayPal to a Nigerian bank account.
PayPal is a financial technology company that allows you to receive and send money anywhere in the world. You can use PayPal to receive money for your business, send money to your friends and family abroad.
As you should be aware by now, PayPal has placed restrictions on Nigeria, maybe as a result of many of the fraudulent transactions carried out by our citizens.
This restriction prevents Nigerians from receiving funds to their PayPal account, although you can send money to others, pay for products and services.
In this post, I am going to be writing about how to withdraw from PayPal to a Nigerian bank account under the following sub-topics “How to receive funds to a Nigerian PayPal account”, “How to withdraw from PayPal to a Nigerian bank account”, “How to withdraw money from PayPal” and more.
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Let’s get into it then…
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How to receive funds to a Nigerian PayPal account?
Because of the restrictions placed on Nigerian PayPal accounts, it is not possible to receive funds on a personal account. You can only send money, pay for goods and services with the account.
If you want to receive funds to a Nigerian PayPal account, you can only do that by having a business PayPal account. When creating a PayPal account, you will be asked to choose between “personal or business” account.
You should know that if you pick a business account, you will need to undergo some sorts of verification before you are able to receive money on it.
Some people have tried to get around the system by creating a foreign PayPal account i.e. they will not choose Nigeria as their country, and may even use VPN to disguise their IP address. While this may work for a few weeks, it will eventually be detected by PayPal and blocked.
How to withdraw from PayPal to a Nigerian bank account
Another way to withdraw money on PayPal as a Nigerian, and is probably the best way, is to use the PayPal account of any of your friend or family member abroad. If they don’t have a PayPal account, you can ask them to create one, using their details.
When you want to withdraw, they can help you process withdrawal, and they can send you the money via wire transfer, cryptocurrencies or any other means.
This method doesn’t cost anything and it is completely legal and 100% reliable.
How to withdraw money from PayPal?
Before you can withdraw money on PayPal, you will need to add your credit card to your account. Once you have linked your credit card to your bank account, you can withdraw to that bank account.
- Go to wallet in your account
- Click on withdraw money
- Select where you are transferring the money from and then select credit card/bank account
- Choose the amount you want to transfer to your account
- Click on CONTINUE
- Review your request and then click transfer
- A transfer to a bank account typically completes in one business day, but it may take longer depending on your bank.
- You may be subject to fees for each transfer, depending on your bank.
Summary
With the above, you should know all you need to know about how to withdraw money from PayPal to a Nigerian bank account.
If you have any questions, don’t hesitate to leave us a comment, and I will guide you on what to do, or at least point you in the right direction.
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Conclusion
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