I understand how aggravating it might be to have money in your PayPal account but not know how to transfer it to your Nigerian bank account. Coming from someone who makes a living entirely online in Nigeria, I understand how irritating it is to be unable to do so.
I had to pay about N280,000 to my cousin in the United States as a tax payment for utilizing his PayPal to collect my money online a few years ago. Because PayPal is the most popular payment method, it serves as the backbone of every online business.
I do received paymet through wire transfer, but your income had to be above a thousand dollars before this technique could be used for a few of your internet businesses.
When it comes to international financial services, PayPal is quite popular. In December of this year, there were 305 million Paypal users. The service is used to send and receive payments via the internet.
Paypal users in the United States, Canada, the United Kingdom, and other countries may effortlessly send and receive money. Nigerians, on the other hand, can utilize this payment service, but only with very restricted alternatives.
Because of the restriction, they could only send money to family and friends, as well as pay for goods and services. Most people in Nigeria have grown frustrated with having money in their PayPal account but not knowing how to transfer it to their bank account in Nigeria.
Nigerian users have found it extremely difficult to withdraw to their bank accounts in Nigeria as a result of the restriction. This was due to PayPal’s decision to ban Nigerians from receiving payments through PayPal in Nigeria for a variety of reasons.
The Good News
Now, there’s excellent news for Nigerian PayPal users: they’ll be able to accomplish the following:
- If you run a dropshipping business, you may now receive money directly to your bank account.
- If you work in affiliate marketing, you can get paid directly to your bank account.
Make money on Upwork, Fiverr, and other online sites where you may make money as a freelancer.
- PayPal may now be used instead of payment gateways such as Interswitch, Paystack, Rave Flutterwave, and others by website owners.
To Make A Withdrawal From Your Bank Account
Your credit card must be added to your account. You can withdraw money from your bank account in Nigeria after your credit card has been connected to it.
- Go to your account’s Wallet.
- To withdraw money, click the Withdraw money option.
- Choose the account from which you’ll be sending funds, and then the credit card or bank account from which you’ll be transferring funds.
- Select the amount you wish to send to your Nigerian bank account.
- Continue by pressing the Enter key.
- After you’ve reviewed your request, click Transfer.
- Please contact your bank directly for more information.
How to Use the PayPal App to Withdraw Money from a PayPal Account to a Nigerian Bank Account
- Go to your PayPal account and check your balance.
- Select Withdraw Money from the menu.
Things to Keep in Mind
A bank account transfer usually takes one business day to complete, however it may take longer depending on your bank’s clearance process.
Paypal only accepts payments in your home currency. If you have a PayPal account in the United States (USD) and wish to send money to a bank account in Nigeria (NGN), you may be charged cross-border conversion costs.
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