How to withdraw PayPal Funds to a Nigerian Bank Account is one of the hottest nightmares for digital marketers and online entrepreneurs, and I get it because I was there.
While a lot of Nigerians have resorted to buying PayPal account of various types, such as, USA PayPal account, Canada, UK, Germany, and etc., my advice is, keep everything legitimate so you can always prove account worthiness.
And in case you do not know why PayPal is so popular. Truth is, since 1980 PayPal debuted, it has been a go to low-volume payment processor for thousands of merchants online.
According to Marketland, PayPal operates in more than 200 countries and in 26 currencies and allows various users to integrate PayPal checkout on their websites, blogs, and even extend credit to customers.
And as a Nigerian, if for instance, you are a freelancer on Upwork or Fiverr, you will agree with me that you have PayPal as one of the alternative payment processors.
The Nigerian Struggle with PayPal as a 100% payment processor
If you’ve been into online business for a long time you would have seen the petition Nigerians signed on Change.org demanding PayPal to allow us to receive and send funds –
Before it was closed, the petition had since received over 1,500 supports.
Personally, I could remember when I sold and withdrew my PayPal funds at N320 per dollar I received for a friend from abroad via a local exchanger.
To me, I was happy because I could get the funds in Naira to my bank account.
But in 2020, the story had since changed, and now, I don’t just withdraw PayPal funds on my own, I do it in less than 10 minutes, and most interestingly, you can get your funds at the best rate, up to ₦505+/$. Amazing, right? Yeah.
The best news is that today, you too will learn how to withdraw your PayPal funds to your Nigerian bank account.
Without further ado, let me now show you the steps to withdraw money from PayPal in Nigeria.
P.S : You can jump to the last section if you want to see how I do it.
Withdrawing PayPal funds to a Nigerian bank account is a simple and straightforward process.
The first way to withdraw PayPal funds is to use a local exchanger or via bank card. Let’s do it on our own without any third party.
1. Use a Verified PayPal account
The very first step to withdraw your funds is to make sure you use a verified PayPal account.
But before that, make sure that you didn’t use invalid information to open your PayPal account.
That is to say, you are in Nigeria but you used Dubai or kafanchan document details. More on this later and why I closed my first PayPal account.
To verify your PayPal account, first, go to the email address you used during the PayPal account opening and click the link sent.
Here is how it looks like.
Before we go on, here is how to open the account.
2. Add and Link your credit card to your Account
Upon verifying your PayPal account, the next step of action is to link a bank card from which you will be able to withdraw the funds.
For the bank card to use, there are lots of them but cards from UBA AND Firstbank trumps others. Well, Zenith and GTB are quite popular but I once tried GTB some time ago and it didn’t work.
Below are the 3 cards and the denominations I recommend based on first-hand usage and experience.
The Best 3 Credit Cards to Link to PayPal for Withdrawal in Nigeria
For the bank card to use, there are lots of them but the best and most recommended is in the following order.
- Using UBA AFRI Card – Dollar dominated
- Using UBA AFRI CARD – Naira
- Using FirstBank Card – Gold Card
The above are my go-to cards to work with PayPal from Nigeria. Let’s talk about them.
Using UBA AFRI Card – Naira
All UBA Afri cards give you instant withdrawal- that’s a major advantage. The only disadvantage with the Afri Naira card-dominated is that you will get your funds at a VERY LOW EXCHANGE VALUE using the local bank rate as compared to the dollar-dominated.
Withdrawing to your Bank Account in Naira
To get the withdrawal, all you need to do is link it to your PayPal account and transfer it to your card and you will get it in your bank account after being processed.
Using UBA AFRI Card – Dollar
I recommend Using UBA AFRI Card – Dollar if you want to get the best exchange rate for your funds. How?
While the UBA AFRI CARD – Naira gives you a low and local bank rate of about ₦400+ currently, with the AFRI Card dollar-dominated, you can exchange by selling the funds using fnfSwap at ₦505+/$ – for the best value.
Withdrawing to your Bank
To get the withdrawal, all you need to do is link it to your PayPal account and transfer it to your card and you will get it in USD. From there, you can exchange it using fnfSwap at a high rate.
Using FirstBank Visa Card – Gold Card
The FirstBank card that enables withdrawal from PayPal is called Visa Gold Card. So, should you be going for this one, you want to ask for a FirstBank Visa Gold card.
I wouldn’t talk more about the FB Visa Gold card since withdrawals are not swift as compared to UBA cards.
P.S: note that all these cards are VISA…
UBA Afri Dollar vs Naira vs FirstBank Visa Gold Card
Why I prefer the UBAs is that their withdrawal is instant as compared to the FirstBank Gold card which the withdrawal might reflect from 1-5 or 7 days.
Later on, we will talk about the best withdrawal method to save you all the stress.
Now when you add your bank card details to the account, you will get a 4 digit code to input and verify the card linkage.
To do this, click on “Payment”.
From there, go to “Link a new card”.
When done you will have been 70% ready to withdraw your PayPal funds to your Nigerian Bank account.
Before we go on, here is how to link card to account.
3. Withdraw the Funds from PayPal with a $5 charge
Receive PayPal funds. For some of us that do not know, we use an email address as the account number to receive PayPal funds from other accounts.
To do that just copy your email address linked to the PayPal account and give it to the sender to send the funds.
Going on, having been convinced that we’ve received PayPal funds and it’s available in your account, I recommend you to leave the funds for about 24 hours “if it is a new PayPal account”.
The reason is, as a new PayPal account user, you need to build a good reputation with your PayPal account first.
Finally, to withdraw the funds, look at your top right corner and click on “Transfer”.
Go ahead and select the card you want to send the funds to (if you linked more than 2 bank cards).
Enter the details of the linked bank account and finally click on withdraw and confirm the transaction, and $5 will be charged.
When done, you will get a notification of a successful transaction.
Kindly note that the $5 is constant. Meaning, whether you withdraw $600 or $1,000 you will still be charged $5 in fees.
Here is how it looks like.
4. Receive it in your Bank account
Finally, receive the funds from your bank account.
Basically, you will get a PayPal account notification that you’ve sent money to your local bank account.
For the First bank withdrawal, you might receive the funds in your account after 1-5 or more business days based on the transacting process.
And for UBA, it is faster and usually, it is instant.
Here is the final withdrawal process.
Those are the basic steps you need to withdraw PayPal funds to your local bank account here in Nigeria doing it yourself.
See a recent PayPal in Nigeria transactions
Received for a Nigerian client for a service rendered – 8 days ago.
Received from a client for a service rendered – 4 days ago.
Withdrawal and exchange for a client in NAIRA via fnfSwap – 7 days ago.
Payment in Naira using the HIGHEST exchange rate in the country – via fnfSwap
By the way, this transaction is enabled through – “IsuaWealthyPlace Publishers” – a legal and registered Business Name with Corporate Affairs commission in the Federal Republic of Nigeria with the BN: 3560824
How to withdraw PayPal Funds with the HIGHEST EXCHANGE RATE in Nigeria
Whether you are using UBA Naira or Dollar and FirstBank Visa Gold Card, you can save yourself the stress of LOW & LOCAL exchange rate of ₦400+/$ and get it instead at ₦505+/$. (Why should the bank cheat you that much?).
Here is how.
Using fnfswap by Isuawealthyplace, you can exchange your funds at ₦505+/ to get the best value for your money.
Step 1. Transfer the PayPal funds using fnfSwap.
Step 2. Wait for authentication and verification through PayPal – mostly 30-45mins.
Step 3. Receive the Naira equivalent INSTANTLY TO YOUR NIGERIAN BANK ACCOUNT!
➡️➡️ Check out the payment process + testimonies from others
Get a freemium PayPal Operation Guide in Nigeria
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Ordinarily, I would have given it FOR 100% FREE but Nigerians do not value anything given out for free. They are like “it’s not worth it”.
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Things to Know Before Receiving Funds to Your PayPal Account – From Experience
You need to take note of this vital information because when I discovered this, I quickly went on to close my PayPal account and opened a new one.
NEVER EVER use the wrong information to open your PayPal account. You know why?
If you use wrong information to open the account, a time will come when you will have to verify it because as you receive lots of funds above the threshold your account can carry, you will need to tell PayPal that the transactions are legit.
On the other way round, if you had used the wrong information to open it, you will need to use the same information to verify it, else, your account will be locked up by PayPal, and what next?
PayPal will give you more days to verify the information, and if as a result, you can’t still verify it, you will be allowed to login and withdraw the funds, then your account will get closed permanently.
So, to open a valid PayPal account, use only valid information. That is your real name, email address, and home address.
When I discovered that I was about to reach the threshold, I closed it for good.
(This was in February 2021)
How to Avoid 21 or 180 days PayPal Funds Holding
Now, if you experience a 21-day hold on your funds, it is because you received a high figure amount of money in your PayPal account too early.
That is to say, if you opened your PayPal account today and next tomorrow you receive $300-$400+, your funds will be on hold for 21 days.
Here is a sample of the funds when it was on hold for 21 days when I first opened the PayPal account and received about $400 sent to a friend of mine from Abroad in early 2020.
However, as you have seen above, the new PayPal account I opened a few days ago after deleting my main account just received $350+ and it was available on the main balance and not on hold.
Here are a few things you can do to clear your Funds from “on Hold”
Receive a small amount of PayPal funds first to warm up the account so it can earn PayPal trust.
I will tell you more in the Blueprint.
Question: Can I withdraw money from PayPal in Nigeria?
Answer – yes, you can. I just showed how I went about it in the video and screenshots.
Question: Can I receive PayPal money in Nigeria?
Answer – yes, you can. Nigerians can now legitimately send and receive funds without having to use invalid information.
Question: Do I have to use a VPN before I open the PayPal money in Nigeria?
Answer – no. All you need to open a verified account is a mobile phone and internet connection.
Question: Do I need to use a PayPal Business account for a transaction?
Answer: Yes/No. For the yes. A Business account can be opened in any country and operated from anywhere because it is assumed that you are using it for your businesses around the world.
And for the “No”, the advantage of a personal account above a business is that there are a few verification processes needed as compared to a business account.
All in all, that’s how to withdraw PayPal funds to any of your Nigeria bank account and using the fnfSwap method for the exchange rate.
Over to you.
Let me know what you think and your questions in the comment section.