A verified account offers increased transaction limits, protection against fraud, access to additional features, and ease of conducting business.
However, the verification process can be a bit complicated, especially if you are unfamiliar with the steps involved.
What is PayPal Business?
It provides businesses with a platform for managing their transactions, invoicing, and receiving payments from customers around the world.
PayPal Business offers various features, including customizable invoicing, inventory management, and financial reporting, to help businesses streamline their operations and manage their finances effectively.
Why Should I Verify my PayPal Business Account?
In this article, we will discuss the importance of verifying your PayPal account.
1. Increased Transaction Limits
When you create a PayPal account, you have limited access to the system’s features. However, once you verify your account, you will gain access to higher transaction limits.
A verified PayPal account allows you to send and receive more significant amounts of money, which is particularly useful if you are conducting international transactions.
Verification also helps you to build trust with your customers and suppliers, increasing your credibility in the market.
2. Protection Against Fraud.
One of the most significant advantages of verifying your PayPal account is protected against fraud.
PayPal’s verification process involves verifying your identity and linking your account to a bank account or credit card.
This step helps to ensure that you are the rightful owner of the account and helps to prevent fraudulent activities, such as hacking or identity theft.
Additionally, PayPal has a buyer protection policy that offers protection to buyers in case of fraudulent transactions or disputes with sellers.
3. Access to Additional Features.
Verifying your PayPal account grants you access to additional features that are not available to unverified accounts.
Verified accounts also have access to PayPal’s Mobile App, which allows you to manage your account, track transactions, and make payments on the go.
4. Ease of Conducting Business.
You can also link your PayPal account to your e-commerce website, making it easier for customers to make payments.
How do I Verify my PayPal Business Account In Nigeria?
1. Create a PayPal Business Account.
It’s not news that PayPal Business is not supported In Nigeria, all we have In Nigeria is PayPal for the individual which only supports sending and spending money but does not allow people to receive money.
I wrote a comprehensive guide on how to do that, Check out the link to the article below to learn more.
2. Add Business Information.
You should ensure that the information you provide is accurate and matches the details on your business documents.
3. Link a Business Bank Account
The next step is to link your Nigerian bank account to your PayPal Business account. Linking your bank account allows you to verify your PayPal account thereby lifting any unnecessary limit put in place by PayPal.
The bank account to be used is not your usual Nigerian Bank account or credit card, if you do that you will be kicked out of PayPal.
This is very possible, I know it may be a bit odd, but that is all you need to verify your PayPal account without hassle.
To do this, click on “Link a Bank Account” and provide the required details, such as your bank account number, bank name, and account type.
You should check your bank statement to find out the exact amount of the deposits and then enter the amounts on the PayPal website to confirm your bank account.
I wrote a comprehensive guide on how to register an LLC in the US as a Foreigner. Check out the link to the article to learn more.
4. Confirm Your Email Address
You need to confirm your email address to complete the verification process. PayPal will send you an email with a confirmation link. Click on the link to verify your email address.
5. Confirm Your Identity
To confirm your identity, you need to provide PayPal with your national identification card or driver’s license.
Make sure this is your Nigerian identity, having a Nigerian passport will do you a great job, make sure you dont falsify it. Once you have completed all the steps, PayPal will review your
The verification process may take some time, but it is a necessary step to unlock the full benefits of using PayPal as a payment system.
If you haven’t yet verified your PayPal account, we recommend that you do so as soon as possible to enjoy these benefits.
Finally, verifying your PayPal Business account in Nigeria is essential for conducting international transactions and expanding your business. Follow the steps outlined above, and you will be able to verify your account successfully.