Opay is a popular mobile bank in Nigeria that allows users to perform a wide range of transactions, including money transfers, bill payments, and more. However, to fully enjoy its features, you may first need to increase your transaction limit.
In this guide, we’ll walk you through the steps necessary to increase your limit on Opay quickly and easily, all you are required is to read and follow the procedures carefully.
How to Increase Limit on Opay
As we all know, it’s a super handy payment platform that allows you to make all types of transactions, including sending and receiving money, top-up data and airtime, pay bills, and perform a whole bunch of other cool stuff.
One surprising fact about Opay and most banks is that the Opay bank also has a transfer limit just like other banks, where there is a specified amount of funds you could transfer at a particular time or day.
The credit limit might be annoying to other users, as they would want to transfer more money, more than the credit limit.
However, as said earlier, this blog is here to help if you wish to increase your Opay account limit in just a few easy steps.
Opay Account Tier
Opay like any other bank, operates a three-tier system, to know the account limits you operate with:
Tier 1
Tier 1 bank accounts are limited to #50,000 naira in daily transactions and #300,000 overall balance. Thus, you are not allowed to deal with more than #50,000 naira per day or have more than #300,000 naira in your account.
To get rid of this account limit, you will need to upgrade your account and send in the required documentation. You need your Bank verification number (BVN) if you want to move to Tier 1.
Teir 2
You aren’t permitted to deal with more than #200,000 naira per day or have more than #500,000 naira in your bank account. When using Tier 2, which has a #500,000 maximum balance and a #200,000 naira per day transaction limit.
You must present a valid ID card, such as a driver’s license, voter’s card, international passport, or NIN, for you to upgrade to a Tier 2 account.
Teir 3
Tier 3 has a #5 million daily transaction limit and a limitless maximum balance, meaning that you are unable to keep too much money in your bank account at any given moment. You cannot transact with more than 5 million naira per day.
You must provide proof of address, including a utility bill, in order to upgrade to a Tier 3 account.
Steps to Increase Limit on Opay
To increase your limit on Opay, you need to follow the steps outlined below:
- Launch the Opay app on your device.
- Log in to your Opay account by entering your login credentials (phone number and password).
- On the Opay mobile homepage, click on the More option located at the bottom right corner of the screen.
- Select the Upgrade Limit tab from the list of options that are displayed.
- Now you have to complete the verification process by providing the necessary information, which may include your name, date of birth, and BVN.
- Once your information has been verified by Opay, your limit will be increased, and you will receive a notification confirming the upgrade.
That’s all! Your Opay limit has been increased after you have followed the procedures carefully. Also, you can now enjoy higher transaction limits and access to more features.
Opay Transfer Limit
The following are all the available Opay transfer limits if you are using your account for transfers:
- Level 1 transfer limit exceeds from #20,000 per transfer to #50,000 per day.
- Level 2 account transfer limit from #50,000 and #200,000 per transfer daily.
- Level 3 account transfer limit is #1,000,000 and #5,000,000 per transfer daily.
- While the merchant account transfer limit is Unlimited.
Opay Customer Service
If you are having issues with increasing your Opay account limit. Then you may contact Opay customer support for more enlightenment:
- Website – https://www.opayweb.com/contact-us/
- Email – customerservice@opay-inc.com
- Facebook – https://www.facebook.com/Nigeria.OPay and https://www.facebook.com/opaymerchants
- Instagram – https://www.instagram.com/opay.ng/
Conclusion
In conclusion, increasing your Opay account transaction limit is a straightforward process that can be completed in a few easy steps. By following the above procedures, you can increase your limit on Opay and enjoy greater access to its features.
Remember to provide exact information during the verification process, and if you encounter any issues. You can always reach out to Opay customer support for assistance.
FAQs
How Much Can I Transfer on Opay per Day?
There is no daily restriction for Opay Merchants, but for new or level 1 accounts. The maximum amount you can transfer is N50,000; for level 2 accounts, it is N200,000; and for level 3 accounts, it is N5,000,000.
What is the Meaning of KYC Limit in Opay?
KYC: What is it? It stands for Know Your Customer. We use KYC as an essential part of our customer onboarding process to better understand Opay app users. Identify users and give them the ability to conduct various Opay transaction levels through the KYC process.
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