Digital banks such as OPay, PalmPay, Kuda Bank, and Moniepoint may allow you to receive some amount of money to your account without you connecting your BVN. However, you would be restricted from having a certain amount of cash as your account balance in your account. Let’s consider now, how much can these digital banks such as PalmPay, OPay, Kuda Bank, and Moniepoint platforms receive without having your BVN connected. Before that, let’s first consider what BVN means and its importance.
What Is BVN?
BVN stands for Bank Verification Number. This number helps link a customer’s different accounts and helps prevent fraud.
With BVN, the Central Bank of Nigeria can monitor a customer’s credit score and other details of the customer.
How Much Can PalmPay Receive Without BVN In Nigeria?
If you have yet to connect your BVN to your bank account, you could still use PalmPay. However, you can receive a total amount of 300,000 naira. In essence, your PalmPay balance should not exceed 300,000 naira.
You could perform transactions but the funds in your account should not exceed 300,000 naira in total. If you try to carry out transactions when your balance is above 300,000 naira, you will be restricted.
How Much Can OPay Receive Without BVN In Nigeria?
Your Opay can be used to perform transactions and earn money too. With Opay, you can receive funds and transfer funds. However, if you do not have your BVN, you will not be allowed to receive any funds when your balance is 300,000 naira.
This is to say that, if you intend to receive funds above 300,000 naira, you would need to connect your BVN code to your OPay account. This way you upgrade your account, which in turn, would result in allowing you to receive funds.
How Much Can Kuda Bank Receive Without BVN In Nigeria?
Kuda Bank is one of the best digital platforms that you can find in Nigeria. Kuda allows you to perform operations that may require you to ordinarily go to the bank. With Kuda Bank, you cannot receive any money without BVN connected to your Kuda Bank account.
The reason for this is that your account is at tier 0. As a result, you cannot have a balance if the basic requirements of opening a tier 1 account are not met. You cannot make any transaction, to do that, you’ll have to upgrade to tier 1.
How Much Can Moniepoint Receive Without BVN In Nigeria?
Moniepoint remains one of the most used platforms to carry out basic transactions such as sending and receiving money. With Moniepoint, you can get your receive money even though you have not connected your BVN.
Your account balance will be shown to you to enable you to make transaction operations. With Moniepoint, you can carry out transactions without having a balance. However, you may need to upgrade your account (by the inclusion of your BVN) to unlock other offers.
You’ve seen so far the digital banks’ offerings for accounts without BVN. Let’s now consider the steps on how to connect your BVN to your account.
How To Connect Your BVN To Your Digital Banking Account
In this section, you will be reading steps on how to link your BVN to your digital banking account. Let’s get started:
Step 1. Login To Your Banking Account
To connect your banking account, first, you would need to login to your account. Some digital banking account allows you to log in to your account through the website or app. So, any method that is convenient for you can be used.
Step 2. Tap BVN/Upgrade Account
To successfully link your BVN to your account, the next step after logging in is to tap BVN or Upgrade Account. In some apps like OPay, you would see an Upgrade Account.
However, on other platforms, you may see BVN. Regardless, of any option you see, tap on it and be ready to input your BVN digits.
Step 3. Verify Your BVN
You may be asked to double-check your BVN code or may be asked to undergo a verification process. So, be sure that the digits you entered are correctly inputted and that no number is omitted from it.
How much can OPay receive per day?
With Opay, you can receive up to 5 million naira per day. This is if you had upgraded your account to receive such an amount as your account balance.
Does Kuda need BVN?
Yes. You can add your BVN to your Kuda account. This is to upgrade your account. Along with your BVN, your NIN, and other details would also be required.
Which is the best online bank in Nigeria without BVN?
There are a lot of great online banks in Nigeria. They include Kuda, OPay, PalmPay, Moniepoint, etc.
Can I receive foreign currency with my OPay account?
You can receive foreign currencies with your OPay account. Currencies in over 50 countries can be accepted on OPay.
How much can PalmPay receive without BVN?
With PalmPay, your account balance would not be able to exceed 300,000 naira. However, when you include your BVN, you are eligible to receive more than that amount for transactions.
It is important to link your BVN to your account. With your BVN connected, you can make higher transactions and save higher amounts of money on your account.