Palmpay Sign Up: How To Open Palmpay Account Without BVN

Palmpay is greatly appreciated for its usage in the Nigerian economy. The Interface of Palmpay makes is a great choice for a novice to use. The use of Palmpay includes sending and receiving funds, saving, and transactional transfers among others. However, many people have been skeptical about opening an account with Palmpay. One of the causes of their doubt lies in the fact that they would submit their BVN to the platform. Even though it is not advised to submit your BVN just anywhere, Palmpay does not use your BVN for ulterior motives. This article is designed to explain the process of how to open a Palmpay account without BVN.

How to open Palmpay account without BVN using the app

People get scared when it comes to sharing their BVN with Financial institutions. However, with Palmpay you have nothing to be scared of. However, there’s a way you can go about it without giving Palmpay your BVN if you intend to use the app. Here are the procedures to do that.

Step 1: Install the app on Play Store. Playstore is the home of apps, therefore if you want to look get the Palmpay app, you can easily get it from the Google Play store. It is available for Android and iOS users.

Step 2: Launch the app on your smartphone. When you open the app on your phone, do well to register for an account. Regardless of where you are in the country, your application form would be accepted.

Step 3: Provide your personal information, such as your name, address, and password. Do well to confirm your registration by giving them up-to-date information

Step 4: Provide any other information that you asked to present. Other details of your information would also be asked of you.

Step 5: Set up a security PIN. You would be asked to create a PIN for your account to be registered. Make sure your PIN can be easily remembered. If not, your account would not be authenticated.

Step 6: Verify your account. Palmpay may send you a code for you to confirm your account. Also, Palmpay may decide to send an authentication email for you to confirm your account. However, regardless of how the verification process may be, do well to follow due process.

Step 7: Begin to use the Palmpay application. After verifying your account, you would be free to make transactions and transfer to third parties. You can also purchase airtime using the Palmpay application.

How to open Palmpay account without BVN using an agent

Palmpay agents are people that operate Palmpay POS machine and offers to assist the customer with male transactions. But how can they help you open Palmpay account without BVN? Here recite steps to follow to open Palmpay account without BVN using an agent:

Step 1: Do well to visit the Palmpay agent around your area. Make sure you visit the agent during work hours. He/She would be happy to open an account for you without BVN.

Step 2: Do well to provide the required documents. Providing the right information to the Palmpay agent would help you a long way to create an account with Palmpay. This information would include your full name, address, and others.

Step 3: The Palmpay account holder would assist you to complete registration. The agent is a representative of Palmpay. Therefore, he/she would assist you with whatever you need in the completion of the registration. Make sure you cooperate with the agent as he would be requesting other information from you.

Step 4: Create your unique PIN. You would be asked to create a PIN for your account to be registered. Make sure your PIN can be easily remembered. If not, your account would not be authenticated.

Step 5: Receive your account details. You should do well to receive your account details for your account. This would include your account number and account ID.

Step 6: Do well to fund your account. Funding your account would enable you to get a chance of making transactions easily. The agent would guide you on how you would fund your account with the platform. This can be done either using cash or other methods.

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Step 7:Begin to use the Palmpay application. After verifying your account, you would be free to make transactions and transfer to third parties. You can also purchase airtime using the Palmpay application.

Demerits of Opening Palmpay Account Without BVN

CBN Disapproval

CBN does not recognize any user who does but has a BVN. This is because CBN had made a regulation for all banks whose customers are not using BVN to not operate fully. Also, this may lead to serious financial issues causing your account to be restricted. The CBN also allows people to make sure that they provide BVN of their customers to keep track of fraudulent activities.

FAQs

Do I need a BVN to create an even account?

You can open a complete financial account on PalmPay even if you do not have a Bank Verification Number. Put money in your account through bank transfer, card, USSD, or a PalmPay Mobile Money agent. Install the PalmPay app from your app store.

What are the requirements for creating a Palmpay account?

Mobile phone number

First Name.

Last Name.

Create PIN (4 numbers)

Confirm PIN (4 numbers)

Invitation referral code

Can I borrow 20k from Palmpay?

Over time, as you repay your loans consistently and maintain a good credit score, you may be eligible to borrow higher amounts, up to NGN 200,000

What are the limits for a Palmpay account without BVN?

PalmPay account can receive nothing above ₦50,000 at a time without BVN. If you send higher than ₦50,000 to your PalmPay account at once, it will be blocked, and you will not have access to it unless you link your BVN.

Who is a Palmpay agent?

Palmpay agents are people that operate Palmpay POS machine and offers to assist customer make transactions.

Conclusion

You have seen the answer to the question- How to open Palmpay account without BVN, right? For some, it is the safest means of protecting themselves from fraudsters. As explained in the introduction, it is considered a breach if Palmpay discloses your account details with third parties. Do well to try out the steps explained above and give us your feedback!