How much can Opay Account hold without BVN?

Electronic payment platforms like OPay have emerged as convenient and secure alternatives to traditional banking methods. 

OPay, a prominent Nigerian fintech company, offers a range of financial services, including mobile payments, money transfers, and airtime purchases. To ensure the security and integrity of its platform, OPay has implemented account verification procedures, with the BVN being a key element. A BVN is a unique 11-digit number linked to an individual's bank account, serving as a crucial identifier for financial transactions in Nigeria.

This guide delves into the everything you need to know about How much can Opay Account hold without BVN.

Features and Benefits of Opay 

OPay is a leading mobile money platform in Nigeria that provides a wide range of features and benefits to its users. Here are some of the key features of OPay:

• Mobile payments: Send and receive money instantly and securely using your mobile phone.
• Airtime and data top-ups: Top up your own phone or others with airtime and data from any network in Nigeria.
• Bill payments: Pay your electricity, water, and other bills directly from the OPay app.
• Savings and investments: Save money and earn interest with OPay's savings and investment products.
• Loans: Get access to quick and easy loans to meet your financial needs.
• QR code payments: Make payments at merchants by scanning QR codes.
• OPay agents: There are over 500,000 OPay agents across Nigeria, so you can always find someone to help you with your transactions.
• Convenience: OPay is a convenient and easy-to-use platform that makes it easy to manage your finances.
• Security: OPay is a secure platform that uses the latest technology to protect your money and personal information.
• Affordability: OPay's fees are very competitive, making it an affordable option for everyone.
• Accessibility: OPay is accessible to anyone with a mobile phone, regardless of whether they have a bank account or not.
• Variety of services: OPay offers a wide range of services that can meet all of your financial needs.

 

How to Register or Create an Opay Account 

Creating an OPay account is a straightforward process that can be completed in just a few minutes. 

Download the OPay app: The first step is to download the OPay app from the Google Play Store or Apple App Store. Once you've downloaded the app, open it and tap on the "Sign Up" button.

Enter your phone number: Enter your valid Nigerian phone number and tap on "Next." You will receive a verification code via SMS to the entered phone number.

Verify your phone number: Enter the verification code you received and tap on "Verify." This will verify your phone number and link it to your OPay account.

Create a password: Set a strong password for your OPay account and tap on "Next." Make sure to use a combination of upper and lowercase letters, numbers, and special characters for added security.

Provide your personal information: Enter your first name, last name, and email address. Ensure the information is accurate and matches your official documents.

Review and agree to terms: Review the terms and conditions of using OPay and tap on "Agree." Once you agree to the terms, your OPay account will be created.

Upgrade your account (optional): To increase your transaction limits and access additional features, you can upgrade your OPay account to Tier 2 by verifying your Bank Verification Number (BVN). This process involves linking your OPay account to your bank account and verifying your identity.

Start using OPay: Once your account is created, you can start using OPay to send and receive money, make payments, buy airtime and data, and access other financial services.

How much can Opay Account hold without BVN

Opay has 3 tiers 

• Tier 1
• Tier 2
• Tier 3

The maximum amount an OPay account can hold without a Bank Verification Number (BVN) is N50,000. This is because an OPay account without BVN verification is classified as a 'Tier 1' account, which has a maximum wallet balance of N300,000 and daily transactions of N50,000.

If you verify your OPay account with your BVN, your account will be upgraded to 'Tier 2', and you will be able to hold a maximum wallet balance of N500,000 and daily transactions of N200,00. You will also be able to send and receive larger transactions, and you will have access to additional OPay services, such as international money transfers, bill payments, and online shopping.

For the tier 3, the maximum wallet balance is any amount and daily transactions of N5M.

FAQS

How can I increase my OPay account limit?

The only way to increase your OPay account limit is to verify your account with your BVN. Once you verify your account, you will be upgraded to 'Tier 2' and you will be able to hold a maximum wallet balance of N300,000.

What is the difference between Tier 1 and Tier 2 OPay accounts?

The main difference between Tier 1 and Tier 2 OPay accounts is the maximum wallet balance and transaction limits. Tier 2 accounts also have access to additional OPay services, such as international money transfers, bill payments, and online shopping.

Can I still use my OPay account without verifying my BVN?

Yes, you can still use your OPay account without verifying your BVN. However, you will be subject to the Tier 1 account limits. This means that you will only be able to hold a maximum wallet balance of N300,000 and daily transactions of N50,000

What are the benefits of verifying my OPay account with my BVN?

There are many benefits to verifying your OPay account with your BVN. These benefits include:

• Increased wallet balance and transaction limits
• Access to additional OPay services
• Enhanced security for your transactions
• Reduced risk of fraud

What is the highest amount OPay can receive?

The highest amount OPay can receive depends on the verification level of the user. But You will be able to receive up to N5 million per day.

What is the limit of Tier 2 in OPay?

With a Tier 2 OPay account, you can do everything, like receive money, make payment requests, e.t.c but the maximum amount you can send is 50,000 Naira per transaction and not more than 200,000 Naira a day.

To upgrade your account to Tier 2, you will need to verify your identity and provide your BVN (Bank Verification Number). Once you have verified your account, you will be able to enjoy all of the benefits of a Tier 2 account

Can I receive dollars with OPay?

OPay is a mobile money platform that allows users to send and receive money, make payments, and buy airtime and data. The platform is now available in over 50 countries around the world and supports multiple currencies, including USD, EUR, CAD, AUD, and GBP. This means that users can now receive money from friends and family in other countries.

Conclusion

Understanding OPay account limits without BVN is essential for managing your finances effectively and utilizing the platform to its full potential. While a non-verified account has its limitations, verifying your BVN opens up a world of possibilities, allowing you to transact with greater ease and security.