How To Upgrade OPay Account For Large Money Transfers: The Fastest Way

OPay is a popular online finance platform that allows users to save, transfer, withdraw, buy airtime, and perform a wide range of banking transactions.

However, like traditional banking, there are different account types and levels on OPay, each with its own requirements and limits.

If you’ve just created an OPay account, you may be limited in the transactions you can make. To access more features and higher transaction limits, it is important to upgrade your OPay account.

In this article, we will guide you through the process of upgrading your OPay account, including the different account levels, their limits and requirements, and step-by-step instructions on how to upgrade your OPay account for large money transfers.

About Opay KYC Level

How To Upgrade Opay Account For Large Money Transfers
Opay

OPay, like many other financial platforms, has a system of account levels known as Know Your Customer (KYC) levels. The KYC levels are designed to ensure the safety and security of users’ personal and financial information.

Also Read
How To Start Dropshipping Business In Nigeria [year]: Learn From An Expert

Each level has different requirements and limits, with higher levels offering more features and higher transaction limits.

The Tier 1 level is the starting point for all new OPay accounts. With a Tier 1 level account, users can make a single transactions up to ₦50,000 limit with a daily limit of ₦50,000. The maximum account balance for a Tier 1 level is ₦300,000.

To upgrade to the Tier 2 level, users will need to provide additional personal information and verify their identity. The Tier 2 level has higher limits and more features than the Tier 1 level.

To upgrade to the Tier 3 level, users will need to provide even more personal information and pass a credit check. This includes providing a valid government-issued ID and proof of address. Tier 3 has higher limits and more features than the Basic level.

The Tier 3 level has even higher limits and more features than the Tier 2 level. Finally, the merchant account is the highest level on OPay and offers the highest limits and most features.

It is important to note that providing accurate and up-to-date information is crucial to upgrading your OPay account. Inaccurate or incomplete information may delay the process or result in your application being denied.

OPay may periodically require users to update their information to ensure that it remains accurate and up-to-date.

All Opay KYC Levels

All Opay Kyc Levels
All Opay Kyc Levels

OPay has a Know Your Customer (KYC) level system where users can upgrade their accounts to access higher limits and more features. The following are all the OPay KYC levels and their respective limits:

  • Tier 1: This is the starting level for all new OPay accounts. Users can have a maximum account balance of ₦300,000, a single transaction of ₦50,000 and a maximum daily transaction limit of ₦50,000.
  • Tier 2: To upgrade to this level, users will need to provide additional personal information and verify their identity. This level has a maximum account balance of ₦500,000 and a maximum daily transaction limit of ₦200,000.
  • Tier 3: To upgrade to this level, users will need to provide even more personal information. This includes providing a valid government-issued ID and proof of address. This level has an unlimited maximum account balance and a maximum daily transaction limit of ₦5,000,000.
  • Opay merchant account: This is the highest level on OPay and is designed for businesses and merchants. It offers an unlimited maximum account balance and unlimited daily transactions.
Also Read
How To Borrow Data From MTN - ([year] Guide)

That’s all about Opay KYC Levels, now let’s see how to upgrade your Opay account to those levels respectively.

How To Upgrade Opay Account Level

Upgrading an OPay account is similar to upgrading a normal bank account in terms of the required documents and information.

However, the requirements for upgrading an OPay account are flexible and only require a Bank Verification Number (BVN), an ID card, a selfie and a recent utility bill, making it a convenient process.

Opay Verification Requirement
OPay Verification Requirement

How To Upgrade Opay Account To Tier 2

To upgrade your OPay account to tier 2, you can follow these steps:

  1. Open the OPay app on your device and log in to your account.
  2. Tap on the “Profile Image” icon located at the top left corner of the screen.
  3. Select “Upgrade Account” from the menu options.
  4. Review the requirements and limits for the level you wish to upgrade to.
Also Read
How To Unshare Data On Glo (2 Easy Steps)

That’s all on how to upgrade Opay account to tier 2. Now, let’s proceed to tier 3.

How To Upgrade Opay Account To Tier 3

To upgrade your OPay account to tier 2, you can follow these steps:

  1. Open the OPay app on your device and log in to your account.
  2. Tap on the “Profile Image” icon located at the top left corner of the screen.
  3. Select “Upgrade Account” from the menu options.
  4. Review the requirements and limits for the level you wish to upgrade to.
  5. Gather the necessary documents, including a valid government-issued ID card, a selfie, and a recent utility bill.
  6. Provide the necessary information and upload the required documents in the Opay app
  7. Submit your application and wait for it to be reviewed and approved by OPay.
  8. Once your application is approved, your account will be upgraded and you will be able to access the new features and higher limits associated with the new level.
Also Read
How To Become A Music Producer In Nigeria

Finally, Let’s check how to upgrade Opay account to a merchant account.

How To Upgrade Opay Account To A Merchant Account

Upgrading your Opay account to a merchant account requires installing Opay Bussiness App.

This can also be done in a similar way to the above levels. All you need is to follow the steps below.

  • Open the Opay app and log in to your account.
  • Tap on the “Profile Image” icon located at the top left corner of the screen.
  • Now, scroll down a little and click on the “Upgrade to Merchant” button.
  • You will be redirected to a page that asks you to install the Opay Bussines app Directly from Play Store or Appstore.
  • After installing the app sign in using your current Opay account.
How To Upgrade Opay Account For Large Money Transfers
How To Upgrade Opay Account For Large Money Transfers

Navigate to the Menu at the top left corner of the app select upgrade then fill in the details

Requirements For Upgrading Opay Account To A Merchant Account

These are the Requirements For Upgrading Opay Account To A Merchant Account:

  1. Business Name/Store name
  2. Bussines category
  3. Business address (State, City, LGA)
  4. Picture the storefront

That’s simply how to upgrade your Opay account to a merchant account.

Frequently Asked Questions About How To Upgrade OPay Account

What Do I Need To Upgrade My Opay Account?

To upgrade your OPay account, you will need to provide the following:

Also Read
Easybuy Loan App: How To Buy Easybuy Phones In [year]

1. A Bank Verification Number (BVN): This is a unique identification number that is used to verify your identity and protect against fraud.

2. A valid government-issued ID card: This can be a passport, national ID card, or driver’s license. The ID card must be valid and in good condition.

3. A selfie: OPay may require a recent photo of yourself to confirm your identity.

4. A recent utility bill: This can be a bill for electricity, water, or internet service, and it should be in your name and show your current address.

How Can I Upgrade My Opay Account?

To upgrade your Opay account, simply log in to your Opay account then click on your profile image icon located at the top left corner of your Opay app, then click on the button to upgrade your account and fill in the required details.

Conclusion

In conclusion, upgrading your OPay account is a simple process that can be done through the OPay app. By providing the necessary information and documents including BVN, a valid government-issued ID card, a selfie, and a recent utility bill.

Users can access higher limits and more features on the platform. Remember to plan accordingly as the upgrade process may take some time and ensure that the information provided is accurate and up-to-date.

With upgraded accounts, users can enjoy a more robust and convenient financial experience on the OPay platform.

Leave a Comment