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> Home How to Upgrade Your Opay Account to Send and Receive Huge Amount of Money

How to Upgrade Your Opay Account to Send and Receive Huge Amount of Money

Sandy by Sandy
July 5, 2023
in Business
0

Opay is a widely used online finance platform in Nigeria that provides users with a convenient way to save, transfer, withdraw, and perform various banking transactions. However, when you initially open an Opay account, you may encounter limitations on the amount of money you can send and receive. To unlock higher transaction limits and access advanced features, it is essential to upgrade your Opay account. In this comprehensive guide, we will take you through the step-by-step process of upgrading your Opay account to send and receive substantial sums of money.

Understanding Opay KYC Levels:

Opay operates on a tiered account system called KYC (Know Your Customer) levels. Each KYC level corresponds to specific transaction limits and requirements. Upgrading your Opay account allows you to progress through these levels and enjoy increased transaction capabilities. Let’s explore the different KYC levels and their associated limits:

KYC Level 1:

  • Maximum account balance: ₦50,000
  • Maximum daily transaction: ₦50,000
  • Requirements: None

KYC Level 2:

  • Maximum account balance: ₦300,000
  • Maximum daily transaction: ₦200,000
  • Requirements: Bank Verification Number (BVN)

KYC Level 3:

  • Unlimited maximum account balance
  • Maximum daily transactions: ₦5,000,000
  • Requirements: BVN, Identity (ID) Card, selfie, recent utility bill

Now that we understand the different KYC levels and their corresponding limits, let’s dive into the detailed process of upgrading your Opay account.

Step 1: Gathering the Necessary Documents:

Before proceeding with the upgrade process, ensure that you have the required documents at hand. These documents will vary based on the KYC level you wish to upgrade to. Here’s a checklist of the essential documents you will need:

  • Bank Verification Number (BVN)
  • Identity (ID) Card
  • Selfie
  • Recent utility bill

Step 2: Upgrading to KYC Level 2:

To upgrade your Opay account to KYC Level 2 and unlock higher transaction limits, follow these steps:

  1. Launch the Opay app on your mobile device and log in to your Opay account using your credentials.
  2. Once you are logged in, navigate to your account dashboard.
  3. Look for the profile image icon located at the top left corner of the screen and click on it.
  4. Scroll down the options until you find the “Upgrade to KYC 2” button.
  5. Click on the “Upgrade to KYC 2” button and proceed to fill in the required information.
  6. Ensure that you enter accurate and up-to-date information to expedite the verification process.
  7. Submit the necessary documents, including your BVN, and any other requested information.
  8. Once all the information has been provided, submit your application for review.
  9. Opay will review your application, and upon successful verification, your account will be upgraded to KYC Level 2.
  10. You will receive a confirmation notification informing you of the successful upgrade.

Step 3: Upgrading to KYC Level 3:

To further enhance your transaction capabilities, you can upgrade your Opay account to KYC Level 3. This level provides unlimited maximum account balance and higher daily transaction limits. Follow these steps to upgrade to KYC Level 3:

  1. Open the Opay app on your device and log in to your account.
  2. On your account dashboard, locate the profile image icon at the top left corner of the screen.
  3. Click on the profile image icon to access the account settings menu.
  4. Scroll down the menu options until you find the “Upgrade to KYC 3” button.
  5. Tap on the “Upgrade to KYC 3” button and proceed to provide the necessary information.
  6. Fill in the required fields accurately, including your BVN, Identity (ID) Card details, selfie, and recent utility bill.
  7. Double-check all the information to ensure its accuracy and completeness.
  8. Submit your application for review and verification.
  9. Opay will review your application, and upon successful verification, your account will be upgraded to KYC Level 3.
  10. You will receive a confirmation notification once the upgrade process is complete.

Conclusion

Upgrading your Opay account not only expands your transaction capabilities but also enables you to enjoy the full range of features and benefits offered by Opay. Whether you need to conduct large transactions, manage higher account balances, or engage in commercial activities, upgrading to higher KYC levels or a merchant account provides you with the flexibility and convenience you require.

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With your upgraded Opay account, you can confidently send and receive substantial amounts of money, making your financial transactions more efficient and seamless.

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Sandy

Sandy

I am Sandy, a Bachelor's degree holder in Mass communication from Delta State University

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