Do you know you can unlock the power of seamless transactions and take full control of your financial freedom with PalmPay?
PalmPay digital banking is a game-changing mobile payment platform that defies the limits of traditional banking.
Hello! Picture this: a world where you can receive funds within Nigeria without the stress of providing your BVN.
You heard me correctly.
With PalmPay, your opportunities are boundless, empowering you to receive and manage funds effortlessly.
You don’t have to worry about linking your Bank Verification Number (BVN) unless the funds you want to transact are huge amounts.
How to Open a PalmPay Account
The two different methods of opening a PalmPay account depend on the device you are using.
If you are an Android smartphone user, you’ll need to follow the method that works for Android smartphone users, and if you’re an iOS user with iPhone or iPad, then use the iOS method.
Using an Android Phone
Follow these steps to open a PalmPay account on your Android phone:
- Download the PalmPay app on your Android device from the Google Play Store.
- Launch the app and sign up on your device.
- Once you sign up, check beneath your screen, and you will find four options.
- Click on it, and then tap on the sign-up button.
- You will receive your phone number (a verification SMS will be sent to your phone number).
- Type in your legal first name, middle name (optional), last name, date of birth, gender, and invitation code (optional) to sign up.
- Once you have entered all those details, click on the sign-up button to sign up.
- Set your PIN, which is a 4-digit number.
- The PIN will be used to log in to your account and will also serve as transaction authorization.
- Once this is completed, you will get a free ₦110 bonus.
- Make sure you use a PIN you can easily remember.
- Do KYC by submitting your BVN, NIN, and any required documents that would verify you as a user.
Using iPhone or iPad
Follow these steps to open a PalmPay account on your iPhone or iPad:
- Go to the Apple store and type PalmPay, click on it to download, install, then launch it.
- When you have launched it, check beneath the screen; there, you will see four options; click on Me. Then, tap on the sign-up button.
- To sign up, enter your phone number (verification SMS will be sent to the number), legal first name, middle name (optional), last name, date of birth, and gender.
- Once entered, click the sign-up button.
- Upon successful sign-up, you will get a free ₦110 bonus.
- Do KYC by submitting your BVN, NIN, and any other necessary documents verifying you as a user.
How Much Can PalmPay Receive Without a BVN?
Your PalmPay account can receive nothing above ₦50,000 per time without BVN.
If you send more 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.
How Much Can PalmPay Hold Without BVN?
Without BVN, your PalmPay account cannot hold more than ₦300,000.
If you allow more than ₦300,000 in your PalmPay account, it will be blocked, denying you access to it unless you link your BVN.
So, if you don’t want to link your BVN to your PalmPay, stick to a maximum of ₦300,000.
How to Link Your PalmPay Account to Your BVN
Follow these steps to link your PalmPay account to your BVN:
- Write out your BVN.
- Open the PalmPay app.
- Go to the settings on the profile section within the PalmPay app, scroll down to where you will see ‘authentication’ click on it.
- Once you tap on authentication, it will take you to the next page, where you will see BVN. Click on it.
- Enter the 11-digit number, which is the BVN you wrote earlier.
- Upon entering your BVN, you may be requested to consent for PalmPay to access your BVN details.
- Read the terms and conditions carefully, including other information, before granting the permissions to continue.
- You will receive a confirmation message or notification within the PalmPay app if your BVN verification is successful.
- Once you get this message or information, your account has been successfully linked to your BVN.
Benefits of Linking Your PalmPay Account to Your BVN
There are so many benefits associated with linking your PalmPay to your BVN and below are some of them:
1. Enhanced Security
Your BVN is a unique number with your personal and biometric information, such as your fingerprint, demographic data, and photographs.
Linking your PalmPay account to your BVN helps for better security.
This means no one can have access to it without your authorization, and it helps to reduce the risk of fraud.
2. Identity Verification
Linking your PalmPay account to your BVN means providing PalmPay with a verified identification document.
This will help make your account reliable and trustworthy and establish your identity.
3. Seamless Account Verification
When you link your PalmPay account to your BVN, it simplifies the verification process.
So, other than wasting time verifying PalmPay and BVN separately, you confirm your account on PalmPay by linking it to your BVN.
If your account is verified, using PalmPay services will be very convenient.
4. Access to Premium Financial Services
If you’re looking for additional services such as loan applications, bill payments, and bank transfers, linking your PalmPay account to your BVN may be required.
To access a broader range of services, your BVN verification is essential.
5. Trust and Credibility
Trusting and dealing with someone whose PalmPay account is linked to his BVN is pretty straightforward.
When you connect your PalmPay account to your BVN, it shows you are a sincere person; you are not hiding anything and have undergone a thorough identification process; this will enhance your credibility as a PalmPay user.
Is it possible to use PalmPay without a BVN?
You can use a PalmPay account without BVN.
However, there are some limitations and restrictions on some features and the amount you can receive and hold.
How can I verify my BVN on PalmPay?
If you desire to verify your BVN on your PalmPay, first link your account to it.
You can get this done by providing all the information about you.
Also, make sure that you complete your verification process using the app.
Is it possible to increase my PalmPay receiving limit without BVN?
It’s not possible to increase your PalmPay receiving limit without BVN.
If you want to receive and hold funds without limitations and restrictions, link your BVN to your PalmPay account.
Don’t forget to complete all the verification processes required.