Paypal is one of the most popular online payment platform that has been in existence for more than 20years and has merchants and consumers in more than 200 markets around the world.
Paypal is an electronic commerce company that speed up payments between people through online transfers. Paypal is restricted (i.e full access to PayPal features are not allowed) in so many countries of the world including Nigeria. This article will address how to withdraw PayPal funds directly to any bank account. Nigerian PayPal account can only send money to another PayPal account but cannot receive.
So, if you think out of the box, you will consider PayPal arbitrage (you will use deposit into your PayPal account using your debit card and then send to any paypal account that receives funds then the person withdraws into any of his/her foreign accounts and then sell PayPal funds at black market rate and you make profit).
You can do PayPal arbitrage by yourself, you can create a Nigerian personal PayPal account and create a foreign PayPal account and follow steps stated above or you can create a foreign PayPal account and buy PayPal funds and follow the steps below to connect your foreign bank account to withdraw. Don’t forget, withdrawal is to your payoneer foreign account.
Creating a Paypal account:
To create a PayPal account, you can consider opening a Nigerian PayPal business account or personal account. A business account is used by merchants and can receive funds. You can create a foreign PayPal account as well.
Go to your browser and search for https://Paypal.com/ng or http://Paypal.com/uk or http://Paypal.com/us
Withdrawing Funds
To withdraw your PayPal funds into your account, you need to create a Payoneer account. Here is an article to help you with that: https://loadtyrbe.com/2022/02/24/how-to-create-foreign-bank-account-that-receives-money-in-nigeria-payoneer/
Payoneer allows you to create and use multiple foreign bank accounts.
After creating and verifying your payoneer account, you can copy your foreign bank account details and link with your PayPal and withdraw your PayPal funds directly to your account. You can withdraw funds directly from your payoneer account directly to your local bank account. With this you’ve known how to withdraw PayPal funds in Nigeria.
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