If you’ve been using Opay for your financial transactions, you probably know it’s one of the best digital platforms in Nigeria. But did you know that to enjoy its full features, you need to upgrade your account? However, it’s certain that you are not here by mistake. Rather, you are here purposely to learn how to upgrade your Opay account easily and hassle free.
Why Do You Need To Upgrade Your Opay Account?
Upgrading your Opay account offers several benefits and is often necessary to access advanced features and higher transaction limits. However, here’s why you might need to upgrade your Opay account today:
Increased Transaction Limits: One of the primary reasons to upgrade is to gain access to higher transaction limits.
As you move up the KYC levels, you can send, receive, and store larger sums of money, which is crucial if you need to conduct significant financial transactions.
Access to Additional Services: Upgrading can unlock a wider range of financial services on the Opay platform.
This might include features like requesting loans, earning interest on your savings, or participating in investment opportunities that are only available to higher KYC levels.
Improved Trust: For both you and the platform, higher KYC levels establish trust. It shows that you are a verified user, which can be important when dealing with larger transactions or financial institutions.
Expanded Financial Flexibility: With a more advanced Opay account, you can manage your finances more flexibly, making it easier to handle various financial needs, from day-to-day expenses to larger investments.
Access to Merchant Services: If you’re a business owner or plan to engage in commercial activities, upgrading to a merchant account is essential.
This allows you to accept payments from customers and perform business transactions seamlessly.
Must Understand About Opay KYC Levels
First things first, Opay has what they call KYC (Know Your Customer) levels, kind of like the different types of bank accounts you might be familiar with.
These levels come with various features, requirements, and transaction limits, and there are four of them:
KYC Level 1:
Maximum account balance: N50,000
Maximum daily transaction: N50,000
KYC Level 2:
Maximum account balance: N300,000
Maximum daily transaction: N200,000
KYC Level 3:
Unlimited maximum account balance
Maximum daily transactions: N5,000,000
Opay Merchant Account:
- Unlimited maximum account balance
- Unlimited daily transactions
Now that we’ve got that sorted, let’s dive into the details of how to upgrade your Opay account easily.
How to Upgrade Your Opay Account Easily In 2023
Upgrading your Opay account is quite simple but you must ensure you are ready to provide requirements such as taking a selfie of yourself, and a bank verification number known as bvn. Also, you may be asked to provide a recent utility bill and your ID Card.
Once you are ready to provide those things then let’s delve in deeply:
How To Upgrade Your Opay Account Easily To KYC 2 Level
If you need to upgrade to KYC 2 on Opay, kindly follow the procedure below:
- Open the Opay app and log in
- Find your profile image icon at the top left corner of your screen and give it a tap.
- Scroll down until you spot the “Upgrade to KYC 2” button.
- Complete the requested information. Once you do these, Congrats, you’re now a KYC Level 2 Opay user.
How to Upgrade Your Opay to KYC Level 3
- To get started, launch the Opay app and log in.
- Click on your profile image icon.
- Keep scrolling until you reach the “Upgrade to KYC 3” option.
- Fill in the necessary information to level up to KYC Level 3.
How to Upgrade to an Opay Merchant Account Easily
- Launch the Opay app and log in.
- Tap your profile image icon.
- Scroll down and you’ll see the “Upgrade to Merchant” button – click on it.
- Provide the required information to unlock the full potential of an Opay merchant account.
FAQs On How To Upgrade Your Opay Account Easily
Here are some frequently asked questions related to how to upgrade your Opay account easily in 2023 with answers:
What is the limit for a Tier 1 account on Opay?
The limit for a Tier 1 Opay account includes a maximum account balance of N50,000 and a maximum daily transaction limit of N50,000.
How much can Opay Tier 2 receive at once?
Opay Tier 2 accounts can receive up to N200,000 in a single transaction.
What are the requirements needed to upgrade an account to KYC Level 3?
To upgrade your Opay account to KYC Level 3, you will need to provide the following:
- A Bank Verification Number (BVN)
- An Identity (ID) Card
- A recent utility bill
- A selfie (for identity verification)
How do I remove restrictions from my Opay account?
Restrictions on your Opay account can often be removed by upgrading to a higher KYC level.
To do this, follow the steps outlined in the guide provided earlier in this article for upgrading your Opay account to KYC Level 2 or Level 3.
How do I upgrade to Tier 3 on Opay?
To upgrade your Opay account to Tier 3, follow these steps:
- Open the Opay app and log in.
- Click on your profile image icon.
- Scroll down and select the “Upgrade to KYC 3” option.
- Provide the required information, including your BVN, ID card, utility bill, and selfie.
- Complete the upgrade process to reach Tier 3 status with unlimited maximum account balance and higher transaction limits.
What is the full meaning of Opay?
Opay stands for “OperaPay.” It is an online finance platform offered by Opera, the Norwegian tech company known for its web browsers and other internet-related services.
Opay provides various financial services, including payments, money transfers, and more, primarily in markets like Nigeria.