Paypal Money Receiving Restriction - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Paypal Money Receiving Restriction (1557 Views)
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| Paypal Money Receiving Restriction by Brendaniel: 1:41pm On Nov 28, 2016 |
I don't know if anyone is also facing this challenge, I have done some jobs online and I've been trying to transfer the money to my paypal account and all I get is that my account is restricted to only send money out, that I cannot receive any money from anyone, I called paypal customer care an I was told that it was the CBN that gave the restriction, now I'm wondering if the CBN is actually behind this whole scarcity of dollar thing. I actually have learnt how to work online and make dollars which I will be making transfers constantly through PayPal and this is a very big discouragement... My questions are : 1. Why would the CBN place a restriction on receiving dollars and allow our money to be sent out at a higher exchange rate? 2. I have been using this paypal account for about 4 years now and never experienced this, so why is it during this present recession period they would place such a restriction and what benefit is it to the country? 3. Am I the only one facing this problem, if you are a paypal account user are you also facing the same issue, or have you been able to solve it through another method? Please I need help from anyone who can help me find a way of out of this issue..... Mods please can you move this to front-page I need help from experts and I also want the government to be aware of the pains this policy is causing, It is not helping matters at all, there could be other restrictions in other forms to get in dollars into the country that we don't even know about, now we see why there is scarcity of dollars in Nigeria and we keep hearing that the federal government is making it easy for dollars to come into the country, if I can work online and not get paid in dollars through a platform but I can spend through the same platform then something is wrong somewhere
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| Re: Paypal Money Receiving Restriction by aAK1(m): 1:45pm On Nov 28, 2016 |
And you claim you have been using PayPal for 4 years ? 4 Likes |
| Re: Paypal Money Receiving Restriction by Brendaniel: 1:47pm On Nov 28, 2016 |
aAK1: Yes I have been using it.... But never experienced this.... |
| Re: Paypal Money Receiving Restriction by Brendaniel: 1:49pm On Nov 28, 2016 |
aAK1: Do you also use it? 1 Like |
| Re: Paypal Money Receiving Restriction by Zdoh(m): 2:13pm On Nov 28, 2016 |
... |
| Re: Paypal Money Receiving Restriction by OAKSFIVEFARMS: 3:13pm On Nov 28, 2016 |
Brendaniel:His point is, PayPal has NEVER allowed the reception of funds in Nigeria, only remittance. And if you claim you have been using it for 4 years, how come you don't know. In furtherance, if you were using an international PayPal account, you shouldn't be bothered with CBN's policies. We're you able at some point to receive funds with your Nigerian PayPal? 1 Like |
| Re: Paypal Money Receiving Restriction by Brendaniel: 3:32pm On Nov 28, 2016 |
OAKSFIVEFARMS: When I opened and verified my Nigeria paypal account I had the full option to do business with it, in fact UBA even sent me mail that I can now transact with my paypal account, doing business, buying and selling, I opened it as a business account, I spoke with the PayPal customer care on phone and she said it is the policy CBN gave them to start doing, I even have records of receiving payments from a site I was transacting with in 2014, it was a social network profit making site..... 1 Like |
| Re: Paypal Money Receiving Restriction by dav8id(m): 3:57pm On Nov 28, 2016 |
Brendaniel: Nigeria PayPal receiving money  It can't be true Unless I see receiving history |
| Re: Paypal Money Receiving Restriction by Brendaniel: 4:06pm On Nov 28, 2016 |
dav8id: 1 Like
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| Re: Paypal Money Receiving Restriction by OAKSFIVEFARMS: 11:46pm On Nov 28, 2016 |
Brendaniel:Wow, thanks for clearing this up. Now speaking for myself, to the best of my knowledge your Nigerian PayPal account is an anomaly. Infact, if you would be so kind as to avail me some of your time. I would ask you to Google "PayPal Nigeria receive money". I think you were lucky to have such an account. Has anybody else received money with their Nigerian PayPal? |
| Re: Paypal Money Receiving Restriction by akashi01(m): 1:22am On Nov 29, 2016 |
Hhmmmm am seeing things So na buhari restrict am?
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| Re: Paypal Money Receiving Restriction by arbitrage: 4:35am On Nov 29, 2016 |
OAKSFIVEFARMS: I don't think he's lucky to have a different Nigerian PayPal account because what he pasted above is a refund and not normal transfer, which is possible to any Nigerian PayPal account if you make payment that needs reversal or like the initial verification of PayPal account. More so, the $0.01 amount is too insignificant to assume that Nigerian account can receive. May be he should try a bigger value. Someonehere may even test it by sending him some amount and let's see if it will sail through. 1 Like |
| Re: Paypal Money Receiving Restriction by Brendaniel: 7:34am On Nov 29, 2016 |
OAKSFIVEFARMS: I just remembered what happened now, when I opened my account and verified it with my credit card they gave a trial offer to apply for merchant rate, merchant rate is PayPal giving you more features to do business online to even sell on eBay, gives you paypal button and so on, because I was still running my online store then, when the credit card expired they locked me out of the membership, so I thought when I verify again with my new credit card they will open my merchant rate membership, but they didn't, they told me to transfer a sum of $3000 to my paypal account within the next one month to qualify..... 1 Like |
| Re: Paypal Money Receiving Restriction by bedfordng(m): 10:09am On Nov 29, 2016 |
mmn |
| Re: Paypal Money Receiving Restriction by Zdoh(m): 10:18am On Dec 02, 2018 |
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| Re: Paypal Money Receiving Restriction by edoziechris: 7:19pm On Jun 22, 2021 |
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