How to upgrade PalmPay account?
Read all about how to upgrade PalmPay account.
PalmPay is a mobile banking wallet that allows you to earn rewards for completing actions on the app. You can complete actions like money transfer, buying airtime, depositing on your betting platform, paying electricity bill, paying cable bills and many more.
You can download the PalmPay app from Google Playstore or from the iOS app store and you can register on the app by providing the required details.
PalmPay operates a three tier system, which means that the amount of money you can transact with and also have in your bank account may be limited.
If you want to remove these limits, then you will need to upgrade your PalmPay account. In this post, I am going to be writing about how to upgrade PalmPay account.
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Read my post on how much can PalmPay receive
PalmPay Tier accounts
PalmPay operates a three tier banking system:
- Tier 1
- Tier 2
- Tier 3
The Tier 1 has a daily transaction limit of 50,000 naira and a maximum balance of 300,000 naira i.e. you can only transact a maximum of 50,000 naira per day and you cannot have more than 300,000 naira in your Palmpay account.
When you register an account with PalmPay, you will automatically be placed in the Tier 1.
The Tier 2 has a daily transaction limit of 200,000 naira and a maximum balance of 500,000 naira i.e. you can only transact a maximum of 200,000 naira per day and you cannot have more than 500,000 naira in your Palmpay account.
When you upgrade your PalmPay account by providing your Bank verification number, you will be placed in Tier 2.
The tier 3 account has a daily transaction limit of 500,000 naira and an unlimited maximum balance. i.e. you cannot transact with more than 500,000 naira daily but you can have an unlimited amount of money in your PalmPay account.
If you want to be placed in Tier 3, you will need to upgrade your account by providing a Valid ID like national identity card, voter’s card, international passport and also a proof of address like your Utility bill.
How to upgrade my PalmPay account?
To upgrade your PalmPay account, follow the below instructions:
- Login to your PalmPay account with your Phone number and PIN
- Click on Your profile on the top left corner icon
- Scroll down and click on KYC level
- Click on UPGRADE
- Input your four-digit PIN
- To upgrade to a Tier 2 account, you will need to provide your bank verification number
- To upgrade to Tier 3 account, you will need to provide a valid ID and Utility bill
- Follow the on-screen prompts and your account will be upgraded.
If you are having issues with upgrading your account, you can contact the PalmPay customer care/support via any of the below channels:
Read my post on how to open Palmpay account
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