How much can Palmpay received without BVN

Palmpay is a mobile payment platform that has achieved great popularity in Nigeria in recent years. It is an efficient payment solution that enables users to carry out financial transactions with their mobile phone. The platform allows users to make payments, transfer funds, pay bills, and purchase airtime.

One of the unique features of Palmpay is that it does not require its users to have a Bank Verification Number (BVN) before they can use its services. This has made the payment platform very accessible, and it has helped to increase its user base significantly.

The BVN is a unique identification number that was introduced by the Central Bank of Nigeria (CBN) to enhance the security of the Nigerian banking system. It is a biometric identification system that is used to verify the identity of bank customers and to prevent fraud and identity theft.

Many Nigerians do not have BVNs, especially those who do not use banks. This is because some people do not like the idea of having their biometric data captured and stored in a central database.

For this reason, the fact that Palmpay does not require a BVN has made it very attractive to such people.

how much can Palmpay receive without BVN?

Palmpay has no restrictions on the amount of money that can be received without a BVN. However, there are limits to the amount of money that can be sent or transferred without a BVN. According to the Central Bank of Nigeria (CBN), the maximum daily transaction limit for mobile money transfers without a BVN is ₦20,000. This means that users can only transfer a maximum of ₦20,000 per day without a BVN.

Palmpay has a similar limit on its platform. Users can only transfer a maximum of ₦20,000 per day without a BVN. However, users can receive unlimited amounts of money without a BVN.

This means that anyone can send money to a Palmpay user without a BVN, and there is no limit to the amount that can be received.

It is important to note that there are some risks associated with using Palmpay without a BVN.

Without a BVN, it is difficult to verify the identity of the user, and this increases the risk of fraud and money laundering.

For this reason, Palmpay has introduced some security measures to ensure the safety of its users.

One of these measures is the use of a four-digit PIN code to secure transactions. When a user registers for Palmpay, they are required to set a four-digit PIN code that is required to complete any transaction.

This PIN code serves as an additional layer of security and helps to prevent unauthorized access to the user’s account.

Palmpay also allows users to link their email to their account. This makes it possible to track transactions and to provide alerts in case of any suspicious activity.