One of Nigeria’s mainstream mobile wallets, backed by the Transsion-affiliated team, known for cashback on transfers and a dense agent network across cities and towns.
!Not a bank. PalmPay operates as a CBN-licensed mobile money operator in Nigeria; wallet balances are e-money, not bank deposits; wallet balances are e-money / stored value, NOT deposits, and are outside deposit-insurance protection. Funds are safeguarded in segregated / trust accounts under the applicable rules, not covered by any deposit guarantee scheme.
Yes. You need a Nigerian mobile number; verification uses BVN or NIN. Foreigners without these can try a restricted registration with a passport.
No mandatory minimum; an initial top-up of NGN 1,000–5,000 is typical｜Transfers and spending are usually free; withdrawals and some transactions are charged.
Limits scale with verification tier; unverified caps are very low. Check the app. Balances are not deposits and are not deposit-insured.
Yes. You need a Nigerian mobile number; verification uses BVN or NIN. Foreigners without these can try a restricted registration with a passport.
Local bank account: Not required — cash top-ups at agents or link a bank card. Items typically needed: A Nigerian mobile number; BVN or NIN; Passport (alternative for foreigners).
Typically: A Nigerian mobile number; BVN or NIN; Passport (alternative for foreigners).
How to sign up: Fully online — register with a Nigerian number and BVN/NIN or passport (About 10–20 minutes). Steps: 1) Download the PalmPay app 2) Register with your Nigerian number 3) Enter BVN/NIN for verification (or try a passport) 4) Top up with cash or link a card 5) You can then transfer and pay Fees: Transfers and spending are usually free; withdrawals and some transactions are charged.
Limits scale with verification tier; unverified caps are very low. Check the app. Balances are not deposits and are not deposit-insured.
E-wallet rules change often — always follow the latest instructions in the official app.