Frequently Asked Questions

How soon do you acknowledge my deposit?
We do not acknowledge Bank deposits, but we fund your account with the deposited funds within minutes. In the event that you did not use your OnlineNaira username as your deposit reference in the bank, there may be a delay in funding your account because we will not know who deposited the money. It is also important to initiate your deposit by clicking on DEPOSIT before going off to the bank or transferring money into OnlineNaira. For Card payments, your account is funded instantly. See our deposit page here.

How soon do you credit my OnlineNaira account?
As soon as we have confirmed your deposit (usually within 5mins), your OnlineNaira account is automatically updated. We guarantee 5mins provided you initiated your deposit and you used your OnlineNaira username as your deposit reference. In order to initiate your deposit, please log into your account and click on DEPOSIT. That way, you have pre-informed OnlineNaira that you will be making a deposit.

Who accepts OnlineNaira
At the moment, we are working with Merchants and Website Owners to accept OnlineNaira and you will be able to confirm this wherever you see the OnlineNaira logo displayed. If you accept OnlineNaira and your details are not on our merchants page, please visit our merchants page to see how to send us your details.

Do You Charge A Fee To Send Money To Another OnlineNaira Member?
NO. OnlineNaira does not charge you to send money to another OnlineNaira member. For instance, if you send N5,000, the recipient of the money will see that you have sent N5,000. That way, they are satisfied that you have paid or sent to them the money you agreed to send. See our fees page here.

Do You Charge A Fee To Receive Money?
YES. Each time you receive money from anyone excluding REFUNDS, we will deduct a transaction fee. See our fees page here.

How Are Refunds Handled?
Here at OnlineNaira, we understand that a refund could be the result of a failed transaction or a situation that is not particularly good for the sender and receiver. This is the reason we do not charge a fee to process refunds. In fact, we return any fees that was deducted when the money was sent in the first place so that the person at the receiving end gets all their money back.
OnlineNaira Internal Refunds - All refunds must be requested within 7 days. This only applies to refunds of money from one OnlineNaira member to the other.
Pay4me Refunds - Refunds from PayPal or from outside of OnlineNaira is treated as a deposit into your account and the service fee will be not be refunded. We do not return the service fee because we already processed your payment order. All refunds from a PayPal related transaction must be requested within 45 days of the initial purchase.

What if I have a Dispute?
When a transaction is disputed, OnlineNaira will allow the parties involved to resolve the situation by themselves. If it is not resolved within 7days, we will get in touch with the parties with a view to resolving the issue, but we will be neutral. To use our dispute resolution, please login and click on TOOLS.

What is your Commission on Deposits?
Please find our fees here. You will need to pay a fee when you make a deposit into our bank account and when you receive money from another member. For example; if you deposited NGN 1,000 Naira into our bank account, we deduct a fee. We will deduct a fee from your deposit and make the rest available in your OnlineNaira account. When you make purchases or send money to another OnlineNaira account holder, we will not deduct any commission from you money. It is the person or merchant that pays Seller Fee.

Do you charge Shipping Fees?
It should be noted that we do not sell anything; all we do at OnlineNaira is to help individuals and small businesses to buy and sell online. It is therefore to be expected that we do not have anything to do with shipping fees or any other fees that may be charged by other people or Merchants. The payments we help process is the total in a basket which may or may not include shipping fees. We only process payments that is passed over to us by Merchants. Our advice is that you must ensure that you have taken care of all your shipping and addressing needs before passing the payment to OnlineNaira. We will not take responsibility for wrong addressing even when we have helped to insert your address. If you are looking for a shipping service for products you plan to buy abroad, have a look on our Merchants page.

Can OnlineNaira be used for Purchases abroad?
The simple answer is YES! OnlineNaira is able to pay into PayPal on your behalf and so can handle any payments as long as the supplier has a PayPal account. We can also make payments for you wherever the merchant will accept International Credit Cards. The only challenge with this is that the commission we charge to do so is slightly higher than buying from suppliers already on the OnlineNaira network. Always check on our merchants page to see if a merchant sells what you want. The alternative is to tell your foreign supplier about OnlineNaira. Once they sign up with us, you can pay money into their OnlineNaira account and that way bypass PayPal and its extra commissions. Be sure to see our Pay4me service

What is the exchange rate to fund OnlineNaira with PayPal?
The current exchange is available on our eCurrency page. Please check rates before you make a deposit.

How Do You Handle Funds From PayPal?
Money received from PayPal is credited into your OnlineNaira account within minutes and after converting the received money at the published rate. As a result of issues that may arise with PayPal, we reserve the right to restrict your access to the money as it may be reversed by PayPal. All monies coming into OnlineNaira through PayPal must do so using our PES service.

What about Payment Description in the Payment Processor?
This is where the buyer or person making payment tells the seller or merchant what they are paying for. It will be good to specify the full description of the product or service you are paying for so that the merchant is able to credit your account with them and release whatever it is you are paying for.

How do I protect my account from being accessed by unauthorized users?
Create unique passwords and change it often, like once in 90 days. Never give out your passwords to anyone. Always access OnlineNaira from a trusted computer, with an updated anti-virus software installed and be sure to log out when you have finished. Never click on a link in an email, even if it came from your friend. Send us an email if you suspect a fake email or a fake web site. You should also use our security Question and Answer to further protect your account and by far the safest way to protect your account is by enabling Google's Second Factor. Login and see security settings at the bottom of the PROFILE page.

Am I allowed to have multiple OnlineNaira accounts?
No. You may only have one account. However, you may like to know that we allow each OnlineNaira account to have up to 3 email addresses and these could be used to process payments for different businesses.

How Do I Fund My OnlineNaira Account?
Please login and click on DEPOSIT. Enter the amount you want to deposit, choose the deposit method and click on INITIATE DEPOSIT NOW. If you choose Cash into a Nigerian bank, the next page will provide you with the bank details you need. Copy the bank details and scroll to the bottom to click on CONTINUE to let OnlineNaira know you plan to make a deposit. All deposits are checked manually and we ask you to allow a around 5 minutes for your OnlineNaira account to be funded. If you would like to fund your OnlineNaira account with a card issued in Nigeria, please chose option 1 as deposit method and follow the prompts.

A company lists your logo or announces that they are working with OnlineNaira. Can this be verified?
Any such claim is FALSE. Please note that OnlineNaira is owned and operated independently of any other business or company. If you have any questions about the performance of a certain company or about any products and services that they offer - you need to contact that company directly. The mere fact that a vendor chooses to accept OnlineNaira on its web site as a form of payment does not add legitimacy or credibility to their business activities.

Should I be verified?
When you join OnlineNaira, there are two levels of KYC (know your customer) that we do; VERIFIED and CERTIFIED. A VERIFIED user can do more while a CERTIFIED user has all limits removed. We do not have anything to do with PayPal verification, but if you are going to receive money into your OnlineNaira account from PayPal, that PayPal account must be verified. How that is done has nothing to do with us here at OnlineNaira, but PayPal always tell us if the account is verified or not. If you plan to keep using OnlineNaira, your account must be VERIFIED.

What about the NGN field in the Payment Processor?
This is where the buyer or person making payment tells the seller or merchant how much they are paying in Nigerian Naira. Entry must be numeric and must not contain any NGN or comma (,) or anything else, just the number.

Do I need to add my Credit/Debit Card or Bank Account?
No. You do not have to add your card or bank details when you register with OnlineNaira. However, when you need to withdraw money from your account into a bank, your bank account would need to be added. When we introduce auto credit,debit card or bank funding in 2016, you will need to add your credit/debit card if you would like to fund your account from the card.

How do I withdraw money from
In order to make a withdrawal from a account, you will need to subscribe to the OnlineNaira PES and then add the email we allocate to you to your account. All payments received from are placed in your OnlineNaira account less any fees within 60mins.

I Am Not African, Can I Register?
Yes. It is possible for anyone to join OnlineNaira. You should sign-up with OnlineNaira if you have a need to collect money from Africans or you have a need to make payment to Africans? However, any monies in your account will first be converted to (naira) NGN and then you can do what they like with it. All potential members must be able to go through our KYC.

How Do I Close My OnlineNaira Account?
To close your account, please be sure to remove any funds left in your account where possible. Click on TOOLS and then click on Close Account. As soon as you have closed your account, you will no longer have access to it.

How Do I Certify With BVN?
We expect all members of OnlineNaira to Certify their account by uploading documents to confirm the information provided. If you are Nigerian, we accept BVN for Certification. When you provide your Bank Verification Number, we are able to access your bank information enough to confirm the details you have supplied on your profile page. To add your BVN, login and click on SETTINGS and then Profile. Scroll to the bottom and then add your BVN to the appropriate field. To validate the number, click on VALIDATE below the BVN field.