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FAQOnlineNaira FAQ
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 will 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 MONEY before going off to the bank or transferring money into OnlineNaira. For Card payments, your account is funded instantly. It is important to know that as a result of a glitch in the Interswitch Platform, all card deposits are being charged double fees. However, we manually adjust your card deposit to remove the extra fee.

How soon do you credit my OnlineNaira account?
As soon as we have confirmed your deposit (usually within 3 hours), your OnlineNaira account is automatically updated. We guarantee 3 hours 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 MONEY. That way, you have pre informed OnlineNaira that you will be making a deposit. Such deposits are usually available in our OnlineNaira account within 60 mins.

Who accepts OnlineNaira
At the moment, we are working with Merchants and Website Owners to accept the 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. It must be noted that the non payment of fees only applies when you send money to another member. If you send money to a person or merchant outside of OnlineNaira, we charge a fee. See our fees page here.

Do You Charge A Fee To Receive Money?
YES. Each time you receive money from anyone excluding OnlineNaira 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.

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, see our Ship4me service or 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, we 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 your accounts page at the time you initiate the funds transfer. Please look in the left-hand navigation for our exchange rate calculator, but you must first sign in.

How Do You Handle Funds From PayPal?
Money received from PayPal is credited into your OnlineNaira account within minutes and after deducting the appropriate PES fee. 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.

I Cannot See A CONFIRMATION Email after sign-up, why?
Please check your junk email box for good mails wrongly regarded as junk. If you still cannot find it, there is no need to get in touch with us, just register again. The email is automatically generated after your registration and we cannot send it manually. It is important that you click on the link in the confirmation email to be sure that you are the one who really requested the online registration on OnlineNaira.

My Verification Code is wrong.
Before going to do a new registration, please try to login even when the OnlineNaira website tells you the confirmation code is wrong. If it does not allow you to login, then it would be better to register again.

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.

Am I allowed to have multiple OnlineNaira accounts?
Yes. You may open a maximum of 2 OnlineNaira accounts. One for business and the other for personal use. 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 MONEY. Enter the amount you want to deposit, choose the deposit method and click on INITIATE DEPOSIT NOW. If you choose Cash/Transfer into 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 Next to let OnlineNaira know you plan to make a deposit. If you do not click Next at the bottom of the next page, the deposit you initiated will not be registered and your deposit may be delayed. 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 acocunt with a card issued in Nigeria, please chose option 2 as deposit methos 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. You will be able to use OnlineNaira without verification but with limits. 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 Fiverr.com
In order to make a withdrawal from a fiverr.com account, you will need to subscribe to the OnlineNaira PES and then add the email we allocate to you to your fiverr.com account. All payments received from fiverr.com are placed in your OnlineNaira account less any fees within 60mins.

How do I take Payments From International Buyer & PayPal.
OnlineNaira is not just designed for Nigerians to do online business with one another, but also allow Nigerian Sellers to receive payments through the PayPal network. If you choose to use this service, you must be ready to go through the checks that we would carry out on each and everyone of your transactions as many of these may be fraudulent. Click here for more details.

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 provide an International Passport as Proof of ID and a bank statement as Proof of Address.

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