PayPal is a dominant global payment gateway, but in Nigeria, its services are heavily restricted.
The Nigerian version of PayPal does not support receiving payments, which makes it incomplete for freelancers, businesses, and individuals who rely on international transactions.
Because of this limitation, many Nigerians have sought alternative methods to create fully functional PayPal accounts — finding ways to access the features that are otherwise unavailable in their region.
Many of the found ways do let you have a functional PayPal account. But one problem still exists — moving out money and getting the local currency.
In this guide, we’ll explore the different ways on how you can withdraw from PayPal.
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Effective Ways To Withdraw from PayPal In Nigeria
There are various ways to withdraw foreign currency from PayPal and swap it for Naira.
The fastest way to do just that is to use an exchanger.
Use a trusted PayPal Vendor | Use SVZ Exchange
Here’s how it works: You send the PayPal funds to the exchanger to receive your Naira equivalent.
This method is the fastest as it allows you to get access to funds immediately. No more waiting for the money to land. Just send and receive Naira.
But there are some problems associated with using PayPal exchangers. The first is you don’t know whether they are legit, and the second their exchange rate is not always attractive.
However, SVZ Exchange is a trusted source and their exchange rate is competitive too.
“The aim is to provide a way for online earners to withdraw their PayPal funds without being charged heavily by PayPal exchangers. We don’t try to earn a lot from our deals. Customers are put first always. Therefore, our earnings are just like the fees that PayPal charges you and sometimes lesser”.
Here’s how to sell your PayPal funds through SVZ Exchange. They accept both GNS and FNF.
- Reach out to them through their contact information
- Know their current rate
- Send PayPal funds to their account
- Receive your NGN equivalent in minutes
Withdraw via your bank account
If you manage to find your ways out for a PayPal account that can receive and also link to a foreign bank. You can always use the “transfer to bank” option from PayPal.
This method is the most secure and it allows you to manage your funds yourself. The only disadvantage is that you don’t get your funds at the same speed compared to using trusted exchangers.
SVZ Exchange also has a course that teaches you how to make PayPal accounts that can withdraw to your bank, totally eliminating the use of exchangers.
Conclusion
Creating a verified PayPal account from an unsupported region is one thing, withdrawing is another thing.
Most people have their funds stuck on PayPal for days before finding a trusted exchanger with a cool deal.
With the recommended exchanger “SVZ Exchange”, you’re sure that your funds are in safe hands, and you also get the best rate in town.
If you also want to learn how to do without PayPal exchangers, SVZ Exchange is also a sure plug. They will work you out on how to create a PayPal account that can withdraw funds directly to your bank account.
Related Article: How to use PayPal in banned countries.
FAQs
Why does the rate of GNS and FNF funds differ?
The rate of GNS and FNF funds differ because of the results they create on the receiving account.
FNF funds don’t affect accounts like that. GNS funds affect the exchangers’ account.
Some of the time, funds can be held for up to 21 days on the receiving account before complete release. These days of downtime cause funds sent as GNS to have lesser value than FNF funds.
Why is the rate not up to the normal USD rate?
Let’s get it right — There’s no difference between fiat currency and PayPal funds. Therefore, the same rate applies.
The reason why you see different rates from exchangers is because of fees.
Let’s say you try to push $100 from your PayPal account to your local Naira account. You’ll pass some stages and they all charge fees.
Transferring money from PayPal normally costs 3.5% of the total amount.
Payment gateway (where the money lands) also charges a deposit fee. There’s also a currency conversion fee (from 1% up depending on the platform) plus other charges.
So your $100 after passing through these stages may come up to be $92 or even less.
When exchangers add their $5 benefit or so, the rate will be like 1300 or 1250.
What’s the best PayPal Exchange website in Nigeria?
SVZ Exchange is a trusted source for buying and selling PayPal funds at sweet rates.
Among other exchangers I have used in the past, they offer the best rates and they are also specialized on that.
