Yes, you can have multiple OPay or PalmPay accounts but not on a single device. Besides, have more than one OPay Accounts or two PalmPay Accounts violate the fintech apps terms and conditions and you may get penalized for it.
In this blog post, we will highlight the consequences of having multiple OPay Account and more than two PalmPay Accounts. But before that, let's look at what about are asking about having multiple accounts in one bank in Nigeria
Can I have two OPay Accounts?
Yes, you can have more than one OPay Accounts but it shouldn't be on the same device. If you want to have two or more OPay Account, you must create it on different devices using different phone number and email address.
Although your names can be the same, it doesn't matter. What does matter is that you must not use the same phone number and email address to open the OPay Accounts. It should also be opened using different devices that's not connected to one IP address.
E.g., if you're using WiFi connection, disconnect from that wifi to proceed to the OPay Accounts creations. If you think you're using different devices and they're connected to a single WiFi, it'll read as same IP and the accounts will be suspended.
In a nutshell, while creating multiple OPay Accounts, make sure that you're doing it on different devices which are not connected on the same IP address. It's also important that using different phone numbers and email addresses are crucial in creating multiple OPay Accounts in Nigeria.
Thesw methods of creating multiple OPAY is a the same for creating two or more PalmPay Accounts. All you need to do is follow all the procedures highlighted above to create such Accounts.
Consequences of Having Multiple OPay and PalmPay Account
Although, you can creates, have and manages multiple OPay Accounts in Nigeria, but there are consequences for doing that.
The first consequence is that if OPay or PalmPay knows that you're running two or more accounts, the accounts will be restricted or freezed.
Another consequence is that, you will not be able to verify the other accounts with your personal information such as National ID/NIN, and Bank Verification Number (BVN), unless you use another person's personal information to verify it.
Even though you're using another person's personal information to verify such accounts, you will not be able to use it in a single device.
Additionally, if you create multiple OPAY or PalmPay accounts and one is verified with all your personal information, the other ones will be limited and have daily transaction limits.
The Bottom Line
In a nutshell, it's not advisable to have two or more fintech accounts in Nigeria as it's not supported by the companies rules and you may get penalized for it. Having multiple OPay Accounts can get you in trouble with regulators and have you banned from using the platform completely.
However, if you wish to have multiple OPay or PalmPay accounts, create it with another person's personal information and use it on different devices. Doing these, you can have as many accounts as you wish.