If you've ever wanted a hassle-free way to manage your finances right from your phone, opening an OPay account might be what you need. It's like having a bank in your pocket but with more perks and less stress. Whether you're looking to pay bills, transfer money, or even save, OPay makes it super easy. How to open OPay account?
In this guide, we'll walk you through the simple steps to open an OPay account, so you can start enjoying the convenience it offers in no time. Let's dive in!
What Is OPay?
OPay is a leading mobile banking platform in Nigeria, designed to provide users with a seamless and secure way to manage their financial activities.
It was launched in 2018 and operates under a license from the Central Bank of Nigeria (CBN). It is insured by the Nigeria Deposit Insurance Corporation (NDIC), to ensure a high level of security and reliability for its users. In 2024, it reached a value of $3B.
OPay offers a variety of financial services including:
- Mobile payments and transfers.
- Airtime and data top-ups.
- Bill payments.
- Savings and investments.
- Loans. Check out this article to learn the process of applying for a loan in OPay.
- Offline payments through OPay agents.
- Business tools.
- OPay POS for businesses.
- OPay Agent Network.
In addition to these core services, OPay also offers features like OFood for food delivery, ORide for transportation, and OPay Loans for quick access to credit, making it a comprehensive platform for financial inclusion in Nigeria.
How to open OPay account? Keep reading to find out.
Requirements to open an OPay account
You need the below documents and information to open an OPay account.
- Valid Means of Identification: This can include a National ID Card, International Passport, or Driver's License for account verification.
- Mobile Phone: OPay links your phone number to the account. Hence, a functioning mobile phone is necessary for registration
- Email Address: You must provide a valid email address is for communication and account management.
- Bank Verification Number (BVN): OPay requests a BVN to comply with KYC (Know Your Customer) regulations.
- Personal Information: You must provide your full name and date of birth during the registration process.
- Nigerian Bank Account: You need a Nigerian bank account to link your OPay account for transactions.
Is Bank Verification Number (BVN) necessary to register OPay account?
The Bank Verification Number (BVN) is a crucial requirement for opening an OPay account, primarily due to regulatory compliance and security measures mandated by the Central Bank of Nigeria (CBN).
The BVN serves as a unique identifier for bank customers, helping to prevent fraud and money laundering in the financial system.
Linking a BVN to your OPay account allows for higher transaction limits and enhanced security.
Accounts without a BVN are subject to significant restrictions, including lower transaction limits and the potential for a "Post No Debit" status, which prevents any transactions until the BVN is linked.
This ensures that only verified users can perform higher-value transactions, contributing to a safer financial ecosystem for all users.
In summary, providing a BVN facilitates compliance with regulatory requirements and enhances the overall functionality and security of the OPay account. This allows you to utilize its services to the maximum.
However, you can open an OPay account without a BVN too. Keep reading to find out how to open an Opay account without a BVN.
How to Open Opay Account: The Steps
Follow the below steps to open an OPay account.
Downloading the OPay App
To begin the process of opening an OPay account, you need to download the OPay app. The app is available on both major platforms:
- For Android Users: Open the Google Play Store, search for "OPay," and select the app developed by "OPay Digital Services Limited." Tap "Install" to download the app.
- For iOS Users: Open the iOS App Store, search for "OPay," and find the official app. Tap "Get" to download and install it on your device.
Once the app is installed, you can proceed to the registration process.
Registering on the OPay App
Next, you must register OPay account. Follow the below steps:
- Launch the OPay app on your device.
- Upon opening the app, select your country from the list provided.
- Input a valid phone number that you will use for your OPay account. This number will be linked to your account.
- After entering your phone number, you will receive a One-Time Password (OTP) via SMS. Enter this OTP in the designated field within the app to verify your phone number.
- Create a secure password for your account. It must meet the basic requirements such as a minimum of six characters, and combining letters and numbers.
- Fill in the required personal information, including your full name, date of birth, and email address. Make sure all details are accurate.
- After entering all necessary information, review your details and tap the "Next" or "Sign Up" button to complete the registration process.
- Upon successful registration, you will receive a confirmation message, and your OPay account will be ready for use. You can now start utilizing the various services offered by OPay.
How to open OPay account through the OPay Website?
OPay account opening can be done through the OPay website as well. Here’s how you do it:
1. Visit the OPay website sign-up page.
2. Complete the registration form by entering the following details:
- First Name: Your first name.
- Last Name: Your last name.
- Phone Number: A valid mobile number that will be linked to your account.
- Email Address: A valid email address for account verification and communication.
- Password: Create a strong password (minimum of 8 characters) that you will use to log into your account.
- Password Confirmation: Re-enter the password to confirm it.
3. After filling in all required fields, click the "Create Account" or "Sign Up" button to submit your registration.
4. You will receive a confirmation email. Open the email and click on the verification link to activate your account.
5. Once your account is verified, return to the OPay website and log in using your email and password.
Difference between the Opay app and the website account registration
The registration processes for the OPay app and the OPay website differ in several key ways:
- Platform: The app registration is conducted via the OPay mobile application, while the web registration is done through the OPay website.
- User Interface: The app provides a mobile-optimized interface, allowing for a more streamlined experience on smartphones, whereas the website may offer a more comprehensive view suitable for desktop users.
- Verification Process: Both methods require phone number verification through an OTP, but the app may automatically sync with the phone number used, making the process quicker.
- Accessibility: You can access the app on mobile devices and the website from any internet-enabled device, including desktops and laptops.
Alternative Methods to Open OPay Account
OPay provides various options to open OPay accounts. Below are some alternatives to the OPay app and website registration.
Using USSD Code
To open an OPay account using USSD, follow these simple steps:
- On your mobile phone, dial *955# and press the call button.
- From the menu that appears, choose "Register" to initiate the account creation process.
- Enter your first and last names. Follow the on-screen instructions carefully.
- Set a secure PIN for your account.
- After entering your details, you’ll receive an OTP to your registered phone number. Enter this OTP to verify your account.
- Once your account is successfully created, you will receive a confirmation message via SMS, indicating that your OPay account is active and ready for use.
This method is particularly convenient for users without internet access, as it operates on any mobile network.
Opening an Account Without BVN
If you do not have a Bank Verification Number (BVN), you can still open an OPay account by following these steps:
- Start by dialing *955# on your mobile phone.
- Choose the "Register" option from the USSD menu.
- Input your first name, last name, and mobile phone number when prompted.
- Set a secure PIN for your account. You’ll need this PIN for transactions.
- When prompted for your BVN, you can choose to skip this step. OPay allows users to create accounts without a BVN, although some limitations may apply.
- You’ll receive an OTP to your registered mobile number. Enter this OTP to complete the verification process.
- After successful verification, OPay will send a confirmation message indicating OPay account has been created.
Tips for using your OPay account
- Monitor your account balance to track spending and ensure sufficient funds for transactions.
- Use your OPay wallet to shop online easily by selecting OPay as your payment option at participating merchants.
- Send and receive money quickly within Nigeria, even to those without an OPay account, making transactions hassle-free.
- Take advantage of the bill payment feature to settle utility bills like electricity, water, and more with just a few taps.
- Consider using OPay’s savings features to earn interest on your funds.
- Look into OPay’s loan services for quick financial assistance when needed.
- Keep up with app updates and new features to maximize your OPay experience.
Summary
You can open an Opay account via the Opay app, website, or USSD code. BVN is not mandatory to open an Opay account, however, you must provide the BVN to access some services.
Manage your Opay account effectively and explore its diverse features—such as online shopping, fund transfers, and bill payment to enhance your financial experience.
FAQs
Is BVN mandatory to open an OPay account?
No, you can open an OPay account without a BVN. However, OPay will restrict certain services to you and be available only after you provide the BVN.
Is OPay account opening free?
Yes, you can open an OPay account for free. You’ll be charged a small fee for transactions and bill payments.
How much is the minimum amount on OPay?
You can send and receive money as low as 10N with your OPay account.
Is OPay a safe option for keeping money?
Yes, OPay accounts are protected with regulatory safeguards. Additionally, you can dial *955*131# USSD short code and lock your account if your phone is stolen.