How to Transfer Money Using Opay to Cope with Banks’ Network Issues


Many Nigerians are suffering untold hardships since the CBN introduced the Cashless Policy. So much have been deliberated upon, deadlines set, court ruling followed, and the rest of the drama. In truth, cash is unavailable for commercial banks to disburse to the raging public.

As it stands, the majority of people don’t even know whether to blame the CBN or commercial banks because it’s becoming frustrating.

Now, apart from the cash being unavailable, there’s also an issue of network on banks’ mobile apps at least to help businesses with their transactions to ease the stress of the cashless policy. So, that’s why I’m offering to help you learn how to transfer money using Opay.

Opay is a digital mobile wallet that allows users to instantly open online banking accounts, transfer money, pay bills, save, withdraw cash, and lots more. With over 18 million active users across the country, Opay is licensed by the CBN, and insured by the NDIC.

The truth of the matter is that since last month, people have already adjusted to the cashless policy, and that is why most businesses you see now are making use of mobile transfers and POS terminals to carry out their daily transactions.

But one thing we know is that “for a government to practice this so-called cashless policy, they should ensure that there’s adequate banking network to enable people to cope with it.”

This Naira re-design has exposed the Nigerian banking sector, especially when it comes to reliable mobile banking networks. But where they failed, Opay thrived, which is why many people are trooping in and I’ve started using Opay.

So, therefore, if you’re still sitting there wondering how to pay for what you want to buy in a shopping mall, then you need to pay attention to this guide. Well, if you think after all you can pay with your ATM card, then you don’t know what will hit you.

I’m a fan of using card payments. Most of the things I buy these days I pay with card cos bank transfers can’t be trusted at times due to the network. But just this weekend, I got a few things and was about to pay with my card as usual, but it showed “Card Inoperative”, another network issue from the bank. If not that I have Opay, I wouldn’t be able to get what I need.

Now, like I told you, I’m going to show you how you can transfer money using Opay anytime you want to buy anything. Just follow the steps below accordingly so you can get it perfectly…

How to Transfer Money Using Opay

The first step you need to take is to fund your Opay wallet;

  • You can click on “Add Money” and select any of the options like Bank Transfer, Top-up with Card/Account, or you can visit an agent near you to fund your wallet.
  • The next step is to enter the amount you want to fund.
  • Click on “Add new payment option.”
  • Select either a Debit Card or Bank Account. For Bank Account, you’ll need to select your bank, enter the account number, enter your BVN, and then click “Confirm.” For a Debit Card, you need to enter the card details (16-digit card number, validity, and CVV number). Click “Confirm” once you’re done.
  • A verification code will be sent to you. Enter the code and click on “Complete Registration.”
  • After that, a pop-up message will show “Payment is successful” while your bank account will be debited, while your Opay account will be credited.

You can now go ahead and transfer to anyone;

  • You need to first click on “Transfer.”
  • Select either “To Bank Account” or “To Opay Account.”
  • Let’s assume you’re transferring to Bank Account, cos this is a popular option. So, click on Select Bank to select the bank you’re sending the money to, then enter the 10 digits account number (the account name will verify and pop up), then tap “Next.”
  • Crosscheck the account details you’re transferring money to, and then click “Confirm.”
  • Now, you have to select the payment method. Since you’ve already added money to your wallet, you can just select “Balance” and click on Payment.
  • You’ll be asked to enter your Payment PIN. You’ll have to create one if you don’t have one yet.
  • After that, your transaction will be successful once your payment is confirmed.
Guide on how you can transfer money using Opay

Also See: How to cope with the Naira scarcity amid the CBN policy

I Don’t Have an Opay Account

I understand that not everyone has an Opay Account. Opay became very popular in Nigeria since this Naira issue because of transfer issues. So, I’m going to help you create an Opay account right here…

You need to start by downloading the Opay app. For Android users, you’ll need to download it on >> Play Store.

For iOS users, you need to download on >> Apple Store.

  • Once the app is open, you can click on the “Me” icon.
  • Select “Sign in” at the top left side of the tab.
  • Click on “Create a new account.”
  • Now, enter your phone number and click on “Get OTP.”
  • A verification 6-digit OTP will be sent to you. Enter the code and click on “Confirm.” Remember to tick the terms and conditions box.
  • The next page is where you’ll have to set your password. Enter a 6-digit strong password, re-enter it, and click on “Done.”
  • There’ll be face authentication, where your image will have to be verified to ensure that you’re human.
  • Once your face is detected, you can now move to the next step.
  • The next stage is where you’ll have to enter your means of ID (BVN, NIN, Phone Number, Bank Account, Voter’s Card, or Driver’s License).
  • You can click “Skip” to move to the next step to enter your personal information (Full Name, DOB, and Gender). Then click “Next.”
  • Enter your current Address and click “Done.”
  • You can decide whether to enter your email address or not. If you enter the email, a verification code will be sent to you. Enter the code and click “Verify.”

Procedure to Get POS Machine

To guide you on the procedure of getting a POS machine is important in case you don’t like accepting transfers. With this, your customers can be paying with their cards and business continues.

Apart from banks, secondary mobile banking platforms like Opay, Palmpay, Moniepoint, etc., are equally offering POS machines.

  • All you need is to visit any bank branch and request an “Agent Account”
  • Get the form, fill it out, and ensure that you’re being given a POS terminal to start agency banking with the bank.


Remember, you’re entitled to a commission depending on the volume of transactions you carry out.

For instance, with N20,000 transaction where you charge customers a fee of N200, N100 will be added to your wallet as a commission from the bank.

So, you can see you’re not just helping your business move in this hard time, but you’re also earning commission from the bank as well.

To Apply for Opay POS Machine

Before you can be able to apply for an Opay POS machine, you need to know how to use the app very well, you must have carried out huge transactions for four weeks, and also ensure that you’re in the KYC Level 3.

Before you can upgrade your level from 1 to 3, you have to upload your picture, upload any of your valid ID documents (NIN, Voter’s Card, Driver’s License, or International Passport), upload your BVN, and then upload your utility bill.

After uploading, you have to wait for the processing and confirmation of your information.

Once you’ve upgraded to KYC Level 3, you’ll now have to switch your account to Merchant. How do you do this? Click on “Me” > click on your Account Details > select “Upgrade to Merchant” > fill out your Business Information and click “Next” > complete the application, and click on “Upgrade.”

Now, if you’re application is approved, the next thing is for you to click on “Merchant Apply” > fill out all the information required > upload your transaction history for the past 3 months > upload a valid ID document > take a picture of your business location and building/shop and upload > then click “Submit.”

You’ll therefore for review for your application to be approved.


As I told you, the purpose of this article is to make sure people find a way of carrying out their transactions irrespective of the cashless policy.

I believe that this period should never affect the day-to-day running of your business.

So, with the options above (Transfers and Card Payments), you’re right at the top of your game.


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