Reasons why paypal in Nigeria does not allow bank transfer

 As we all know we can receive funds on our Nigerian PayPal account but we can't transfer it to our bank directly for so many reasons best known to paypal only.

We are going to look into four possible reasons why paypal does not allow direct bank transfers.

Some of the reasons are;

1. Tax reasons

2. Trust

3. Race

4. Poor business strategy

1. Tax reasons

Nigeria is a non alignment state and this makes Nigeria unable to sign a tax treaty with the United States. 

PayPal is managed and controlled in the United States and before you can get full access to PayPal, you must either be a citizen of the United States or a citizen of a country which must have signed a tax treaty with the United States.

On withdrawing to your bank account maybe from your foreign paypal account, you'll see that some money would be deducted from your PayPal balance.

This money deducted is the tax you pay which is legal by the law of the United States.

So I don't know and I am not sure if receiving tax from countries like Nigeria (by the United States) that did not sign a tax treaty with the United States is legal.

This might be a possible reason why Nigerian PayPal is unable to do wire transfers to their bank from their PayPal.

2. Trust

There are some people who are into cyber crime which has become very rampant and popular among the Nigerian youths of today.

Many of the youths are not willing to work, all they do is to defraud people of their money by deceiving people who are working for their money pretending to be dating them so as to extort money from them.

With these, they destroy the image of Nigeria, they don't only practice these things in Nigeria, but they also go abroad to practice these things which has gotten to the notice of the United States and led to the arrest of many Nigerians who engage in cyber crime who are residing over there.

With this, Nigeria has lost most of it's trust and this might be the reasons why paypal decided to restrict wire transfer from PayPal in Nigeria.

3. Race

There is no doubt, Nigerians are black. In some part of the United States, black are still often disregarded even after the 'black lives matter' which was caused by the death of George Floyd. 

Race can also be one of the possible reasons why paypal does not allow wire transfer from PayPal to our bank directly.

Nigeria has always been limited when it comes to making money online. Apart from PayPal, there are other sites that has put some limitations on the amount they pay when it comes to Nigeria.

Some sites that pay may say they pay according to their locations. They would decide to pay those in the united states higher than the people in Nigeria. But I don't see any reason why they have to do this.

4. Poor business strategy

Nigeria as a country is considered by many countries as a place where business strategy is lacked and as a result of this reason, PayPal might have considered not allowing Nigerians to fully use PayPal.

Nigeria as one of the country that is regarded as one of the poor countries of the world has discooraged some foreigners to work in Nigeria because they might think they may not be able to make it here

But however, Nigeria is a blessed country that is filled with creative minds and successful people who are recognized worldwide. 

Foreigners can still make it if they strategize their deals and operations. If PayPal decides to allow wire transfer to Nigerian PayPal accounts today, I bet it, more people would love to work online because this wire transfer is what has made people to give up on making money online.

Why PayPal is so popular

Paypal is popular because it is accepted by many online money making methods and this has made PayPal so popular making Nigerians who also participate in online money making also use paypal.

Almost all Affiliate marketers, freelancers, YouTubers even bloggers make use of PayPal and this is the reason why PayPal is so much recognized by many online money makers.

Why do I need PayPal

You need PayPal as an online worker because many sites trust PayPal as a standard means of sending and receiving payments and thus this makes PayPal necessary for you to need PayPal

Is PayPal a safe place to keep my money?

Yes, PayPal is a safe place to keep your money because no one can just steal or hack your PayPal account. That is the reason why PayPal is trusted by many sites

Is PayPal worth it?

Paypal is worth it. Though, with Nigeria paypal account we are not able to do wire transfer to our bank account for reasons best known to PayPal, some Nigerians travel as far as Dubai to open a foreign account after obtaining some legal documents so as not to have limits on the funds they can receive.

If Nigerians are going as far as Dubai to open a foreign paypal account, then you'll know that PayPal is worth it.

Note:

The reasons mentioned above are just my suggestions and opinions on why paypal has refused to Grant wire transfer to Nigerian paypal accounts.

This was written to give you an hint on possible reasons why paypal has refused to Grant PayPal wire transfer to banks on Nigerian PayPal account.

This write up should not be quoted as it is a mere suggestion. You can tell me what you think in the comment section below.