PalmPay is a digital bank that satisfies your financial needs with features that allows you to make transactions such as sending and receiving money, paying bills, and more.

If you have been searching for a bank that helps you save, transfer funds seamlessly, pay bills, and offer other financial services, this is where Palmpay comes in.

It is for you if you have never heard of earning while you spend, Palmpay gives you a clear picture of what that means with its cashback feature.

For someone who finds it difficult to join other activities, because you need to visit the bank, Palmpay brings the bank to you and frees you from the stress of a physical visit.

PalmPay

USSD Code

*652#

Rating

(4.5 / 5)

GOTO SITE

Transfer of funds on Palmpay is simple and swiftly done.

You can enjoy a lot of free transfers to other banks per month while transfers made to a Palmpay account are always free.

This platform is a digital money operator that is licensed by the Central Bank of Nigeria. This means your funds are well secured and Palmpay is legit.

You can refer others to create accounts and earn up to ₦2,000 for each referral.

If you want to make money on the side, you can register as a Palmpay POS agent and earn high commissions by bringing financial services to your community.

PROS

It helps to make your money move as swiftly as you want it.
You can pay bills, buy airtime, purchase data subscriptions, Dstv, etc conveniently on your app.
It helps you focus on other activities that might have been interrupted by satisfying all your financial needs from the comfort of your home.
This platform also creates job opportunities for those who will like to sign up as their POS agents.
It enables the agents to earn more money by offering low charges, attractive commissions, etc.

CONS

There is no browser version of the app yet, which means you cannot use the app if you do not have a mobile device.
You can only make 3 free transfers to other banks in a day.

How to get Palmpay App

Download the app via the App Store or Play Store for Apple and Android mobile devices respectively.

Install the app and follow the prompts to create an account (you can create an account on the app even if you do not have a BVN).

Fill in the required details and get ready to move your funds however you wish.

After you open the app, click on the sign-up button and input your active phone number with your country code, verify the number and enter your preferred 4-digit pin, then click on “confirm”.

PalmPay Referral Code

The PalmPay referral code is 1IW6MX and you can use it to earn up to 2,100 when you sign up and start doing transactions.

The good thing is, you can increase your earnings by telling your friends which makes it one of the best platforms to earn money by inviting your friends.

PalmPay USSD Code

The PalmPay USSD Code is *652# and you can use it to check your balance and access basic services like buying airtime, checking your account balance and completing transactions.

Features of Palmpay

This is a digital mobile app that allows you to send funds, make payments, pay your bills, and shop online, from your home.

It has the “spend and earn” feature where you can pay bills, shop, purchase data, or airtime, and a specific per cent is returned to you via discounts and cash backs. This allows users to save a reasonable amount of money on the app.

This platform also consists of “enterprise products” that are offered to business owners to help scale and grow their businesses.

Aside from receiving and sending funds, there are other ways to make money via the Palmpay app. You can make money by playing the lucky draw game on the app, cash spree, rewards on all transactions made on the app, joining Palmforce, and awoof moni.

Playing Lucky Game: This game is like a draw. A lucky draw is made where you stand a chance of winning different cash prizes, airtime coupons, and discounts.

This game is a game of luck so you might as well not win anything. However, it is a game worth playing. You have to be a frequent user of Palmpay who makes transactions regularly before you are given a chance to participate in the lucky draw game.

Cash Spree: This is another way to earn money on the Palmpay app. It is a referral feature that allows you to earn money as soon as you invite someone and they create a Palmpay account with your referral link. You earn ₦300 for every person you refer who opens a Palmpay account and the invitees also receive a welcome bonus.

Rewards on other transactions: Other transactions such as paying bills, buying airtime, etc, usually come with rewards. The rewards might be in the form of Palmpoints or discounts. A 50% discount can be given to you when you purchase airtime. Also, a palm point is equivalent to ₦1. You can equally earn a bonus of 2% discount whenever you pay bills like electricity and TV subscriptions. However, it is important to note that this discount only applies to the first 5 bill payments you make.

PalmForce: This is another feature that allows you to earn on Palmpay. Whenever you refer up to five people who successfully register on the app, you automatically qualify as a Palmforce member. As a Palmforce member, you can now earn real cash instead of palm points on referrals. As soon as you refer people and they create an account on Palmpay, your rewards are paid directly into your account. In addition, when the invitee(s) make a transaction, you will earn a bonus depending on how much is used in the transaction.

Awoof Moni: This is also a referral-earning feature, however, a bit different from the others. In awoof moni, you and the person invited get rewarded. For instance, if you sent an airtime coupon worth a particular amount to a registered user or someone who is yet to register and they redeem it, you will get a cashback of the amount you sent once the recipient redeems the coupon. This is a great way to get airtime for free just by referring friends.

The account has 3 tiers. Level 1-3. If you registered your account with just your phone number and name, your daily limit of transactions is ₦50,000 and the daily account balance is ₦300,000.

For level 2, you have to upgrade your account with your phone number, full name, government-issued ID, and BVN. This allows you to have a daily limit of ₦300,000 and an account balance limit of ₦500,000.

For level 3, the same as level 2 applies plus your KYC verification. This allows you to have a ₦5 million daily transaction limit and an unlimited daily account balance.

Palmpay FAQs

IS PALMPAY A SAFE MONEY APP?

Yes. It is safe. Palmpay is owned by Transnet Financial, a reputable and recognized company. Your deposits are secured and well protected.

HOW CAN I DEPOSIT FUNDS INTO MY PALMPAY ACCOUNT?

All you have to do is;

Go to your profile dashboard and click on “fund”, enter the amount you wish to deposit, select a payment method(you can select an already linked debit card or add a new one), select your bank, enter your security pin, wait for an OTP to be sent to you via your phone number or email and use the OTP to complete the transaction.

HOW MANY FREE TRANSFERS CAN I MAKE TO OTHER BANKS FROM MY PALMPAY ACCOUNT?

You can make up to 90 free transfers to other banks in a month (a maximum of 3 daily) after which N10 is deducted for subsequent transfers.

WHY IS MY PALMPAY ACCOUNT NOT LOADING ON MY COMPUTER?

The browser version of the Palmpay app is not available for now. It can only be accessible on your mobile devices.

IS IT TRUE THAT SOME PHONES HAVE THE PALMPAY APP PRE-INSTALL LED ON THEM?

Yes, the recent Infinix, ITEL, and Tecno phones all have Palmpay pre-installed into them. This is because of the partnership between those mobile companies and Transsnet. Palmpay is owned and managed by Transsnet, hence the app is pre-installed on those phones.

HOW CAN I REFER OTHERS ON PALMPAY?

Click on the “me” button on your dashboard, click on “invitation” and tap the “share” button. You can share the link or copy and paste it on any social media platform to invite your friends.

HOW CAN I EARN MONEY ON PALMPAY?

You can earn money on Palmpay through bonuses, rewards, and cash-backs.

IS PALMPAY LIKE A BANK ACCOUNT?

Palmpay is an online wallet and digital payment platform which is licensed by the Central Bank of Nigeria to offer several financial services to customers through its mobile application.

CAN I PURCHASE OR RENT THE PALMPAY POS MACHINE?

You can do both. You can decide to rent it, always meet the daily target and pay a cautionary or renting fee of 20k or 30k depending on the type of pos machine you rented. This money will be refunded if you decide that you are no longer interested in the pos business as long as the machine is returned with no damages.

You can also decide to outrightly purchase the Palmpay pos machine.

HOW MUCH CAN I GET THE POS MACHINE?

You can buy the traditional pos machine for N40,000 and the android pos machine goes for ₦60,000.

HOW MUCH IS CHARGED FOR A POS WITHDRAWAL?

For every ₦1000 withdrawal, 0.5% o more is charged on withdrawal. This means you will be charged ₦5 for every ₦1000 withdrawals, ₦25 for ₦5,000, and so on.

HOW CAN I GET A PALMPAY POS?

Create a Palmpay account, download the pos app known as “Palmpartner” on your app or google play store, you can log into the Palmpartner with your Palmpay account login details or create a new one if you don’t have one. Click on “Apply for POS” on the platform dashboard and follow the prompts to complete the process.

You must make sure your account has been upgraded and if not, you can do it within the Palmpartner app. After you apply for the pos machine, one of the customer service team will reach out to you.

DOES PALMPAY OFFER LOAN?

Yes. Palmpay offers loan services to customers

HOW CAN I GET LOAN ON PALMPAY?

Before you apply for a loan on Palmpay app, you need to make sure your BVN is linked with your account. Click on the “finance” button and tap “apply”, you will be required to enter two people’s mobile numbers and then submit your loan request.

Once this is done, wait a few minutes for the loan to be approved then you can withdraw it into your bank account if you wish.

HOW MUCH INTEREST IS CHARGED ON LOAN?

You can be charged an interest rate that ranges between 5-10% on your loan.

WHAT IS OK CARD?

This is another loan application method on Palmpay. You can also use this to apply for loans however, you can only borrow a maximum of N10,000 with this method.

WHY SHOULD I USE OK CARD?

It is not compulsory to use the Ok card but one of its advantages is that it is an interest-free loan.

HOW CAN I ACCESS THE OK CARD METHOD?

Click on “Ok card”, follow the instructions, and get up to N10,000 interest-free loan.

CAN I FUND MY PALMPAY ACCOUNT VIA USSD?

Yes. You can fund your Palmpay wallet via GTB using *737#

HOW CAN I CONTACT PALMPAY CUSTOMER SERVICE?

You can send an email to [email protected] or call 070072564357 to contact Palmpay customer service for any inquiries.

You can get more information by visiting its website.

Palmpay aims towards making sure users have the banks in their pockets with a well-versed user-friendly app that consists of several features to make financial services and products very accessible.

It provides business owners with tools that will help them manage their businesses, make and receive payments easily, grow their customer audience as well as expand their revenues.