As a Starter Business on Paystack, there is a limit to how much you can receive over time, after which we expect you to upgrade your business to a Paystack Registered Business.
There are two set limits, depending on your verification level:
- A lifetime Two million Naira (N2,000,000) limit: This limit is applicable to Starter Businesses who have activated their business by providing only their government-issued ID and BVN.
- A lifetime Three million Naira (N3,000,000): This limit is applicable to Starter Businesses who, in addition to providing their government-issued ID and BVN, have taken an extra step of verifying their phone number via Truecaller. Here's how to verify your phone number with Truecaller.
Important to Note
The collections limit is the overall amount you can receive from your customers in a Starter Business' lifetime. It is important to note that there's no limit on the amount that you can receive per transaction from a customer at a time, as long as it is within the overall limit that has been set for your Paystack Starter Business.
Can I remove the transaction limit set for my business?
Yes - transaction limits are only set for Starter Businesses on Paystack. Registered Businesses can receive an unlimited amount of money over time, and you can upgrade your Starter Business to a Registered Business at any time.
Follow this link to know more about How to upgrade from a Paystack Starter Business to a Paystack Registered Business