Important to Note
This feature is only available for Registered Businesses in Nigeria at the moment.
A PT account is an account created in partnership with a bank to power Transfers for Paystack merchants.
This partnership with a Nigerian bank allows our merchants to initiate transfers seamlessly and efficiently from their Paystack dashboard. The feature has been developed with merchants that use Paystack for transfers in mind and to help resolve some challenges merchants experience in the past with transfers.
How does this work?
A PT account is set up with our bank partner for merchants that leverage Paystack transfers subject to their consent and provision of relevant documents. Merchants can fund their PT accounts for the purpose of transfers or refunds and initiate transactions seamlessly from their Paystack dashboard. Our integration with the Partner Bank allows all transactions on a merchant’s PT Account to reflect on their Paystack Dashboard.
What are the requirements for creating a PT Account?
Only Registered businesses in Nigeria are able to create a PT Account. If your business is signed up as a Registered business then you'll need to complete the Compliance process for your business. Here's more information on the required documents to complete compliance for your business - What documents do I need to complete the compliance exercise for my Nigerian business?
How can I generate a PT Account?
The PT Accounts can be created from the Paystack dashboard. Navigate to the Accounts tab on your dashboard settings and you'll see the PT Accounts section. Your documents will be submitted to our bank partners for the purpose of due diligence and setting up your PT Account and you will be required to consent to this.
If you're yet to provide your complete Compliance documents, you'll be prompted to do so as shown below. After clicking on the 'Complete Compliance Documents', you'll be redirected to your Compliance page to Complete Compliance for your business:
As soon as this is done, you can proceed with the steps below:
If you've set up and completed Compliance documents for your business, you'll be prompted to sign the Consent form to request a PT account. Click on the 'Sign Consent to Request' button as shown below:
To do this, you'll be required to provide the KYC details and sign or invite another member to sign the consent.
After submitting the KYC and signing the document, you will proceed to accept the terms and can then proceed to create the account.
After signing the consent form, you can then proceed to create your PT Account.
- You will see the 'Request PT Account' button, click on this.
- Your request will be received by our team. If everything checks out, your new account should be set up within 24 hours. You'll receive an email informing you of this and the account details will now be seen from your Paystack dashboard.
- If your request was not approved, you'll see a "An error occurred while creating your PT Account, please try again by clicking the button below," message on the PT page after clicking Accounts. We kindly suggest that you re-apply if you receive this error.
Via the API
This feature is not available via the API.
We currently support Titan Trust Bank.
How are the PT Accounts named?
By default, the PT account generated for your business will have your business name as registered in your business registration documents.
PT Account usage is free.