How to Withdraw Flexi Credit on Palmpay
Palmpay, the popular mobile wallet and payment app, has recently added a new feature that enables users to withdraw Flexi credit to another bank account or to their Palmpay wallet. This is great news for Palmpay users who want to access their funds easily and quickly. In this comprehensive guide, we'll show you how to withdraw Flexi credit on Palmpay in just a few simple steps.
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5 steps to withdraw your loan from Flexi credit to palmpay account or to other banks
- Update Your Palmpay App
The first step to withdrawing your Flexi credit on Palmpay is to ensure that your Palmpay app is up to date. If you haven't updated your app recently, go to the Google app store on your phone and download the latest version of Palmpay. The new updates application has the feature
- Verify Your Account
Before you can withdraw Flexi credit on Palmpay, you need to verify your account. This is a security measure to protect your funds and ensure that only you can access them. To verify your Palmpay account, go to the "Me" tab on the app and click on "Settings". Then, click on "Verification" and follow the instructions to verify your identity. You'll need to provide some personal information, such as your name and ID card number, and upload a photo of your ID card.
- Switch to Flexicash Payment Method
Read More: Borrow Money from PalmPay Without BVN
To withdraw your Flexi credit, you need to switch the payment method to Flexicash during any transaction like other bank transfer, airtime and other online transactions. Simply select the Flexicash payment method when you're making a transaction, and the funds will be deducted from your Flexi account.
For example, if you want to transfer money to another bank with Flexi credit, kindly follow the steps below;
- Go to Home Menu
- Click on Send Money
- Type the amount you want to send
- Select bank and beneficiary
- It will pop up with payment option, kindly switch to Flexicash
- Click on the amount you borrow and proceed with payment
- Withdraw Your Funds
Once you've switched to the Flexicash payment method, you can withdraw your funds. To do this, go to the "Me" tab on the app and click on "Withdraw". Select the amount you want to withdraw and the account you want to withdraw it to (either another bank account or your Palmpay wallet). Palmpay charges a fee of #4 for every #1000 withdrawn on Flexicash. The fee will be deducted from the amount you're withdrawing.
For Instance, if you withdraw #10,000, Palmpay will deduct #40 as interest fee everyday till you are able to refund all your debt.
- Wait for Your Funds to Arrive
It takes 0-60seconds for funds to be transferred from Flexi credit to Palmpay account
Once you've requested a withdrawal, your funds will be processed and sent to your chosen account. The amount of time it takes for your funds to arrive depends on the receiving bank. Typically, it takes 1-2 business days for the funds to arrive in your account.
withdrawing Flexi credit on Palmpay is now easy and cost-effective. By following these simple steps, you can access your funds quickly and at a low cost. Whether you want to withdraw to another bank account or your Palmpay wallet, the process is straightforward and hassle-free. So why not give it a try today and enjoy the benefits of Palmpay's new feature?
Frequently Answered Question
What is Flexi credit on Palmpay?
Answer: Flexi credit is a feature on Palmpay that allows users to borrow money and pay it back at a later time. It's a convenient way to access funds when you need them.
Can I withdraw my Flexi credit to any bank account?
Answer: Yes, you can withdraw your Flexi credit to any bank account in Nigeria.
How long does it take for my funds to arrive after I request a withdrawal?
Answer: The amount of time it takes for your funds to arrive depends on the receiving bank. Typically, it takes 0-5minutes for a successful withdrawal transaction
How much does Palmpay charge for withdrawals on Flexicash?
Answer: Palmpay charges a fee of #4 for every #1000 withdrawn on Flexicash. The fee will be deducted from the amount you're withdrawing.
Do I need to verify account before I can withdraw Flexi credit?
A:Yes, you need to verify your Palmpay account before you can withdraw Flexi credit. This is a security measure to protect your funds and ensure that only you can access them.
Question: Can I withdraw my Flexi credit to my Palmpay wallet?
A: Yes, you can withdraw your Flexi credit to your Palmpay wallet. Simply select the Palmpay wallet as your withdrawal account when you make a request.
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