What is the lifetime collections limit for Paystack Starter Businesses?
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.
NB: 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 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