OPAY REVIEW - Is It Legit? My Honest Insider Opinion (2024)

Let's rewind a bit to a time frame between February and March 2023 when the federal government of Nigeria was trying to introduce new naira notes into the country ahead of the Elections.

The story is well known. Cash was in such low supply as has never been seen before. Banks experienced such terrible network issues. Banking transactions were so stiff. But in all that turmoil one digital bank was prominent, OPAY. They had it all from fast transfers, and zero charges to almost seamless services.

Stay with me on this article as we explore the nukes and crevices of this app called Opay.

Important note: Use code “7048824016” as your referral code to activate bonus.

WHAT IS OPAY?

OPay is a digital wallet application which allows users to send and receive money, purchase airtime and data, settle bills, and accrue interest on savings, borrow loans and lots more. The platform's goal is to enhance the accessibility and affordability of financial services for Nigerians and other Africans.

Opay is already a household name among digital bank and microfinance bank users.

When it comes to sending and receiving money, buying airtime and data, paying bills, saving or securing funds, and accessing loans, they are one of the go-to places. Moreover, it provides discounts, cashback, rewards, and coupons.

Important note: Use code “7048824016” as your referral code to activate bonus.

OPAY REFERRAL CODE:

The working Opay referral code is “7048824016”. Use it in your sign-up and don't forget to fund your Opay wallet with your own account to get a bonus of N1200 on your registration.

HOW DOES OPAY WORK?

Opay works by enabling you to create a digital wallet on your mobile device, providing a means to store funds and conduct a variety of transactions.

You can fund your Opay wallet by linking your bank card, bank account, or through USSD code. You can also receive money from other OPay users or agents. Once you have money in your wallet, you can send & receive money to and from any bank account, pay bills and utilities, buy airtime and data all free of charge.

WHEN WAS OPAY LAUNCHED?

Opay was founded in 2018 and has achieved an incredible amount in under 3 years: $38 million in revenue in 2020 (ended 2020 with an annualized revenue run rate of nearly $70 million) Raised $570 million in funding.

OPAY OWNERS:

OPay was originally founded by AS Opera Group, a Norwegian web browser company owned by Chinese billionaire Yahui Zhou. As of November 2021, Opera held an 85% stake in OPay.

In October 2023, Opera announced its intention to sell its entire stake in OPay to Kunlun Tech Co., Ltd., a Chinese technology company based in Shenzhen.

Although, this deal has not been finalized so as of now Opera Norway AS Group still retains ownership.

Important note: Use code “7048824016” as your referral code to activate bonus.

HOW TO SIGN UP FOR OPAY:

Follow these steps to sign up for Opay:

• First download Opay official app .
• Open the Opay app and tap on the "Sign Up" button.
• Enter as “7048824016” your referral code.
• Enter your phone number, full name, date of birth, and email address in the corresponding fields.
• Set a password and agree to the terms of use.
• Verify your phone number with the OTP sent to you.
• To further increase and unlock more juicy benefits of Opay, complete a KYC verification.
• Enjoy the benefits of Opay, such as instant transfers, airtime and data top-ups, bill payments, debit cards, Owealth, and more.

OPAY SPECS AND FEATURES:

Opay has numerous features and specs which meet the needs of their users. They include:

Opay Savings:

Opay has up to 5 different savings features each with its own specialty designed for customers to save funds in the best possible way they want. These features include

• Owealth: It is a savings feature within the OPay app that allows you to earn daily interest (15% p.a) on your deposited funds. Think of it as a high-yield savings account accessible directly on your phone.

• Target Savings: It allows users to earn high interest (15% p.a) on their deposited funds while aiming for specific financial goals.

• Safebox Savings: This is a strict savings feature with an automatic deposit spec which works daily, weekly or monthly transferring funds to your wallet and saving them up all with an interest of 15% p.a. It locks the funds and tells you available days of withdrawal.

• Fixed Savings: It allows users to earn interest on their fixed deposit savings. It has 2 features which are locked and unlocked. If you choose locked you won't be able to access the funds until the maturity date. The interest varies depending on the amount being saved. For amounts greater than ₦300,000 the interest is between 15%-18% for the first ₦300,000 and 6% for the rest. For less, the interest is 15%-18%

• Spend-and-Save Savings: This allows users to save a predetermined portion of money (1%-10%) which you spend. This is also coupled with an interest of 15%.

Important note: Use code “7048824016” as your referral code to activate bonus.

Opay Loan Service:

Opay offers loan services to its customers through one of its affiliated apps called EaseMoni. This doesn't mean you need to create an EaseMoni account or download the app. Everything can be gotten within the Opay app.

Using Opay one can borrow loans ranging from ₦1,000 to ₦1,000,000. This can be done in minutes. The interest for loans is 5% p.a

Betting Funding:

Opay lets you fund your favorite betting platform right from your dashboard. You just need to enter the user ID associated with your betting account, the amount you want to fund and it gets funded within minutes.

Airtime:

This lets you buy airtime from your favorite service providers at discounted price and with cashbacks to beat down the price.

Data:

You can buy heavily discounted data bundles from your favorite internet service providers at low prices.

Electricity:

You can easily pay for your electricity bills right from your Opay dashboard. It's quick and reliable.

TV:

You can easily pay for your cable Tv subscription and never miss a moment of your favorite programs and shows from DStv to Startimes, Gotv and lots more. All cable Tv providers are available for you to choose from right from your Opay. You also get cashbacks if you pay through Opay.

Important note: Use code “7048824016” as your referral code to activate bonus.

HOW TO BORROW MONEY FROM OPAY:

You can easily borrow and pay back money from Opay using the following simple steps:

• Open the Opay app and go to the Finance Section.
• Select Loans
• You'll see EaseMoni, select it.
• Complete the application by putting in your details: Your full name, BVN, bank account details, employment and income level.
• OPay will review your application and provide a decision within minutes.
• If approved, you'll receive a loan offer stating the loan amount, interest rate, repayment period, and other terms.
• If you agree with the loan terms, accept the offer within the app.
• The loan amount will be instantly credited to your OPay wallet.
• Repay your loan on time through the "Loan" section of the app using your OPay wallet balance, debit card, or bank transfer.
• Track your repayment progress within the app.

Important note: Use code “7048824016” as your referral code to activate bonus.

OPAY USSD CODE:

Opay official USSD code is *955#. Once dialed with your Opay phone number, you can access your account and perform transactions such as: transfer, savings, adding money, airtime and betting funding.

You can ass well send money to your Opay account from any bank through a special USSD format.

To do this follow these steps:

• Open the Opay app
• Select Add money
• Select USSD
• Select the bank you would like to send money from to your Opay account.
• Select the amount
• A USSD code will be generated with a timer
• Dial the code and confirm the transfer with USSD
• Come back to the Opay app and confirm that you have sent it
• Check your balance.

Opay Referral program:

Opay has one of the juiciest referral programs. As of the time of writing this article Opay is currently offering a referral bonus of ₦800 per new user you refer. Your friends also get a ₦1200 sign up bonus for joining. But note that the person being referred must fund his/her Opay wallet from their own account for the bonus to be activated.

Opay welcome Bonus:

Opay is currently offering a ₦1200 welcome bonus to new users. To be eligible you have to use the code "7048824016" on sign up. The bonus will be applied after registration and first funding of your account.

IS OPAY LEGIT?

Yes, Opay is legit. It has over 10 million+ downloads on Google play store and Apple store with a rating above 4 out of 5. It is backed by CBN and insured by NDIC.

IS OPAY WORTH IT?

Yes, Opay is worth it. Consider going an entire year without having to pay transfer fees, having your airtime and data purchase always being discounted, think of how much money you could save.

It is also worthy of note that Opay is one of the top banks when it comes to sending and receiving money (3 seconds on average).

Important note: Use code “7048824016” as your referral code to activate bonus.

OPAY CUSTOMER REVIEWS:

Here are some Opay customer reviews sourced from Google Play Store:

OPAY REVIEW: FINAL VERDICT

Opay is a worthwhile and legitimate digital wallet app that lets you make seamless payments online. It offers daily cashback and rewards users for just using their app.

I highly recommend you download it and use Opay today. Remember to use code "7048824016" to get a ₦1200 sign up bonus upon registration.