I keep getting the error "Restricted Account"
If you are unable to make a transfer and are seeing the error message "Restricted Account," there are several possible reasons for this restriction:
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Fraudulent Inflow: Your account may have received a suspicious or fraudulent inflow, leading to an automatic restriction for security reasons.
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Exceeding Account Limits: If you exceed the transaction limits associated with your current KYC level, your account will be restricted in accordance with CBN regulations.
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KYC Issues: Incomplete or outdated KYC (Know Your Customer) information can also result in account restrictions.
To avoid account restrictions due to transaction or account limit issues, ensure your KYC is upgraded to Level 3 by providing accurate and necessary documentation and information for KYC approval. This will remove transaction limits and prevent further restrictions.
For detailed information on the requirements for each KYC level, here.
To see how to upgrade your KYC, here.
Do not hesitate to contact us if you have any further questions or require additional information.