It’s great to have digital banks in Nigeria and you can also put money or valuables deposited in any commercial bank in Nigeria, but wouldn’t you prefer to conduct your financial transactions in a more efficient place like digital banks.
With digital banks, you can conduct banking transactions without visiting a traditional bank.
Digital banking is the delivery of banking services over the internet. In addition, digital banking is gaining popularity in Nigeria.
Some of them provide appealing benefits that aren’t available at commercial banks. Now let us take a look at which digital banks are the safest and most secure places to keep your money.
Digital banks are similar to traditional banks in that they are safe places to keep your money because they are regulated by the CBN.
There are numerous advantages and benefits to using online digital banking, including no transaction fees and greater interest rates.
The Central Bank of Nigeria (CBN) has awarded online virtual banks a digital banking license to operate electronically.
These fin-tech companies provide digital payment and administration services to small businesses and individuals.
Commercial banks, on the other hand, may require you to transact business at one of their locations.
With these virtual banks in Nigeria, anyone may conduct any transaction from the comfort of their own home.
These digital banks in nigeria also lack physical branches, as well as infrastructure and conference spaces.
With these banks, you’ll be able to conduct virtually all transactions using simply your mobile phone and the Internet.
Top 10 Best Digital Banks In Nigeria
The following are Nigeria’s most prominent web financial firms with digital banking licenses:
Digital banks in Nigeria, here we have Mint which is a reputable digital bank that aims to give Nigerians more financial freedom.
With Mint as your bank, you can set spending limits on your account, lock your card, create virtual cards and fund them, and set up regular payments.
Mint bank also allows the user to create a current account for as little as $2,000 in your account balance. The Mint banking app is available for both Android and iOS devices.
GoMoney is a Nigerian digital bank that allows users to send and receive money, and also send payment requests, reminders, and receipts.
With a goMoney account, you may also split the money with friends or anybody else. You’ll get both physical and virtual cards when you sign up for a goMoney account.
Your expenses and spending, as well as your financial reports, are all tracked by the goMoney app.
Alat is a Nigerian digital bank run by a commercial bank (Wema Bank). The above online banking tool advertises itself as Nigeria’s foremost digital bank.
Alat, like the majority of digital banks, offers free debit cards that are mailed to your home. There are also virtual cards to choose from.
With Alat, you can save alone or in groups. Standard banking transactions are also possible. You can also acquire rapid loans if you have an Alat account.
When users open an account with Rubies Bank, they can produce virtual dollar cards. This is one of Nigeria’s few digital banks that assists with future billing management.
Rubies also offer savings and investing options, as well as the ability to request money and create invoices. Rubies is a mobile game available on Google Play and other platforms for Android and iOS.
Digital banks in Nigeria, Eyowo is a leading digital bank that thinks that everybody with a phone number should be able to access modern financial services for free.
As a result, they provide straightforward and up-to-date financial software that you can access using your phone number.
You can send, receive, spend, save, and borrow money with only your phone number.
You can send money to anyone in Nigeria via phone or bank account. The app may be used to pay for utility bills, among other things.
This bank has indeed been duly authorized by the CBN to operate a number of sophisticated features that aim to boost user happiness with the digital bank’s financial and non-financial offerings.
The app’s features are simple to use and dependable, according to users.
The OneBank app includes self-registration, mobile payment account setup, verification choices, virtual card, send and receive cash, bill payments, card-less withdrawals, ATM and branch locator, transfer into foreign and local accounts, recurrent payment, and regular customer assistance.
You may create an account on the app in minutes with just your BVN, address, email, and personal information. You can watch a live news stream while using the software and surfing currencies.
This is a Nigerian internet bank that offers personal and business financial services. With simply your cell number and BVN, you can open a VBank in 2–3 minutes.
VBank was established in April 2021 and holds a digital banking license to conduct financial transactions. Since then, the bank has grown to over 250,000 customers.
You can use the bank account to do any transaction that a traditional bank would allow. There are no fees for bank transfers, bill payments, withdrawals, or savings.
You can download the latest VBank 3.0 version to take advantage of card-less withdrawals, multiple fund transfers, and other features.
Sparkle is another reputable Nigerian digital bank founded by Uzoma Dozie, the former CEO of Diamond Bank, which is now owned by Access Bank.
Sparkle has two accounts, one for personal usage and the other for business purposes. The personal account comes with a debit card, a spending tracker, customizable savings, bill payments, and other financial services.
With the Sparkle business account, you’ll be in charge of keeping track of inventory, sending out invoices to clients, and analyzing your payments. However, you can take care of your taxes.
The Kuda Bank, sometimes known as the ‘bank of freedom, is Nigeria’s most popular leading digital bank.
It has a clean design that goes well with your mobiles and is free of the extortionate fees that traditional banks frequently charge their customers.
This software makes budgeting, saving, and smart spending much easier. To get started, simply download the app and fill out the required information.
You can then apply for a debit card, which will allow you to make cash withdrawals.
Transactions aren’t something to be concerned about. You may do whatever you want with your money right from the app.
All of those are Nigeria’s most well-known virtualized banks, with a long history of excellent service and positive customer reviews.
However, if you’re tired of waiting in lengthy lines at commercial banks and want to take benefit of great interest rates on your fixed deposits and savings, then take a look at our list here in Glass Suite of the best digital banks in Nigeria 2022.