August 11, 2022
Best Digital banks in Nigeria - bantng

Best Digital banks in Nigeria - bantng

Introduction to Digital Banking

Over the years, traditional banks in Nigeria have gradually lost their position in creating a favorable environment for fast banking and other financial transactions. Some of the well-documented problems with traditional bank clients are suspicious payments and quick decision problems. Sometimes it is better to wait half a month in a Nigerian bank than twice. Lack of frustrating communication and lack of empathy to solve the problem means that traditional banking is a few years ahead of digital banking. Traditionally, the main objective of the Nigerian bank seems to be to increase profits through the sale of energy, rather than to eliminate the employment crisis. Nigerian traditional banks have made great strides in card issuance. Some of these cards are intended for international customers. Many Nigerian banks are also affiliated with foreign banks. Therefore, it is possible to send money across the country. We can say that the first ones waited a few days for the card to be released. Customers can select their debit card almost immediately. You just have to go to any bank. Even if you have to fill out a form, you can be sure that you will receive your debit card immediately.

Definition of a Digital Bank

Digital banking can be described as the transition from physical banking to virtual or online banking. If you can imagine banking with an online app outside the bank, then you have the idea of ​​digital banking. The biggest advantage of digital banking is always “freedom” and “simplicity”. Digital banking is a continuous gift and can be the first banking system with no weaknesses or restrictions. Some digital banks, such as Kuda, Rubies and ALAT, have taken the game one step further by allowing and providing their customers with excellent banking services for free. Of course there is no better time for banks. With digital banking, applying for a debit card is free and takes a few days. Digital banking remains here, but it wouldn’t surprise anyone if traditional banking stalls in the past.

Top 12 Best Digital Banks in Nigeria

Kuda : Top 12 Best Digital Banks in Nigeria

Kuda Bank is a digital bank owned by Kuda Microfinance Bank. We take pride in being a free bank because we offer free products that are billed by other banks. For example, they issue free ATM cards, free debit cards, and free money transfers. You do not pay any maintenance costs for the card. Some of Kuda Bank’s features include free withdrawals, free debit cards, savings accounts, and budgets. You can download their app from Google Play or the Apple Store.

Vbank : Top 12 Digital Banks in Nigeria

VBank is managed by Microfinance Bank VFD. You can download WeBank from Google Play or the Apple Store. With WeBank, you can open an account over the phone in minutes. you don’t need paperwork All you need is a BVN and a phone number to open an account. Its features include paperless ATM withdrawals, deposit accounts, loans, targeted savings, commodity transactions, and budgets.

Alat : Top 12 Digital Banks in Nigeria

ALAT is a fully virtual bank operated by traditional Nigerian bank Wema. It is one of the best digital banks in Nigeria. You can download these apps from Google Play or the Apple Store. ALAT supports instant online loans, virtual dollar cards, savings deposits, money transfers, virtual account creation and online payments using virtual cards.

You do not need paper to open a bank account. All you need is a phone number and a BVN. If you are a Wema customer, you can get your ALAT account through Wema bank accounts. You can also get it with a local or international cash or credit card.

You can open a personal savings account or a commercial bank account. With your account you can pay taxes, pay taxes and transfer money.

Rubies : Top 12 Digital Banks in Nigeria

Ruby is a virtual bank that offers personal and business accounts. You can download the application from Google Play or Apple Store. You have the freedom to choose your account number so that you know what your account number looks like. There is no document required to open an account. Some of Rubis Bank’s features include insurance, commercial banking, loans, virtual cards, savings, investments, cash planning and bill payments.

Sparkle : Top 12 Digital Banks in Nigeria

Sparkle is a Nigerian digital bank operated by the former Diamond Bank, former CEO of Access Bank. You can download their app from Google Play or Apple Store. This bank offers excellent banking activities and emphasizes security and protection against fraud. No documents are required to open an account.

Its features include archiving, physical and virtual cards, money laundering, and Sparkle Stash. You can also request a separation of your Sparkle costs.

Onebank : Top 12 Digital Banks in Nigeria

OneBank is a digital bank operated by Starling Bank. You can download the application from Google Play and Apple Store. The account opening process is simple and straightforward, and you don’t need to be technical savvy. This Ajo program allows you to run a campaign with bank contribution. This feature allows you to invite friends to contribute.

It has excellent features for investing money, lending money, paying bills, savings account and ajo plan. No documents are required to open an account.

Eyowo : Top 12 Digital Banks in Nigeria

Eyowo is a digital bank that helps customers to open an account within minutes. You can download the app from Google Play or Apple Store. There is no stress when opening an Eyowo account. No documents are required to open an account.

Eyowo offers the following banking features, debit cards, dollar cards, payment fees, debit card withdrawals, savings accounts, interest-free, scanning and paying capabilities. In addition, we offer interest-free loans.

Mint : Top 12 Digital Banks in Nigeria

Mint is a digital bank in Nigeria and can be downloaded from Google Play or the Apple Store. It has unique features that allow you to classify bank transactions, track payments, set budgets, and receive free credit points. You can set cost limits and block cards.

Fundall : Top 12 Digital Banks in Nigeria

Fundall is a fintech company offering a wide range of financial services from bank accounts to savings and loan accounts to individual and corporate clients across Nigeria. Although not a bank, its banking services are provided by Provideus Bank, a regional bank based in Lagos. The bank also issues Vervenaira credit cards and virtual dollar MasterCards. Thanks to the great app, Fundall has a special focus on saving and investing, with powerful budgeting and analytics, financial advisors with artificial intelligence, and even the ability to invest money and get life insurance.

Gomoney : Top 12 Digital Banks in Nigeria

GoMoney is a small Nigerian digital bank focused on simplicity. Their main goal is clarity, so their offerings are completely minimal. Receive invoices and cards and have little or no banking work. Even if they are advertising their savings accounts soon. But what goMoney doesn’t offer isn’t a special feature, it’s a handy app to track your expenses faster. GoMoney is also a great option if you want to open an account without BVN, thanks to a layered verification system that makes it easy to get a limited account.

Kredi : Top 12 Digital Banks in Nigeria

Umba : Top 12 Digital Banks in Nigeria


Final Thoughts About Virtual Bank Accounts in Nigeria
Many people prefer to hire online bankers in Nigeria to make it more convenient. With online banking, you can manage your budget, set spending limits, and save and send money. You can fund your virtual bank accounts with a debit or credit card, while you can withdraw money through an ATM, credit or debit card. Some of these banks even offer virtual dollar cards in Nigeria. You can control your virtual bank account with your mobile phone via the app.

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