Top Digital Banks In Nigeria

by Auwal Abdullahi

Once upon a time, people were not using Digital Banks. In this year, digital banks have become more popular than it was before.

With the use of digital banks, many people have been enjoying transactions at low fees. However, the low fees don’t matter in some cases but financial needs.

However, Let’s take a tour to benefit those who didn’t know the difference between digital and Mobile Banks.

The difference is; Digital Banks refers to banks that have neither branch nor banking hall for the meant of transaction.

While the mobile banks are with physical infrastructure, which offers their services both online and offline (in their branch).

Digital Banks has become one of the best ways to carry out financial transactions, so I decide to list out top Digital Banks in Nigeria.

We have just noticed 30% of the transactions are made by Digital Banks. This has helped to bring a vital towards making an easier transaction.

When using their services, your bank is always with you. An average person would ask me how? Yes, you heard it right.

Your phone is your bank; you can fund your wallet from any bank. Digital Banks exist not to tie you down with extra charges like alert fees and ATM Maintenance fees.

Benefits Of Digital Baking

Knowing the benefits of Digital Banking will make you want it more, so I decided to mention some.

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No Transfer Fee

How does it feel to transfer money without paying for transfer fee? Isn’t that good? Yes, that is what you will get when you decide to give digital banking a try.

It is the main reason why many people prefer Digital Banking for their daily transactions.

Digital Banking will surely meet your financial needs.

Alert takes a little bit of time to deliver

Many people have decided not to use digital banking due to problems during transactions. But this time I assure you that all the problems have been fixed.

Alert takes less than 20 seconds to deliver. Every smartphone can be used to perform a transaction.

Cashbacks And Bonuses

Digital banking is offering cashback and bonuses you may not get in your regular bank.

These bonuses include free transfer without the need to pay a transfer fee. The most exciting part of digital banks is; they offer interest when you deposit your money for a fixed time.

Where else can you get all these benefits? Probably, there is no.

Free Card

Digital banking offers free cards, and these cards include Master Card, Visa Card, and Verve card.

You can choose your preferred card, guess what? You are always on your phone. Your card will be delivered to your address for free.

Even regular banking didn’t offer cards for free. You can spend your card anywhere online, fast, and easy to use.

Customers can also use the same card to withdraw money from any ATM Machine, but in this case, there is a little charge.

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No ATM Maintenance Fee

If you are using regular banks, I believe you were once frustrated with ATM Maintenance Fee.

Digital banks would never charge you for the ATM Maintenance Fee. However, you can decide to request a card or not.

24/7 Support

Digital Banks care about their customer’s demands, which is why they offer 24/7 Support.

There are many ways to connect with the digital bank’s support, and those ways include;

  • Live Chat
  • Phone Call
  • Via Email

I strongly suggest live chat for a fast response.

TOP Digital Banks In Nigeria

Below is the list of top digital banks in Nigeria.

1. Kuda Bank

Kuda Bank

Kuda Bank is also known as KUDI Money or Bank of Free; it’s the number one Digital Bank in Nigeria, owned by Kuda Microfinance Bank.

They exist to simplify your daily transaction without charges, unlike regular banks that charge you for every transfer.

Kuda offers a free card that can be used to spend everywhere online. I also announced its partnership with Payoneer, which enables customers to receive Global payment. You can learn more about it here.

However, below are some key features of Kuda Bank.

  • Unlimited free transfers to 25 Banks, including regular and Mobile Banks
  • Free Card
  • No Maintenance Fee
  • Earn 200 per referral

Kuda Bank app can be found on Google Playstore. Please, use my referral code D9EIF4XP when signing up; doing so would earn me a small commission from Kuda. It’s up to you to use my referral code or not.

2. ALAT By WemaALAT By Wema Bank

ALAT by Wema offers a digital bank experience; it’s one of the best bank application I love the most.

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This bank was owned and operated by one of the Nigerian regular banks, widely known as Wema Bank.

However, below are some key features why I suggest the use of ALAT By Wema.

  • Paperless sign-up, no need to visit any branch for account activation
  • Get your account ready in minutes.
  • Receive money from any bank
  • Customers can request instant loans.
  • Every successfully registered user is eligible to send and receive payment.

ALAT by Wema app can be found on Google Play Store.

3. V by VFD (Vbank)

V by VFD (Vbank) is a bank with many benefits; this one has promises to provide its users with experience with digital banking experience.

The man behind V by VFD is Azubike Emodi; He worked with Zenith Bank, then he later joins Maxxon Pro Service Inc.

V by VFD has in-app features that provide users with a fully digital banking experience.

When it comes to safety, you don’t need to worry that banks like this usually have deposit insurance, which protects customers’ money when something goes wrong.

Some Key features Of V by VFD

  • Paperless sign up without the need of visiting any branch for activation
  • Customers can use the Budget feature to track the amount they spend monthly.
  • Careless withdrawal
  • Send and receive payments online.

V by VFD can be found on Google Play Store.

This post will be updated, So I recommend you to bookmark this page so that you would be refreshing it daily.

Thanks for reading.

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