What are The 10 Top Digital Banks in Nigeria

The 10 Top Digital Banks in Nigeria has been provided, please pay attention and read slowly and carefully for better comprehension. The administration of banking services via the internet is known as digital banking.

What are The 10 Top Digital Banks in Nigeria

Do you know that, You can simply conduct financial transactions online without visiting a local bank with digital banks?

In Nigeria for instance, digital banking is on the increase, this is because a lot of them gives out lucrative benefits and offers that you won’t find at traditional banks to be very honest.

You must have been hearing about The terms “internet banking” and “digital banking” right? I want to lmake you understand that, they does  not mean the same thing (not interchangeable).

So here is it – internet banking services goes a long way to help clients or customers in completing their various transactions, while digital banking goes far further than that.

Now get this – digital banking’s main goal is to digitalize all aspect of banking without requiring a physical location.

So If you the type that doesn’t like waiting in lines or long queues, then digital banking is for you! Now one other important thing is that, from the convenience of your own home, you will be able to open an account and conduct any transactions.

And then, you’ll be able to get an ATM card and most of the services that ordinary banks provide.

Another point to note is this; the interest rate on savings and fixed deposits is one benefit of utilizing a digital bank. It is frequently higher than what banks provide.

This is because digital banks don’t have to invest as much in massive employees and facilities, they may offer higher interest rates. So if you don’t have a digital bank then its advisable to get one!

If you’re worried about security, all of Nigeria’s major digital banks are regulated by the Central Bank of Nigeria and have deposit insurance. Now the duty of deposit insurance is to safeguards customers’ funds incase of any eventuality.

The 10 Top Digital Banks in Nigeria and their Key Features

Below are the top digital banks in Nigeria you should consider choosing from.

1. V for VFD (Vbank)
2. ALAT
3. KUDA
4. Rubies
5. OneBank
6. Sparkle
7. Eyowo
8. Gomoney
9. Fundall
10. Mint

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1. V for VFD (Vbank)

Features of Kuda & Requirements

V by VFD is Nigeria’s leading digital bank, often known as Vbank. VFD Microfinance Bank, which is part of the VFD group, owns it.

Individuals can create an account in about two minutes without having to fill out any documentation. They have some of the best savings rates around.

Customers may become Veelagers and earn money by referring others to the bank, which is rather remarkable.

Features of Kuda & Requirements

  • Create an account in about 2 minutes.
  • No papers is involved.
  • You will be given an account number of your own.
  • Fixed deposit with no withdrawal
  • Set a budget.
  • Borrowing (Loans)
  • Comes with savings account

And so many amongst them. To get this app please visit the Google Play Store and the Apple App Store to download.

2. ALAT

Features of ALAT & Requirements

ALAT is the first totally digital bank in Nigeria. Wema Bank owns and operates the facility. It’s simple to use and offers a lot of features. With only a few clicks, you may create an account.

To set up an account, no documentation is involved. A phone number and a BVN are all that is required of you. Your name and address are other important pieces of information.

Features of ALAT & Requirements

  • Create an account in seconds.
  • No documentation or any paperwork is involved.
  • ALAT will generate your own new unique personal account number.
  • Transfers and payments from savings
  • Instant money loans
  • Plus, there’s a virtual dollar card.

To get this app please visit the Google Play Store and the Apple App Store to download.

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3. KUDA

Features of KUDA & Requirements

Here is Kuda Bank, it is one of Nigeria’s greatest digital banks. Kuda Microfinance Bank (RC796975) owns it, and it is delighted to be a free bank.

They take pride in providing consumers with complimentary things that are often charged by banks. They offer free bank cards and transfers, which are normally charges at a typical bank.

NOTE! Kuda Bank does not impose any fees for card maintenance.

Features of KUDA & Requirements

  • Create an account in seconds.
  • No documentation or any form of written paperwork is required.
  • KUDA will create your own new personal account number.
  • Free withdrawals with a debit card
  • There are no card maintenance costs.
  • Savings \sLoans available
  • Making a budget and much more

To get this app please visit the Google Play Store and the Apple App Store to download.

4. Rubies

Features of KUDA & Requirements

Rubies provides a superb individual and professional digital banking services. Customers may take advantage of Rubies’ fantastic deals using a simple app accessible for Android and iOS.

They are knowledgeable and trustworthy. You can choose your account number when you open an account. This will allow you to personalize the look of your account number.

You can use your birthday, phone number, or any other number that is meaningful to you.

Features of Rubies & Requirements

  • It allows you to create an account within few seconds.
  • There is no paperwork required of you.
  • Make changes to your account number.
  • It comes with Savings account
  • Offers virtual card
  • the ability to Pay your bills with it easily.
  • Banking for businesses
  • Comes with Ruby coverage
  • Gives out loans upon request and so much more.

To get this app please visit the Google Play Store and the Apple App Store to download.

5. OneBank

Features of OneBank & Requirements

Sterling Bank owns and operates OneBank, a digital bank. For people new with technology, the process of creating an account is simple and clear.

It has a unique feature called the “garlic diet.” It’s a method for you to invite your friends to begin contributing. Garlic is frequently used in Nigeria’s major cities.

Features of OneBank & Requirements

  • It lets you create an account within few seconds.
  • No documentation/paperwork is required.
  • Allows Savings
  • Permits you to borrow money, and invest money
  • Invoices must be paid.
  • Time and data transfer
  • Scheme of garlic

And so many other benefits. To get this app please visit the Google Play Store and the Apple App Store to download.

6. Sparkle

Features of Sparkle & Requirements

Sparkle is a digital bank that focuses on delivering payments and transactions as simple as possible. Uzoma Dozie, the former CEO of Diamond Bank, which is now Access Bank, is the brains behind Sparkle.

They include a variety of unique features that will make customers’ lives easier. You can share accounts with relatives and friends and get information on spending money and other topics.

Features of Sparkle & Requirements

  • It enables individuals to create an account in seconds.
  • No form of documentation is needed.
  • Savings
  • Cards, both physical and virtual
  • Reserve gloss
  • In search of funds

And so much more. To get this app please visit the Google Play Store and the Apple App Store to download.

7. Eyowo

Features of Sparkle & Requirements

Eyowo is a cutting-edge digital bank with a slew of unique features. Opening an account is a simple and stress-free process. You may create an account in minutes by using your phone number.

Customers can borrow money at no interest, which is one of the many amazing advantages. In the banking world, it is sporadic.

Features of Sparkle & Requirements

  • Ability to create your account in seconds.
  • No documentation/paperwork needed.
  • No-interest loan
  • Comes with Savings account
  • Make a payment/transfer and receive funds
  • Offers Dollar card and debit cards
  • Ability to Withdraw funds without a card from any ATM machine.
  • Pay your bills.

To get this app please visit the Google Play Store and the Apple App Store to download.

8. Gomoney

Gomoney

Gomoney, unlike ALAT, is operated by Sterling Bank, a traditional bank. According to the duty, the Gomoney’s functions are twisted (inbound and outbound).

Split payments amongst pals, money tracking (shows you where your money is going), pre-approval transaction notification, payment scheduler, and more are among them.

9. Fundall

fundall degital banking

One thing that makes this degital bank unique is that, they make your financial life “smart,” as it ought to be, according to Fundall.

When you bank through Fundall,  as a customer, you get a Lifestyle card that you can use to process and track your payments. Immediate transfers, saves while you spend, bill payments, and money requests are also available.

10. Mintyn

Mintyn

La Monnaie is adaptable and understanding of the customer’s financial situation. This means there are no hidden fees, no excessive fees, and the Mint app gives customers with input and output visuals. Set spending restrictions, lock the card, and plan ahead of time.

  • it comes with 100% Online sign up
  • Has an unlimited Free Transfer
  • There is 24/7 customer support, any day-anytime
  • They are Insured by NDIC
  • It has Instant payment notifications
  • There is Cardless withdrawal
  • It helps you Save money every time you spend
  • Easy access to Mobile and online banking
  • Comes with Savings account
  • Free ATM Card and lots more

I hope you have gotten the best out of this. Now you can choose any of the digital banks you want and start enjoying the benefits that comes with it.

We’d love to hear from you if you’re currently using or have utilized any of these digital banks in Nigeria. Please tell us about your interactions with them. Please tell us if you prefer digital or traditional banking and why.

** Top Digital Banks in Nigeria **

LMA Team.

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1 thought on “What are The 10 Top Digital Banks in Nigeria”

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