7 Trusted Digital Banks In Nigeria

Published by Gladness Akinpelu on

Nigerians will certainly testify to the stress that comes with solving problems at various physical bank branches.

A typical Nigerian will always pray never to have problems with the bank, because of the unpleasant conditions associated with it.

In addition, due to technological advances, a better way to resolve problems in physical banks is to ensure a world-class customer-bank experience through digital banking.

What are digital banks?

Digital banks are banks that function fully over the Internet without the development of physical infrastructure and facilities.

They need not have any physical branch, since all their transactions are done with ease on the internet.

However, digital banks should not be mistaken for online banks, as online banks developed by banks with physical branches provide a simple service for the customers to perform easy transactions without going, while the digital banking system is developed to run various transactions to ensure the optimum customer experience.

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In other words, you just have to install the digital banking app on your phone and have a better banking experience if going to the physical banks is tiring.

Listed below are the top 7 digital banks in Nigeria

1. Kuda

Kuda has really made great waves in the fintech industry such that its service has encouraged a lot of better companies to partner with them and a lot of people also bank with them.

Kuda bank is a Micro-finance bank. There are a lot of benefits attached to banking with Kuda, such as; free transfer and bank cards. Personally, my bank charges 10 naira and more to make a transfer to another bank. Isn’t that too much?  Kuda has made life easier for bank users to easily transact without deducting any fee.

Kuda is available on Google Play and Apple App Store.

2. Rubies

They offer a top-notch customer-to-bank experience by developing an app that makes it easier to transact. Their app is available on Google Play Store and Apple App Store.

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 Another interesting thing about Rubies is that, you get to choose the way you want your account number to look like, that is, you can customize the way your account number should look also, and you get to create virtual dollar cards online too. Isn’t that interesting?

3. Alat

Alat is a fully functional digital bank owned by Wema bank. It is really easy to use, and it comes with different functions. The transaction speed is excellent too.

There is no paperwork required; all you need is your bank verification number and phone number to get started.

4. goMoney

goMoney is a digital bank with a fully functional bank app that aids the tracking of expense rates and updates you on your financial reports.

It also allows its users to send money, receive money, send payment requests, send payment reminders, and share payment receipts with ease.

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A goMoney account also allows you to split payments with friends or anyone. You also get physical and virtual cards when you open a goMoney account.

5. Mint

It is a digital bank that encourages high authority over your own money. One of the features that makes Mint a user’s best choice is the ability to set and reset how much you spend your money in your account.

You can also lock your card if you want to. To open a current account with Mint, you need to register with a sum of #2000.

6. Fundall

Fundall is a digital bank in Nigeria that aids in saving, planning of budgets, and payments of bills. This digital bank also offers insurance services and access to lending.

7. Vbank

Opening an account with Vbank doesn’t take more than 2 minutes, similar to Fundall; Vbank helps you in planning your budgets. To open an account you only need your phone number and your bank verification number.

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