Digital banking involves delivering banking services to customers over the internet rather than the traditional brick and mortar banking system. Over the years, there has been a gradual and ongoing shift in the mode of banking around the world. So, activities such as cash withdrawals, deposits, and transfer of funds no longer require physical presence of bank customers. Digital banks in Nigeria have also been on the increase.
Digital banking gives users the ease of accessing their financial information through mobile devices, desktop, and ATM services. A high level of web-based and automated processing is often involved and they may include cross-institutional APIs enabling service composition to provide banking transactions and products to customers.
There are top digital banks in Nigeria that have gained a good reputation over the years for their excellent service and customer reviews. So, if you are tired of the long queues you experience in traditional banks and would love to benefit from the juicy interest rates on your fixed deposits and savings which are often higher than those of traditional banks – since digital banks do not have to acquire huge physical facilities to function – then check out our curated list of top digital banks in Nigeria.
Kuda Bank
The Kuda Bank is referred to as the ‘bank of the free.’ It has a design that suits your smartphones perfectly and is void of ridiculous charges which are often levied on customers by traditional banks. The app is very efficient with budgeting, saving, and smart spending.
To get started, simply download the app and sign up with the required information. Thereafter, you can request a debit card that would help you make cash withdrawals. There is no cause for stress or worries over transactions. You can do whatever you’d like to do with your money directly from the app.
Users can save as much as they want with annual interests of up to 15%. You can also keep track of every expense you make through the app, and also qualify for fast loans after some time.
Creating an account on the platform only takes minutes without any paperwork required. You’ll receive your account number, a free debit card, and no deductions incurred over transactions, savings, or maintenance.
Download Kuda bank on Google Play and App Store.
Sparkle
Sparkle offers soothing banking services to Nigerians around the globe. They are one of the top digital banks we have in Nigeria, and they are licensed by the Central bank of Nigeria (CBN).
Sparkle has everything you’d want to achieve your financial goals – savings, investing, entertainment, or education. They also take pride in their level of transparency and trust which they hold as very vital values. With a very simple and clear pattern, there are no hidden charges incurred by users.
Unlike most traditional banks that get directed and redirected severally over a new bank account, Sparkle finalizes a new account opening in just a matter of minutes from anywhere around the world.
All you’ll need for your account opening are your email address, Bank verification Number (BVN), and phone number. It’s that simple!
In the case of a misplaced card, you can easily freeze your account and unfreeze it within the app. You can fund your account, manage your money, send and receive cash and do lots more.
Download the app on Google Play and App Store.
ALAT
ALAT is an innovation by WEMA Bank, and it boasts to be Nigeria’s first fully digital bank. There is so much that can be achieved with this app without you needing to be physically present at a traditional bank.
You can automate savings and bill payments, get collateral-free loans, schedule transfers, get and control your free bank card from your mobile device, and also receive a virtual dollar card for making payments online. The app has very easy-to-use features
In just minutes you can create your account. You’d need just your BVN, name, address, phone number, and a working internet connection. No paperwork is needed.
Download the app on Google Play and App Store.
Rubies
Rubies makes 100% digital top-level services and technology available to users around the country. As a user, you can decide how you want your account number to look. And in just minutes, you can create your own account with no special fees required.
Rubies allows you to create a free debit card which is delivered to you without charges. You can earn through the platform by referring new people and earning bonuses each time they transact on Rubies. You can also transfer cash easily to your family members and friends through the app.
Download Rubies on Google Play and App Store.
Eyowo
Eyowo believes that since you have a phone number, you should also be entitled to free access to modern financial services. Hence they provide an easy-to-use and modern finance app available for use with your phone number. The app allows you to send, receive, spend, save, and get loans all with your phone number.
You can always send money to other people via their phone number, and to any bank account in Nigeria. Utility bill payments can also be done using the app and so many more.
Download Eyowo on Google Play and App Store.
OneBank
OneBank comes with a wide range of sophisticated features to heighten user satisfaction on both financial and non-financial experience on the digital bank. The app’s features are easy to use and well secure for users. Other services involve investments, loan acquisition, informational, advisory, and lifestyle among others.
Some of the features and benefits of the OneBank app include self-registration, wallet account creation, authentication options, virtual card, send and receive cash, bill payments, cardless withdrawals, ATM and branch locator, transfer into foreign and local accounts, recurrent payment, and access to regular customer service.
You can create your account on the app with just your BVN, address, email, and personal data, and you are done in just minutes. You’ll also relish a dynamic news feed while using the app and scrolling forex.
Download the app from Google Play and App Store.
Mint
Mint helps you get help when you need it. In fact, the bank prides itself as the bank that puts you in control. So, instead of adding up the frustrating experience of queuing up at your local bank, waiting to be served, you can get timely help at any time of the day through this app. You can contact the customer service through emails, chat, social media, or visit their support page to receive solutions to simple issues.
The app allows you to manage your finances personally. You can set your spending limits, make future plans, and lock your card. The app also allows you to reserve funds for huge goals through their saving feature. And the beautiful thing is that your savings also accumulate interest rates after a while.
Download the app on Google Play and App Store.
Gomoney
Gomoney has features that are particularly targeted at aiding accountability of incoming and outgoing cash. It includes a money tracker that tracks everywhere your money goes and also your split-payments with friends.
Other features of the app include payment scheduler, transaction pre-authorization notice, and so much more.
Download Gomoney on Google Play and App Store.
Fundall
Fundall says they are your bank indeed. Your financial life just gets smarter and easier with this app. You’d get access to a free lifestyle card that helps you keep track of your finances and also make necessary payments too.
You also can pay bills, save, request cash, and make cash transfers when you want to. The app is currently available for download on Google Play and App Store.
VBank
With VBank, users can take their business to the next level by setting up employee income accounts to increase employee benefits. It is definitely more than that, it allows you to open any account including savings and salary accounts.
The app is an innovation of a microfinance bank called VBank. You open an account in just minutes through your smartphone and it is called a V account.
All you’ll require are your phone number, BVN, and email. No paperwork is needed.
You’ll be able to pay your bills after opening your account, make withdrawals through provided debit cards, manage budgeting, and achieve so much more.
Download the app on Google Play and App Store.
