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List of Top Digital Banks in Nigeria – All You Need to Know!

List of Top Digital Banks in Nigeria – All You Need to Know! — Digital banking in Nigeria is growing faster than it ever has before, and that’s great news if you’re someone who values convenience, speed, and security above all else. with over 5 million Nigerians having accounts in digital banks and mobile money operators, it is easy to see why we are calling it a new trend. With everyone turning towards digital banking, there are numerous advantages associated with using digital bank accounts.

Here are some benefits that you can enjoy when you start using digital banking: Convenience, security and control over your money. You will no longer have to make a trip down to your bank just to deposit or withdraw cash from your account. You can do it all from home or even on your mobile phone if you prefer. This saves you time and effort and also helps cut down on costs such as transport fares, fuel etc. Using a digital bank account gives you total control over your money at all times because everything is done online. You can monitor your balance and transactions 24/7 via your computer or smartphone. Security has always been an issue with banks but thanks to digital banking, cyber criminals cannot easily get their hands on your hard-earned cash because they don’t actually handle any physical currency. Your money is kept safe in an encrypted virtual environment where only you have access to it.

But with so many digital banks in the market today, how do you know which one is right for you? Below is our list of the top digital banks in Nigeria, as well as some information about what they have to offer you.

1. Kuda Digital Bank

Kuda bank is among the best digital banks in Nigeria. It is owned by Kuda Microfinance Bank (RC796975) and pride itself in being the bank of the free.

Kuda bank take pride in offering for free, things that regular banks will charge customers for. They offer free ATM cards and free transfers. These are things you pay for with a regular bank. Kuda does not charge card maintenance fees.

Key features of Kuda:

Open an account in minutes
No paperwork required
You will be given an account number
Free debit card
Free withdrawal
No card maintenance fee
Savings
Loans
Budgeting
And more
Kuda is available on the Google Play Store and Apple app store. Remember to use EHREDWD4 as your referral code.

2. Rubies Digital Bank

Rubies bank offer a good personal and business digital banking experience. With a very easy to use app that is available for Android and iOS, customers can tap into the amazing offerings of Rubies.

They are highly rated and trusted. When opening an account, you have the freedom to choose your account number. This will help you customize how you want your account number to look. Maybe use your birthday, phone number or any number that means something to you.

Key features of Rubies:

Open an account in minutes
No documentation required
Customize your account number
Savings
Virtual card
Pay bills
Business banking
Rubies insurance
Money request
Loan
And more

3. V by VFD (Vbank) Digital Bank

V by VFD Bank also known as Vbank, is the leading digital bank in Nigeria. It is owned by VFD Microfinance bank, who is a member of the VFD Group.

Users can open an account as fast as two minutes without any paperwork required. They offer very impressive interest rates on savings.

The amazing thing is that users can become agents who are known as Veelagers, and make money referring people to the bank.

Key features of Vbank:

Open an account in 2 minutes
No paperwork required
You will be given an account number
Cardless withdrawal
Fixed Deposit
Budgeting
Loans
Target savings
Business products
And more
Vbank available on Google Play Store and Apple app store. Remember to use 4PEYE as your referral code.

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4. ALAT Digital Bank

ALAT bank is Nigeria’s first fully digital bank. It is owned and operated by Wema Bank. It is very easy to use and has lots of features. You can open an account with just few clicks.

There is no paperwork required to open an account. All you need is a phone number and BVN. Other information needed are things like your name and address.

Key features of ALAT:

Open an account in a few minutes
No paperwork required
You will be given an account number
Savings
Transfers and payments
Instant loans
Business products
Virtual dollar card
And more.
ALAT is available on Google Play store and Apple app store.

5. OneBank Digital Bank

OneBank is a digital bank that is owned and operated by Sterling Bank. The process of opening an account is simple and easy for non-tech savvy people.

It has an interesting feature known as “Ajo scheme.” Which is a way to invite your friends to start a contribution. Ajo is very common in major cities in Nigeria.

Key features of OneBank:

Open an account in minutes
No paperwork required
Savings
Invest money
Borrow money
Bills payment
Airtime and Data
Ajo Scheme
And more
OneBank is available on the Google Play Store and Apple app store. Remember to use MfonE013 as your referral code.

6. Sparkle Digital Bank

Sparkle bank is a digital bank with lots of promises on ease of payment and transactions. The man behind Sparkle is Uzoma Dozie, the former CEO of Diamond Bank which is now Access bank.

They have many amazing features that will make life comfortable for customers. You can split bills with family and friends. You can find a breakdown of how you spend your money and many more.

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Key features of Sparkle:

Open an account in minutes
No paperwork required
Savings
Physical and virtual cards
Sparkle Stash
Request money
Breakdown of spending
And more
Sparkle is available on the Google Play Store and Apple app store. Remember to use 1ZFRDE as your referral code.

7. GoMoney Digital Bank

gomoney is a digital bank in Nigeria created to foster a future where people have enough tools to make informed decisions about their money to enables people to send and receive money, as well as send payment requests, payment reminders, and payment receipts.

gomoney is developed by “gomoney Inc.” 20, Marina Road, Lagos Island. gomoney cards are authorised and powered by MasterCard and any other financial assets transferred from gomoney is granted by Sterling Bank.

You can also divide payments with friends or anybody else with a goMoney account. When you open a goMoney account, you’ll receive both physical and virtual cards. The goMoney app additionally keeps track of your expenses and spending, as well as your financial reports.

8. Eyowo Digital Bank

Eyowo bank is one of the best digital banks in Nigeria that believes that with a phone number, you should be able to use modern financial services for free of charge. As a result, they offer a simple and modern finance software that you may use with your phone number.

With just your phone number, you can send, receive, spend, save, and borrow money. You can send money to anyone in Nigeria using their phone number or any bank account. Payments for utility bills, among other things, can be made through the app.

9, Mintyn Digital Bank

Mintyn Bank Formerly Called Mint Digital Bank Was Founded In 2020, From The Realization Of The Gap In The Banking Industry – Using Technology To Transform The Way People Manage Their Money, Eliminate Excess Costs That Come With Owning A Bank Account In Nigeria – Cost Of Transfers (CoT), & Account Maintenance Charges And Serve Customers In A Way That Traditional Banks Hasn’t.

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