Six Top Digital Banks in Nigeria and Their Features
Digital banks are actually a recent trend in the Nigerian Fin tech industry. And they are a welcome development for people who do not enjoy the hassle of standing on long queues, filling forms and other sorts of inconveniences experienced in brick and mortar banks.
That is not the only advantage digital banks have. In addition to the convenience of banking anytime and anywhere you want, digital banks also offer high interest rates on savings and fixed deposit accounts, compared to brick and mortar banks.
Though, digital banks are meant to have no affiliations to brick and mortar banks, ironically, the first digital bank in Nigeria was created by a physical bank.
In it's 70th year of operation, Wema Bank in 2017 under it's now retired CEO launched the first digital bank in Nigeria, ALAT.
Although some people argue that it is not the first digital bank given that it was created by a traditional bank.
Be that as it may, after the creation and launch of ALAT, other digital banks were also created.
Free interbank transfers for first 200,000 users till June, 2021
Supports bill payments and airtime recharge
Issues virtual debit card
Over 100k downloads on Google Play Store
So, If you are tired of traditional banking methods and wish to bank at your convenience, you can try any one of these banks. They are all fully registered and liscenced by the Central Bank of Nigeria Microfinance Banks.
Thanks for reading :)
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