Notification texts go here Contact Us Buy Now!

List of Top 10 Digital Banks in Nigeria 2022

Digital Bank is also known as Neobank. It is a new wave of banking sector that has been adopted by most countries in Africa, especially Nigeria, South Africa and Kenya. 

The main aim of digital banks in Nigeria is to digitalized the entire banking activities, however, it completely different from internet banking.

Unlike traditional banks in Nigeria, they offers internet banking, that is, they provide mobile apps to manage all you banking activities on the go, which is kind of similar to digital banking that all its activities are done online, starting from opening of account, verification of your identity, getting ATM card, performing transactions and many more. You do not need to go to any physical location or office to access your account.

Also ReadHow to Create a Chipper Cash Account

Since digital banks don't possess any physical location (all activities are done online), they can offer higher interest rate on savings account and lower fees on banking transactions.

What can you do with Digital Banks?

Using a digital bank in Nigeria is superb

{tocify} title={Table of Contents}

With Digital Banks, you can perform all kind of banking activities from your smartphone including transfer, bill payment (airtime top up, data top up), order ATM card, request statement of account, lend a loan and lots more.

These Digital Banks are regulated by Central Bank of Nigeria and deposits are insured by Nigeria Deposit Insurance Corporation, NDIC. So you are safe keeping your funds with digital banks in Nigeria.

Also ReadUltimate Guides to Use the Eversend App

However, in this article, I have discussed the list of best digital banks in Nigeria. Remember to leave a comment after you finish reading and do more by sharing this article anywhere in the world.

Top 10 Digital Banks in Nigeria

1. Kuda Bank

Kuda bank

This digital bank happens to be the first mobile- only bank in Nigeria that's got their license from the CBN.

Kuda Bank is owned by Kudi Microfinance Bank. It is a registered company with the registration No. Rc796975. The bank was first know as Kudimoney and later rebranded to Kuda.

Kuda is Bank of the free. That is, they offers their services for free. They offer free atm card, free transfer and Kuda doesn't charge for card maintenance.

Additionally, Kuda bank allow you to open an account in minutes. No paperwork is required, you will also be given an account number, free debit card and no fee will be charged when you make a withdrawal. 

There are many more features in the Kuda mobile app such as savings, loan and budgeting. The app is available for download at Google play store for Android users and iOS app store for iPhone users.

Learn more about Kuda, know more about Bank of the Free.

2. ALAT

Alat by Wema

This is another best digital bank in Nigeria that is powered by WEMA Bank.

ALAT claimed to be the first digital bank in Nigeria. Don't get me wrong. Kuda happens to be the first mobile- only bank not first in the digital era.

Also ReadTop 5 Apps to Buy US Stock in Nigeria

Just like most digital bank in Nigeria, ALAT offers free debit card deliver to your door step. They also offer virtual card that can be used to purchase anything online (online shopping). In conclusion, ALAT allows you to perform the usual digital banking transactions as well.

Download ALAT app here >>> for Android users and for iPhone Users.

Learn more about ALAT Digital Bank.

3. $Abeg

Abeg app is a digital bank in Nigeria

Abeg app is a digital bank in Nigeria and a proud sponsored of BBNaija in 2021. It is also a social payment app that allows its user to send, receive, withdraw and request money.

I can call this a digital bank too because all its activities are done on line via its mobile app.

Just like CashApp, $Abeg app works by using a special cash tag (Abeg tag) assigned to your account to receive fund from another Abeg user. Deposit can be done via your local bank account or mobile payment.

The digital bank is a baby company to Abeg Technologies which was founded in 2019.

Abeg App is available on both Android app store and iOS app store

Learn more about $Abeg App.

4. Rubies Bank

Save and Easy Digital Bank

Rubies Bank is a one kind digital bank in Nigeria that don't only offer services that is based in Nigeria, but also target some international benefits for its users.

This digital bank offers current account, savings account, investment, money request, business banking and virtual cards.

Rubies offers zero-fee banking targeting businesses and most especially SMEs and Fintech companies.

Also ReadWhat is Non-Fungible Tokens [NFTs]

Additionally, Rubies bank let you mange recurring payment, ability to request money and ability to send invoice.

Rubies is available on Google playstore for Android users and iOS app store for iPhone users.

Learn more about Rubies Bank.

5. OneBank

OneBank

This is another best digital bank in Nigeria powered by Sterling Bank. This Institution offer savings account, current account, loans, Cardless withdrawal, Investment, domiciliary account and lots more.

OneBank is a digital bank that let you make use of your account immediately you register - make payment, invest and borrow money via its mobile app. The bank also offer business loan of up to 5-millions Naira - No collateral, No paperwork.

Other features you can access on OneBank are ability to pay bills such as airtime and data top up, opportunity to daily contribution (called Ajo scheme), and lots more.

OneBank mobile can be accessed on both Playstore and App store.

Learn more about OneBank.

6. Vbank

Join the digital bank revolution

The V represent Virtual. That is, a virtual bank which is also known as digital bank. No need to go to any physical building for banking activities.

Vbank is a digital bank that offers free virtual account for her customers. This account can perform all activities that a traditional or local bank offers.

Also ReadTop 10 Fintech Blog in Nigeria

The Vbank mobile app comes with many benefits. Is it to talk about the zero transactions charges they offers, or about the zero card maintenance charges.

In the app, you can also do Cardless withdrawal, pay for bills, do budget planning, target savings and additionally, set up biometric for stronger security.

Lastly, vbank digital bank allows it users to track expenses and income, group budgets and set up spending limits.

Vbank app is available on the Google play store and iOS app store for easy download.

Learn more about Vbank.

7. Sparkle

We're not a bank. We're more than

Sparkle is another best digital bank in Nigeria that was created by former CEO of diamond Bank and now part of access bank.

Sparkle offer free personal and business account for its users. For the personal account, normal banking activities are offered. And for the business account, you'll be able to keep track inventory, send out invoice to your customers, as well as analysis your transactions history.

Other features/activities that are available on sparkle app are ability to pay bills, view transactions history, send money, block ATM card, do cashless withdrawal etc.

Download the Sparkle mobile app on Google Play Store or Apple app store.

Learn more about Sparkle Digital Bank.

8. Mintyn

Building you own legacy with Mintyn digital bank

Mint also known as Mintyn - is a digital bank based in Nigeria in which its account is provided/powered by Finex Microfinance Bank.

The Finex Microfinance Bank is licensed by Central Bank of Nigeria and deposition is insured by NDIC - Nigeria Deposit Insurance Corporation.

Mint bank card is insured by providus bank licensed by MasterCard.

To register or sign up on Mint doesn't require any paperwork. All you need to do is download the My-Mint-App on Google playstore for Android users or iOS app store for iPhone users.

Also ReadA Quick Gulde of Opening a Domiciliary Account in Nigeria

Mint Digital Bank offers it users current account, personal savings account, with some amazing features like personalised money tracker, scheduled transfer, instant loans, mutual funds at 30.5 percent per annual and lots more.

Learn more about Mintyn.

9. Fundall

Fundall - Your Bank Indeed

The Fundall is a digital bank in Nigeria that allow its users to invest safely and pay bills, save money and do easy budget.

However, on Fundall App, you can easily get access to lending and insurance service, plus estate planning [wills and trust] service.

The digital bank provide a AI bot that act like personal-wealth manager for its users. 

Fundall is available for download on Google play store or iOS app store.

Learn more about Fundall Bank.

10. Eyowo

Eyowo is a Nigerian local currency

This is the last on our list of best digital banks in Nigeria. Eyowo is the olden days money spent in Nigeria. Now a digital bank in Nigeria that allow you to save, send, receive, borrow, and withdraw with just your phone number.

Eyowo digital bank offer loan at zero interest rate. They also offer a free virtual card on Eyowo app for online purchases.

Eyowo app is available on Playstore and App store.

Learn more about Eyowo.

Conclusion: Best Digital Banks in Nigeria.

Digital Banks has been trending in the banking sector in Nigeria. With the situation of things now, In the next century, there will no be physical or local banks anymore.

Thanks for reading my Top 10 banks in Nigeria. Please do more by sharing this article anywhere in the world. Best regard.

Also ReadThe Difference between eNaira and Cryptocurrency

Getting Info...

About the Author

Hello! My name is Stephen. I'm a content writer. I write stories about Finance, Businesess and Technology. Contact me via the contact page. Thanks.

Post a Comment

Cookie Consent
We serve cookies on this site to analyze traffic, remember your preferences, and optimize your experience.
Oops!
It seems there is something wrong with your internet connection. Please connect to the internet and start browsing again.
AdBlock Detected!
We have detected that you are using adblocking plugin in your browser.
The revenue we earn by the advertisements is used to manage this website, we request you to whitelist our website in your adblocking plugin.