Top 10 Best Digital Banks in Nigeria (2024)

Having your money or valuables put in any of the best banks in Nigeria to open an account is good but would you prefer to conduct your financial transactions in a more convenient manner? You may simply conduct banking transactions online without visiting a conventional bank with digital banks. The provision of banking services via the internet is known as digital banking. Furthermore, digital banking is becoming more popular in Nigeria. Many of them provide enticing perks that you won’t find at traditional banks. Let’s look at which digital banks are the best where you can put your money safely and securely.

best digital banks in Nigeria


Digital banks are online virtual banks granted digital banking license by the Central Bank of Nigeria (CBN) to operate virtually. Small enterprises and individual people can use these fintech companies for digital payment and management services. Commercial banks, on the other hand, may need you to visit their branches in order to conduct business.

Anyone can conduct any transaction from the convenience of your own home with these virtual banks in Nigeria. Furthermore, these internet banks lack actual branches, as well as physical infrastructure and meeting rooms. You will be able to do practically every transaction with these banks using only your cell phone and the Internet.

A digital bank is also distinct from online banking. Commercial banks employ internet banking to relieve customers of the inconvenience of visiting banks for transactions. Digital banks, on the other hand, operate entirely online and do not have any physical locations where transactions are conducted.

Digital banks are almost like physical banks, they are safe to put your money as they are also regulated by the CBN. There are also many advantages and benefits of using online digital banking, with no charging fees and higher interest.


The following are the leading cloud-based financial institutions with digital license to operate digital banking in the country:


The Kuda Bank ranks as the most popular leading digital bank in Nigeria known as the ‘bank of freedom.’ It has a sleek appearance that complements your smartphone and is free of the obscene fees that conventional banks frequently impose on their consumers. Budgeting, saving, and smart spending are all made easier with this software.

Just download the app and fill out the essential data to get underway. After that, you can apply for a debit card that would allow you to make cash withdrawals. There is no need to be concerned about transactions. Straight from the app, you could do whatever you want with your funds.


Sparkle is another top Nigerian digital bank you can trust that was formed by the erstwhile CEO of Diamond bank, presently part of Access bank; Uzoma Dozie. Sparkle has two accounts: one for personal use and one for corporate use. A debit card, an expense tracker, customized saving, bill payments, and other banking services are all included with the personal account.

You’ll be responsible for keeping track of inventory, send out invoices to your customers, and analyze your payments with the Sparkle business account. You can however take care of your taxes.


VBank is a Nigerian internet bank that provides financial services to both individuals and businesses. You can start a VBank in 2 – 3 minutes with just your mobile number and BVN.

The VBank was founded in March 2021 and has digital banking license to operate financial services. The bank has since grown to over 250,000 customers. The bank account allows you to do any transaction that a regular bank would allow. Bank transfers, bill payments, withdrawals, and savings are all included.

You can get the latest VBank 3.0 version to use cardless withdrawals, numerous funds transfers, and other capabilities.


OneBank has been dully licensed by the CBN to operate a number of advanced features that aim to improve user happiness with the digital bank’s financial and non-financial services. Users will find the app’s features to be simple to use and trustworthy.

Self-registration, mobile payment account creation, verification 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 are just a few of the features and benefits of the OneBank app.

With simply your BVN, address, email, and personal information, you may create an account on the app in minutes. While using the program and surfing currency, you’ll also enjoy a live news feed.


Eyowo is one of the best digital banks that believes that if you have a phone number, you should be able to use modern financial services for free. 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 may 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.


Rubies bank allows you to create virtual dollar cards when users create an account with them. It is one of Nigeria’s handful digital banks that helps in managing future billing. Savings and investing services, as well as the option to request money and make invoices, are among Rubies’ other features. Rubies is an Android and iOS game that can be downloaded from Google Play and other platforms.


Alat is a Nigerian digital bank administered by a traditional bank (Wema Bank). This online banking app bills itself as Nigeria’s premier digital bank. Alat, like most digital banks, provides free debit cards that are delivered to your home. They also have virtual cards available.

You can save alone or in groups with Alat. You can also conduct standard banking transactions. If you’re an Alat user, you can also get access to quick loans.


GoMoney is another Nigerian digital bank which enables people to send and receive money, as well as send payment requests, payment reminders, and payment receipts.

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.


Mint is a trusted digital bank that aims to provide more Nigerians financial autonomy. You may set spending limits on your account, lock your card, create virtual cards and fund them, and set regular payments with Mint as your bank.

Mint bank also allows you to open a current account with as little as ₦2000. The Mint banking app is available for both Android and iOS devices.


These are Nigeria’s leading cloud based banks, which have built a solid repute for exceptional service and consumer feedback over the years. So, if you’re weary of the long lines at conventional banks and want to take advantage of the high interest rates on your fixed deposits and savings, have a look at our concise overview of the country’s best digital banks this 2024.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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