A virtual dollar card is a type of prepaid card that can be used to make online transactions. A Virtual dollar card is very useful for individuals and Startups who do online transaction. In this article, we’ll be taking a closer look at how to get a virtual dollar card in Nigeria, including the steps you’ll need to take and the documents you’ll need to provide.
Table of Contents
What Is A Virtual Dollar Card?
A virtual dollar card is a type of prepaid card that can be used to make online transactions. Virtual dollar cards are typically issued by banks or other financial institutions and can be used just like a traditional debit or credit card. The main difference is that a virtual dollar card is not a physical card, it exists only electronically. A virtual dollar card can be used to make purchases online, pay bills, etc. They are particularly useful for people who frequently travel abroad, make online purchases from foreign websites or need to make transactions in foreign currency. Virtual dollar cards can be used in any country where Visa or Mastercard is accepted.
How To Get Virtual Dollar Cards In Nigeria
Choose a Bank or Financial Institution:
The first step in getting a virtual dollar card in Nigeria is to choose a bank or financial institution that offers the service. Most major banks in Nigeria, such as GTBank, Zenith Bank, and UBA, offer virtual dollar cards. You can also find virtual dollar cards from other financial institutions such as Interswitch.
Gather the Required Documents:
Once you’ve chosen a bank or financial institution, you’ll need to gather the required documents. These typically include a valid government-issued ID (such as a national ID card or international passport), a utility bill to prove your address, and a recent bank statement. You may also be required to provide proof of income, such as a salary slip or tax return.
Complete the Application:
After you’ve gathered all the required documents, you can complete the application for the virtual dollar card. This can typically be done online or in-person at a bank branch. The application process will typically include providing your personal information and submitting the required documents.
Wait for Approval:
Once you’ve completed the application, you’ll need to wait for it to be approved. This can take anywhere from a few days to a week. You’ll be notified by the bank or financial institution when your application has been approved.
Activate the Card:
After your application has been approved, you’ll receive the virtual dollar card. You’ll need to activate it before you can use it. This can typically be done online or by calling the bank’s customer service number. You’ll be asked to provide your personal information and the card’s activation number.
Start Using Your Virtual Dollar Card:
Once your card has been activated, you can start using it to make purchases online or withdraw cash from ATMs. You can also use the card to make transactions in foreign currency. Keep in mind that the card may have certain limits on the amount of money you can withdraw or spend.
Top Platforms To Get Virtual Dollar Cards In Nigeria
There are a few top platforms where you can get virtual dollar cards in Nigeria, including:
Banks:
Most major banks in Nigeria, such as GTBank, Zenith Bank, and UBA, offer virtual dollar cards.
Payment Processors:
Platforms such as Paystack, Flutterwave, Chipper Cash and Interswitch offer virtual dollar cards as well. These platforms allow businesses to accept payments online, and some also offer virtual dollar cards to individuals.
Digital Wallet Providers:
Some digital wallet providers in Nigeria, such as OPay and Paga, also offer virtual dollar cards. These can be linked to your digital wallet account and can be used to make purchases online or withdraw cash from ATMs.
Cryptocurrency Exchanges:
Some cryptocurrency exchanges such as Binance, Luno and BitPesa allow users to link their account to a virtual dollar card, allowing them to use the funds stored in their account to make purchases online or withdraw cash from ATMs.
It is important to note that the availability of virtual dollar cards may vary depending on the platform you choose, and it is a good idea to research the fees, limits, and other terms and conditions before getting one.
Top 5 Best Virtual Dollar Cards In Nigeria (2023)
Chipper Cash Virtual Dollar Card:
Chipper Cash is a mobile-based platform that offers peer-to-peer money transfers and payments services. The platform also offers a virtual dollar card which is linked to your Chipper Cash account. The Chipper Cash virtual dollar card can be used to make purchases online or withdraw cash from ATMs in any country where Mastercard is accepted. The card is designed to help users to transact in foreign currency without incurring extra charges, making it a convenient and secure option for those looking to make transactions in foreign currency. The card can be easily managed through the Chipper Cash mobile app and it allows users to make payments, transfer money and also withdraw cash from ATMs.
ALAT Virtual Dollar Card:
ALAT is owned and operated by Wema bank which is one of the commercial banks in Nigeria that offers a variety of financial services to its customers, including a virtual dollar card. The ALAT virtual dollar card is a prepaid card that can be used to make purchases online or withdraw cash from ATMs in any country where Mastercard is accepted. The card is linked to your ALAT by Wema account and can be easily managed through the mobile app. The card is designed to help users to transact in foreign currency without incurring extra charges. It’s a convenient and secure option for those looking to make transactions in foreign currency and can be used as an alternative to carrying cash or traditional credit cards while travelling abroad.
Wallets Africa Virtual Dollar Card:
Wallets Africa is a Fintech platform that enables users to make payments and transfer money. The platform also offers a virtual dollar card which is linked to your Wallets Africa account. The Wallets Africa virtual dollar card can be used to make purchases online and is designed to help users to transact in foreign currency without incurring extra charges, making it a convenient and secure option for those looking to make transactions in foreign currency.
Eversend Virtual Dollar Card:
Eversend is a Ugandan-based FinTech platform that offers a variety of financial services to its customers, including a virtual dollar card. The Eversend virtual dollar card is a prepaid card that can be used to make purchases online or withdraw cash from ATMs in any country where Mastercard is accepted. The card is linked to your Eversend account and can be easily managed through the mobile app. The card is designed to help users to transact in foreign currency without incurring extra charges, making it a convenient and secure option for those looking to make transactions in foreign currency. The card also allows users to make payments, transfer money and also withdraw cash from ATMs.
Importance of A Virtual Dollar Card
Convenience:
A virtual dollar card eliminates the need to carry cash or multiple credit cards while travelling abroad. It can be used to make purchases online or withdraw cash from ATMs, just like a traditional debit or credit card.
Safety:
A virtual dollar card can be a safer option for making transactions compared to carrying cash or a physical credit card. If a virtual dollar card is lost or stolen, it can be easily cancelled and a new one can be issued.
Exchange Rate:
A virtual dollar card can help to mitigate the risks of currency fluctuations, which can be especially beneficial for those who frequently travel abroad.
Online Shopping:
A virtual dollar card can be used to make purchases on foreign websites that do not accept payment in local currency.
Multi-Currency:
A virtual dollar card can be used to make transactions in foreign currency, which can be useful for those who frequently travel abroad or make online purchases from foreign websites.
Cost-Effective:
Using a virtual dollar card can help to avoid the high fees associated with currency conversion and international transactions.
Overall, virtual dollar cards are a great option for those looking for a convenient and secure way to make transactions in foreign currency. It is important to be aware of any fees or charges that may apply when using a virtual dollar card and to choose a reputable issuer.
Final Thoughts
Getting a virtual dollar card in Nigeria is a fairly straightforward process, as long as you have the required documents and meet the bank’s eligibility criteria. With a virtual dollar card, you can make purchases online or withdraw cash from ATMs, and make transactions in foreign currency. It is important to note that virtual dollar cards can be very useful for those who frequently travel abroad or make online purchases from foreign websites. However, it is important to be aware of any fees or charges that may apply when using a virtual dollar card. To sum up, virtual dollar cards are a great option for those looking for a convenient and secure way to make transactions in foreign currency. With the right bank and the necessary documents, getting a virtual dollar card in Nigeria can be a breeze.