Most Nigerian Naira cards and dollar cards do not work for international payments, making it challenging for many Nigerians to conduct transactions abroad. Fortunately, several fintech companies now offer USD virtual cards that allow Nigerians to make international payments easily and securely. In this article, we will explore some of the top providers of USD virtual cards in Nigeria, focusing on their rates, ease of registration, and KYC requirements. Whether you need to make online purchases, subscribe to international services, or pay for other global transactions, these virtual card providers offer reliable solutions tailored to your needs.
Chipper Cash
Ease of Registration:
Registering on Chipper Cash requires users to install the mobile app. New users can create an account using their Gmail or phone number. I tried using my Gmail, but it didn't work, so I used my phone number instead. It took me two attempts to verify my phone number. New users are then asked to provide their full name, date of birth, the country they are sending funds from, country of birth, primary citizenship, and gender. I was also asked for my residential address, postal code, state, city, and country. Lastly, I created a Chipper Cash tag, which can be used to send and receive money. The registration process took me about 7 minutes.
KYC Requirements:
I used my phone number during registration, so I was asked to verify it. After verifying my phone number, users are required to provide their BVN (Bank Verification Number). Verifying my BVN took 15 minutes. New users must then verify their identity by taking a snapshot of their face and providing one of the following documents: passport, national ID card, or driver's license. I used my national ID for identity verification, and it took 6 minutes to get verified.
Rates:
The USD virtual card for Chipper Cash costs $3. Chipper Cash allows users to receive money in either Naira or USD. As of August 4, 2024, the exchange rate on Chipper Cash is $1 = ₦1,560.6989. It is also worth mentioning that Chipper Cash allows users to own a USD account.
PST
Ease of Registration:
Registering on PST is seamless. All you need to do is visit app.pst.net. You can create an account using your Gmail, Apple ID, Telegram account, or WhatsApp account. The registration process took me less than 2 minutes.
KYC Requirements:
PST has tiers with different requirements:
Welcome Tier: Allows users to deposit up to $500 and create one card. Requires users to provide their full name and citizenship. Verification was instant.
Scale Tier: Allows users to deposit up to $2,000 and create up to 5 cards. Requires users to pass the Welcome Tier and provide a passport or ID card number.
Unlimited Tier: Allows users to deposit unlimited amounts and create up to 1,000 cards. Requires users to pass the Scale Tier and provide a selfie with documents.
Rates:
PST charges $10 to $199 monthly for card maintenance and a top-up fee of 2% to 8%, depending on the number of cards and the tier. Users can deposit using cryptocurrency, with rates dependent on the p2p market. As of August 4, 2024, using Gate.io, the p2p exchange rate is $1 = ₦1,597.80.
Palremit
Ease of Registration:
Registering on Palremit is easy. Download the app and create an account using your email. New users must provide their full name, gender, and phone number.
KYC Requirements:
Palremit requires new users to take a selfie for security. Users must also provide their BVN. Verifying my BVN took 2 minutes.
Rates:
The USD virtual card for Palremit costs $2. Users pay a card funding fee of 2% and a monthly maintenance fee of $1. As of August 4, 2024, the exchange rate for Palremit is $1 = ₦1,629.82.
Redotpay Review
Ease of Registration:
Registering on Redotpay requires users to install the mobile app. You can create an account using your Gmail or Apple ID. New users receive a $5 welcome bonus and can also get physical cards.
KYC Requirements:
Users must provide their phone number during verification. After verifying, users provide their full name, date of birth, and the number from a passport, ID card, or driver's license. New users must also take a snapshot of their face and one of the following documents: passport, national ID card, or driver's license. Verification took less than 4 minutes.
Rates:
Redotpay offers virtual cards for $10 and physical cards for $100. There are no top-up or maintenance fees. Users can deposit using cryptocurrency, with rates dependent on the p2p market. As of August 4, 2024, using Gate.io, the p2p exchange rate is $1 = ₦1,597.80.
Eversend Review
Ease of Registration:
Users can register on Eversend using their email. During registration, users must provide their country, phone number, full name, and date of birth. The process took less than 2 minutes.
KYC Requirements:
Eversend requires users to provide their postcode, address, and city. Users must verify their identity by recording a short video of their face and taking a snapshot of one of the following documents: driver's license, international passport, digital NIN slip, NIN ID card, or voter’s card. Verification took 4 minutes.
Rates:
The virtual card for Eversend is free but requires a maintenance fee of $1 per month or a one-time payment of $3. Eversend charges an international transaction fee of 3.5% + $0.5. Users can deposit into their account by creating a virtual bank account with Globus or Wema Bank. As of August 4, 2024, the exchange rate for Eversend is $1 = ₦1,692.8.
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