₦airaland Forum

tabaralph:
Those are online banks without any tangible insurance with CBN AND NDIC that means if those online banks fold up or liquidate with your money you are on your own OYO LOWA, the above named banks by the CBN has billions of naira as deposit with NDIC in case of bankruptcy you will still get some portion of your trapped money but on the other hand online banks are not insured , Palmpay, o pay , Paga, Kuda, monie point are efficient though but don’t put all your money there o, to avoid story that touches.

tabaralph:
Those are online banks without any tangible insurance with CBN AND NDIC that means if those online banks fold up or liquidate with your money you are on your own OYO LOWA, the above named banks by the CBN has billions of naira as deposit with NDIC in case of bankruptcy you will still get some portion of your trapped money but on the other hand online banks are not insured , Palmpay, o pay , Paga, Kuda, monie point are efficient though but don’t put all your money there o, to avoid story that touches.

Idaytesj29:
Opay is not a bank

18wheeler:
MFBs are not really classified as DMBs. They are usually supposed to maintain accounts with DMBs who serve as link between them and CBN. That is why an OPay and the others cannot go to CBN and ask to withdraw cash to pay their customers. They must do that via the DMB they maintain account with if at all the neeed arises. I think their customers really need to understand the conditions of their operations and the terms of their licenses to understand better.

carterguccy:
No Opay

elbulk:
Thye are not categorized as banks

caracas:
Access bank is not small ooo
It’s the biggest bank in Nigeria….

Skyfornia:
Access....small but mighty!

Even Fidelity bank has more power than Eco bank? Unbelievable

paymentvoucher:
Why didn't CBN list them as bank that have DMB license? That's my question

tabaralph:
Those are online banks without any tangible insurance with CBN AND NDIC that means if those online banks fold up or liquidate with your money you are on your own OYO LOWA, the above named banks by the CBN has billions of naira as deposit with NDIC in case of bankruptcy you will still get some portion of your trapped money but on the other hand online banks are not insured , Palmpay, o pay , Paga, Kuda, monie point are efficient though but don’t put all your money there o, to avoid story that touches.

Doyin2:
Rubbish!

Which of the listed banks is not digital?

Opay,monipoint,etc were registered as either micro finance banks,Fintech or payment platforms and never as deposit money banks.

Your deposit with Opay is not insured by NDIC and it is absolutely at your own risk.

crestedmazi:
this list is as useless as the banks listed on them , even the cbn governor and his family members use digital banks like opay and the rest,

Originality007:
palmpay, moniepoint and kuda nko?

darelar5:
What off opay

SYSTEM222:
They are fighting Digital banks so hard.

No Opay
No Kuda
No Moniepoint
No Palmpay


Lols

paymentvoucher:
Make I go empty my money inside OPAY and PALMPAY. I no wan hear story at all.

Things just dey happen anyhow in this country...

puremaker7:
The list is not completed without Opay and palmpay

carterguccy:
No Opay

DaddyCoool:
Opay is the MOST RELIABLE in transmitting money wirelessly yet it is not listed

mariovito:
Where my opay?

Calyb:
No moniepoint?

Image123:
Wey Opay?

DaddyCoool:
Below screenshot says u lying


Can u educate more?

Electorate:
Na idiot you be if you can't sense that I was only being sarcastic





















Too many Ignorant people on nairaland sha...The list is about "DEPOSIT MONEY BANKS" not "MICROFINANCE BANKS" which the likes of Opay, Palmpay, Kuda e.t.c fall under.

No wonder our leaders dey use una head play table tennis because nothing dey there again.

lekonso:
That is not true. Access bank is not bigger than First bank, GTB, Zenith and UBA

Doyin2:
Rubbish!

Which of the listed banks is not digital?

Opay,monipoint,etc were registered as either micro finance banks,Fintech or payment platforms and never as deposit money banks.

Your deposit with Opay is not insured by NDIC and it is absolutely at your own risk.

DaddyCoool:
Below screenshot says u lying


Can u educate more?

Offpoint1:
They don't have that license, that's why all charges applicable to other commercial banks when you make transactions, isn't applicable to them.

Precisely, they should remain like that because once they become DMB the demonic network issues begins.

TheOgaBoss:
they are microfinance banks, stop spreading misinformation.

18wheeler:
It’s a bank very well. It’s licensed as a Micro Finance Bank, and not a commercial bank. Micro Finance Banks offer almost every banking service that commercial banks do, they issue cards, internet and mobile banking, receive deposits from their clients and so on. But let’s say you want to raise a letter of credit to make payment for an import, Opay cannot issue you that unless they pass through a commercial bank. Another one is something like a bank Guarantee. An Opay or similar bank cannot issue that to its customers independent of the commercial bank it maintains account with. But they offer transactional services like any other. The major difference between them and the traditional MFBs we know is that they are majorly digital while the trad ones are mainly brick & mortar like we have in the rural areas.

DaddyCoool:
Thanks. Real education

Electorate:
You already identified yourself as a very daft person.

Nemere2020:
https://tribuneonlineng.com/full-list-see-deposit-money-banks-dmbs-in-nigeria/