With the recent suspension of Flutterwave’s Virtual Barter dollar card, many online vendors/business owners have wondered what alternatives to switch to.
Online vendors had switched to the virtual card to pay for their Facebook/Instagram ads, Netflix subscriptions, payment solutions on Google, Amazon and even Spotify when the Nigerian banks had limited the rates to $20 monthly at the directives of the Central Bank of Nigeria (CBN).
What then is a Virtual card?
The virtual card is an alternative to the normal debit or credit cards and can perform all the same functions except that it is virtual as the name implies.
Recently, some users have opted for this from their banks in paying rather than the normal physical cards.
The cards are available in local currency as well as foreign currency especially in dollars and could be a Mastercard or Visa card.
Below are alternatives you can consider for your use instead of the recently suspended Barter virtual dollar account:
1. Chipper Virtual Card
Chipper Cash is a mobile-based platform that enables its users to send and receive money for free and at extremely cheap exchange rates within its supported countries, including UK.
The Virtual Card can be used for online purchases anywhere Visa cards are accepted and works the same way as your local bank card works online.
2. ALAT Virtual Dollar Card (no longer available except you get a Dollar Card)
ALAT is a digital-only brand operated by Wema Bank, a commercial bank active in all of Nigeria.
It offers a complete banking package, with bank account, physical debit card, savings, loans, and, yes, one of the best virtual dollar cards in Nigeria.
The card allows you to load your card straight from your naira balance for up to $20,000 and change the dollars back into naira if you need to. However, you can’t use it on money transfer websites, and it is not compatible with 3D Secure.
3. Wallets Africa Virtual Dollar Card
Wallets Africa is a Nigerian startup that offers a digital wallet with both virtual and physical naira and dollar Visa cards issued by UBA, which means you are not restricted to online transactions in dollars, which makes it great for traveling!
This does come with a price, as your card comes with a monthly $1 fee, a $0.75 fee on every foreign transaction, and a 2% fee to load it from an external account.
4. Fundall Virtual Dollar Card
Fundall is a Nigerian digital bank providing a wide array of financial services to private and business customers, from a bank account and budget planning to saving pots and loans.
They’ve recently launched a virtual dollar card to spend money online without barriers, offering the first card for free, with a minimum load of $5.
5. Mintyn Virtual Dollar Card
Mintyn is a Nigerian digital bank offering many different banking services, including private bank accounts, corporate accounts, savings, and even services like instant loans and mutual funds.
They also have an unlimited virtual dollar card for Tier 3 account holders that can immediately be activated.
6. Bitsika Virtual Visa Dollar Card
Bitsika is an app available in Nigeria and several French-speaking African countries that allows you to send and receive money in naira as well as in cedis, CFA francs, and several cryptocurrencies, including bitcoin.
You can then spend it through a virtual Visa debit card, though it comes with a hefty 8% fee.
7. Eversend Virtual Dollar Card
Eversend is an Uganda-based startup that offers a multi-currency account in several African countries, including Nigeria.
You can charge your account with a payment card, and then open a virtual dollar debit card which will allow you to make payments everywhere online. The card costs $1 to create, with a $1 monthly fee, as well as a 2% currency conversion fee when you charge it.