Online Banks With Free Physical ATM

             In recent years, online banking has become increasingly popular in Nigeria due to its convenience and flexibility. One of the advantages of online banking is the availability of free physical ATMs. These ATMs allow customers to withdraw cash without incurring any charges. In this article, we will explore the benefits of using online banks with free physical ATMs in Nigeria and provide a comprehensive list of the best online banks with free physical ATMs in the country.

What is Online Banking ?

Online banking is a type of banking service that allows customers to perform various financial transactions over the internet without visiting a physical bank branch. With online banking, customers can perform a wide range of transactions, including bill payments, transfers, and account management.

Physical ATMs

Physical ATMs, on the other hand, are automated machines that allow customers to withdraw cash, check their account balance, and perform other banking transactions without the need for a bank teller.

Benefits of Using Online Banks with Free Physical ATMs in Nigeria

There are several benefits to using online banks with free physical ATMs in Nigeria, including:

• Convenience:

 With online banking, customers can perform financial transactions from the comfort of their own home or office. The availability of free physical ATMs also means that customers can withdraw cash without incurring any charges.

• Accessibility: 

Online banks with free physical ATMs are available 24/7, which means customers can access their funds at any time of the day or night.

• Cost-effective: 

Online banks with free physical ATMs do not charge customers for ATM withdrawals, which can help customers save money on banking fees.

• Flexibility: 

Online banks with free physical ATMs offer a wide range of services, including online bill payments, transfers, and account management, which provides customers with greater flexibility and control over their finances.

List of Online Banks with Free Physical ATMs in Nigeria

• Kuda Bank

Kuda Bank is a digital-only bank that offers customers a range of banking services, including savings and current accounts, loans, and free ATM withdrawals. With Kuda Bank, customers can withdraw cash for free up to three times per month. Kuda Bank also does not charge customers for account maintenance fees, transfers, or debit card issuance.

• Alat by Wema Bank

Alat by Wema Bank is a digital bank that provides customers with a range of banking services, including savings and current accounts, loans, and bill payments. With Alat by Wema Bank, customers have access to over 10,000 ATMs nationwide, and the bank does not charge customers for ATM withdrawals. Alat by Wema Bank also does not charge customers for account maintenance fees, transfers, or debit card issuance.

• Rubies Bank:

Rubies Bank is a digital bank in Nigeria that offers free ATM withdrawals up to three times a month. The bank is known for its unique approach to banking, with a focus on customer satisfaction and experience. Rubies Bank offers various services and features that make banking convenient and hassle-free.

One of the features of Rubies Bank is the ability to open an account instantly with just a few clicks on their mobile app. This feature eliminates the need for long queues and paperwork that are common in traditional banks. Rubies Bank also offers free transfers, bill payments, and other services that make banking easy.

In terms of security, Rubies Bank uses advanced security measures to protect their customers’ data and funds. The bank also offers 24/7 customer support to attend to customers’ inquiries and issues.

• V Bank:

V Bank is a digital bank in Nigeria that offers a wide range of financial services. The bank is known for its excellent customer service, innovative products, and competitive rates. V Bank offers no monthly fees and access to over 13,000 ATMs nationwide.

One of the unique features of V Bank is the ability to save with ease through their automated savings feature. Customers can set savings goals and have money automatically deducted from their accounts to achieve their goals. V Bank also offers instant loans, bill payments, and other services that make banking convenient.

In terms of security, V Bank uses the latest security measures to protect customers’ data and funds. The bank also offers 24/7 customer support to attend to customers’ inquiries and issues.

• Eyowo:

Eyowo is a digital bank in Nigeria that offers no monthly fees and access to over 3,000 ATMs nationwide. The bank is known for its focus on financial inclusion and its mission to provide banking services to all Nigerians, regardless of their social status.

Eyowo offers various services, including bill payments, airtime recharge, and fund transfers. The bank also offers a unique feature that allows customers to withdraw cash from any ATM without a card. This feature is known as the Eyowo Virtual ATM Card and is available to all Eyowo customers.

In terms of security, Eyowo uses advanced security measures to protect customers’ data and funds. The bank also offers 24/7 customer support to attend to customers’ inquiries and issues.

Choosing the Right Online Bank with Free Physical ATMs in Nigeria:

When choosing an online bank with free physical ATMs in Nigeria, it is essential to consider factors such as the bank’s fees, features, and security measures. It is also important to consider your personal financial goals and needs.

• To compare bank features and benefits, consider factors such as interest rates, ATM network, mobile app user-friendliness, and customer support. You should also consider the bank’s reputation and track record in the Nigerian banking industry.
• Personal financial goals and needs are also important when choosing an online bank. If you need access to loans, you should choose a bank that offers instant loans with favorable interest rates. If you need to save, you should choose a bank that offers automated savings features.

Online banks with free physical ATMs in Nigeria offer a convenient and hassle-free way of banking. Kuda Bank, Alat by Wema Bank, Rubies Bank, V Bank, and Eyowo are some of the digital banks in Nigeria that offer free ATM withdrawals and other services.

When choosing an online bank, it is important to consider factors such as fees, features, security measures, and personal financial goals and needs. By choosing the right online bank, you can enjoy the benefits of banking without the hassle of traditional banks.

Frequently Answered questions on Free ATMs

• What is an online bank?

An online bank is a financial institution that operates primarily through the internet or mobile applications, allowing customers to perform transactions, pay bills, and manage their accounts online.

• Can I deposit cash into an online bank with a physical ATM?

Yes, most online banks in Nigeria with physical ATMs allow customers to deposit cash into their accounts using the ATMs.

• Are there any fees associated with using online banks with free physical ATMs in Nigeria?

While most online banks in Nigeria offer free physical ATM withdrawals, some may have fees for certain transactions or account activities. It is important to review the fee schedule for each online bank before opening an account.

• How do I find an ATM for my online bank in Nigeria?

Most online banks in Nigeria will have a list of their partnered ATMs available on their website or mobile app. Additionally, some online banks may have their own ATMs or partner with other banks to offer surcharge-free ATM access.

• Can I withdraw money from any ATM using my online bank card?

Most online banks in Nigeria will have a network of partnered ATMs that customers can use without incurring additional fees. However, using an out-of-network ATM may result in additional fees. It is important to review the fee schedule for each online bank before opening an account.