Consumers may use debit cards to conduct secure and convenient transactions using funds from their checking accounts. Debit cards are typically provided when you open an account with a bank, credit union, or financial institution, but in other cases, you may need to request one yourself.
Debit cards are a terrific method to monitor your personal spending, carry less cash, and avoid carrying credit card debt. They are widely recognized as a payment option in stores and on the internet, and with debit cards, you are never far from an ATM where you can withdraw cash with your debit card.
If you need to get a new debit card, you can use some of the steps shared in this article.
What are Debit cards?
Debit cards function similarly to credit cards, except that they are linked to your checking account instead of a line of credit. Every time you make a transaction, money is removed automatically.
A normal debit card does not require a credit check, and because it requires a PIN to use, your transactions are generally safe. Debit cards also make it easier to manage your account because you can track activities online.
Debit card withdrawals are immediate. Debit card transactions are promptly withdrawn from your account, thus your spending is restricted by the balance in your account.
Before you create a bank account and obtain a debit card, think about the monthly service costs that may apply to your checking account.
What do I need to request for a debit card in Nigeria?
You can receive a debit card once you open a checking account. You will need a few papers to create a checking account, whether online or in person. Different regulations may apply to banks and other financial entities.
Check with your banking institution to see what documentation you’ll need. This might be correct:
- Driver’s license or government-issued picture ID
- Individual Taxpayer Identification Number or Social Security Card
- Certificate of Birth
- Proof of Place: It must include your name and the address where you live.
- Lease agreement
- Mortgage documentation
- The utility bill
- Statement from a bank or a credit card
How much does a debit card cost?
The amount of money required to start a checking account varies depending on the financial institution and the kind of checking account. Some bank accounts need no money to start, and these accounts are called zero accounts.
Whilst others require a minimum deposit of about 1000 to 5000 naira. Other accounts may demand a minimum balance at all times in order to avoid fees or receive benefits.
How do I request a debit card in Nigeria?
For people wishing to acquire a debit card and utilize it for regular purchases, the typical choice is a savings or current account. Debit cards and connected checking accounts are available from brick-and-mortar and online-only banks, as well as credit unions.
The first thing to do is to select the appropriate type of account(current, savings, student, etc.) for you.
When you create a bank account in Nigeria, you are usually given a debit card. If one is not automatically supplied, you may be able to obtain one by following the procedures below:
- Through customer service. You can call your bank’s customer care department to obtain a debit card. It might take days for you to get it but you will eventually get the card.
- You can request online: You can request a debit card online from your bank provider’s website. You may be able to obtain a debit card using the website or mobile app associated with your bank account. If you apply online, you may have to wait for some business days before receiving your new debit card.
- Physical office: You can request your debit card at any of your bank’s branch locations. Many financial institutions will generate a customised debit card for you on-site, but others may issue you a temporary debit card and then ship you a personalized version within a few days.
You can activate your new debit card by using the number on the back of the card and applying the guidelines shared with you at the bank to activate it. If you have access to this function, you may be able to confirm receipt of your debit card.