The digital V bank cooperates with the microfinance bank VFD. VFD is a financial services institution based in Lagos, operating in the banking microfinance sector.
The company’s V priority seems to be to attract a much younger banking audience. Recently, the number of digital banking products has increased.
This can be attributed to many reasons. People have never liked the idea of going to physical banks to conduct money transactions. So it was better to have a mobile app that does it all.
The app is designed to bridge the gap that has existed so far between traditional established banks and their customers. This means that there are no barriers between the bank and its customers and potential customers.
Unlike other applications with hidden and unwanted charges, V Bank mobile app is free because customers don’t pay if they transfer money to another VFD customer or another bank.
It takes a little less than 5 minutes to register on the V Bank platform. Quite fast, compared to parent banks.
Download Links for V Bank Mobile App
- Android users: https://play.google.com/store/apps/details?id=com.vfd.app&hl=en
- For iOS users (iPhone): https://apps.apple.com/ng/app/v-by-vfd/id1462870303
Requirements for Registering on V Bank Mobile app
To register in the mobile app, you need the following information:
- Telephone number
- Date of Birth
- BVN number or any account number in another bank
- E-mail address
- photo (confirmed)
- Signature (for verification)
- four-digit pin
Features of V Bank Digital Mobile Banking App
- Send, Receive, Withdraw Money.
You can also make transfers via the V mobile app, transfer to your account, or transfer to third parties. You can even withdraw money from ATMs across the country. A feature is available in the application that allows you to generate cashless withdrawal codes from activated ATMs.
- Establish Budgets
In the V Bank Nigeria app, you can create and save budgets every month. The budget is cut through various spending channels, such as food, work, family, shopping, lifestyle, utilities, transportation, and more. This can help you stay in control when you spend money on your account.
The application shows you an analysis of the entry and exit of the account. This can be done for any period that you define or want to analyze. Having these analyzes helps you determine how much you are spending relative to your income. It, therefore, allows users to position themselves correctly according to the data.
- Pay the Bills
From your mobile app, you can pay for utilities, cable TV, Internet services, travel and tickets, transportation and tolls, schools, games of chance and games, other products, and random services.
They work with specific traders to facilitate the payment of their products. Examples of such bills are the United Cement Company of Nigeria, DHL, Lafarge Africa, and more. Time and data purchases can also be made from the app.
Recently, as a customer buying strategy, he used the allocation of cash prizes, too (potential) customers. In this way, users can jump into the earnings trend in the app. Most of these gifts require you to download and register on the V Bank Nigeria mobile app.
- Share V transactions on WhatsApp
With V, you can split application transactions on WhatsApp. This is more useful when you need to show confirmation of your deal to someone from your contact. You can also add notes, add your image, add your location, and get transaction confirmations.
V Bank Nigeria wants to compete with companies like Kudabank and Rubies Bank, which offer almost the same products and services. Currently, what end users would need would be the value of these products.
What does V Bank Mobile App Offer
V Bank was launched as the first entirely virtual bank in Nigeria to bridge the gap that has existed so far between established traditional banks and their customers. This means that there are no barriers between the bank and its customers and potential customers.
Unlike other apps with hidden or unwanted costs, V is free because customers don’t charge if they transfer money to another V customer or another bank.
Available for download from the Google App Store and Google Play Store, the app allows users to control costs and revenues, organize budgets, and set spending limits. V is available for download by searching for “V by VFD” on the App Store and Google Play.