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Many of us want to be financially free, but we don’t know how to make it work. You are going to love this article because you will learn how you can pay for bills and other necessities you need in Nigeria with the help of mobile banking.
Why Should You Use Mobile Banking For Payments?
One of the greatest advantages of mobile banking in Nigeria is the ability to pay for things online instantly. You can directly transfer money to any Nigerian company or individual with a bank account, and they will receive it a few minutes after you send it.
Another reason to use mobile banking for payments is security. For example, joinfibo.com has one of the most secure systems to protect your money and transactions. Furthermore, some Nigerian banks do not charge transaction fees for paying through mobile banking, hence you can make free transfers between accounts!
Mobile banking offers many advantages over cash payments. To name some: It’s safe, secure, accessible 24/7, incurs very low fees (or none at all), great exchange rates, and they provide additional services like loans or pensions that are perfect if you need them.
How To Avoid Commissions And Use All Advantages Of Mobile Banking
The most obvious advantage of mobile banking is the ability to pay for things, such as utility bills, loan payments, and even school fees, without having to pay any commission fee. Another benefit you can get from making payments with mobile banking is getting cashback, which will help you be more solvent.
Control Your Spending
Another great benefit of mobile banking is keeping track of your expenses. If you are one of those people who has a hard time managing their spending, monetary transactions made with mobile banking will help you know how much money is available in your bank account and when it will run out.
Using An NFC
If you do not want to go through the hassle of using a computer each time you make a payment, apps for smartphones allow you to pay for things by using NFC (Near Field Communication) technology. This means that all you have to do is tap your phone on a POS terminal, and it will pay the bill without needing a password or anything else!
Using mobile banking is also a great way to reduce the risk of having high commissions when sending money overseas, paying bills, or other necessities. The reason is that most banks offer commission-free transactions and international transfers to different countries.
This way, you can save money on transfers and make a more informed decision regarding the best bank transfer options. Reducing commissions and other transaction fees will give you more opportunities to pay for all you need easily.
Accessing Your Funds 24/7
With mobile banking in Nigeria, you have access to your money 24/7. This means that you can withdraw cash from any ATM whenever you want or transfer funds to anybody else from any place!
Mobile banking systems are available on various platforms, including web browsers and dedicated apps for PCs, tablets, and smartphones (iOS and Android supported). This is extremely useful for business purposes since it can be done easily from anywhere at any time of the day.
Great Exchange Rates
Another way to pay easily is using good exchange rates. Mobile banking in Nigeria offers great exchange rates tailored to the market’s needs. Most banks that offer their banking services do so with a free currency conversion service that allows you to pay for things from anywhere in the world using your local currency.
The most important currencies are USD, GBP, EUR, and RMB. If you want to transfer some of your money in these currencies (for example, paying for something online), mobile banking will allow you to do it no matter where you live in Nigeria.
Using your bank account to pay for things is another good way to save money in Nigeria. You can earn cashback when making payments to companies you use or that offer cashbacks like Fibo. The best examples are making purchases online, paying bills, studying, etc.
The Bottom Line
Mobile banking in Nigeria allows Nigerians to pay bills and transfer funds while on the move, at any time of day or night! It’s a convenient way to make payments, and at many banks, these services come with zero fees or transaction charges.
To sum it up, mobile banking in Nigeria is a great way to make online payments from anywhere and manage your money at the same time. In addition, most Nigerian banks offer additional services such as loans for business owners, insurance, or other services that could be convenient if you need them.