The cost of dollar on Chipper Cash & Payday is N849 & N760 respectively.
In recent years, the rise of digital banking has been a game-changer in the financial industry. With the convenience of mobile banking, consumers can now access their accounts and manage their finances on the go. Payday and Chipper Cash are two digital banks that have gained popularity in Nigeria. In this blog post, we will compare these two digital banks and highlight the significant difference in the cost of purchasing dollars.
First, let’s take a look at Payday. Payday is a digital bank that allows customers to open an account in just a few minutes. With Payday, users can make transfers, pay bills, and purchase foreign currencies, among other services. One of the standout features of Payday is their low cost of purchasing foreign currencies. At the time of writing, the cost of a dollar on Payday is N760.
On the other hand, Chipper Cash is another digital bank that has become popular in Nigeria. With Chipper Cash, users can also open an account in just a few minutes and access a range of services, including transfers and bill payments. However, one area where Chipper Cash falls short compared to Payday is the cost of purchasing foreign currencies. At the time of writing, the cost of a dollar on Chipper Cash is N849. This is significantly higher than the cost on Payday.
The cost of purchasing foreign currencies is an important factor to consider for those who frequently make international transactions or travel abroad. With Payday’s lower cost, users can save a significant amount of money when purchasing foreign currencies. In addition, the convenience of being able to access this service through a digital bank is a major advantage.
In terms of other features and services, Payday and Chipper Cash are mostly similar. Both offer easy account opening, mobile banking, and a range of services to manage finances. However, for those who prioritize the cost of purchasing foreign currencies, Payday is the clear winner.