Verve, Visa or Mastercard: Which should I get?


Home | Cards | ( 1 ) | Subscribe

Posted by on Saturday January 31, 2015 at 9:33:21:

Card products are now readily available at Nigerian banks almost as soon as a person opens an account wit them. Some cards can even be issued instantly to non-account holders and they are referred to as non personalized cards.

Most of the card products being issued by Nigerian banks can be used at ATMs while some are just designed for be used on the web for making online payments for shopping, services and so on.

Some of these cards are debit cards while others are credit cards. The main difference between a debit and a credit card is that the former is linked to funds brought by the holder while the latter is linked to funds provided by the bank as a form of loan.

A Nigerian who goes to a bank to apply for a card might be a bit be a bit confused as to which one to choose from. Banks normally provide up to 3 options to choose from and this includes Verve, Mastercard or Visa. What is the difference between them all? Which is the best or worst? Which one should I get?

Well, I have to first of all tell you that I have all the 3 and I got them from 3 different banks for several reasons.

Verve card: I got my Verve card because I need a card that I can use to make online payments locally in Nigeria and for interswitch powered websites like Quickteller. My Verve card allows me to pay for things like Prepaid PHCN bills, Buy Virtual Airtime Topup and transfer funds on the Quickteller platform. I use my Verve card because it works well on most Nigerian websites and so it's ok for me when doing local transactions in Nigeria. It also works on ATMs and POS terminals.

Visa card: The second card I use is a Visa card and I got it from my bank for the main purpose of making international online payments. The one I use is a Naira Visa card and it's linked to my Naira savings account which allows me to make payments both locally and internationally. I can pay for things on US websites like Amazon or China based websites like Aliexpress. I can also use my Visa card on ATMs and for making POS payments. It's also now accepted on Interswitch powered websites like Quickteller, Jumia and Konga. However, the main reason I love it is because it's also accepted worldwide anywhere Visa cards are accepted.

Mastercard: The Mastercard I got from my bank is a Naira Mastercard and the reason I also got it was to have another option of making foreign online payments. I didn't just want to limit my debit card to ATM withdrawals and POS payments and this card works well just like the Visa card. It's also accepted locally on interswitch websites like Quickteller, Konga and Jumia. I can use it on Amazon and Aliexpress too. The Naira Mastercard is issued by Nigerian banks and supported by Mastercard international.

In terms of physical features, all the cards carry electronic chips which you should handle with care and avoid putting in your back pocket all the time since sitting on it can reduce it's lifespan. The Mastercard has 5 as it's first digit, a Visa has 4 while I think Verve also starts with 5.

They all come with about 16 digit card numbers, a validity date and a 3 digit CVV code at the back. It may come printed with your name is it's a personalized card that takes about week to produce or it may not bear any name if it's the non personalized one that is issued instantly.

The cost of getting a Verve, Visa or Mastercard from Nigerian banks as at now is about N1000 but I hear that Verve cards tend to cost less, about N700 to get.

There are some benefits of having a Verve card such as the fact that your funds are protected from making foreign payments which Visa or Mastercard may not come with since they are international brands and so it is suitable for those who don't want their funds being used to make international payments outside Nigeria.

However, having a Visa or Mastercard allows you to have access to your bank account almost from anywhere you are in the world and is normally recommended for travellers who might want to make cash withdrawals or payments in foreign countries or foreign websites. For now, one can't use a Verve card outside Nigeria.

It depends on your choice really as there are all good cards that allow you to have access to your money anytime you want without having to go inside the banking hall.

Re: Verve, Visa or Mastercard: Which should I get? Reply by Dayo on Wednesday April 1, 2015 at 7:54:10:

I think in terms of local payments Verve rocks best but for international payments and business travellers, going for a Visa or Mastercard should be preferred.

Re: Verve, Visa or Mastercard: Which should I get? Reply by Eze Blessing on Tuesday April 28, 2015 at 12:41:44:

i dont know how to set my online mobile password.

Re: Verve, Visa or Mastercard: Which should I get? Reply by Samuel on Monday November 2, 2015 at 20:47:24:

So educating.

Re: Verve, Visa or Mastercard: Which should I get? Reply by ezra Mainassara Godwin on Sunday November 15, 2015 at 11:38:41:

Please how can I change my i-pin using my visa card for online payment????

Re: Verve, Visa or Mastercard: Which should I get? Reply by Felix Okoli on Sunday November 15, 2015 at 11:38:41:

Use an ATM and go to Change PIN > i-PIN

Re: Verve, Visa or Mastercard: Which should I get? Reply by Ahmed Sali Belel on Tuesday July 19, 2016 at 18:20:40:

Verve card is more preferable to me cos am not intnl traveler.

Re: Verve, Visa or Mastercard: Which should I get? Reply by Epede Sherrybelle on Wednesday August 10, 2016 at 13:13:29:

since they are All widrawin in naija,i tink visa or master card is d best. u dnt knw 2moro. ur luck may shine and u travel abroad

Re: Verve, Visa or Mastercard: Which should I get? Reply by Angela on Saturday November 26, 2016 at 20:50:58:

MasterCard and visa card rock

Re: Verve, Visa or Mastercard: Which should I get? Reply by Nasir danjuma on Wednesday April 12, 2017 at 18:5:43:

4me I jst have to say visa cos u don't know even maybe 2moro God may jst bless u 2 go 2 abroad and ur not havin d visa card wat will u do

Re: Verve, Visa or Mastercard: Which should I get? Reply by trust on Saturday June 3, 2017 at 7:57:6:

I think they all work perfect but one should get all cos you don't know tomorrow......

Post a Comment

Required fields are Name and Comment.


Email: (Optional)


Recent Posts

Nigerians can now pay Cheques into savings accounts - Saturday September 17, 2016 12:58:19
Nigerian banks are sacking workers - Wednesday September 14, 2016 17:59:41
How I transferred money from GTBank with my mobile phone - Wednesday September 14, 2016 17:42:57
How Nigerian banks can attract and retain customers - Friday September 2, 2016 9:59:27
GTBank Naira MasterCard exchange rate per US dollar - Sunday August 28, 2016 22:57:39
Cash Deposit ATM stole my money - Tuesday August 23, 2016 12:44:30