If you are looking for a convenient and secure way to pay online in dollars, you might want to consider getting an Alat virtual dollar card.
Alat is Nigeria’s first fully digital bank, and it offers a virtual dollar card service that allows you to create and fund a non-physical dollar-denominated card on your phone via the Alat app.
In this article, we will review the features, benefits, fees, security, and use cases of the Alat virtual dollar card, and how you can get one in Nigeria.
What is an Alat Virtual Dollar Card?
An Alat virtual dollar card is an online payment solution that lets you create and use a digital card in dollars on your phone. You don’t need a physical card or a bank account to use it. You just need an Alat account, which is a fully digital bank account powered by Wema Bank, Nigeria’s most resilient bank. You can fund your virtual dollar card with naira from your Alat account at the prevailing bank rate, and you can also convert the dollars back to naira and delete the card whenever you want.
How to Get an Alat Virtual Dollar Card
To get an Alat dollar card, you need to have an Alat account. If you don’t have one, you can download the Alat app from the Google Play Store or Apple App Store and sign up with your BVN and phone number.
You will also need to verify your identity by uploading a valid ID card and a selfie.
Once your account is verified, you can create your virtual dollar card by following these steps:
- Log in to your Alat app and tap on “Cards” on the menu.
- Tap on “Create New Card” and select “Virtual Dollar Card”.
- Enter the amount of dollars you want to fund your card with and confirm the exchange rate.
- Enter your ALAT PIN or use biometric authentication to authorize the transaction.
- Your virtual dollar card will be created and displayed on the app with the card number, expiry date, and CVV.
- You can view your card details anytime by tapping on “View Card” on the app.
How to Use Alat Virtual Dollar Card
You can use your Alat virtual dollar card to pay for goods and services on any website or app that accepts Mastercard or Visa dollar cards.
For example, you can use it to pay for Facebook Ads, Google Ads, Apple Subscription, Netflix, Spotify, Amazon, AliExpress, etc.
To use your card, simply enter the card details (card number, expiry date, and CVV) on the payment page of the website or app.
You will also need to enter the billing address that you used when creating your Alat account.
Benefits of Alat Virtual Dollar Card
There are many benefits of using an Alat virtual dollar card for online payments in dollars. Some of them are:
- Convenience: You don’t need to have a physical dollar card or a domiciliary account to pay online in dollars. You can create and fund your virtual dollar card anytime and anywhere on your phone via the Alat app.
- Security: You don’t have to expose your bank account or personal information when using your virtual dollar card. Your card is protected by a PIN or biometric authentication, and you can delete it after use if you want.
- Flexibility: You can create multiple virtual dollar cards for different purposes and manage them on the app. You can also adjust the spending limit and expiry date of each card according to your needs.
- Savings: You don’t have to pay any monthly or annual fees for using your virtual dollar card. You also get a favourable exchange rate when converting naira to dollars on the app.
Fees for Alat Virtual Dollar Card
The fees for using an Alat virtual dollar card are minimal and transparent. According to the Alat website, these are the fees that apply:
- Card creation fee: $1.5 (one-time fee)
- Funding fee: 2% + N100 (per transaction)
- Transaction fee: 0% (no fee)
- Liquidation fee: 2% + N100 (per transaction)
Security of Alat Virtual Dollar Card
The security of your Alat virtual dollar card is guaranteed by several measures taken by Alat. Some of them are:
- Encryption: All your data and transactions are encrypted using SSL technology to prevent unauthorized access or interception.
- Authentication: You need to enter your ALAT PIN or use biometric authentication to create, fund, or delete your virtual dollar card.
- Notification: You will receive an SMS or email notification for every transaction made with your virtual dollar card.
- Control: You can view your transaction history, balance, and card details on the app. You can also block or delete your card anytime if you suspect any fraud or misuse.
Alat Virtual Dollar Card Review
Based on the features, benefits, fees, and security of the Alat virtual dollar card, we can conclude that it is a reliable and convenient option for online payments in dollars.
It is especially useful for Nigerians who want to access global platforms and services that require dollar payments, such as digital marketing, e-commerce, entertainment, education, etc.
It is also easy to get and use, and it offers a favourable exchange rate and low fees.
How to Get an Alat Virtual Dollar Card in Nigeria
As we have seen, getting an Alat virtual dollar card in Nigeria is simple and straightforward. All you need is an Alat account, a smartphone, and some naira in your account.
You can create and fund your virtual dollar card on the Alat app within minutes and start using it for online payments in dollars.
You can also liquidate your card back to naira and delete it after use if you want.
Best Use Cases for Alat Virtual Dollar Card
There are many use cases for an Alat virtual dollar card, depending on your needs and preferences. Some of the best use cases are:
- Digital marketing: You can use your virtual dollar card to pay for Facebook Ads, Google Ads, Instagram Ads, Twitter Ads, etc. to promote your business or brand online.
- E-commerce: You can use your virtual dollar card to shop online from international websites like Amazon, AliExpress, eBay, etc. and get your products delivered to Nigeria.
- Entertainment: You can use your virtual dollar card to subscribe to streaming services like Netflix, Spotify, Apple Music, etc. and enjoy unlimited movies, music, podcasts, etc.
- Education: You can use your virtual dollar card to enroll in online courses or programs from reputable institutions like Udemy, Coursera, edX, etc. and learn new skills or earn certificates.
- Travel: You can use your virtual dollar card to book flights, hotels, car rentals, etc. from travel websites like Expedia, Booking.com, Airbnb, etc. and plan your trips abroad.
How to Avoid Alat Virtual Dollar Card Fees
While the fees for using an Alat virtual dollar card are low compared to other options, you might still want to avoid them if possible. Here are some tips on how to do that:
- Create one card for multiple purposes: Instead of creating multiple cards for different purposes, you can create one card and use it for various payments. This way, you will only pay the card creation fee once.
- Fund your card with large amounts: Instead of funding your card with small amounts frequently, you can fund your card with large amounts occasionally. This way, you will reduce the number of funding transactions and fees.
- Use your card regularly: Instead of liquidating your card back to naira after each use, you can keep some dollars in your card and use them for future payments. This way, you will avoid the liquidation fee and also save on exchange rate fluctuations.
Is Alat Virtual Dollar Card Safe?
Yes, Alat virtual dollar card is safe to use for online payments in dollars. Alat is a licensed digital bank by the Central Bank of Nigeria (CBN) and operates under the supervision of Wema Bank Plc.
Alat also uses advanced encryption and authentication technologies to protect your data and transactions. You also have full control over your card and can block or delete it anytime if you want.
I hope this article has given you a comprehensive review of the Alat virtual dollar card and how you can get one in Nigeria. If you have any questions or feedback, please feel free to leave a comment below. Thank you for reading!