Verve
Naira MasterCard
Visa Debit
Platinum MasterCard
Process time
15 minutes
15 minutes
2 working days
2 working days
Is secured by Chip & PIN technology
Yes
Yes
Yes
Yes
Can be used for payments on local websites and POS
Yes
Yes
Yes
Yes
Can be used for payments on international websites and POS
No
Yes
Yes
Yes
Requires PIN for all ATM and POS transactions
Yes
Yes
Yes
Yes
Requires a CVV2 Code for all internet transactions
Yes
Yes
Yes
Yes
Requires One-Time-Password for local website purchases
Yes
Yes
No
Yes
FEES
Getting a new card
₦1000
₦1000
₦1000
₦5000
Replacing a lost or stolen card
₦1000
₦1000
₦1000
₦5000
PIN re-issue
Free
Free
Free
Free
Annual maintenance
₦100
₦100
₦100
Free
FirstBank ATMs in Nigeria
Free
Free
Free
Free
Other ATMs in Nigeria
3 Free Transactions per month
3 Free Transactions per month
3 Free Transactions per month
3 Free Transactions per month
ATMs abroad
N/A
₦420
$1.50
₦420
POS in Nigeria
Free
Free
Free
Free
POS or websites abroad
Free
Free
Free
Free
DAILY TRANSACTION LIMITS
ATMs in Nigeria
₦100k
₦150k
₦100k
₦300k
ATMs Abroad
N/A
$300
$1000
$300
POS In Nigeria
₦2.5m
₦2.5m
₦2.5m
₦3m
POS abroad
N/A
$1000
$2500
$1000
Web in Nigeria
₦1m
₦1m
₦1m
₦2m
Web Abroad
N/A
$1,000
$6250
$1000
