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What is Chipper Cash? Everything You Should Know

Many Nigerians want to make international transactions and send money on the go. With the recent dollar transaction limit imposed by the CBN — $25 per month — making international transactions has been challenging.

But Nigerians have many options to overcome this limit. In particular, there are many digital payment options available. One of them is Chipper Cash.

Perhaps you’ve been seeing many Chipper Cash ads online and wondering if you should use the service. In this post, you’ll get all the information you need to know about Chipper Cash so you can decide.

What is Chipper Cash?

Chipper Cash provides a simple solution for sending money within and outside Nigeria’s borders. You can make local transfers at no cost and pay minimal charges when you make international transfers.

At the moment, Chipper Cash has more than five million users. And the company processes more than $1.5 billion per quarter. Not to mention, it had over six thousand business investors. With this, it’s clear Chipper Cash is a reliable service.

But the feature attracting most users to Chipper Cash is the dollar card. With Chipper Cash, you can create a dollar card for all your international payments. So far, the service has issued more than three hundred thousand cards.

The most interesting thing is that the card is free. This is unlike most other services that charge you an issuance fee and subsequent monthly charges.

Chipper Cash is only available on mobile. Hence, you must download and install the app on your Android or iPhone device.

What Can You Do With Chipper Cash?

There’s a lot you can do with Chipper Cash. The application works for more than sending money and creating virtual dollar cards. Here’s a list of what you can do:

  • Send and receive money from anyone. You get a free bank account when you sign up with Chipper Cash.
  • Create virtual Naira and dollar cards. Both types of virtual cards are VISA, which is acceptable everywhere.
  • Pay bills. You can pay your electricity and phone bills with Chipper Cash among others. This means you can purchase airtime and data.
  • Invest in stocks. If you plan to become a stock trader, Chipper Cash brings the stock market to your fingertips. You can invest with little amounts — as little as $1 or N500.
  • Earn money. Like most platforms, you can earn money with Chipper Cash when you refer the platform to others.

You’ll agree that with the above, Chipper Cash has a lot to offer.

Which Country Is Chipper Cash From?

The Chipper Cash platform was launched from the United States. San Francisco to be precise. But the platform caters to the African market. As a result, it is most prevalent in African countries.

You can use Chipper Cash if you’re in Nigeria, Ghana, South Africa, and Uganda. Since the platform was founded in the US, the country is supported. Also, you can use Chipper Cash if you’re in the United Kingdom.

How To Create a Chipper Cash Account

Creating a Chipper Cash account is not a complicated procedure. It will only take you a minute or two to complete the process.

Chipper only requires you to provide your phone number or email address to register. Next, you’ll receive a verification code. Once you enter the verification code in the app, your account becomes live. You can start making transactions.

But you’ll only be able to perform limited transactions at this stage. For example, you cannot create a virtual card or activate your bank account number. You also cannot  invest in stocks.

You can only get access to all Chipper Cash features after proving your identity. Proving your identity is also not a complicated process. You only need to provide some documents and details.

These include your BVN, proof of address, selfie, and a government issued identity card. For the proof of address, you can upload your PHCN bill or bank statement. In particular, the document must feature the address you registered with.

For the government issued ID, the best option is to take a photo of your NIN. You can also use your driver’s license. After uploading the photo, you’ll also need to type in the ID number. For example, if you upload a photo of your NIN, you’ll also need to type out the 16-digit number before submitting.

Is Chipper Cash Approved By CBN?

No financial company can operate in Nigeria without CBN approval. It doesn’t matter if it’s a digital-only company, like Chipper Cash. Or one with a wide physical presence like commercial banks.

So, since Chipper Cash is allowed to do business in Nigeria, it 100% has the approval of the apex bank. In particular, the company is incorporated in Nigeria as a Microfinance bank. So when you check CBN listings, you should check for Chipper MFB.

Where Will Chipper Cash Virtual Card Work?

As mentioned earlier, you can create two types of virtual cards with Chipper Cash. You can create a Naira card or a dollar card.

The Naira card is the same as any other card you get from Nigerian banks. You can use it online for all your local transactions. The card will work on platforms like Jumia, Netflix Nigeria, BoomPlay, and others.

On the other hand, the dollar card is your go-to for international transactions. Whenever you’re making any international payment prices in USD, you should use the dollar card. As a result, it’ll work on platforms like Amazon, Apple Music, iTunes, Spotify, and others.


Do you have more questions about what Chipper Cash is all about? If yes, please let us know in the comments.