Changes to gomoney virtual cards

We have some important news about our virtual cards.

One of our goals is to create products that provide our customers with the convenience and easy-banking facilities they deserve. This goal inspired our virtual debit MasterCards.

We designed our virtual cards to offer you premium security. In situations where you’re worried about your card’s safety, instead of blocking and ordering an entirely new one, you can temporarily freeze your virtual card while you investigate. You could then unfreeze or block the card and get a new one on your account instantly and at no extra cost. We, however, discovered recently that this free-form card model created some unique issues:

  1. Excessive card creation: We found that a sizable amount of people are blocking and creating 15–20 cards in less than a month 🤨. We’re not sure why a person would need that many cards, but it seemed odd to everyone on our team who noticed 👀
  2. Issuance Cost: There is a cost to every card that you create on your gomoney app. As a result of the excessive card creation, we are now shouldering more expenses than we anticipated.

Hence, we have had to change a few things about how our virtual cards operate.

How are gomoney virtual cards changing?

  1. Every user is entitled to one free virtual card: This means that the first card you create on your gomoney account will be FREE, but subsequent cards will cost N850.
  2. Maximum of 3 cards per month: Every gomoney user can now generate a maximum of 3 virtual cards every month. Virtual cards are also limited to an international spending limit of $100 per month, regardless of how many cards you generate.
  3. Tier 3 account for virtual cards: Originally, gomoney users with a Tier 2 account could generate a card. But, at the moment, CBN only allows Tier 3 customers to carry out online transactions. Since you can only use virtual cards online, we updated our card creation requirements to ensure that every virtual card can be used once it is created. Now, gomoney customers need to upgrade to a Tier 3 account to be eligible for a virtual card.

Upgrading is fast, easy, and free — all you need to do is: tap on your profile, select “Upgrade account”, follow the instructions to provide your biometrics (signature, ID, selfie). That’s it! 😃

We understand that you might have questions, please, shoot us an email at, and we’ll answer them.

Thank you for choosing gomoney 💙




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