Begin by peeling the ripe bananas and mashing them with a fork in a medium-sized mixing bowl. Make sure that the bananas are ripe but not overly soft or mushy, as this can make the fritters too wet.

In a separate mixing bowl, combine the all-purpose flour, cornstarch, granulated sugar, baking powder, salt, ground cinnamon, and ground nutmeg. Mix well until all the ingredients are fully incorporated.

Add the dry ingredients to the mashed bananas and mix until the batter is smooth and thick. Slowly add the water to the batter, mixing continuously until the batter is smooth and has a thick consistency. You want the batter to be thick enough to coat the bananas but not too thick that it won't spread in the oil.

Heat the vegetable oil in a deep fryer or large saucepan over medium-high heat. You want the oil to reach a temperature of around 350°F (180°C).

Once the oil is hot, use a tablespoon or ice cream scoop to drop spoonfuls of the banana batter into the hot oil. Make sure not to overcrowd the pan or fryer, as this can cause the fritters to stick together and not cook evenly.

Fry the fritters for around 2-3 minutes on each side, or until they are golden brown and crispy. Use a slotted spoon to remove the fritters from the oil and place them onto a plate lined with paper towels to drain any excess oil.

Repeat the process until all the banana batter has been used up. You can also add other ingredients like chocolate chips or nuts to the batter to create a different flavor.

Once all the fritters are done, serve them immediately while they're still hot and crispy. You can also serve them with a dipping sauce of your choice, such as honey, chocolate sauce, or caramel.