With the suspension of the usage of naira-denominated debit cards for international transactions by some banks, the monthly spending limit for customers has dropped to zero from over $4,000 seven years ago. We've provided 3 easy methods by which you can bypass the international spending limit placed on naira debit or credit cards in Nigeria. In a recent statement to its customers, the bank said such transactions would not be available on its naira credit card, virtual card and visa prepaid naira card. Please enter your username or email address to reset your password. This came as the bank announced the suspension of international online and PoS transactions on naira Mastercard effective from December 31, 2022. Privacy & Terms. One of the big banks in Nigeria, GTBank Limited, has announced an upward review of the monthly spending limit on the Naira Mastercard of its customers for international transactions. @UBAGroup , you've just shot yourselves in the leg. Gtbank International Spending Limit Remains $100 Per Month in 2021 The banks gradually reduced their monthly international spending limit on naira cards from $100/$120 to $50/$20. The Union Bank Naira MasterCard is linked to your Naira account and can be used to perform transactions on all channels. Customers of Guaranty Trust Bank will no longer be able to carry out any international transaction on their naira-denominated ATM card. which the country is currently battling. This new policy is set to take effect on the 1st of March, 2022. This is according to mail sent to customers seen by Nairametrics. Zenith bank Virtual card (All you need to know), How to get 5-digit PIN for first bank transfer, How to transfer money from Access bank to Opay account (USSD, mobile app and bank card), How to transfer money from Zenith bank to Opay account (USSD, Mobile app and bank card). In July, Standard Chartered Banksuspendedinternational transactions on its naira visa debit card. Send and spend money in Nigerian naira and more than 50 different currencies No need to exchange and carry cash Virtual card feature Accepted in shops and restaurants all over the world Free ATM withdrawals from more than 2 million ATMs worldwide (up to 200 per month) Are you looking for ways to bypass the International Spending Limit in Nigeria? Please use your Visa Debit Multicurrency Card, Visa Prepaid (USD) Card, and Visa Gold Credit Card to continue transacting abroad with limits of up to $10,000.. It is denominated in Naira, can be used for ATM cash withdrawals and also to settle purchases/payments via POS terminals. This means if your making payment internationally with your Nigerian ATM card, you can only spend up to a maximum amount of 420 in a month. This means if your making payment internationally with your Nigerian ATM card, you can only spend up to a maximum amount of 420 in a month. They also stopped the use of naira cards for ATM foreign currency withdrawals. One of the banks in a statement issued to its customers, titled 'Important update on your Naira card for international spending' reads: "Dear customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international . Access bank, which is one of the best commercial banks in Nigeria have reduced their international spending limit to $20 monthly. punchng.com 1971- 2023 Punch Nigeria Limited, FOREX, BITCOIN AND BINARY TRADING: Naira Debit Cards May Never Work Again For Dollar Payments. This site uses Akismet to reduce spam. In an SMS to its depositors, the bank stated, "The monthly international spend limit on your FirstBank Naira MasterCard is now $100. GTB also stated that its dollar card allows daily ATM withdrawals of $1,000 or the equivalent in the transactions local currency, with no limit on international PoS or online transactions.
