Amid the dollar scarcity in the economy, the exchange rate for the dollar to naira has greatly increased to over #610/$ in the past week. This has called for diverse attentions from the mass as it’s not visible what’s causing the scarcity of dollars.
However, the dollar scarcity has made a lot of banks deactivate their naira cards from spending internationally. Most banks now advise their customers to request a dollar card to spend internationally without any limits.
What You Should Know
Access bank that proves to lead other banks when it comes to supplying customers with dollars on their naira debit cards has gone muted over many weeks now. Surprisingly, their exclusive package that offers 500$ monthly moved to 0$ unannounced early this month.
However, amid all these crises, GTbank has increased their international spending limits on their naira master debit card to $200 We don’t have any information why it was increased. But we believed they have a dollars in surplus,
One thing about the GTbank is that; once there is an increase or decrease in their international spending limit we hardly get to hear officially from them via their various channels.
What’s GTbank Exchange Rate??
As of the time of writing this post, the GTbank dollar rate is around 490-500/$ this rate is subject to change due to the flexible exchange rate policy the economy uses. You can keep track of new exchange rates with customer care.
Standard Chattered International spending limits
It’s so annoying to try renewing an apple music subscription for less than 5$ and the bank will decline your transactions.
Another bank that has paved the way for its customers to access international transactions on their debit cards is standard chattered.I use my limits wisely every month to pay my USD bills for the month.
Getting a standard chattered debit card is very hard and has lengthy processes, you can read more on how to open an account with them from Here
How To Request For A Naira Master Debit Card With GTbank Mobile App
Going to the bank to request for a card can be tiring, we all know how GTbank is always crowded? getting to queue at the entrance and still queue to see the customer care.
If you will like to get everything done at your comfort and have your card delivered to your door steps, then its achievable with the GTbank mobile app.
- Open your Gtworld mobile app
- Go to the next page and click on cards >> click on card replacements
- Choose the account you want the new card, choose account for charges normally a master card cost #1050
- Finally choose a pickup branch location you want your card to be sent to and in 3-7 working days, your card will be processed and you will get an SMS once it is available for pickup.
Have you tried using up to 200$ on your GTbank master debit card?? let’s know via the comment
FAQ
Can I withdraw with my GTB Naira MasterCard abroad?
The GTBank NRN Naira MasterCard be used for ATM withdrawals in Nigeria and Abroad, and is also accepted for payments/purchases on POS terminals and Online anywhere in the world.
What is the spending limit on Naira MasterCard?
In a statement to its customers, Union bank stated: “Please be informed that the daily/monthly spend limit on your Naira MasterCard is now $200. “If you require a higher international spend limit, open a UnionAce account. UnionAce offers you up to 4 per cent per annum on your dollar deposits
Can naira be used for international transactions?
It is denominated in Naira, but can be used for ATM cash withdrawals and also to settle purchases/payments via POS terminals and Online anywhere in the world. It is accepted both locally and internationally
What is the limit of dollar account in Nigeria?
Nigerian banks have issued a notice to customers on the limit of transactions to domiciliary accounts in compliance with regulatory directives from the Central Bank of Nigeria (CBN).
