Banks’ customers can now make payments in foreign currencies for their purchases on international outlets and also pay directly for subscriptions and services on global platforms without relying on third-party apps, virtual dollar cards, or domiciliary accounts.
This came as foreign transactions with Naira debit cards (ATM) were resumed across commercial banks after about three years of suspension.
With this development Nigerians can now make payments with their Naira ATM cards for international shoppings on platforms such as Amazon directly from their Naira bank account subject to prevailing exchange rate and transaction limits determined by their respective banks.
The transaction is also subject to availability of the foreign currency at the point of payments.
Some banks have imposed limits ranging between $1000 and $2000 per quarter.
Yesterday several banks sent messages to their customers communicating the development.
In their email GTBank stated: “Dear customer, we are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world.”
Transaction limits
The bank clarified that the $1,000 quarterly limit applies to all international transactions, including ATM withdrawals, online purchases, and point-of-sale (POS) payments outside Nigeria.
ATM withdrawals abroad are capped at $500 quarterly.
UBA also confirmed the resumption of international transactions for its Premium Naira Cards, including Gold, Platinum, and World variants.
“This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility,” the bank said in a customer notice.
Wema Bank joined the list of banks reactivating global access, announcing: “Your Wema Naira Mastercard just went global!
“Now you can pay in dollars on all your favourite international platforms Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
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