Tuesday, July 25, 2017

UBA, Ecobank, Fidelitybank, First Bank of Nigeria International Spending Limits Increased

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In order to satisfy international online transactions few banks such as GTBank,First Bank,Ecobank, UBA, have made an effort to increase the monthly international spending limits on their Naira cards which have already being enabled for international online transactions.


However First Bank of Nigeria recently raised the limits based on international transactions on Naira cards to $1,100 on a monthly basis over ATM,PoS and some other available online channels.

Not withstanding, the daily ATM withdraw has being raised to $300 but customers that are in China and UAE will have a monthly limit of $250 for PoS and other online transactions


debit cards of nigerian banks


UBA, Ecobank, Fidelitybank, First Bank of Nigeria International Spending Limits Increased

There have being an update from the United Bank for Africa Plc (UBA) in the sense that they have a have announced an upward review of the monthly international spend limit on its debit and prepaid naira cards from $100 to $2,000.


This new update enables customers to withdraw up to $2,000 on a monthly basis (pre month) instead of $100 which was the maximum then.


Back then , international transactions were suspended on Ecobank Master card but going forward but fortunately now Ecobank account holders can make use of their Naira denominated Ecobank MasterCard for international transactions and enjoy a monthly limit of $1,000 and such advantage is also similar to GTB


However Ecobank sets $750  for gold and $300 for standard card holders Fidelity bank is not excluded and they have in fact raised the monthly international spend limit on its naira Visa credit and debit card transactions to $1,000.


Some other Nigerian banks claim that the increase had been done in response to the growing demand for higher limits by customers making international transactions,but sources confirms that the increase is as a result of the improved foreign exchange supply for Nigerian banks.


Let just hope Zenith bank, Diamond bank, Sterling bank, Access bank, FCMB and some others will make effort to increase the monthly international spending limits on their payment cards so that their account holders can also enjoy this new service
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