Please, what is a visa card, master card, domi account? I need some clarification please

@author

Visacard and mastercard are both internationally accepted credit card company that provide the intterface for member institutions just like interswitch does in Nigeria for ATM cards with the security and worldwide acceptance.

MasterCard does not issue cards directly, but through their member institutions like HSBC, Royal bank of Scotland, local banks worldwide.

Master and Visa cards give you online spending power worldwide, but you might not be able to get your deliveries to Nigeria, because of our insecure borders in terms of financial transactions, so you might need a delivery address in UK,US and even south Africa etc to purchase online, but you can make payments online or go to a shop with a credit card terminal and shop till you die.

Remember, you are being charged interest based on your terms and conditions.



Whereas a domicilliary account is a foreign currency denominated account, e.g pound sterling account being operated in a nigerian bank.
It gives you the ability to get foreign transfers in Forex (foreign exchange) and withdraw in Forex.

You get charged for any withdrawals, say 1% of any amount withdrawn (e.g. 1pound for every 100pound withdrawn).
most banks would only open this sort of account if you have operated an account for as much as 6months or more.

Regards.