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Exchange Rates Of International Currencies >>>Updates on First Page<<< - Technology Market (32) - Nairaland

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Buying Itunes and Amazon @ Good rates / Attractive Dollar Exchange Rates For Online Shoppers (2) (3) (4)

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Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Besto(m): 10:10pm On Sep 18, 2015
lizzlix:
bro please who or how do you get your items from e bay. I'm wondering if you have an affordable and reliable process.

i buy and ship to a nlander who dos shipping business, he resides in the u. s.... he ships to Nigeria every 2weeks...his prices are pocket friendly....... so when he ships to Nigeria... i pick up from his office.. just check tech market... his thread tops the section.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by stevolinkon40: 10:17pm On Sep 18, 2015
Laredojohn:

Hello you could make use of shipping agents based in US with offices in Lagos...have an agent I use on nl ere...search lsm global...or contact moi via signature for other cheaper options


seriously? Cheaper options better than LSM??
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by lizzlix(m): 11:03pm On Sep 18, 2015
Besto:


i buy and ship to a nlander who dos shipping business, he resides in the u. s.... he ships to Nigeria every 2weeks...his prices are pocket friendly....... so when he ships to Nigeria... i pick up from his office.. just check tech market... his thread tops the section.
thanks bro
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by lizzlix(m): 11:04pm On Sep 18, 2015
Laredojohn:

Hello you could make use of shipping agents based in US with offices in Lagos...have an agent I use on nl ere...search lsm global...or contact moi via signature for other cheaper options
thanks. I appreciate.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by gbodimowo(m): 5:12am On Sep 19, 2015
whizcode:
Stanbic ibtc bank 5$ charged 1100naira
220/1$

gbese
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by gbodimowo(m): 5:13am On Sep 19, 2015
sucaba:
GTB and First Bank charged 220 15Sep.


seems they are all settling for 220 now
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by worldgee101: 5:14am On Sep 19, 2015
einsteino:
made a transaction of 9.06usd today via stanbic, was charged 1993.6naira......Finally my romance with stanbic is coming to an end....my sole reason of using stanbic was their rates.
Surprised u gt to know your charge same day! Thru what means do u always confirm dis afta d transaction?

Btw, hs anyone bn experiencing dis hitch dat stanbic never sent immediate alerts on online transactions. I think dis is nt just a ntwk prob. Infact, in my case sometimes d alerts, sms or email, comes two, three days afta d transaction, thus d aim of making a minor purchase to quickly confirm d current exchange charge/rate is defeated. Or is dis delayed alerts peculiar to only me?
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by gbodimowo(m): 5:17am On Sep 19, 2015
[quote author=modath post=38062426]

Nor bother, na 225+ range (even when we were enjoying 199.5 with stanbic) , & leave 1st bank inconsistency alone ooo, Na so dem lie to my friend that their rate was 199.5 in july, sunday they'll do 220, tuesday 217, wed it will be 237 naira, when she calls (intn'l call fa undecided) to complain, they will tell her " IT'S MASTERCARD RATE FOR THE DAY" sad

Sister, just curse stanbic & stay put. cheesy

What stings is that I'm supposed to send money to a friend to get my baby some supplies since 2wks but been foot dragging...

Have to do it today or tomorrow cos i read on the biz thread that a devaluation to 220 is imminent in the next few weeks...

God will help us.

[/quote


yes but baba no 1 gree times are tough now
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by gbodimowo(m): 5:26am On Sep 19, 2015
well said



sucaba:
Here's what my research has shown.
A bit of background to this first. Debit and credit cards can be used wherever you see the Mastercard or Visa symbol, depending on what your card is branded. But, when you use it overseas, your card issuer has to translate your purchase into Naira– the base currency of your card. There are two factors that have an effect:
1. The card issuer's exchange rate. If you look at any credit card, it'll have a MasterCard or Visa logo. This is the card issuer, and both set their own exchange rates, which is the rate your bank gets when you use a card overseas.
2. The non-Naira transaction fee. This is set by your card provider - i.e. your bank e.g. GTB or Stanbic
So, when you spend overseas, your bank or credit card provider first uses the wholesale rate set by MasterCard or Visa on the day you make the purchase to make the exchange. Then it adds its commission, typically between 2.5% and 3% for most banks in Europe and North America, but for Nigerian banks they are charging way more than that, even up to 15%. You will also see other fees for cash withdrawals which are fixed at a maximum of N420 by CBN but some banks like Access charge N240.
If you look at the rates charged by Master card and visa to the banks, it comes to N199+, but less than N2000 right now, but in turn the banks charge us N220 or more, representing 10% or more. That's where the problem lies. The banks are making unwholesome profits as foreign exchange fees. That's why you typically see when you get a refund, it's usually at the rate they were charged by visa or MasterCard and unless you complain, they chop the foreign exchange fees.
Excuse my pun, but the banks are laughing to the bank!
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by einsteino(m): 7:21am On Sep 19, 2015
worldgee101:
Surprised u gt to know your charge same day! Thru what means do u always confirm dis afta d transaction?

Btw, hs anyone bn experiencing dis hitch dat stanbic never sent immediate alerts on online transactions. I think dis is nt just a ntwk prob. Infact, in my case sometimes d alerts, sms or email, comes two, three days afta d transaction, thus d aim of making a minor purchase to quickly confirm d current exchange charge/rate is defeated. Or is dis delayed alerts peculiar to only me?

Alerts are received after the transaction has been finalized and passed the clearing house. this takes abt 2days. what i do is note my acct balance before consumating the transaction, then come back to check my effective balance.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by sucaba: 8:51am On Sep 19, 2015
I notice that Visa alerts are usually almost immediate, but MasterCard takes some time.

3 Likes

Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by sucaba: 8:56am On Sep 19, 2015
First Bank charged me 222 on 17 Sep.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by worldgee101: 9:08am On Sep 19, 2015
einsteino:
made a transaction of ..... today via stanbic, was charged ........
By dis expression, u gt to know d rate u are being charged dat same day. Right?

einsteino:
.....what i do is note my acct balance before consumating the transaction, then come back to check my effective balance.
By what means do u do dis? ATM or online acct?

einsteino:
Alerts are received after the transaction has been finalized and passed the clearing house. this takes abt 2days. ...
As much as I agree wt u on dis clearing hse thing, I disagree wt stanbic style, cos other banks gives me instant alert while carrying out same transaction, e.g diamond, first bank, etc.

1 Like

Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by stevolinkon40: 9:12am On Sep 19, 2015
sucaba:
First Bank charged me 222 on 17 Sep.
its actually N222.04 using first bank mastercard on Ebay few minutes ago.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Chartey(m): 9:19am On Sep 19, 2015
worldgee101:
By dis expression, u gt to know d rate u are being charged dat same day. Right?

By what means do u do dis? ATM or online acct?

As much as I agree wt u on dis clearing hse thing, I disagree wt stanbic style, cos other banks gives me instant alert while carrying out same transaction, e.g diamond, first bank, etc.
Some of the banks that give alerts will give you another alert about 2 days later eg Zenith Bank and the amounts in the two alerts may differ slightly.

2 Likes

Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by JesusCrew: 9:45am On Sep 19, 2015
@dragnet, gd job 4 sticking dis thread.

@alakara, gd job 4 offering dis.

However, may I suggest u modify d update format to include d means of pymnt. I mean to indicate if d pymnt is made wt either master dr/cr card, visa card, paypal, etc.

Then let d front page be promptly updated: dat's d good intention of mod dragnet to stick dis topic. e.g. as at tdy d last update info on d fp was Sept3. Thnks
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Laredojohn(m): 9:52am On Sep 19, 2015
stevolinkon40:


seriously? Cheaper options better than LSM??
Yea...lsm is cool though...
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by lordkay10(m): 11:46am On Sep 19, 2015
Laredojohn:

Yea...lsm is cool though...
Could u share with me those other options, LSM suck with their customer service
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by stevolinkon40: 12:46pm On Sep 19, 2015
Laredojohn:

Yea...lsm is cool though...
can I contact you for details?
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 3:46pm On Sep 19, 2015
Please house what is gtb rate for today?
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by sawhite: 4:01pm On Sep 19, 2015
tumababa:
Please house what is gtb rate for today?
220 boss so high,tuma don fly 4rm stabic
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Nobody: 6:04pm On Sep 19, 2015
Sterling is ₦220.006 today
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by einsteino(m): 10:52pm On Sep 19, 2015
worldgee101:
By dis expression, u gt to know d rate u are being charged dat same day. Right?

By what means do u do dis? ATM or online acct?

As much as I agree wt u on dis clearing hse thing, I disagree wt stanbic style, cos other banks gives me instant alert while carrying out same transaction, e.g diamond, first bank, etc.

yes thats how i find out the rates. i use online acct, you will notice it displays two types of balance. for ur last question, i have used gtb and uba they both act like stanbic in this regard. moreso it is possible to retract the funds before it is cleared
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Clone2020(m): 7:27am On Sep 20, 2015
Please has the $300 daily POS limit implemented by CBN been restricted? Are you guys able to buy stuff online for over $300 a day?
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tonjeola(m): 8:29am On Sep 20, 2015
Clone2020:
Please has the $300 daily POS limit implemented by CBN been restricted? Are you guys able to buy stuff online for over $300 a day?
yes with stanbic, but don't know of other banks.
I bought stuff worth $600 yesterday with stanbic card
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by Clone2020(m): 8:30am On Sep 20, 2015
tonjeola:
yes with stanbic, but don't know of other banks.
I bought stuff worth $600 yesterday with stanbic card

Oh wow, thanks
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by jerrygome: 10:05am On Sep 20, 2015
Abeg OP update the first page
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tonjeola(m): 11:58am On Sep 20, 2015
Clone2020:


Oh wow, thanks
uwc
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by missmonique: 1:37pm On Sep 20, 2015
tonjeola:
yes with stanbic, but don't know of other banks.
I bought stuff worth $600 yesterday with stanbic card
hi,please what was stanbic's exchange rate yesterday?
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by alakara(m): 4:14pm On Sep 20, 2015
alakara:
Due to popular demand, the thread is created to
monitor the forex rates of the following
currencies:
USD =US Dollars $;
CNY =Chinese Yuan ¥;
AED =UAE Dirham D;
GBP= Pound £
Euro €.
The format below should be used:
Bank : Currency : Rate : Date : Nairalander


STACHART : USD :#219.45 : SEPT 16 : damola1
STANBICIBTC: USD: #220 :SEPT 18: einsteino
STERLING : USD : #220 : AUG 12 : wahwah
FBN : USD : #220 : SEPT 16 : sucaba
GTB : USD : #220.4 : SEPT 17 : jeffy1206
DIAMOND : USD : #226 : SEPT 17 : Besto

ACCESS : USD: #225 : SEPT 1 : tayoast
FCMB: USD: #227 AUG 4 : stPete
ZENITH : USD : #228:AUG 28 : inihood
FIDELITY: USD: #228 : AUG 17 : tayoast

UBA: USD : #234.1 : AUG 11 : opeyemi5
UNION: USD: #236.88: AUG 16: DIZZYBIZZY


STANBICIBTC: ¥ :#34.6: AUG 3: KODILICh
STANBICIBTC : £: #244.61 : AUG 19 : opeyemmmy
GTB : £ : #338 : SEPT 16 : pappilo
STANBIC : € : #244.61 : AUG 19 : opeyemmmy.
GTB: € : #252 : AUG 28 : sirkezman
STANbic: AUD : #167.11 : SEPT 3 : Ymodulus

Thanks as you update this thread.
As at 1613 20/9/2015.

Pls soRry 4 updating late .it was due to circumstance beyond my control, thanks.
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by tonjeola(m): 5:56pm On Sep 20, 2015
missmonique:

hi,please what was stanbic's exchange rate yesterday?
N220/$1
Re: Exchange Rates Of International Currencies >>>Updates on First Page<<< by inze(m): 6:43pm On Sep 20, 2015
Clone2020:
Please has the $300 daily POS limit implemented by CBN been restricted? Are you guys able to buy stuff online for over $300 a day?

. . . its $300 cash withdrawal limit and $1,000 P.O.S/online transaction limit

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