United Bank for Africa (UBA) says its customers can no longer buy jewellery, bet or watch access pornography sites with the bank’s card.
In a mail titled “we want you to transact safely”, and sent to customers on Thursday evening, the bank, which is one of the biggest in the country, said its debit and prepaid cards are now restricted from carrying out such transactions.
“We wish to inform all cardholders that we have placed restrictions on the Bank’s debit and prepaid cards from carrying out transactions with merchants that are transacting on the following business categories;
-Jewellry
-Pornography
-Dating and Escort Services
-Betting (including lottery tickets, casino gaming chips, off-track betting and wagers)
“This has become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages,” the bank said.
A number of restrictions have been placed on naira cards across deposit money banks over the past 24 months, in a bid to conserve foreign exchange as directed by the Central Bank of Nigeria.
In August however, banks lifted the restriction on naira cards from performing transactions worth $100 per month to over $1,000 per month, as the country’s foreign reserves surged by over $5 billion.

https://www.thecable.ng/can-no-longer-buy-jewellery-watch-porn-uba-card

LOL! Costumers' safety indeed... When una lose all una customers, una eye go open.

All these banks that shouldn't be banks in the first place

damola1:
All these banks that shouldn't be banks in the first place

I wonder o



But in reality do you notice a pattern?


Having seen how cyber cafe's and cyber criminals operate I can tell you this is an inconvenient but smart decision


Carting : buying stuffs with people's cc/card

The first thing people do with your card when they are the info is try to order bling bling the more expensive the more damaging

if transaction fails they move to loading other people's betting account with your stolen cc and collect real cash from potential buyer,


If that fails they upgrade dating site with your cc


And if you frustrate them with low balance, have you ever seen ads like, HD movies, premium access, all our contents for $1 click here?


Yes, they buy premium porn accounts with your card , porn sites however are the most vulnerable sites, your card's info gets stolen again and the cycle begins all over again which may go unnoticed until you receive bank statement


Point is this is a move beyond other bank's current level

It's a giant leap into the future of security but I think it's move made too soon



NB I don't bank with GTB , just stating the obvious facts