stagger:


My friend, if you have a domiciliary account, you will be paid in foreign currency for each withdrawal. I have operated one for years and I have NEVER been paid in Naira. Not once. I will even transact tomorrow.

Get your facts straight and stop confusing newbies here.

Which planet are you?

modath:


The tone is a bit judgemental & to answer you, US & UK banks have never allowed such so....



I do not want to sell, i want to leave it in the acct till further notice incase the price of crude oil refuses to come of its present home in the dungeon & the govt decides to stop giving USD as PTA.

Moreover, its not up to commercial quantity, its just a bit above 5k+ change...



I'm not selling cos i got it above the banks' 197-200 buy rate ..... I already have the money, i over prepared for my plans here & the stanbic card i brought with me ensured i didn't spend much of my cash.....

From my understanding, its 300$ across ALL platforms, so its most likely 900$... will do an experiment today, take whatever 60k ( don't think that's up to 300$, even at STANBIC's unbeatable 207) can give me from the ATM & still try & buy stuff that will exceed 200$ & see..

Will report my findings as soon as I'm done.

And sorry does the latest policy about $300 limit apply to only dorm account or any account? Cos I'm tryna buy a car from the USA and some clothings...

Cos if dats d case den it means they've placed an embargo on online shopping be that oh.

drlawizle:


And sorry does the latest policy about $300 limit apply to only dorm account or any account? Cos I'm tryna buy a car from the USA and some clothings...

Cos if dats d case den it means they've placed an embargo on online shopping be that oh.

U never see anything.

Ymodulus:


Bro, think twice

For school fees you use Form A. That's what is in vogue not all this buying dollars. Beside when travelling with above $10k you have to declare it. And What do you think you can sell yours cheaper than PTA? Or BTA?


Bro this is not people playing smart its playing wise. Why will I buy dollars from you when we have several options to pay for school fees.

1. Form A. ( 199.5 fidelity and 203 at stanbic. Last week )
2. PTA. ( 199.5 per dollar at Fidelity bank )
3. Money Gram ( rough exchange rate with charges 222 @ first bank )





Cc: Tdayof

Please what of someone who wants to buy clothings and a car from the usa...how does he go about it please?

drlawizle:


Please what of someone who wants to buy clothings and a car from the usa...how does he go about it please?

If it is among the items eligible for import on forex list, go to any bank and fill the form, they will wire it to your seller.

Sorry for posting this but this is d account detail of the person I'm dealing with. Do you think this is sufficient enough?

West end auto sales
Bank of America
11681 West broad street
Richmond VA 23233
Rt# 051000017

makzeze:
If it is among the items eligible for import on forex list, go to any bank and fill the form, they will wire it to your seller.

makzeze:
Yes, you can only withdraw in Naira while in Nigeria.

Simple question: can you go to a bank in US or England and withdraw in Naira? I dont think so.

It is not compulsory that you must withdraw in Naira except you want the bank to do the conversion for you. If you receive an inflow in your € £ $ dom account, you can withdraw € £ $ in cash or wire it out to another. It's very easy if it's done in-house rather than doing the transfer from one bank to another. They only just trying to avoid making payments to another via foreign currency.

passwelle:

Do you still have this in USD? I can buy from you at a competitive rate. Check your email.

At what rate can you buy?

drlawizle:


What do you mean by who'll buy it from you....can't he sell it to them abokis at BDC?

My dear, northeners would buy but who would buy from them since nodody can deposit to the domicialiary account.

mavinc4u:


My dear, northeners would buy but who would buy from them since nodody can deposit to the domicialiary account.

Some Of them if not most now transact online and for those that still deal with cash,they will take it to Cotonou or Ghana.

drlawizle:


And GTBank dey charge like 229..their father!

, ,dem grand & great grand join too. :

Not to late to join the stanbic train..Follow @stanbicIBTC to know MC daily rates, GT has become a purely local bank for me, I nor get money to dey dash bank..

modath:


The tone is a bit judgemental & to answer you, US & UK banks have never allowed such so....



I do not want to sell, i want to leave it in the acct till further notice incase the price of crude oil refuses to come of its present home in the dungeon & the govt decides to stop giving USD as PTA.

Moreover, its not up to commercial quantity, its just a bit above 5k+ change...



I'm not selling cos i got it above the banks' 197-200 buy rate ..... I already have the money, i over prepared for my plans here & the stanbic card i brought with me ensured i didn't spend much of my cash.....

From my understanding, its 300$ across ALL platforms, so its most likely 900$... will do an experiment today, take whatever 60k ( don't think that's up to 300$, even at STANBIC's unbeatable 207) can give me from the ATM & still try & buy stuff that will exceed 200$ & see..

Will report my findings as soon as I'm done.

The message below is from gtbank

Dear Customer,

Commencement of PTA and BTA Sales and Review of International Spending Limits on Your Naira MasterCard

This is to inform you that we will commence the sale of Personal and Business Travel Allowance (PTA & BTA) from Monday, 10th August 2015 at select branches across the country. This means that all intending travellers can now purchase foreign currency at designated GTBank branches up to a quarterly limit of $5,000 and $4,000 (for BTA and PTA respectively) or its equivalent in GBP and EURO.



Please find requirements below:




Business Travel Allowance (BTA)
Personal Travel Allowance (PTA)

1
Valid visa and return ticket
Valid visa and return ticket

2
Valid International Passport
Valid International Passport

3
Copy of Certificate of Incorporation


4
Letter of Invitation from offshore business counter party


5
Letter of nomination from your employer





However, in view of the increased difficulty in sourcing foreign currency to settle international transactions on Naira MasterCards, we have reduced the daily international spending limit on your Naira MasterCard to $300.This means that you can only spend up to $300 daily when using your GTBank Naira MasterCard for international payments via POS and online.



You will, however continue to have the option of paying for medical bills, school fees, mortgages and credit cards using Form A, as these are eligible transactions for foreign currency. Simply visit any GTBank branch to complete a Form A along with the required documents to make these payments.



Kindly accept our sincere apologies for every inconvenience this might cause, and we would like to assure you that we are working hard at finding alternative sources for foreign currency and a quick respite to this situation.

For ways we can help you, please contact our Card Services Team at cardservices@gtbank.com and our 24-hour contact centre, GTConnect on any of the numbers listed below

mavinc4u:


My dear, northeners would buy but who would buy from them since nodody can deposit to the domicialiary account.

Before the advent of dorm accounts, were people not buying forex from Abokis? Why are you talking as if without dorm account deposit option there wont be a black market for forex.

drlawizle:

At what rate can you buy?

This was from about 3 weeks ago. Recent events have overtaken the need. Cheers

mavinc4u:


My dear, northeners would buy but who would buy from them since nodody can deposit to the domicialiary account.

tourist travellers/money launderers

makzeze:
Yes, you can only withdraw in Naira while in Nigeria.

Simple question: can you go to a bank in US or England and withdraw in Naira? I dont think so.

stagger:


My friend, if you have a domiciliary account, you will be paid in foreign currency for each withdrawal. I have operated one for years and I have NEVER been paid in Naira. Not once. I will even transact tomorrow.

Get your facts straight and stop confusing newbies here.

makzeze:
Which planet are you?

I am afraid, stagger is right. If you have a dorm account, credited with forex (e.g. via telegraphic inflows), you are able to withdraw the forex in cash. The bank will charge you a comission which varies from bank to bank but they will give you the forex, cash.


The banks are complaining that they have too much forex in their vaults and have nothing to do with it since CBN refused to take it from them. This is one of the reasons, why they stopped recieving cash forex deposits. They however continue to pay out forex to legimate account holders as this is the only way they can deplete their large forex holdings.

The claim by makeze is simply not correct.

mavinc4u:


My dear, northeners would buy but who would buy from them since nodody can deposit to the domicialiary account.

My dear abookiis still dey buy dollars from people & how they re-sell it is not my headache...stop using Panadol for another man's headache..

And Chadians, Nigerians and Benonoise have been rushing to naija market to buy our dollars. So stop bugging yourself.

@mavinc4u,
I have the mail in my box but im not using GT, dont even have more than a few dollars in my GT cos of their useless & exploitative rate.

Im using Stanbic, someone was able to effect a 1,455k$ with his stanbic MC today.

Will report my findings, relax...

modath:

, ,dem grand & great grand join too. :

Not to late to join the stanbic train..Follow @stanbicIBTC to know MC daily rates, GT has become a purely local bank for me, I nor get money to dey dash bank..

So you mean if I wan wire money to oyinbo man...they'll just change it at the rate of 207?

drlawizle:


So you mean if I wan wire money to oyinbo man...they'll just change it at the rate of 207?

Yes boss... but their PTA (cash) is 208...

modath:


@mavinc4u,
I have the mail in my box but im not using GT, dont even have more than a few dollars in my GT cos of their useless & exploitative rate.

Im using Stanbic, someone was able to effect a 1,455k$ with his stanbic MC today.

Will report my findings, relax...

Okay, try it on Monday because the mail said it would take effect on Monday though is already effective on gtbank's card.

modath:


@mavinc4u,
I have the mail in my box but im not using GT, dont even have more than a few dollars in my GT cos of their useless & exploitative rate.

Im using Stanbic, someone was able to effect a 1,455k$ with his stanbic MC today.

Will report my findings, relax...

What's Stanbic MC?

modath:


Yes boss... but their PTA (cash) is 208...

Make I quickly go change my dollar for Aboki hand den deposit sharperly to my savings account then so I can wire money...or will I have to open a dorm account for the wiring or I can do it with my normal savings account?

modath:


Yes boss... but their PTA (cash) is 208...

Wetin I wan use PTA do? Shey I go dey need that one too ni?

mavinc4u:


Okay, try it on Monday because the mail said it would take effect on Monday though is already effective on gtbank's card.

Why should i wait till monday? Moreover Stanbic didn't send me any mail so......

drlawizle:

What's Stanbic MC?

Stanbic mastercard.... As for the dorm thing i dont know much about that but i do know i was able to pay 2270 with my card @ 199.5.

modath:


Why should i wait till monday? Moreover Stanbic didn't send me any mail so......



Stanbic mastercard.... As for the dorm thing i dont know much about that but i do know i was able to pay 2270 with my card @ 199.5.

What I mean is dat can I wire money abroad with my normal savings account at the 207 rate?

drlawizle:


What I mean is dat can I wire money abroad with my normal savings account at the 207 rate?

Ask from @stanbicIBTC for precise info.

modath:


Ask from @stanbicIBTC for precise info.

Okay....thanx.

modath:


Why should i wait till monday? Moreover Stanbic didn't send me any mail so...

stanbic always believe in working hours just like when they changed their rate. Meanwhile that message was also confirmed by standard chartered customer as they received same message.

[b][/b]

mavinc4u:

stanbic always believe in working hours just like when they changed their rate. Meanwhile that message was also confirmed by standard chartered customer as they received same message.

10th is tommorrow, still have 500k limit for today.

makzeze:
Which planet are you?

This sort of crass ignorance is only demonstrated by people who report what they have heard from the grapevine and not what they actually experience. Tomorrow I will withdraw dollars from my dom ac and change at Sheraton Abuja like I have always done in the last 10 years. As for the fellow who is saying "who will buy the dollars from you"..., you probably do not have the faintest idea of how much foreign currency is held by people in Abuja alone.

Do you know that the casino in Transcorp Hotel stacks multiplied millions of dollars, pounds, Euros and other hard currencies for their business? Do you know how many people are still actively laundering money in Nigeria? The $2.1m seized at MMA 2 terminal: where do you think such cash was sourced? At the banks?

Can your President who is preaching anti-corruption vouch 100% for the source of money used in funding his election campaign? You want to tell me that his campaign was funded with Naira from 100% legit sources? Please spare me.

Go and get your facts straight and stop dishing out ignorance here.

stagger:


This sort of crass ignorance is only demonstrated by people who report what they have heard from the grapevine and not what they actually experience. Tomorrow I will withdraw dollars from my dom ac and change at Sheraton Abuja like I have always done in the last 10 years. As for the fellow who is saying "who will buy the dollars from you"..., you probably do not have the faintest idea of how much foreign currency is held by people in Abuja alone.

Do you know that the casino in Transcorp Hotel stacks multiplied millions of dollars, pounds, Euros and other hard currencies for their business? Do you know how many people are still actively laundering money in Nigeria? The $2.1m seized at MMA 2 terminal: where do you think such cash was sourced? At the banks?

Can your President who is preaching anti-corruption vouch 100% for the source of money used in funding his election campaign? You want to tell me that his campaign was funded with Naira from 100% legit sources? Please spare me.

Go and get your facts straight and stop dishing out ignorance here.

Hmmm. Mr knowall, what use is a dollar in a wallet if it can't be spent? Please read all my comments on nairaland with full understanding because I speak in parables a lot, don't be quick to type. Thanks