According to the CBN regulation I am allowed to do a transaction to the limit of 1000USD daily on my mastercard.

See me see trouble ooo. I decided to buy something worth 871USD and the card keeps bouncing, only to call the customer care and I was told that UBA by themselves reviewed theirs downwards to 300USD(they have broken a CBN rule).

According to them this is because of the recent increase in the dollar rate ( the dumbest reason on earth). This has not only affected me but has denied me the ability to meet up my deadline to submit what I need to buy for a client.

Please guys avoid UBA, they are a bunch of unserious people!

Pls note: I am talking about online purchase and not dollar ATM withdrawal.

OP that is the new policy and it was placed in the quest to reduce money laundering and the rest.
Due to the high dollar rate, pple travel out or even give someone travelling out their cards to help them withdraw cash which they sold as black market.
The policy had to be adjusted. 300USD will be ur daily limit no matter the bank you use their card.

AmiLaHoit:
OP that is the new policy and it was placed in the quest to reduce money laundering and the rest.
Due to the high dollar rate, pple travel out or even give someone travelling out their cards to help them withdraw cash which they sold as black market.
The policy had to be adjusted. 300USD will be ur daily limit no matter the bank you use their card.

300 USD for ATM withdrawals, that I understand. What has that got to do with online transactions which was originally pegged at USD1000. All banks pegged withdrawals at USD300, I am talking about using my card to make online purchase!