Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must - Business - Nairaland
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| Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must by bongolistik(m): 4:56pm On Aug 11, 2016 |
Recent reports show that the banks now charge somewhere between N430 to N480 per Dollar transaction online with Naira ATM cards, which is even far beyond what the currencies are obtainable in the parallel/black-market section. As it stands currently, the black-market selling rate of Naira-Dollar transaction is somewhere around N395 to N400 per dollar; meaning that you can presently obtain $1 in the black-market for N400. If you can confidently walk to the black-market section and buy a Dollar for N400, why on earth do you now have to pay N430 to N480 (Bank rip-off rate) for a Dollar in online transaction with your MasterCard? The only solution now, to stop the banks rip-off in that manner is to opt for foreign/Dollar currency dominated MasterCard/VISA as against the Naira Dominated Cards. Source: http://highteknology.com/2016/08/stop-getting-ripped-off-by-banks-dollar.html 1 Like |
| Re: Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must by Damolux01(m): 7:13pm On Aug 11, 2016 |
Will one get this from d bank? |
| Re: Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must by bongolistik(m): 7:28pm On Aug 11, 2016 |
Damolux01:yap |
| Re: Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must by Damolux01(m): 10:44pm On Aug 11, 2016 |
bongolistik:my atm card with Access Bank has expired 2 last month. Should I just request for a Dollar Visa card instead since I intend getting another one. |
| Re: Don't Allow Banks To Rip You Off, A Dollar Dominated Mastercard In Now A Must by bongolistik(m): 11:13pm On Aug 11, 2016 |
Damolux01:For ATM withdrawal purposes still go for the normal Naira Card, but for online international transactions, go for the Dollar Visa card |
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