Hello Pals,
I just want to share my experience with FirstBank and I hope you can suggest me a better bank. Secondly, am saying this for others not to fall a victim.
These banks are so funny and criminal in their ways.
This was how it all started...
I needed to make a payment of $2,000 sometimes and could not do that with my Master CARD because of minimum daily limit by CBN. I was advised by a cashier in First Bank to open a VISA Naira CARD account. He said this card will allow me to get an exchange rate closeer to CBN rate and also allows me to spend up to $2,000. Quickly, I jumped at it but unfortunately.... The untold reality starts unfolding!
1. I had to pay 3,500 or 2,500 to have that card as against the normal 1,000 you pay to collect a Master CARD
2. You cannot use the VISA card in Nigeria ATM; if you do you will be charge 30 to every 1,000 you withdraw.
3. You don't get real time account update. As a matter of fact it takes 24 to 48hours for your account to be updated. This means if someone pays in 5k into your account; you won't be able to access that money until after 24hours because VISA CARD is a cars account and it will needs to ne credited by the system.
4. No alert
5. The exchange rate is FAR to the CBN rate. At the monent; they charge you N410 to $1
6. Now, you must have a minimum balance of 2k in the VISA CARD account. They said it's a new development.

Here is my annoyance; these banks kept changing policies as the money is there money. At first it was BANK Charge now it's minimum Account balance. The worst of all; there was no notice at all. I hope this as nothing to do with sai Baba o o o

Please, is there any card or bank with a better exchange rate. First Bank is HELL bro.