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Nairaland Forum / Nairaland / General / Business / 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard (4011 Views)
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6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by bongolistik(m): 5:56pm On Oct 15, 2016 |
In the bid to force bank customers to start acquiring foreign currency dominated ATM cards for their international transactions, some commercial banks operating in the country have finally put a complete suspension on the usage of their Naira MasterCard for international transactions. And what that entails is that aside from being unable to use their Naira MasterCard/VISA cards while abroad both on POS and ATM withdrawals, their customers will also no longer be able to use their cards for any online foreign transactions even if they are doing so from Nigeria. No doubt that this move is going to affect customers of those banks card holders negatively, especially those who still rely on their Naira dominated cards for foreign online transactions. The 6 banks affected and that have just issued statement as regards to that include; 1. Diamond Bank 2. Unity Bank 3. Access Bank 4. Eco Bank 5. United Bank for Africa (UBA) 6. Stanbic IBTC Bank Is your bank included among the 6? Source: http://highteknology.com/2016/10/see-6-banks-that-you-can-no-longer-use.html |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by micfoley: 6:00pm On Oct 15, 2016 |
Seriously? |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by bongolistik(m): 6:05pm On Oct 15, 2016 |
micfoley:yes over serious! |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by duduade: 6:06pm On Oct 15, 2016 |
I was so sure they no born Gtb bank well.... 1 Like |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by imrandbest(m): 6:58pm On Oct 15, 2016 |
Seriously, this is like deadly blow on my face because I just opened diamond account so I can use it for my int'l transactions. Can't Shout! |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by bongolistik(m): 7:40pm On Oct 15, 2016 |
imrandbest:Sorry |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by naijafire(m): 7:43pm On Oct 15, 2016 |
imrandbest: Na number one for the ban list.. 2 Likes |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by uboma(m): 7:50pm On Oct 15, 2016 |
It is very annoying indeed. Diamond and Stanbic banks notified me via email about the suspension. |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by kaysy(m): 7:55pm On Oct 15, 2016 |
Really? i just acquired a UBA Africard with a hope that its gonna work since my ECOBANK Naira MasterCard has recently failed, so even the Africard will not work? if i load the card on Monday and it fails, then ZENITHBANK Dom account is the only option i have here... God! |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by mycar: 8:33pm On Oct 15, 2016 |
This is serious, pendulum govt is at it again 1 Like |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by GMBuhari: 8:44pm On Oct 15, 2016 |
It's not a bid to force customers to open international accounts its a CBN ban, thier rates even on PayPal is unfriendly 1 Like |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by Adesiji77: 9:21pm On Oct 15, 2016 |
Expect more banks to join the list... 7. GTB (Offshore ATM withdrawal stopped) 8. Union Bank Cc: duduade 1 Share
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Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by grandstar(m): 4:58am On Oct 16, 2016 |
All thanks to the senseless economics policies presently on ground, policies which Emir Sanusi has consistently condemned. Stop subsidising dollars! As long as the massive disparity between the official rate and black market continues , shortages will abound because no one will want to supply forex at 310 when he can get 470 at the black market. Also, demand at the official rate will be excessive since it's underpriced by genuine users, hoarders and round trippers. 2 Likes |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by pat077: 7:43am On Oct 16, 2016 |
What will cost to have a dollar card |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by bongolistik(m): 8:28am On Oct 16, 2016 |
pat077:$30. $20 for the card and $10 for annual maintenance fee. Though for some banks you need a dorm account first before you can get it. |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by elderken(m): 10:35am On Oct 16, 2016 |
Wema should be included in that list |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by okitikpo: 6:41am On Oct 17, 2016 |
Chai! Diamond Bank has killed personsl o |
Re: 6 Banks Suspends Foreign Transactions Completely On Their Naira Mastercard by Adesiji77: 5:39pm On Oct 18, 2016 |
Most Banks Limits/Suspend Intl' Usage of Naira Cards; FBN Remains Only Bank Able to Sell FX to BDCs As the foreign exchange liquidity issue continues to linger, banks have continue to review and modify their international usage of naira debit cards. https://www.proshareng.com/news/FOREX/Most-Banks-Limits-Suspend-Intl--Usage-of-Naira-Cards--FBN-Remains-Only-Bank-Able-to-Sell-FX-to-BDCs/32607 cc: lalasticlala, dominique, Mynd44 |
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