According to this post by Punch yesterday (http://punchng.com/dollar-scarcity-banks-suspend-atm-card-usage-abroad/), many banks are suspending the ability to pay for goods and services that is priced in dollar online. My question is what is the way around this?
If one switch to Dollar Domiciliary Account and use the Dollar Mastercard, won't the charges for Fx Outflows (Foreign Currency Outward Transfer) apply on every transaction? And those charges are huge!

hmm007:
According to this post by Punch yesterday (http://punchng.com/dollar-scarcity-banks-suspend-atm-card-usage-abroad/), many banks are suspending the ability to pay for goods and services that is priced in dollar online. My question is what is the way around this?
If one switch to Dollar Domiciliary Account and use the Dollar Mastercard, won't the charges for Fx Outflows (Foreign Currency Outward Transfer) apply on every transaction? And those charges are huge!

There is way out, Even before banks announced this. I have stopped using ATM card because it costly using ATM card to purchase things from abroad.

ugasonate:


There is way out, Even before banks announced this. I have stopped using ATM card because it costly using ATM card to purchase things from abroad.

pls let us know the solution

hmm007:
According to this post by Punch yesterday (http://punchng.com/dollar-scarcity-banks-suspend-atm-card-usage-abroad/), many banks are suspending the ability to pay for goods and services that is priced in dollar online. My question is what is the way around this?
If one switch to Dollar Domiciliary Account and use the Dollar Mastercard, won't the charges for Fx Outflows (Foreign Currency Outward Transfer) apply on every transaction? And those charges are huge!

did your bank send you any message that they stopped or did you attempt paying and it didn't work,don't spray news you don't have facts,abroad is different from internal except you try and it didn't work.

Brownhacks:
did your bank send you any message that they stopped or did you attempt paying and it didn't work,don't spray news you don't have facts,abroad is different from internal except you try and it didn't work.

And I guess you didn't read the Punch News article I attached. And yes I went to a GTB branch yesterday and their staff confirmed it.

This is part of the article

"Also suspended by the banks are online transactions priced in foreign currencies. This means that customers of the banks will no longer be able to use their debit or credit cards to make online transactions that are denominated in dollars, euros, pounds sterling and other foreign currencies."