Fidelity Bank Plc on Tuesday became the third Nigerian bank to raise the monthly international spend limit on its naira Visa credit and debit card transactions to $1,000.

The move, which clearly was an indication of the improved dollar liquidity in the economy, is also expected to strengthen investors’ confidence.

According to Fidelity Bank yesterday, the initiative was in response to customer needs and the improved foreign exchange liquidity in the banking system, a fall-out of various economic recovery measures put in place by the Central Bank of Nigeria (CBN).

“We are pleased to remove the restrictions on International transactions on Fidelity Visa Naira Credit and Debit Cards. It was important for us to take advantage of the slight ease in sourcing foreign exchange to do this in order meet with the yearnings of our teeming customers,” Fidelity Bank Chief Executive Officer, Nnamdi Okonkwo said.

Specifically, the bank in a message to customers said international transactions on Fidelity Visa Naira Credit and Debit Cards will be subject to the following limits: “Visa Naira Debit Cards (POS/Web only) equivalent of $1000 only; Visa Naira Credit Cards (ATM/POS/Web) equivalent of $1,000 only.”

Fidelity Bank explained that the window of opportunity with international transactions would only be available to Visa naira credit and debit cards and reminded customers that charges on credit cards are dependent on the acquirer and ATM used whilst POS/Web purchases attract no charges.

“We encourage customers to always insist on being billed in the currency of the country in which the purchases are made especially, POS payments in order to avoid attracting additional charges,” Okonkwo further stated.

http://investorsking.com/fidelity-bank-raises-international-spend-limit-naira-cards/

I think it's all the banks because even GT Bank did. Now 1000usd...


Lol I finally made FTC o.. chineke I can't believe this.. oya make them give me the award wey them they give FTC

Now them eye don open..

Lol, 3rd bank? Biko, na who carry 1st and 2nd?

fidelity ...i don't have anything to say

Lord pls let this rain subdue, i need to be on my way to work

I guess thus move is an indication of changes to expect in the coming weeks.

is okay

GTBank has done same too...

Asides gtb..which other bank has raised limit to 1000usd per month

will fidelity MasterCard work for international transaction

Thank God. I hope they will use the official rate

Earthrealmlord:
Thank God. I hope they will use the official rate

what is the bank's naira exchange rate to dollar

Yes but at what exchange rate?

1,000usd? Thats poor, UBA is now 2,000usd

texazzpete:
Yes but at what exchange rate?

The big question, hope it's not 380 like some other banks.

ok na

Has UBA also done theirs' ?

Let them also reduce a dollar to 198N

Good one .... Waiting for others to do the needful...


North Korea is at it again.....

https://www.youtube.com/watch?v=-dDJUjMuV9Y

Let other banks follow suit... Good move.

Oil prices have not gone up. So how come d market don improve. Or was CBN just hoarding it before

You mean the same UBA i got their SMS as having raised d limit to 1k usd?

cyzzy:
1,000usd? Thats poor, UBA is now 2,000usd

Sniper12:
Oil prices have not gone up. So how come d market don improve. Or was CBN just hoarding it before

Our non oil sector export has improved which is one of the reason

GTB started this initiative and big one to them. However can someone tell me how much they charge per dollar on the mastercard?

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Somebody should tell me when GTB unblock ebay.

hmm

nkeona:
will fidelity MasterCard work for international transaction

I think it is only visa for now

wristbangle:


Our non oil sector export has improved which is one of the reason

GTB started this initiative and big one to them. However can someone tell me how much they charge per dollar on the mastercard?

374 per dollar

I doubt if any of them including GTB can match the current black market rate. It's madness for GTB to be charging 370-380 when black market rate is less than 370. It's cheaper for you to get a dollar card and fund it with dollars you buy from mallam

This is great. I Love Fidelity bank.