Guaranty Trust Bank (GTBank) says it is suspending international transactions on its Naira Mastercard effective Saturday 31 December 2022. GTBank announced this on Thursday 29Dec2022 via a notice to its customers.

Customers will now be unable to make international automated teller machine (ATM) and point of sales (POS) transactions on naira Mastercards. The bank’s dollar card permits daily $1,000 (or equivalent in local currency) withdrawals on ATM transactions, and it has no withdrawal limit on annual spend and POS transactions.

The notice read “We write to inform you that you will no longer be able to use your naira Mastercard for international online and POS transactions effective 31st December 2022. Kindly note that you can use your GTBank dollar card for all your international spending requirements.”

Many other Nigerian financial institutions had earlier this year also suspended international transactions or reduced spend limits on their Naira cards.

These actions are in response to the forex crunch which Nigeria is currently facing.

SOURCE:

https://naijaphilia.com/blog/2022/12/30/naija-biz-gtbank-suspends-international-transactions-on-naira-cards-31-dec-2022/

A bank with poor service.

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