This is allowable travel allowance by Central Bank of Nigeria to any Nigerian traveling on vacation or business outside the country. US$4000 is allowed on a quarterly basis for Personal Travel Allowance while US$5000 is allowed on a quarterly basis for Business Travel Allowance.

With the increase in the existing limit on Naira Debit and Credit cards (MasterCard and Visa) usage from $40,000 to $150,000 per annum subject to monthly returns to CBN. Customers who wish to access PTA/BTA must not have Naira Debit / Credit (MasterCard and VISA).

To view Requirements to apply for both PTA and BTA.

Users of computers world over are currently faced with an escalating threat of cyber-attacks which as at Friday, May 12, 2017, had infected over 200,000 systems in at least 150 countries and the numbers are increasing. Security threat reports indicate an escalation pattern unlike any ever witnessed before by the ransomware called “WannaCry”.

What to Do and What not to Do on Your System to protect this Virus:

This has come to my notice that most of the internet banking in Nigeria charge you as much as 100 Naira or even more when you try to transfer money from your account to other banks in Nigeria. Some third-party platforms like Quickteller and so on.

However, there is a new online platform called Thrivesend that charges the lowest transaction fee of 45 NGN. It even allows you to send money using your International Cards.

See the full details as you read on,

Cheque Truncation System is an efficient way of clearing cheques. It is in fact, better than the existing method. This article attempts to explain Cheque Truncation System and its benefits both to account holders as well as banks.

What is a Cheque Truncation System?

Swift code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them.

The Swift code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office.

The code formatted are as follows:

What is the one thing that employees would most look forward to at the end of each month, apart from their salaries? That’s a trick question, there is none! The receiving of one’s salary has always been the most anticipated time of the month for many, if not all, of the employees of any company, be it a public or private corporation. Some companies choose to bank in the employees’ salaries directly to the stipulated bank account. Some choose to issue cheques for the employees to the bank themselves.

see below what a cheque is and features contained in a cheque

Most Nigerians find it so difficult to check their account balances from the comfort of their home because they do not have such information. But here are some codes of different banks use in checking account balance and if your bank is not listed just send a mail to admin@naijabankingblog.com. Take note that this is applicable to the phone number you use in registering the account.

click here to views codes

Before I proceed let me tell you a story when I was in access bank plc. As a teller. a man came to me with a savings booklet signed with amount and date all well-arranged when I collected the slip to verify the signature and check account balance with mandate I discovered it was a woman passport that was there.

To continue the rest of the story and know the differences between current and savings account, view the link below:

http://naijabankingblog.com

My little experience when I misplaced my wallet on a fateful night i don’t know what to do my ATM cards my id cards and cash i was distress and confused before I could get to the bank the next morning for complaint I received an alert of the last N10,000 I had in my bank account I felt so bitter that I wouldn’t want anyone close me to experience such tragedy or confused in such a state that is why I decided to share this banking information. This has been a very vital challenge for customers especially when they have a lot of cash in that account and the card just got lost or stolen by robbers they become confused.
you don’t need to just go by this steps.

To view steps visit below:

http://naijabankingblog.com

PayPal is the world’s most popular ‘middleman’ service for online purchasing. Where money grams and wire transfers were the standards in the 20th century, today over 170 million internet users turn to PayPal to send money to each other via email. Since its start in 1998, PayPal has become such a convenient and trusted way to transfer money online, over 45% of eBay’s purchases go through PayPal. An estimated $7000 gets transacted every second of every day via PayPal.

Why Is PayPal So Popular?

Read full details below:

http://naijabankingblog.com

Many people find it difficult to use their debit card on POS rather they prefer to go to the ATM machine withdraw the cash before going to make a purchase. This post will guide you on how to use your card step by step without stress and without collecting change.

visit the link below for the steps on how to make a purchase using your debit card.

http://naijabankingblog.com

The Central Bank of Nigeria on Thursday, February 23, 2017, released a circular on the cashless policy, reintroducing cash charges on deposits and withdrawals nationwide. The Cashless Policy which took off as a pilot in Lagos in 2012 and proven to have been successful, was extended to six other States of Kano, Rivers, Anambra, Abia, Ogun, and Abuja – the Federal Capital Territory in 2013.

The scope of the new Cashless Policy.

To read more details of the cashless policy visit the link below:

http://naijabankingblog.com

To start with this cards are all payment network card transaction that connects you to the merchant and your bank but they have differences as to how the transaction is been carried out on the card.


VERVE CARD: This is a Nigerian made a card for market transaction online and also perform cash transaction on ATM,s as well as POS, WEB, MOBILE, all connected to the interswitch network. You can also pay for your PHCN, AIRTIME, QUICKTELLER platform which attracts N100 as the transaction fee.
To views full details of differences, visit the link below:

http://naijabankingblog.com

What is ATM dispense error: This is a scenario where the ATM machine debit (remove money from) your account without physical cash.
As we are fast approaching the cashless era, many banks and account holders embrace the use of card more than ever that is why ATM errors come into this stage.

Causes of ATM withdrawal dispense errors
To view full information and how to handle this issues visit the link below:

http://naijabankingblog.com

A security token sometimes called an authentication token is a small hardware device that the owner carries to authorize access to a network service. The device may be in the form of a smart card or may be embedded in a commonly used object such as a key fob. Security tokens provide an extra level of assurance through a method known as two-factor authentication the user has a personal identification number PIN, which authorizes them as the owner of that particular device; the device then displays a number which uniquely identifies the user to the service, allowing them to log in. The identification number for each user is changed frequently, usually every five minutes or so.
To view full details visit the link below:

http://naijabankingblog.com

This is the word used by 90% of Nigerians because of lag of information or banking words. It is called trapped card or you just walk into the banking hall and meet with the customer care officer to complain about the card don’t say ATM swallow my card but ATM trapped my card kindly assist.

Reasons why ATM will trap your card.
To view the full details, click below:

http://naijabankingblog.com/