Please find attached the disposal instructions for transfer of funds to your account with Guaranty Trust Bank Plc: Important notice: Credits above $10, or its equivalent in 3rd currency are reported to NDLEA & CBN as part of regulatory requirements. Suspicious foreign currency transactions are also reported to both bodies The GTBank Naira MasterCard is a Naira denominated debit card issued in partnership with MasterCard blogger.com is denominated in Naira, but can be used for ATM cash withdrawals and also to settle purchases/payments via POS terminals and Online anywhere in the world Oct 30, · GTBank ATM Transfer Limits Daily Transfer Limit – N5,, Daily Withdrawal Limit – N, ATM Transfer Abroad – $ (N1,)
Naira MasterCard | GTBank
Nigerian banks are sending notices to customers about a reduction in the spending limits for their naira denominated debit cards used for paying for transactions abroad. Most of the messages relate to debit cards powered by Master Card.
READ MORE: Pay-as-you-view: Startimes, gtb forex limit, Multichoice in a tussle for the Nigerian market. Nigerians rely on their debit cards to pay for online transactions that are billed in US dollars. The banks debit their naira account with the prevailing exchange rate. Nigeria is experiencing currency shortages as official forex sales to the BDC segment remain suspended. The gtb forex limit market has been the go-to market for price guidance and transaction for companies looking to sell at a price higher than the official market rate.
What this means: Limits to debit cards have been synonymous with forex scarcity, gtb forex limit, with the being most recent. The lower the forex available to banks, the more difficult it is for them to meet their dollar commitments, particularly for debit card usage. Forex liquidity within the banking sector has been largely impacted by reduction in foreign remittances from Nigerians in diaspora due to the COVID lockdown. Persistent dollar scarcity could lead to further reduction in spending limits, except the CBN intervenes.
Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team, gtb forex limit.
You may contact him via his email- [email protected]. Please sir…I would like to know gtb forex limit the resumption of dollar sales to BDC would increase banks international spending limit. This site uses Akismet to reduce spam. Learn how your comment data is processed, gtb forex limit. Access our Live Feed portal for the latest company earnings as they drop, gtb forex limit. Home Business Financial Services. August 19, gtb forex limit Share on Facebook Share on Twitter.
Tags: Covid Featured forex. Chike Olisah Chike Olisah is a graduate of accountancy with over 15 years working experience gtb forex limit the financial service sector. Comments 1 Raymond says:. Leave a Reply Cancel reply Your email address will not be published. Comment Name Email Website. How to check JAMB UTME results without scratch card and print result slip. FG announces arrest of IPOB Leader, Nnamdi Kanu. JAMB suspends use of USSD code to check UTME results, gives new instruction.
JAMB releases UTME results, withholds some results for further review. Latest Stories. SafeDollar crashes to zero after cyberattack. Court remands IPOB Leader, Nnamdi Kanu in DSS custody.
Nairametrics Company Earnings. T Briscoe Nigeria Plc reports a loss of N Business News Stock Market Money Market Cryptos Financial Literacy SME.
Recent News. Follow us on social media:.
Forex Trading for Beginners #6: The Different Types of Forex Orders by Rayner Teo
, time: 8:26Banks reduce dollar spending limit on naira debit cards to $ | Nairametrics
Aug 18, · One of such notices seen by Nairametrics reads: “Dear Customer effective 16 August , your Naira Mastercard International will be reduced from $ to $ monthly.”. Note that some bank have also reduced their monthly spending limits to as low as $ Nigerians rely on their debit cards to pay for online transactions that are billed in Oct 08, · GTB Has Increased The Dollar Limit On Naira Card To $ by iComplain: am On Oct 08, The Guaranty Trust Bank in Nigeria has increased their monthly dollar limit on Naira card to $ This was conveyed to customers in a message sent to them on the 7th of October, Cc lalasticlala, mynd44, dominique Foreign Currency Transfers (GTMT) The GTBank International Money Transfer (GTMT) is designed to enable both GTBank account holders and non account holders send and receive funds to and from any GTBank subsidiary in West Africa. In line with a directive by the CBN, recipients of funds through GTMT in Nigeria must either be GTBank account holders
No comments:
Post a Comment