Guaranty trust bank sent out email and text messages to all its subscribers this morning (September 10 2018) to notify them of changes that has been made to the international spending limit on their Gtbank naira mastercard.
This limit was initially placed couple of months following the continuous dropping in value of the naira against all other foreign currencies (especially the dollar) in 2016 to prevent further lost of value.
GTB wasn’t the only bank that placed the limitations. Since it was a directive from the Central Bank of Nigeria (CBN), all banks in nigeria had to.
However, after things started getting better in late 2017, banks started lifting this limitation little by little and we hope before this time next year, it will be entirely lifted.
Gtbank Naira MasterCard International Spending Limit.
It was a disaster for Nigerians abroad when the commercial banks in Nigeria implemented this CBN directive. They find it difficult to pay for services rendered to them even though they have funds in their bank account.
Which means high exchange rate of dollar to naira wasn’t the only problem citizens outside the country faced.
But since the rate has been stable for months now, i think banks felt it is unnecessary to continue making life harder for fellow country people overseas. Hence, the recent update made to the spending limit.
You can now withdraw up to 300 US Dollars at ATMs abroad and up to $3000 monthly. There will be a service charge of 1200 Naira per withdrawal.
Online and POS transaction is free of transaction charges with a monthly limit of 3000 dollars.
Gtbank International Spending Limits & Charges
|Withdrawals at ATMs Outside Nigeria||300 US Dollars Daily|
|Charges||1,200 Naira on Each Withdrawals|
|POS and Online Transactions||$3000|
|Charges||Free for POS and Online Transactions|
Kindly share this article to inform someone of the recent update to gtbank international spending on Naira mastercard.