Thursday, 20 October 2016

6 Banks That You Can No Longer Use Their Naira MasterCard Online For Foreign Transactions


Still in the bid to force bank customers to start acquiring foreign currency dominated ATM cards for their international transactions, some commercial banks operating in the country have finally put a complete suspension on the usage of their Naira MasterCard for international transactions.

And what that entails is that aside from being unable to use their Naira MasterCard/VISA cards while abroad both on POS and ATM withdrawals, they will also no longer be able to use their cards for online foreign transactions even if they are doing so from Nigeria.

MUST READ: How To Easily Activate Your ATM Card For Online Quickteller Transactions

No doubt that this move is going to affect customers of those banks card holders negatively, especially those who still rely on their Naira dominated cards for foreign online transactions.

The 6 banks affected and that have just issued statement as regards to that include;

1. United Bank for Africa (UBA)
2. Access Bank
3. Unity Bank
4. Eco Bank
5. Diamond Bank 
6. Stanbic IBTC Bank

While the Naira card suspension on international transactions by the banks listed above from 1 to 5 have already taken effect that of Stanbic IBTC is scheduled to take effect starting on the 18th of this month.

ALSO READ: How to Buy Airtime/Credit Directly From Your Bank Account

So what the whole thing now mean, is that for you to continue carrying out your international transactions seamlessly, you now need to get for yourself foreign currency dominated MasterCard/VISA cards from those banks.

While in other news, some of the banks like GTBank, FCMB etc. that did not completely suspended their Naira cards for international transactions have to limit the monthly allowable transactions on the MaterCard/VISA card from $250 now to a meagre $100.

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About Author

Engineer Alex is a part time blogger and tech geek from Nigeria. Apart from blogging he is a student. He loves to write about technology, blogging, SEO, Internet Marketing, Make Money online, Social Media, Android, Windows and other interesting topics likes technology solutions. He is Founder of KraftyShare blog and He love to share what he knows.


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