In a welcome change for consumers and businesses in Nigeria, seven banks in Nigeria have now restored international dollar payments using Naira-denominated debit cards. After almost three years of restrictions, these seven banks have revived the option for users to now perform foreign purchases and subscriptions directly, without the need of a domiciliary account or a form of virtual card. Below is a review of what each bank provides.
Providus Bank
Leading the way, Providus Bank is offering up to $3,000/month in international spending through their premium Naira debit cards. This is among the most generous limits available today.
GTBank
GTBank allows users to spend $1,000 every quarter, inclusive of $500 for overseas ATM withdrawals. This offer provides flexibility for both online payment as well as cash withdrawal while abroad.
UBA
UBA customers with premium cards (Gold, Platinum, World) are now able to spend $1,000 each quarter on international transactions.
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Stanbic IBTC
Stanbic IBTC has reinstated international access with a $500 monthly limit for cardholders, sufficient for moderate online spending requirements.
OPay
The fintech leader is introducing a Naira card valid for usage when buying from AliExpress, Temu and other international merchants which is perfect for the tech-savvy shopper.
First Bank
First Bank has gotten with the trend and now offers $500 per month in dollar spending which is perfect for international subscriptions like Netflix or Spotify.
Wema Bank
Wema Bank now offers the ability to spend $500 monthly and in dollars for purchases made using a Naira card, providing additional options to the digital users in Nigeria.
