The ban on using naira cards for foreign transactions has been lifted by Wema Bank.
The financial company informed its clients on Friday that it had set a $500 monthly cap on purchases made abroad using its naira cards.
The use of naira cards for overseas cash withdrawals, including web and point-of-sale (POS) transactions, was outlawed by many commercial banks in the nation last year.
Nigerians who shop at online retailers like Amazon now find it more difficult to make purchases because they can no longer use their naira cards.
The memo statement reads;
Want To Enjoy Seamless Transactions Worldwide? Your Naira Card Is Now Your Global Passport!
It’s time to enjoy seamless transactions and make purchases internationally. You can now use your Naira cards, including Mastercard, ALAT Mastercard, and Visa, for international spending. For your international transactions, you can enjoy up to $500 per month.
Here’s what you need to know:
• Expanded Possibilities: The Naira card allows you the freedom to make international purchases, explore international online stores, and buy from your favourite international brands. You know what? The world is now at your fingertips!
• Monthly Limit: To provide you with enhanced security and control, there is a $500 monthly spending limit for international transactions. This allows you to manage your expenses responsibly while enjoying the benefits of international spending.
• Effortless Convenience: Your Naira card gives you the convenience of making payments in foreign currencies, eliminating the need for currency conversion or carrying excess cash. It’s a hassle-free and secure way to shop and transact abroad.
Whether you’re planning a vacation or shopping online, your Naira card is ready to accompany you every step of the way.