Wema Bank lifts suspension on international transactions using naira card, sets $500 limit
The ban on international transactions using naira cards has been lifted by Wema Bank.
The financial institution informed its clients on Friday that it had set a $500 monthly cap on transactions using its naira cards for international purchases.
Numerous commercial banks in the nation banned the use of naira cards for web and point-of-sale (POS) transactions for overseas cash withdrawals last year.
Nigerians who buy online at Amazon and other retailers were made even more miserable by the move because they could no longer use their naira cards to make purchases.
Wema Bank stated in the notification that customers can now take advantage of frictionless transactions and make purchases worldwide using their naira cards.
“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,” the notice reads.
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