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.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Lagos
Police arraign three over alleged theft of N10 million iPhone screens
The court adjourned the case until September 29 for further proceedings.
Lagos
46-year-old man arraigned for allegedly stealing N5.3 million spaghetti
The prosecutor alleged that the defendant stole 305 packs of spaghetti valued at N5.3 million.
Uncategorized
Atiku promises to revive ECOMOG, bring back Niger, Burkina Faso, Mali to ECOWAS
Mr Abubakar vowed to revive the Economic Community of West African States Monitoring Group (ECOMOG), and return Mali, Burkina Faso and Niger to ECOWAS.
Africa
Nigeria, others adopt framework to safeguard Africa’s polio gains
African ministers of health adopted a 10-year plan to sustain polio eradication efforts.
Africa
Ebola: Teachers, parents fear school reopening in eastern DRC
Schools are scheduled to reopen nationwide on September 1, but reopening in Ebola-affected areas will depend on local transmission risks.
World
WHO appoints 21 scientists to shape future health breakthroughs
The council brings together experts from public health, epidemiology, biomedical research, health systems, ageing, engineering, precision medicine and emerging technologies.
