The Street Journal
Guaranty Trust Bank Plc (GTB), on Friday, December 30, joined a growing list of commercial banks in Nigeria to suspend international transactions of their naira-denominated mastercard.
According to the bank, this suspension will come into effect from December 31, 2022, as the bank will no longer support international online and Point of Sale (POS) transactions on such cards, The Punch reports.
The bank however stated that its dollar cards will still be supporting international transactions.
GTBank, in a letter, said that, “Dear customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS transactions effective from December 31, 2022.
“Kindly note that you can use your GTBank dollar card for all your international spending requirements.”
The bank added that its dollar card allows ATM withdrawal of $1,000 daily or the equivalent in the transaction’s local currency and has no limit to international PoS or online transactions.
Recall that the Standard Chartered Bank, in July, announced that it has suspended international transactions on its naira visa debit card.
It said that, “Kindly be informed that effective from August 1, 2022, International spend on our Naira visa debit card will be suspended.
“International spending limit on the Standard Chartered Bank credit card however remains at $1,000 monthly and foreign currency debit card limits remain unchanged.”
