In a move that brings relief to many Nigerians, Wema Bank has announced the lifting of the suspension on international transactions using naira cards.
The financial institution revealed that customers can now enjoy seamless transactions and make international purchases using their naira cards, albeit with a monthly spending limit of $500.
The decision to prohibit the use of naira cards for international cash withdrawals and online transactions was implemented by several commercial banks in the country last year.
This move left Nigerians who frequently shop from online stores such as Amazon unable to pay with their naira cards, further exacerbating their plight.
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However, with Wema Bank’s recent notice to customers, the prospects of international spending using naira cards have brightened once again.
The notice read, “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.”