GTBank slashes International Transaction Limits on Naira Cards

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Guaranty Trust Bank (GTBank) has introduced new transaction limits on its naira cards for international transactions. According to an email sent to customers, the bank has set a quarterly limit of $1,000 for international transactions, with ATM withdrawals abroad capped at $500 per quarter.

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The bank explained that the quarterly limit covers all transactions, including “ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria and more.” GTBank customers with naira cards will now have to adhere to these limits for their international transactions.

This development comes after Wema Bank and United Bank for Africa (UBA) recently announced the resumption of foreign transactions on their naira cards. UBA stated that the resumption aligns with its commitment to providing “seamless and enhanced banking experiences” to its customers.

“We are pleased to inform you that all UBA premium naira cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” UBA said in a notification to customers. “This means you can now use your premium naira card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility.

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