United Bank for Africa (UBA) has informed their Nigerian customers that the limit on the Naira Card has been reduced to $20/month from $100/month.
This is according to mail sent to customers seen by Nairametrics. This new policy is set to take effect on the 1st of March, 2022.
The Naira card will not complete international POS and ATM transactions. This means customers can only perform ATM cash withdrawals and purchases/payments via POS terminals only locally.
What the bank is saying
The email read, “In line with our promise to keep you updated on services, we have reviewed Naira Card limits for international transactions and this will take effect 1st of March, 2022.”
The Bank reminded customers that UBA Dollar, Pounds or Euro Card to facilitate international payment. The massage reads, “Remember you can use your UBA Dollar, Pounds or Euro Card for international POS, ATM and web transactions. If you do not have one and would like to subscribe, please visit a branch close to you.”
In case you missed it
Nairametrics report that Some Nigerian banks have published the names, Bank Verification Numbers (BVN) and account numbers of customers who have accessed foreign exchange under false pretence and failed to return it.
United Bank for Africa published the names of three customers that have not satisfied the regulator conditions for obtaining foreign exchange at the CBN official rate.