Guaranty Trust Bank Plc has announced a new spending limit on its Naira MasterCard outside Nigeria. This development is coming shortly after the bank review the international spending limits its Naira MasterCard which see an increase in monthly spending limit from $1000 to $3000 for online and POS transactions.
The new spending limit, according to GTB, affects international cash withdrawals via Automated Teller Machines and international payments via Point Of Sale and online.
According to GTB, Naira Mastercard can now be used in abroad for a cash withdrawal but it has a daily limit of $300 and a monthly limit of $3000 for all transactions including cash withdrawals at ATMs abroad, shopping on foreign websites and POS payments abroad. While online and POS transactions are free, a charge of N1200 applies for every cash withdrawal at an ATM abroad.
The announcement was made by the bank via email messages to its customers on Monday.