This is ATM gone bad, CBN gone Awire and banks gone A-rugged. 2 days from now, your ATM Master card becomes useless on foreign site and abroad. I don’t know how this policy is going to solve the dollar to naira issue but it getting weird every now and then.
According to CBN, before CBN will start talking of lifting the current restriction placed on ATM card usage abroad and foreign transactions, that the country must build the foreign reserve to the tune of $50billion. At the moment, it is $29billion. That might take a long time before it will be achieve.
I made a transaction this morning and I was charged by GTBank N270.50 per dollar. This is the highest so far and it’s getting worst.
I don’t really know if it will affect PayPal account owners since your account is already verified and it’s linked to your Master card but there are lots of alternative you might want to try out.
Alternatives
Dollar Master Card – Those of you making use of GTBank, and you have a dollar account, you card just walk into any GTBank branch closer to you and demand for Dollar Master Card. As at my last enquiry, it’s goes for $50. With this dollar master card, you can do everything online, foreign site and even withraw in naira using the local atm machine.
Zenith Websurfer Master Card – Websurfer is a moderately good brand of MasterCard issued by Zenith Bank. Websufer is not a credit card that you can use to withdraw cash from the ATM machine. It is a low limit card that can only be used on the internet.
Things you will have before going to the bank are:
- One recent pa$$port photo
- Valid National ID Card or otherwise
- At least $150 cash
Walk into any head Zenith bank, meet their customer service and request for a websurfer account opening form.
PaYoneer Master Card – This card is free of charge and anybody who live in a house, has a smartphone and browse the internet can simply order for this card abroad for free. It will be deliver to your location maximum 3weeks so long its not in Sambisa Forest.
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