According to a recent broadcast sent by Wema Bank, it has announced that it has lifted its suspension of the international transaction on naira cards.
According to the financial institution, it would be imposing a $500 monthly limit on international transactions performed on its naira cards. This is coming after many commercial banks had blocked the use of its naira cards for international cash transactions including web and point-of-sale (POS) transactions.
This policy has since affected many Nigerians who engaged in online shopping from stores such as Amazon, and Aliexpress as they were no longer able to use their Naira cards to pay online.
Wema Banks addressing its customer announced that they can now enjoy easy and fast transactions on international purchases using their naira cards.
The notice read thus “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,”.
What this means for Nigerians.
Nigerians can now make international purchases freely and buy from all their favorite international brands just with the tap of a few buttons. It also provides enhanced security and control, due to the $500 monthly spending limit for international transactions. Therefore Nigerians can manage their expenses responsibly while enjoying the benefits of making payments in foreign currencies.