Banking and Finance 30/12/2022
GTBank Suspends International Transactions on Naira Mastercards
Customers of Guaranty Trust Bank will no longer be able to carry out any international transaction on their naira-denominated ATM card.
This came as the bank announced the suspension of international online and PoS transactions on naira Mastercard effective from December 31, 2022.
With this development, customers of the bank are required to obtain dollar cards for all their international transactions.
While the bank did not give any reason for this action, GTBank in a letter to its customers on Thursday wrote:
“Dear Customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS transactions effective 31st December 2022. Kindly note that you can use your GTBank dollar card for all your international spending requirements.”
According to the bank, the dollar card allows ATM Withdrawal of $1,000 daily or the equivalent in the transaction’s local currency. It added that with the dollar card, there is no limit to international PoS or online transactions. There will also be no annual spending limit.
