GTBank Raises Spending Limit on Naira MasterCard for Int’l Transactions to $3000

By Dipo Olowookere

One of the leading financial institutions in Africa, Guaranty Trust Bank (GTBank) Plc, has announced the upward review of spending limit on its Naira dominated MasterCard card.

The bank, in a notice sent to its customers on Friday, July 6, 2018, disclosed that it has raised the monthly spending limit on its GTBank Naira MasterCard card to $3000 from $1000.

In the e-mailed notice, which was obtained by Business Post, the lender emphasised that the upward review was only for “international online and POS transactions.”

However, GTBank noted in the statement that the “international ATM cash withdrawal is still restricted.”

The GTBank Naira MasterCard card is a Naira denominated debit card issued in partnership with MasterCard Worldwide. It is denominated in Naira, but can also be used to settle purchases via POS terminals and online in other major currencies.

It is accepted in Nigeria and abroad. The GTBank Naira MasterCard card is linked online, real-time to holder’s current or savings account; all transactions done using this card are reflected on the account instantly.