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You are probably already aware that a few weeks ago, all the major banks in Nigeria stopped or ended international transfers and payments. This means that from now on, you will not be able to make Paypal payments, buy apps on Google Play store, pay for facebook or twitter ads, buy stuff on international stores like Amazon and Ebay using your Visa card or Mastercard.

Some banks however, like GTBank, only reduced the monthly spending limits and didn't completely stop foreign transfer. The international spending limits on GTBank naira mastercards are as follows:

US Dollar = $100 per month
Pound = £90 per month
Euro = €130 per month
Canadian Dollars = $130 per month


The point of this post is to clear the misconception that you can not make international transactions anymore or that your amazon shopping days are over. No. You can still make international payments, but you must pay in that foreign currency, not naira.

For emphasis, this is the email Guarantee Trust Bank sent to its customers:

Dear Valued Customer,
This is to inform you that the international spending limit on your Naira Mastercard has been reviewed downwards and ATM withdrawal is restricted abroad.
Obtain a GTBank Dollar Card to enjoy spending without limit.


The difference between a Naira Mastercard and a Dollar Mastercard is that if you were making an international payment online, your Naira mastercard would send the naira equivalent of the amount you were paying after the receiver has made the conversion. But a dollar mastercard would pay the bill in that foreign currency straight up, no conversions.

Banks are only trying to avoid these conversions because you don't get billed for foreign transactions until after a few days, and since the Naira/USD rate has become unpredictable, the rate can go up between the transaction date and the date the bank debits your account, which would make them lose money.

In summary, Naira Mastercards actually send payments in Naira (after the biller has made conversion. This has a limit of $100 for GTB), while Dollar Mastercards send payment in dollars (no limit).

To make international payments without limit, all you have to do is to make sure your payment is sending in the requested foreign currency and not naira. You can achieve this by either getting a foreign currency Mastercard from your bank OR by making your Naira card behave like a Dollar card. Read on to find out how.


If you are unable to get a foreign currency credit card from your bank, all you have to do is to check with your biller to see if they have a setting that would prevent them from converting the bill to Naira before requesting the money from your account.

Paypal has a setting called Dynamic Currency Conversion (DCC). If you disable this setting, all your payments would start working again (NO LIMITS). Since almost all international stores and services use Paypal, you can just make it your primary payment channel. For example, if you wanted to order for something from Amazon, entering your card details directly on Amazon might not work, but paying through Paypal would work as long as you have disabled the Dynamic Currency Conversion setting.

To disable DCC on PayPal, follow thsi procedure:


All your PayPal payments should start working again after you do that.


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This has indeed been handy. Thanks for this nice piece of information.
(sirphil)
Thks to all GTBank,i give u the good does of ur level of coversation and elaboration,among all the bank in Nigeria "GTBank was the best' interm enlightment & educative park on local and internation transation.I Engineer AGADA JOHN we creat time to open an account internation mastercard' to able to buying or shopping online.Thks,plus to u all at gtb.From:2348038162030/2348059852072. 
08038162030



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