The Central Bank of Nigeria (CBN), for over a few months now has ordered all banks to impose a spending limit on all international transactions. As a result, banks were forced to oblige and informed their customers that they were reducing the spending limit from what it was initially which was $100 per month to $20 or $10 per month. In fact, some banks have completely stopped their naira debit cards from making payments in foreign currencies. The imposed international spending limit has made it difficult to shop on online shopping websites like Aliexpress and so on. While it can be disheartening, there’s a way you can bypass the international spending limit and we will show you how to do that here on NaijaKnowHow.
How to Bypass International Spending Limit in Nigeria
Bypassing international spending limit isn’t something hard and thanks to digital banks and also dollar accounts, you’ll be able to shop more online. We’ve provided 3 easy methods by which you can bypass the international spending limit in Nigeria, so check them below.
Method 1: Using Chipper USD Virtual Card
Chipper USD Virtual Card offers one of the best ways you can free yourself from the imposed international spending limit in Nigeria. This card is a pre-funded and reloadable virtual card that you can use to sort any form of transaction. It’s a card that is accepted locally and internationally, even streaming platforms like Netflix and app stores like Google Play Store accept this card. Before you can get yourself a Chipper USD Virtual Card, you must be a registered user with a Chipper wallet account. Below are some of the benefits of using a Chipper USD Virtual Card. Benefits of Using Chipper USD Virtual Card:
How To Bypass International Spending Limit With Chipper Virtual Card
If you want to know how to bypass the international spending limit with Chipper USD Virtual Card, kindly follow the simple steps below.
Method 2: Using UBA Dollar Prepaid Card
The UBA Dollar Prepaid Card is one of the best in Nigeria and it offers an easy way for UBA customers to bypass international spending limit in Nigeria by offering dollar payments directly to foreign websites. The prepaid card is accepted anywhere, it can be used on POS and ATM machines and it works on both 2D and 3D Payment Gateways. UBA Dollar Prepaid Card offers a $10,000 monthly spend limit and there’s nothing you want to buy online that this card can’t be used for. Getting yourself a prepaid card from UBA is very easy, you can check the steps required below. Requirements To Apply For UBA Dollar Prepaid Card:
A UBA Account and Bank Identification Number. Utility Bill (Electricity, Water Corporation, e.t.c). Means of identification (NIN, Voters Card, International Passport) N2000 for card activation (will be converted to USD)
How To Bypass International Spending Limit With UBA Dollar Prepaid Card
If you want to know how to bypass the international spending limit with a prepaid dollar card from UBA, follow the steps below.
Method 3: Using A Domiciliary Account & Card
This option is one of the best and highly recommended ways to bypass international spending limit in Nigeria. It’s just like using a naira account to make payments but instead, you’ll be using currencies like USD, EUR, GBP and so on to make payments. When you have a Domiciliary Account, you’ll be able to get a card as well, this can be a Dollar Card or EUR, depending on the currency you selected when opening the dom account.
How To Bypass International Spending Limit With A Domiciliary Account.
To bypass the international spending limit with a domiciliary account, follow the steps below.
What Is the International Spending Limit in Nigeria?
The monthly card International Spend Limit for web transactions has been reviewed from $100 to $20 which was effective from March 2022. This means if your making payment internationally with your Nigerian ATM card, you can only spend up to a maximum amount of 420 in a month.
Do Naira Visa Cards Have a Monthly Spending Limit?
Many Visa Debit cards have monthly international spending limits of up to $20 (or the naira equivalent).
What Is the International Spending Limit on the Naira MasterCard?
The Naira MasterCard or Visa Card both have a monthly international spending limit of $20.
How to Bypass the CBN dollar limit?
To bypass the CBN-regulated dollar limit, you have to follow this detailed tutorial on How To Open A Dollar Domiciliary Account for all banks in Nigeria.
Conclusion:
That’s all on bypassing the international spending limits imposed on Naira cards. With the methods that have been provided above, you can now shop online without limits. Don’t forget to leave a comment below if you have any questions.
How to Borrow Money from PalmPay (Loan From PalmPay) How to Fund Your Domiciliary Account in Nigeria (Best Method) Paystack vs Flutterwave: Best For Online Payments?
