Wema Bank, one of Nigeria's commercial banks, has decided to lift the suspension that had been imposed on international transactions carried out with naira cards. Previously, all banks in Nigeria had prohibited the use of naira cards for international cash withdrawals, online transactions, and point-of-sale purchases, effectively limiting customers' ability to make payments or access cash abroad.
Wema Bank, however, has now notified its customers via email that the suspension on international transactions using naira cards has been lifted. This development allows customers to freely engage in global transactions and make purchases using their Naira cards, including Mastercard, ALAT Mastercard, and Visa. The bank further emphasized that its customers can now enjoy a monthly limit of up to $500 on international transactions using their Naira cards for purchases worldwide.
The email from Wema Bank reads, "It's time to enjoy seamless transactions and make purchases internationally. You can now use your Naira cards, including Mastercard, ALAT Mastercard, and Visa, for international spending." The email also highlighted the convenience of using Naira cards for payments in foreign currencies, eliminating the need for currency conversion or carrying excessive cash. It emphasized that this new development provides customers with a hassle-free and secure way to shop and transact abroad.
Wema Bank's decision to lift the ban on international transactions with naira cards brings relief to its customers who can now enjoy the flexibility and convenience of using their cards for global transactions. It aligns with the evolving needs of customers who engage in international commerce and provides them with greater financial freedom in managing their transactions on a global scale.
