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UBA Sets International Spending Limit To $20 Per Month - Business (7) - Nairaland

Nairaland Forum / Nairaland / General / Business / UBA Sets International Spending Limit To $20 Per Month (31569 Views)

Banks Raise ATM Cash Withdrawal Limit To ₦‎200,000 / CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly / CBN Drops ATM Withdrawal Limit To N20k/Day (2) (3) (4)

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Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 9:20am On Feb 26, 2022
warrenweste:



Are you saying Access bank has a card of $1000 Limit?
it has been reduced to $1k. It was $2k initially.

Yes they have $1k limit sir
Re: UBA Sets International Spending Limit To $20 Per Month by ChybuzzDD(m): 10:56am On Feb 26, 2022
Dialpad:
Look at another lunatic making attempts to appear smart but you have just displayed stu-pidity

My simple argument is that yahoo boys have nothing to do with UBA's decision.

Now you are here to prove your ignorance to the world again.



Idiot, now that you have been schooled, go back and correct the falsehood you posted previously.
Re: UBA Sets International Spending Limit To $20 Per Month by EmmanuelScott1(m): 10:57am On Feb 26, 2022
iLegendd:
No-go-area. Sorry about that, Sir.

okay sir, abeg if u get another update, try share to me, I dey begoo
Re: UBA Sets International Spending Limit To $20 Per Month by Dialpad: 10:59am On Feb 26, 2022
Do you wake up in the morning calling your mom an imbe-cile while playing with her pu-ssy

Stupid little boy who thinks because of the anonymity of the internet he can insult his parents



ChybuzzDD:


Idiot, now that you have been schooled, go back and correct the falsehood you posted previously.
Re: UBA Sets International Spending Limit To $20 Per Month by ChybuzzDD(m): 11:04am On Feb 26, 2022
Dialpad:
Do you wake up in the morning calling your mom an imbe-cile while playing with her pu-ssy

Stupid little boy who thinks because of the anonymity of the internet he can insult his parents




You're a fool to think that a man approaching 40 is a boy.
Bloody Yahoo boy! You will soon be caught and exterminated.
Re: UBA Sets International Spending Limit To $20 Per Month by Dialpad: 11:15am On Feb 26, 2022
Have you not heard of complete idiots that are over 40.

You have successfully exhibited another aspect of your stup-idity .

Me .... Yahoo.... lol ... continue sucking your thumb while playing with your belly button


ChybuzzDD:


You're a fool to think that a man approaching 40 is a boy.
Bloody Yahoo boy! You will soon be caught and exterminated.
Re: UBA Sets International Spending Limit To $20 Per Month by aujile(m): 12:03pm On Feb 26, 2022
You are wrong bro. Punishing the rest of legit online business nigerians is never the way to cub fraudulent transactions. This is just nigerian government bent on crippling businesses. You have a clueless cbn governor who is a puppet to a clueless oga at the top
Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide
Re: UBA Sets International Spending Limit To $20 Per Month by AJohnnasa(m): 4:00pm On Feb 26, 2022
ngwababe:


AJohnnasa

What's their reason for such drop in spending limit?
Re: UBA Sets International Spending Limit To $20 Per Month by dochenaj: 5:18pm On Feb 26, 2022
Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide
Limitations are implemented because the dollar is scarce and demand for it far outweighs the supply. Fraudulent activities like Yahoo crimes rather get a supply of dollars. So if there is anything the Yahoo frauds improve the value of Naira. Does that justify Yahoo fraud? "Hell! No".

Yes, you might be correct about the Paypal issue. As to operate in Nigeria, Paypal might be inundated with multiple fraud reports and claims for fund reversals and that might be too much for them to handle. But don't confuse this with banks limiting foreign currency use on your Naira domiciled card.

1 Like

Re: UBA Sets International Spending Limit To $20 Per Month by dochenaj: 5:24pm On Feb 26, 2022
Born2conquer:
20$? UBA should come out straight if they're not interested in international transactions.

Its funny how official financial institutions can't provide USD but black markets can provide as much as 20k$ daily.

Guess the people supplying the black markets?
CBN and Emefiele is the most useless governor there could ever be.
CBN sells to BDC's, and BDC's hoards the dollars inflate the demand supply ration and what do we get, a daily devaluation of the Naira. I fear that before the year ends $1 might cost for as much as 1000 Naira in the black market.
Re: UBA Sets International Spending Limit To $20 Per Month by EmoleOgala(m): 5:28pm On Feb 26, 2022
Doesn't make sense.
Ammishaddai:
Fraudulent activities and illegal money laundering schemes. That's why PayPal and other payment methods don't operate in Nigeria anymore. It's also one of the reasons why your spending is limited on International transactions with all banks nationwide
Re: UBA Sets International Spending Limit To $20 Per Month by peacealways: 11:07pm On Feb 26, 2022
Ok
Re: UBA Sets International Spending Limit To $20 Per Month by warrenweste(m): 3:04am On Feb 27, 2022
Pierocash:
it has been reduced to $1k. It was $2k initially.

Yes they have $1k limit sir

What's the name of the card pls and requirements to get it
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 7:20am On Feb 27, 2022
warrenweste:


What's the name of the card pls and requirements to get it
the yearly subscription fee is 70k
Re: UBA Sets International Spending Limit To $20 Per Month by Nobody: 7:46am On Feb 27, 2022
Pierocash:
the yearly subscription fee is 70k
OK but what rate are they charging per dollar
Re: UBA Sets International Spending Limit To $20 Per Month by warrenweste(m): 11:26am On Feb 27, 2022
Pierocash:
the yearly subscription fee is 70k


Oops that's on the high side

do you know the current Naira to dollar rate on the card?
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 11:53am On Feb 27, 2022
jackslow:
OK but what rate are they charging per dollar
it was 470 before. It is now #490 to a Dollar
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 11:53am On Feb 27, 2022
warrenweste:



Oops that's on the high side

do you know the current Naira to dollar rate on the card?
it was 470 before. It is now #490 to a Dollar

1 Like

Re: UBA Sets International Spending Limit To $20 Per Month by warrenweste(m): 2:28pm On Feb 27, 2022
Pierocash:
it was 470 before. It is now #490 to a Dollar

Still good, thanks for the info
Re: UBA Sets International Spending Limit To $20 Per Month by VanuatuWycombe: 8:34pm On Feb 27, 2022
This monetary measure is being used, BROADLY, for three things:
1. To curtail money laundering ( I can elaborate more later).

2. Illegal trading in foreign currencies and making huge profit, with little effort. Every Nigerian is a potential millionaire if you know how to use your VC and MC. Lot’s of people we wonder where they make their money do this but they won’t tell you. Ask me and I may be able explain (in private).

3. To reduce pressure on Naira and prevent it from further devaluation, since Nigeria imports more than 80% of its needs and the country is not earning much dollar to pump into circulation. The little the CBN pumps into circulation is being circumvented by bankers and Abokis (through under arm dealings).


Most Nigerians are deceitful. We are not sincere and loyal to our country and I wonder whether this can stop.
Re: UBA Sets International Spending Limit To $20 Per Month by Dialpad: 9:28pm On Feb 27, 2022
Can you explain what you mean in point 2.

VanuatuWycombe:
This monetary measure is being used, BROADLY, for three things:
1. To curtail money laundering ( I can elaborate more later).

2. Illegal trading in foreign currencies and making huge profit, with little effort. Every Nigerian is a potential millionaire if you know how to use your VC and MC. Lot’s of people we wonder where they make their money do this but they won’t tell you. Ask me and I will explain.

3. To reduce pressure on Naira and prevent it from further devaluation, since Nigeria imports more than 80% of its needs and the country is not earning much dollar to pump into circulation. The little the CBN pumps into circulation is being circumvented by bankers and Abokis (through under arm dealings).


Most Nigerians are deceitful. We are not sincere and loyal to our country and I wonder whether this can stop.
Re: UBA Sets International Spending Limit To $20 Per Month by jolyment: 12:21am On Mar 03, 2022
iykepromotions:
Best is to open domiciliary account if you don't have and get their dollar card. Gtbank limit is still $200 though.

Can I fund domiciliary account with naira?
Re: UBA Sets International Spending Limit To $20 Per Month by alakara(m): 10:39am On Mar 05, 2022
VanuatuWycombe:
This monetary measure is being used, BROADLY, for three things:
1. To curtail money laundering ( I can elaborate more later).

2. Illegal trading in foreign currencies and making huge profit, with little effort. Every Nigerian is a potential millionaire if you know how to use your VC and MC. Lot’s of people we wonder where they make their money do this but they won’t tell you. Ask me and I will explain.

3. To reduce pressure on Naira and prevent it from further devaluation, since Nigeria imports more than 80% of its needs and the country is not earning much dollar to pump into circulation. The little the CBN pumps into circulation is being circumvented by bankers and Abokis (through under arm dealings).


Most Nigerians are deceitful. We are not sincere and loyal to our country and I wonder whether this can stop.


Can you explain nos 2 further.
Re: UBA Sets International Spending Limit To $20 Per Month by Slippy: 11:12am On Mar 07, 2022
Pierocash:
stop delving into what you lack knowledge of.

Yahoo boys aren't the reason. The reason is simply because CBN has come out with policy of no more selling fx to bank. The cbn governor told banks to go source for their own forex any way they can,that CBN will no longer support bank with forex, after all,it is their bread and butter.

So for this reason,access bank cut down their international spend limit from $300 to $100, exclusive card from $500 to $200 for monthly subscription,$1000 from $2000. Increased their dollar rate from 470 to 490 ,and other Banks like uba and eco bank followed suit . More banks will follow too. All is to boost their fx reserve against the time the cbn directive will take effect.

Stop spewing gibberish.

I use PayPal both local and 2 foreign PayPal Account.


Pls which bank cards work with paypal?
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 12:49pm On Mar 07, 2022
Slippy:


Pls which bank cards work with paypal?
I can't post that here
Re: UBA Sets International Spending Limit To $20 Per Month by Slippy: 4:22pm On Mar 07, 2022
Pierocash:
I can't post that here

I just need card that works to pay for my subs. Ok can I dm you pls
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 4:36pm On Mar 07, 2022
Slippy:


I just need card that works to pay for my subs. Ok can I dm you pls
send me mail

1 Like

Re: UBA Sets International Spending Limit To $20 Per Month by Slippy: 7:44pm On Mar 07, 2022
Pierocash:
send me mail


done
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 8:04pm On Mar 07, 2022
Slippy:


done
I've replied ur mail
Re: UBA Sets International Spending Limit To $20 Per Month by DropsMic(m): 11:21pm On Mar 22, 2022
Ammishaddai:
[s][/s] You're just talking through your anus. There are countries with worse economies yet they still retain alternative pay systems that allow citizens spend and make transactions with any foreign currencies as they like . Unlike here where your Yahoo friends have virtually crippled all e-payment platforms like PayPal, Transwise and flutterwave from operating in Nigeria all because of cybercrimes. In fact, wasn't it for this same reason that CBN stopped cryptocurrency from operating in Nigeria ...? Mtchww...continue giving excuses for your Yahoo friends. Your unborn children go hear am . Nonsense


Lol... See economic illiteracy.
Re: UBA Sets International Spending Limit To $20 Per Month by main24(m): 1:13pm On May 11, 2022
Pierocash:
send me mail
I just sent you a mail sir. Would appreciate your reply. Thanks

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