Wema Bank Sets $500 Monthly Limit on International Spending via Naira Cards

Wema Bank has recently informed its customers that it has introduced a monthly limit of $500 for international spending conducted through its naira cards, according to a note sent out on Friday.

In the previous year, several commercial banks in Nigeria had prohibited the use of naira cards for international cash withdrawals, web transactions, and point-of-sale (POS) purchases. This move posed challenges for Nigerians who frequently shop from online platforms such as Amazon, as they were no longer able to make payments with their naira cards.

However, in the notice, Wema Bank announced that its customers can now enjoy seamless transactions and utilize their naira cards for international purchases once again.

“You can now use your Naira cards, including Mastercard, ALAT Mastercard, and Visa, for international spending. For your international transactions, you can enjoy up to $500 per month,” the notice reads.

The Naira card allows you the freedom to make international purchases, explore international online stores, and buy from your favourite international brands. You know what?The world is now at your fingertips!

“Monthly Limit: To provide you with enhanced security and control, there is a $500 monthly spending limit for international transactions. This allows you to manage your expenses responsibly while enjoying the benefits of international spending.

“Effortless Convenience: Your Naira card gives you the convenience of making payments in foreign currencies, eliminating the need for currency conversion or carrying excess cash. It’s a hassle-free and secure way to shop and transact abroad.”

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