Fidelity Bank Raises International Spend Limit on it's Naira Card

Due to the current improvement in the dollar liquidity in the economy, Fidelity bank has also reviewed its own limit on foreign transactions on debit card to $1000 in a month. This makes it the fourth bank after Ecobank, Gtbank and UBA.

It's no more news that there has been a great improvement in the dollar/foreign exchange liquidity in the banking system and this has positively affected the economy in general. 

Now most banks are now lifting the restriction and limitation on their naira debit card to ease the stress customers go through in sorting for foreign currencies and also to encourage investors.

According to a statement by Fidelity Bank Chief Executive Officer, Nnamdi Okonkwo, he said.

“We are pleased to remove the restrictions on International transactions on Fidelity Visa Naira Credit and Debit Cards. It was important for us to take advantage of the slight ease in sourcing foreign exchange to do this in order meet with the yearnings of our teeming customers,”

Specifically, the bank in a message to customers said international transactions on Fidelity Visa Naira Credit and Debit Cards will be subject to the following limits: “Visa Naira Debit Cards (POS/Web only) equivalent of $1000 only; Visa Naira Credit Cards (ATM/POS/Web) equivalent of $1,000 only.”

Note that there is actually no general rate for all banks and I actually can't tell you their current rate, but I will let you know once I get it.