Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Thursday, May 22
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Banking»Standard Chartered Bank Suspends Int’l Transactions on Naira Debit Card as from August 1
    STANDARD CHARTERED PARTNERS INVEST AFRICA TO DRIVE THE GROWTH OF ITS PRIVATE BANKING SERVICES ACROSS AFRICA

    Standard Chartered Bank Suspends Int’l Transactions on Naira Debit Card as from August 1

    0
    By Staff Writer on July 25, 2022 Banking

    Standard Chartered Bank in Nigeria has issued a statement notifying its customers that International transactions on the Naira Debit card will be suspended as from August 1, 2022.

    According to the bank in its statement,

    “Kindly be informed that effective August 1, 2022, International spend on our Naira Visa Debit Card will be suspended,” the statement reads. International spend limit on our Standard Chartered Bank Credit Card however remains at $1,000 monthly and Foreign Currency Debit Card limits remain unchanged.”

    “Thank you for banking with Standard Chartered Bank. As always, we remain committed to providing you best-in-class financial solutions.”

    Though it did not give any reason for this development, it is likely due to the foreign exchange scarcity in the country. In recent times, other banks have reduced the spending limit on the Naira Debit card.

    In a bid to reduce demand for foreign currencies, especially the US Dollar, the Central bank of Nigeria has reduced the amount of foreign exchange made available to banks and Bureau de Change (BDC) operators.

    This has been an ongoing issue since 2020 as banks have been struggling with the growing demand for Forex and the shortage of supply in the country.

    Nigerian banks have had to promote their Dollar cards where you have to provide the dollars into your account as an alternative.

    Related

    Banks foreign exchange Naira debit card
    Share. Facebook Twitter Pinterest LinkedIn Email
    Staff Writer
    • Website

    I am a staff at Innovation Village.

    Related Posts

    Everything You Need to Know About NRBVN for Diaspora Nigerians

    C-One Ventures set to Acquire Bankly

    How Phones and Apps Are Turning Offices (such as Access Bank, Oniru) Into Danger Zones

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.