United Bank for Africa (UBA) Plc on Wednesday announced an immediate upward review of the monthly international spend limit on its debit and prepaid naira cards from $100 to $2,000.
The upward review, which represents a marked increase by 1,900 per cent, allows customers to withdraw up to $2,000 per month as against $100 which was obtainable previously.
This, the bank said, has been done in response to the growing demand for higher limits by customers who make international transactions. It is also an indication of the improved confidence in the Nigerian economy as shown by increased foreign exchange in the financial system.
Executive Director, Operations & Technology, UBA, Chukwuma Nweke, who announced the review, explained that the move is intended to enable more convenient and seamless transactions when making purchases outside the country.
He said, “This is in recognition of the customers’ needs and expectations. The new limit has been implemented.”
According to Mr Nweke, with the significant review, customers will now be able to carry out enhanced cross border transactions priced in foreign currency using their debit, credit cards with improved satisfaction.
“This gives our customers the opportunity to make international payments on POS and Web. In addition, you can make ATM withdrawals subject to the current limit of $100 a day.
“This only goes to show that, customers are at the core of our business and our unalloyed commitment to satisfying them with nothing short of unequalled service is not compromised. We remain focused on creating superior and sustainable service delivery, unique to UBA.”
