First Bank of Nigeria Limited has raised monthly limits on international transactions on Naira Cards to $1,100 across Automated Teller Machines (ATM), Point of Sale (PoS), and online channels, with the daily ATM withdrawals raised to $300.
The gesture, the lender said, was in line with its drive to promote convenience and ease of business for customers. It said customers can now enjoy increased access to funds using the FirstBank Naira Master Cards, Naira Prepaid and Naira Credit Cards for International payments. However, customers in United Arab Emirates and China have a monthly limit of $250 for PoS and Online transactions.
The new international spend limits is coming on the heels of increased availability of foreign exchange in the economy.