Are you looking for ways to bypass the International Spending Limit in Nigeria? If yes, then you’ve arrived at the perfect place to get solutions on banking and finance issues in Nigeria.
The Central Bank of Nigeria (CBN), for over a few months now has ordered all banks to impose a spending limit on all international transactions. As a result, banks were forced to oblige and informed their customers that they were reducing the spending limit from what it was initially which was $100 per month to $20 >> $10 >> $0 per month. In fact, most banks have completely stopped their naira debit cards from making payments in foreign currencies.
The imposed international spending limit has made it difficult to shop on online shopping websites like Aliexpress and so on. While it can be disheartening, there’s a way you can bypass the international spending limit and we will show you how to do that here on NaijaKnowHow.
How to Bypass International Spending Limit in Nigeria
Bypassing international spending limit isn’t something hard and thanks to digital banks and also dollar accounts, you’ll be able to shop more online. We’ve provided 3 easy methods by which you can bypass the international spending limit in Nigeria, so check them below.
Method 1: Using Chipper USD Virtual Card
Chipper USD Virtual Card offers one of the best ways you can free yourself from the imposed international spending limit in Nigeria. This card is a pre-funded and reloadable virtual card that you can use to sort any form of transaction. It’s a card that is accepted locally and internationally, even streaming platforms like Netflix and app stores like Google Play Store accept this card.
Before you can get yourself a Chipper USD Virtual Card, you must be a registered user with a Chipper wallet account. Below are some of the benefits of using a Chipper USD Virtual Card.
Benefits of Using Chipper USD Virtual Card:
- It’s acceptable on popular websites like Netflix, Apple, Spotify, Google, Ali Express, Alibaba, Amazon, Fashion Nova, Shein, etc.
- It has a daily spending limit of $1000.
- It has a monthly spending limit of $5000.
- It can be funded easily and it can be gotten for free.
How To Bypass International Spending Limit With Chipper Virtual Card
If you want to know how to bypass the international spending limit with Chipper USD Virtual Card, kindly follow the simple steps below.
- Download the Chipper Cash app on your Android or iOS device, you can download it by clicking on the Android and iOS links.
- Once the app has been downloaded and installed on your device, launch it and create an account with your Email or Phone Number.
- Fill in the required details like your BVN, Full Name and make sure you verify your KYC to Level 3, you can verify that by uploading documents like your NIN or International Passport.
- Once your documents have been uploaded and you’ve been verified. Launch the Chipper Cash app then click on Cards at the right end of the app home screen, then select USD Virtual Card
- You’ll be asked to enter the name you’ll want to appear on the USD Virtual Card. Enter your name, set your pin and then create your Virtual Card.
- Once your Virtual Card has been created, you can add funds to it and start spending online.
Method 2: Using UBA Dollar Prepaid Card
The UBA Dollar Prepaid Card is one of the best in Nigeria and it offers an easy way for UBA customers to bypass international spending limit in Nigeria by offering dollar payments directly to foreign websites. The prepaid card is accepted anywhere, it can be used on POS and ATM machines and it works on both 2D and 3D Payment Gateways.
UBA Dollar Prepaid Card offers a $10,000 monthly spend limit and there’s nothing you want to buy online that this card can’t be used for. Getting yourself a prepaid card from UBA is very easy, you can check the steps required below.
Requirements To Apply For UBA Dollar Prepaid Card:
- A UBA Account and Bank Identification Number.
- Utility Bill (Electricity, Water Corporation, etc.).
- Means of identification (NIN, Voters Card, International Passport)
- N2000 for card activation (will be converted to USD)
How To Bypass International Spending Limit With UBA Dollar Prepaid Card
If you want to know how to bypass the international spending limit with a prepaid dollar card from UBA, follow the steps below.
- Visit any UBA Branch near you. Then walk up to the counter and request for prepaid card enrollment form.
- Fill in the required details and submit the form with your utility bill and means of identification.
- Once your dollar card is ready, you can fund it by buying USD in the bank and then depositing it to your account, or you buy from a fellow UBA prepaid card user via card-to-card transfer.
- Once your dollar card is ready and funded, you can start making online payments without any spending limit imposed on your transactions.
Method 3: Using A Domiciliary Account & Card
This option is one of the best and highly recommended ways to bypass the international spending limit in Nigeria. It’s just like using a naira account to make payments but instead, you’ll be using currencies like USD, EUR, GBP and so on to make payments. When you have a Domiciliary Account, you’ll be able to get a card as well, this can be a Dollar Card or EUR, depending on the currency you selected when opening the dom account.
How To Bypass International Spending Limit With A Domiciliary Account.
To bypass the international spending limit with a domiciliary account, follow the steps below.
- Visit any bank and request an account opening form, banks like UBA, Zenith Bank, GT Bank, First Bank, Union Bank, and Access Bank offer some of the best domiciliary accounts in Nigeria. Or you check our detailed tutorial on How To Open A Domiciliary Account for all banks in Nigeria and if you want to have just a dollar account alone, here’s a guide on how to Open A Dollar Account Online in Nigeria.
- It’ll take up to 24hrs before your domiciliary account will be created. Once it has been created, you’ll need to request a dollar card.
- Lastly, when all that has been done and completed, you can now start spending online without any limits.
FAQs:
What Is the International Spending Limit in Nigeria?
The monthly card International Spend Limit for web transactions has been reviewed from $100 to $20 which was effective from March 2022. This means if your making payment internationally with your Nigerian ATM card, you can only spend up to a maximum amount of $20 in a month. Currently, most Nigerian banks have completely stopped the use of Naira cards for USD payments.
Do Naira Visa Cards Have a Monthly Spending Limit?
Many Visa Debit cards have $0 monthly international spending limits (or the naira equivalent).
What Is the International Spending Limit on the Naira MasterCard?
The Naira MasterCard or Visa Card both have a monthly international spending limit of $0.00.
How to Bypass the CBN dollar limit?
To bypass the CBN-regulated dollar limit, you have to follow this detailed tutorial on How To Open A Dollar Domiciliary Account for all banks in Nigeria.
Conclusion:
That’s all on bypassing the international spending limits imposed on Naira cards. With the methods that have been provided above, you can now shop online without limits. Don’t forget to leave a comment below if you have any questions.
Thanks for the update
Thanks a lot, your write up saves…….I’m being confused on how to pay since I got the shocker of the 20 dollar limit this week. I av a soln now. Thanks to you