Ecobank opens naira denominated Mastercard for international transactions; increase daily limits


Ecobank Nigeria has announced the availability of its Naira denominated MasterCard for international transactions as well as increased daily limits customers can spend on their cards. With the upwards review daily spending limits currently applicable for customers using its naira MasterCard for international payments on Point of Sale (PoS) and online channels increased from $100 to $1,000 for its platinum card customers. It also set $750 and $300 limits for its gold and standard card holders respectively. In Addition to that they have also enabled $100 daily ATM cash withdrawals on all the card variants

In his comment, Head, Consumer Banking, Tunde Kuponiyi on Tuesday said the bank is conscious of the needs of customers this season and has therefore made provisions to cater for the expected high demands. In his words “ this move is to create an ease and encourage customers of the Bank to shop and spend abroad with their Ecobank naira denominated cards during this summer, stressing that, the debit card now allows access to their Naira account from any part of the world enabling them make cash withdrawals as well as carry out web purchases abroad”.

He said “further to our earlier communication informing you of the suspension of international transactions on Naira denominated debit cards, we are pleased to inform you that you can now use your Naira denominated Ecobank MasterCard for international transactions. The debit card now allows you access to your Naira account from any part of the world. With it, you can now make cash withdrawals and make POS / Web purchases abroad, subject to the limits.”

He explained that customers could get an instant card within two minutes in any Ecobank branch, and that the card is automatically enabled for value added services and online transactions both locally and abroad.

Mr. Tunde Kuponiyi clarified that customers of the Bank can also use their foreign currency denominated MasterCard debit cards, USD, GBP and EUR to enjoy spending directly from their domiciliary account.

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