Hello everyone,
I was wondering what the exchange rate is when you pay for stuff online in foreign currency, do they use the official bank rate or black market rate? And also what's the best Nigerian bank in regards to low debit rates for foreign transactions. I recently just relocated back to Nigeria so I'm clueless to these things. Thanks.

Best you call the bank for current rates before you make online payments!

puppiluv:
Best you call the bank for current rates before you make online payments!

I don't have a Nigerian account yet that's why I'm tryna figure out which is the best.

WillOkey:
Hello everyone,
I was wondering what the exchange rate is when you pay for stuff online in foreign currency, do they use the official bank rate or black market rate? And also what's the best Nigerian bank in regards to low debit rates for foreign transactions. I recently just relocated back to Nigeria so I'm clueless to these things. Thanks.

they use official bank rate if you use Nigerian bank debit card,i think access bank/gtbank rate's are sensible to me.

lie...
Gtbank charges between 390 - 391
from my personal experience recently

mactoni91:
lie...
Gtbank charges between 390 - 391
from my personal experience recently

whats lie there now?most banks charges more,i only said sensible to me,if you not cool with their charges you have the option of trying other banks if you can find one!

mactoni91:
lie...
Gtbank charges between 390 - 391
from my personal experience recently

Whoa. That's the black market rate, the dollar is N308 at cbn last I checked. So there's no bank that gives out cbn rates?