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Nairaland Forum / Nairaland / General / Business / UBA Sets International Spending Limit To $20 Per Month (32256 Views)
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Re: UBA Sets International Spending Limit To $20 Per Month by Nobody: 5:23pm On Feb 25, 2022 |
Ammishaddai:Educate yourself young man, this has nothing to do with Yahoo boys, they want to put limits on conversions and ease the stress on our weak Naira. They don’t have dollars so when you buy something online they are forced to use the bank rates for conversations. You are still able to spend what ever you want if you have a dollar master card and fund it with dollar. They believe by doing this people will consider funding there account with dollar deposits hence dollar will be available and rates will drop. 8 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by CaptainFM1: 5:23pm On Feb 25, 2022 |
Ammishaddai: Yahoo boy is not the main reason for setting dollar spending limit. Every country wants the money to remain in their country. No country wants people to repatriate the money meant for growing local economy. |
Re: UBA Sets International Spending Limit To $20 Per Month by bot101(m): 5:25pm On Feb 25, 2022 |
Ammishaddai: Although, I stand and will always stand against all forms of cybercrime, your statement is a lie. Thete is the US, Russi, India, China and Mexico at least before Nigeria. 1 Like |
Re: UBA Sets International Spending Limit To $20 Per Month by Rollsnjaguar(m): 5:25pm On Feb 25, 2022 |
Ammishaddai: I notice you have fuse with Yahoo boys, but try to read and understand what CBN policy on dollar is before showing ignorance on a public forum. Several persons have mentioned to correct you. You are still shouting "Yahoo boys". Na wa o 8 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by donprinyo(m): 5:26pm On Feb 25, 2022 |
real explanation of Buhariconomics. Poverty |
Re: UBA Sets International Spending Limit To $20 Per Month by Cheeryfeet: 5:27pm On Feb 25, 2022 |
iykepromotions:Domiciliary account means you source dollars your self. |
Re: UBA Sets International Spending Limit To $20 Per Month by Victerica(m): 5:28pm On Feb 25, 2022 |
Newboss: Na justified fraudulent activities, dey cause all these sanctions... Which kind of people wey Africans be? Una no dey think? |
Re: UBA Sets International Spending Limit To $20 Per Month by AAA593: 5:28pm On Feb 25, 2022 |
UBA has been deducting money from those doing international transactions illegally for months now. It could be coming from this angle. UBA is the only bank with this $20 spending limit so far. |
Re: UBA Sets International Spending Limit To $20 Per Month by IamDavid(m): 5:29pm On Feb 25, 2022 |
Ammishaddai:This is not really true. It's due to the unavailability of dollars in good quantity. 2 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by Cantonese: 5:30pm On Feb 25, 2022 |
Ammishaddai: Every reasonable and decent Nigerian must disagree with yahoo and every manner of get-rich-quick scheme. Truthfully they have seriously damaged our ability to use the platforms of some of these international organizations. But sadly, that's not the reason why we cannot use our ATM cards abroad or make some of these dollar transactions. Look back at the beginning of this regime in 2015. You will recall that it took the president several months to form his cabinet. Within that period our currency was shaking. We were told about "the body language" of the president. Before then you could use your ATM card on any machine around the world. We had daily limit of $300 per day. I was a victim of the problem. They then told us that our foreign reserves had depleted and we could no longer use our cards abroad. Do you remember the word "unavailable". Each time the banks did not have dollars to sell to customers. Bureau de change operators sourced for dollars in Togo, Ghana, etc. CBN did not have dollars to sell to banks. Remember the "policy summersaults"? It took ages to restore it and the banks reduced the daily limit. This government ruined it all. The major problem is the state of our economy. Everyday our economy goes from bad to worse with very unfavourable economic policies. 3 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by Newboss(m): 5:31pm On Feb 25, 2022 |
Victerica: No be fraudulent activities. Banks don't have enough dollar. So they're rationing what they have. CBN has released several memos to this effect. Abeg, carry your conspiracy theory go your grave. I no wan hear nonsense this cool evening. 5 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by Ournolly: 5:32pm On Feb 25, 2022 |
NGRComrade:PayPal still operates in Nigeria till this moment, just that users cannot get paid for now which according to them is as a result of Nigerian financial policy. You can still receive payment on PayPal via 3rd party services. |
Re: UBA Sets International Spending Limit To $20 Per Month by Nobody: 5:34pm On Feb 25, 2022 |
BritishNaija:Use Eversend, thank me later. |
Re: UBA Sets International Spending Limit To $20 Per Month by IamDavid(m): 5:34pm On Feb 25, 2022 |
Ammishaddai:Yahoo boys are terrible but they're not the ones responsible for scarcity of dollars. Okay? Stop disgracing yourself. Payment systems not operating in Nigeria is different from banks capping the amount you can spend. Read up! 7 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by Victerica(m): 5:35pm On Feb 25, 2022 |
Newboss: Why don't Banks, have enough dollars? Bro think |
Re: UBA Sets International Spending Limit To $20 Per Month by COMPAQ(m): 5:35pm On Feb 25, 2022 |
Pierocash: That policy you are referring to has not started o. CBN governor clearly said by the end of this year |
Re: UBA Sets International Spending Limit To $20 Per Month by Cognitivereason: 5:35pm On Feb 25, 2022 |
iykepromotions:Opening domiciliary account isn't easy..besides..GTB is $100 |
Re: UBA Sets International Spending Limit To $20 Per Month by Hndrrxxx(m): 5:37pm On Feb 25, 2022 |
Ammishaddai:shut your damn mouth 'fore you dropped, nigga 5 Likes 1 Share |
Re: UBA Sets International Spending Limit To $20 Per Month by Pierocash(m): 5:41pm On Feb 25, 2022 |
COMPAQ:that is why they are doing a his to boost their fx reserve |
Re: UBA Sets International Spending Limit To $20 Per Month by ngwababe(f): 5:42pm On Feb 25, 2022 |
Re: UBA Sets International Spending Limit To $20 Per Month by Nobody: 5:43pm On Feb 25, 2022 |
Ammishaddai:not true 2 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by einsteine(m): 5:44pm On Feb 25, 2022 |
To buy buns or what |
Re: UBA Sets International Spending Limit To $20 Per Month by yusluvad(m): 5:44pm On Feb 25, 2022 |
Boss, show me the way... iLegendd: |
Re: UBA Sets International Spending Limit To $20 Per Month by Handsum64: 5:44pm On Feb 25, 2022 |
Emphasis is for Naira cards please |
Re: UBA Sets International Spending Limit To $20 Per Month by Dmacqh(m): 5:46pm On Feb 25, 2022 |
What’s requirements to send to receive money though Western Union ? |
Re: UBA Sets International Spending Limit To $20 Per Month by Poopypants: 5:47pm On Feb 25, 2022 |
Ammishaddai:person go just dey him papa house dey quote nonsense. dollar Spending limit is Down in nigeria because of our economy , naira and importation and exportation ratio. Yahoo bois no even make up to 1 quarter of dollar spending in nigeria. 3 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by Nobody: 5:48pm On Feb 25, 2022 |
Ammishaddai:Jesus Christ, some people are really stupid in this country. Your level of illiteracy is alarming and the funny thing is you don’t even want to learn. Everyone is pointing out the problem but you no wan calm down listen. The reason why Transferwise and Co stopped working is because of the terms giving to them by CBN. They where asked to charge transactions in Dollar instead of Naira so if you want to send money to Nigeria they will charge that card in Dollar so banks will have to process that payment in Dollar therefore creating inflow of Fx into Nigeria. They couldn’t agree and disabled sending money to Nigeria entirely. The notice is even on their website but you won’t read it. That is why you sound like a high level illiterate. 5 Likes
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Re: UBA Sets International Spending Limit To $20 Per Month by angelfallz(m): 5:52pm On Feb 25, 2022 |
If you are using UBA or any bank's dollar debit card would you have restrictions? iLegendd: |
Re: UBA Sets International Spending Limit To $20 Per Month by tobyemmanuel(m): 5:59pm On Feb 25, 2022 |
Ammishaddai: You are capping nonsense. Where did you get all this trash from? This move is motivated solely by economic reasons. However, it is a bad one. 2 Likes |
Re: UBA Sets International Spending Limit To $20 Per Month by wkid(m): 6:04pm On Feb 25, 2022 |
Ammishaddai: Ignorant comment. PayPal doesn't operate in several countries of the world (mostly Africa, Asia and a few European countries). Is it because of Yahoo? It is simply due to the bad economy and scarcity of dollars. 1 Like |
Re: UBA Sets International Spending Limit To $20 Per Month by BigIyanga: 6:11pm On Feb 25, 2022 |
Ammishaddai:This is not true. Scarcity of FX is the problem. If scam is the primary issue, why did Stripe, as US competitor to Paypal, purchase paystack for $250m?? |
Re: UBA Sets International Spending Limit To $20 Per Month by supereagle(m): 6:13pm On Feb 25, 2022 |
You Sabi wetin dey happen. Ammishaddai: |
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