I am in a fix on how to pay $1,660.00 for my December CFA Level 1 exams. I tried using my MasterCard yesterday but I could not, when I called my Bank, GTB I was told the daily transaction limit on cards is $300 for foreign payments. I then tried to do a wire transfer through a domiciliary account and was met with the same response from the bank. Finally, I sent a mail which has not been responded to, to the CFA Institute if they can spread the exam fees so I can be paying $300 a day till i finish paying the exam fees. I am worried I may miss out on registering for the exam if this option fails and the only option given to me by the bank is to fill Form A which will take about two weeks with no assurance that they will obtain dollars and effect the transfer. Last day for exam registration is September 16, 2015. I need advice and help, thanks.

Try someone with a Dorm account. It may be better.

zodo2rule:
Try someone with a Dorm account. It may be better.

I tried and used my colleague's dom account but unfortunately GTB said the same thing that the $300 daily restriction also applies. I called CFA on whether I can be debited $300 until the entire amount is exhausted but they said they need the payment to be made once.

Go to GTB and they will lift the limit just for that transaction as long as you explain the purpose with proof if possible.

Otherwise, get someone out of the country to pay and refund on a daily basis.

davide470:
Go to GTB and they will lift the limit just for that transaction as long as you explain the purpose with proof if possible.
Otherwise, get someone out of the country to pay and refund on a daily basis.

Thanks I have been to GTB and they said that limit will not be lifted. They also said I need to fund my dom account for them to transfer the money through wire transfer to CFA Institute, I asked if the GTB will transfer the money and debit my naira account for the equivalent dollars they said no that I needed to get a bereau de change operator to transfer dollars to my dom account with gtb before the will do the wire transfer. I met one and he told me he was going t transfer at N236 to $1 when I can get dollars at N218 to $1 cash. I begged him to do it N218 but the BDC refused.

llade:

Thanks I have been to GTB and they said that limit will not be lifted. They also said I need to fund my dom account for them to transfer the money through wire transfer to CFA Institute, I asked if the GTB will transfer the money and debit my naira account for the equivalent dollars they said no that I needed to get a bereau de change operator to transfer dollars to my dom account with gtb before the will do the wire transfer. I met one and he told me he was going t transfer at N236 to $1 when I can get dollars at N218 to $1 cash. I begged him to do it N218 but the BDC refused.

That's serious.

Don't you have someone over the border to help pay and you could do a daily remittance instead of this daylight robbery?

davide470:
That's serious.

Don't you have someone over the border to help pay and you could do a daily remittance instead of this daylight robbery?

Can someone else pay for one's exam?

doenut:

Can someone else pay for one's exam?

Of course

davide470:
Of course

Oh nice. Thanks for the info

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llade:
I am in a fix on how to pay $1,660.00 for my December CFA Level 1 exams. I tried using my MasterCard yesterday but I could not, when I called my Bank, GTB I was told the daily transaction limit on cards is $300 for foreign payments. I then tried to do a wire transfer through a domiciliary account and was met with the same response from the bank. Finally, I sent a mail which has not been responded to, to the CFA Institute if they can spread the exam fees so I can be paying $300 a day till i finish paying the exam fees. I am worried I may miss out on registering for the exam if this option fails and the only option given to me by the bank is to fill Form A which will take about two weeks with no assurance that they will obtain dollars and effect the transfer. Last day for exam registration is September 16, 2015. I need advice and help, thanks.

hello bro. I know its been a while but pls how did you resolve this? I'm in a similar situation