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Nairaland Forum / Nairaland / General / Business / Dollar Scarcity: Banks Suspend ATM Card Usage Abroad (24020 Views)
Dollar Scarcity Stops Capital Repatriation By Investors / Senate Asks CBN To Suspend ATM Card Maintenance Charges / Naira Faces Further Decline On Continued Dollar Scarcity (2) (3) (4)
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Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Pidggin(f): 7:05am On Oct 17, 2016 |
This means our cards are now almost useless. Biticoin seems like the best way out and if course dollar accounts for those who have money |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by CACAWA(m): 7:05am On Oct 17, 2016 |
CSNg:bro what is their rate? |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by DonCortino: 7:05am On Oct 17, 2016 |
I am not understanding o! I have naira here in my bank, I travel abroad and decided to withdraw over d atm there, I removed 50 dollars from the atm and d naira equivalent is taken from my account. Abeg o! How does this deplete dollars here in naija? Someone pls explain to me how it works. Thanks. 5 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:06am On Oct 17, 2016 |
CSNg:Team payoneer all the way |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Dexema(m): 7:06am On Oct 17, 2016 |
But will this so called rule affect the "big boys"? because the number of people responsible for 70% of our dollar spending are less than 5% of the population. 3 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by UkwuNnu(m): 7:07am On Oct 17, 2016 |
Lajet: Not true, I used it just two weeks ago. |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:07am On Oct 17, 2016 |
tdayof:Switch to worldremit bro |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by baddosky1: 7:09am On Oct 17, 2016 |
This is what happens when a clueless efulefu like kermit adeosun aka coconut skull is minister for finance 6 Likes
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Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Hexilon: 7:09am On Oct 17, 2016 |
Kill us already... ![]() ![]() 3 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Seun4FastLoans(f): 7:10am On Oct 17, 2016 |
Is this how we gonna continue living in this country? 2 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Rahym001(m): 7:11am On Oct 17, 2016 |
Dollar scarcity has been ravaging the economy after the price of crude oil crashed Nigeria’s main forex earner. It crashed from $110 per barrel to around $44 per barrel from June 2014. The nation’s foreign exchange reserves have been depleting since then. Why did we then employ Emiefele and Adeosun, it seems they don't know their job; i have said this sack them and try other people but bubu would not here 2 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Pidggin(f): 7:12am On Oct 17, 2016 |
Kaydeexotic: What's this? |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Lajet: 7:12am On Oct 17, 2016 |
UkwuNnu: It depend the country you are. I called there Customer Care the asked me the country I'm calling from i told them. the told me that I can't use my Card in some countries 1 Like |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by tdayof(m): 7:13am On Oct 17, 2016 |
Kaydeexotic:How does it work? |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Rahym001(m): 7:16am On Oct 17, 2016 |
DonCortino:abeg help me ask them nonsense economic team 1 Like |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Mannylex(m): 7:16am On Oct 17, 2016 |
I feel for students most especially that are outside the country. Payment through for A application hasn't been fruitful for a while , combined with the suspension of debit card usage outside the country. The economy is a mess at the moment. 3 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:17am On Oct 17, 2016 |
tdayof:It's a very reliable money transfer company and %110 more reliable than western union and Co.. .... If anyone's sending you money.. .all they need do is sign up on their website and once you give them your account name,number,bank name and city... That's all.. .you'll get your money in just 10mins directly credited into your bank account.. ..the company even sends you a text message stating that the money has been paid into your account.. . Low transaction fees.. .and their exchange is better than that of western union and money gram.. ..like #3000 difference.. . |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:19am On Oct 17, 2016 |
Pidggin:It's a very reliable money transfer company and %110 more reliable than western union and Co.. .... If anyone's sending you money.. .all they need do is sign up on their website and once you give them your account name,number,bank name and city... That's all.. .you'll get your money in just 10mins directly credited into your bank account.. ..the company even sends you a text message stating that the money has been paid into your account.. . Low transaction fees.. .and their exchange is better than that of western union and money gram.. ..like #3000 difference.. . |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by ezechueze(m): 7:19am On Oct 17, 2016 |
OK |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by olysexy(f): 7:22am On Oct 17, 2016 |
this government has no clear cut policy... just trying rubbish, this govt shld hide its face in shame.... go get a good economist nd nt all this trash. 5 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by mikhe2(m): 7:22am On Oct 17, 2016 |
They should impeach dis cattle man 3 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by akmath: 7:23am On Oct 17, 2016 |
Teacher: mention 3 things dat can be found in d kitchen... Ojo: pot Teacher: good! Amina: stove Teacher: awesome! Akpos: Aisha Teacher: y Aisha? Akpos: coz she belongs 2 d kitchen Teacher: ar u sick? Akpos: ask our president.... 1 Like |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by 4nobody4every1: 7:23am On Oct 17, 2016 |
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Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Austeenite(m): 7:26am On Oct 17, 2016 |
Have never seen a Central Bank in this world that is as clueless as the current administration. They keep changing policies like wrapper and this is have a huge negative impact on the economy. 3 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by baddosky1: 7:29am On Oct 17, 2016 |
Kaydeexotic: Can i receive money from people living abroad directly into my bank account (GTB) here in Nigeria via the World Remit? |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Nobody: 7:29am On Oct 17, 2016 |
DonCortino:It passes through CBN (foreign reserves) , just like you want to buy phone on foreign website with naira or import anything from abroad in Nigeria. They will not collect your naira but the foreign currency involved. It will pass through somewhere. Now there is scarcity of dollars to convert such money you need at that rate, there by they said you should get the dollar card, fund your domi accnt here, then link it, so that you can do your transactions same as currency involved. Having said that, anyone following this story will know that these banks after their meetings some many days ago took the decision. I think with the introduction of travelex to disburse dollars to bdc, now they don't find it funny. They hv been diverting the so called dollars gotten from CBN and that of Wu and mg to their cronies and highest bidder ,at parallel market, so the CBN , I think hv to stop this thru travelex and told them to sell with Max profiits of 5% (I don't know if am correct), of the official price to end users. I think that profits is so small for them, hence the decision. Anyone that can explain better should sheild more lights. that's what I believe happened. This is what I call round tripping back firing in the midst of dollar scarcity. 4 Likes 1 Share |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Nobody: 7:31am On Oct 17, 2016 |
Kaydeexotic:Is worldremit still working, I used it like 3 months ago, and I thought it is suspended. Thanks. |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:32am On Oct 17, 2016 |
baddosky1:Yes sir.. .i don't know precisely the number of times I've used their services to receive money but I'm sure it's been more than 50 times within the last six months.. .however. ..it seems the limit on each transaction is not more than £5000 for senders in UK. .i don't know the limit for that of US but I'm sure it'll be around the same range.... 2 Likes |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:32am On Oct 17, 2016 |
priceaction:Their services are back already sir.. .working perfectly well |
Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Nobody: 7:35am On Oct 17, 2016 |
this is the part where zombies turn wailers and I just have to sit back and have a hard laugh, eku recession to you all, all this trial and error economic team self 5 Likes
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Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Kaydeexotic(m): 7:36am On Oct 17, 2016 |
In fact I just received a payment early this morning from UK....their services work 24/7...it doesn't fail..... I mean IT DOESNT FAIL.. ... This is what the text message they'll send to you looks like once someone sends you money baddosky1 and priceaction 2 Likes
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Re: Dollar Scarcity: Banks Suspend ATM Card Usage Abroad by Nobody: 7:37am On Oct 17, 2016 |
Kaydeexotic:God bless you. Thank you bro. This is the best. I never knew . |
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