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Nairaland Forum / Nairaland / General / Business / Why Banks Suspended Payment Card Use Abroad (27278 Views)
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Why Banks Suspended Payment Card Use Abroad by Adesiji77: 2:02pm On Oct 19, 2016 |
FACTS emerged on Tuesday that banks in the country decided to stop their naira debit cards from working abroad after the Central Bank of Nigeria asked them to adopt the interbank foreign exchange rate as the basis for charging customers for foreign currency-denominated transactions. http://punchng.com/banks-suspended-payment-card-use-abroad/ lalasticlala, dominique, Mynd44 6 Likes 4 Shares |
Re: Why Banks Suspended Payment Card Use Abroad by bigtt76(f): 2:09pm On Oct 19, 2016 |
So what of the dollars the banks were to sell to BDCs? Did they source it from the Black market ni? These people are not just telling us the truth. The banks stopped the card transactions after CBN suspended 19 banks from selling their forex. What this meant is that when the banks are suspended, they cannot continue to payout Naira to customers while they have a horde of forex unused in their vaults. They would end up not having Naira again since they cannot use the forex to settle their bills externally without CBN clamping down on them nor can they sell to the BDCs to get Naira. Just watch, when the suspension is lifted, they will resume ....#uselessBanks 39 Likes 1 Share |
Re: Why Banks Suspended Payment Card Use Abroad by dajx: 4:18pm On Oct 19, 2016 |
This country is in deep poo! 2 Likes 1 Share |
Re: Why Banks Suspended Payment Card Use Abroad by Adesiji77: 6:32pm On Oct 19, 2016 |
So This Is Why Banks Charged You Black Market Rates Using Your Naira Cards For Forex Transactions Investment Banking firm Cardinal Stone Partners in its latest weekly report revealed why it thought commercial banks in Nigeria were charging customers parallel market rates when they use their debit card for online forex transactions. http://nairametrics.com/so-this-is-why-banks-charged-you-black-market-rates-using-your-naira-cards-for-forex-transactions/ 2 Likes 1 Share |
Re: Why Banks Suspended Payment Card Use Abroad by blaise00700(m): 6:57am On Oct 20, 2016 |
I had a nightmare last night, i saw Buhari in my dream giving orders to EFCC officials to break my front door Any Joseph in the house to help interpret Note : I didn't study law 27 Likes 1 Share |
Re: Why Banks Suspended Payment Card Use Abroad by engrjacuzzi: 6:59am On Oct 20, 2016 |
buhari don make us see shege, we are waiting for intervention. |
Re: Why Banks Suspended Payment Card Use Abroad by abnur14(m): 6:59am On Oct 20, 2016 |
we are watching...after making it so hard to withdraw Cuz of the unreasonable exchange rates now they are stopping us from even using the card completely .... 1 Like |
Re: Why Banks Suspended Payment Card Use Abroad by Hawlahscho(m): 6:59am On Oct 20, 2016 |
Wait..... Someone pls tell me. Is this the reason I cant link my Naira MasterCard with my Google play store for purchases 2 Likes 2 Shares
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Re: Why Banks Suspended Payment Card Use Abroad by tinsel: 7:00am On Oct 20, 2016 |
The greatest sabotage to the economy are the Nigeria banks. 17 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by ladyF(f): 7:00am On Oct 20, 2016 |
Bloody thieves!!! Nigerian banks are part of our enemies of progress. They charge you N450/$ on a naira Mastercard when shopping online. But try withdrawing locally with a USD card and you'll be withdrawing at CBN dollar-to-naira rates. Who are they deceiving. Let them stop it. The days of awoof profit is over for them. Hope they enjoyed it while it lasted. Awon ole! It's [size=15pt]LadyF[/size] again 66 Likes 5 Shares |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:01am On Oct 20, 2016 |
so wetin make we do now?? |
Re: Why Banks Suspended Payment Card Use Abroad by TheOonlyOne: 7:01am On Oct 20, 2016 |
Payoneer ti take over jo 4 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by Nobody: 7:02am On Oct 20, 2016 |
Okay na... |
Re: Why Banks Suspended Payment Card Use Abroad by Rick9(m): 7:02am On Oct 20, 2016 |
Ehen |
Re: Why Banks Suspended Payment Card Use Abroad by Nobody: 7:03am On Oct 20, 2016 |
Mynd44 - I owe you one cup of tea for this story. I think the request from CBN is in our best interest. But the useless banks would not do the needful. With their best interest at heart 11 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by valuemedic: 7:04am On Oct 20, 2016 |
watching 1 Like |
Re: Why Banks Suspended Payment Card Use Abroad by acunon: 7:05am On Oct 20, 2016 |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:05am On Oct 20, 2016 |
. |
Re: Why Banks Suspended Payment Card Use Abroad by nairalandfreak(m): 7:05am On Oct 20, 2016 |
Use all the terminology you can for your greediness . |
Re: Why Banks Suspended Payment Card Use Abroad by mynaijainfo(m): 7:05am On Oct 20, 2016 |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:06am On Oct 20, 2016 |
.. |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:06am On Oct 20, 2016 |
. |
Re: Why Banks Suspended Payment Card Use Abroad by countsparrow: 7:06am On Oct 20, 2016 |
Oga o... Nigeria just kukuma kill me Make una come carry una debit card o, abeg i no want again, i go dey line up for banking hall. make una return d change from my 1k atm charge, i fit use dat small money buy rice chop for 3 days... 4 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by Moreoffaith(m): 7:06am On Oct 20, 2016 |
This is a good development from CBN, it is for our own good. 3 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:06am On Oct 20, 2016 |
... |
Re: Why Banks Suspended Payment Card Use Abroad by mecusbosco(m): 7:07am On Oct 20, 2016 |
bigtt76:I'm not sure understand the way bank operates... 4 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:07am On Oct 20, 2016 |
.... |
Re: Why Banks Suspended Payment Card Use Abroad by harosho07(m): 7:07am On Oct 20, 2016 |
Please can you explain how this will affect the Facebook advert payment since this banks do not allow payment in Naira |
Re: Why Banks Suspended Payment Card Use Abroad by Tobyshegz(m): 7:08am On Oct 20, 2016 |
.......... |
Re: Why Banks Suspended Payment Card Use Abroad by martineinstein(m): 7:08am On Oct 20, 2016 |
they are trying to retaliate since CBN stopepped selling forex to them after their irregularitites 1 Like |
Re: Why Banks Suspended Payment Card Use Abroad by Realdeals(m): 7:09am On Oct 20, 2016 |
I was surprised when I was charged at N322 by a bank for online transaction. 8 Likes |
Re: Why Banks Suspended Payment Card Use Abroad by takenadoh: 7:11am On Oct 20, 2016 |
the banks are useless charging close to black market rates!!!!! serves them right! 4 Likes 1 Share |
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