It's no news that the Forex situation in Nigeria is in some deep sh*t (forgive my language). Virtually all bank have banned the use of their naira debit cards from foreign transactions (ATM, Online, PoS etc). The banks which still allow these transactions unfortunately have very unrealistic limits. Imagine $100 per month!

The average Nigerian doesn't have a dollar Mastercard/Visa card and might not be able to process one soon due to the rate at which the exchange rate is going haywire. This has made it difficult for Nigerians to purchase items.

For those who still cherish buying those awesome phones like Xiaomi, Oukitel etc or other valuable items from Aliexpress (or Gearbest) here are two different solutions which you can use easily.

METHOD 1: GTB Naira MasterCard
Rate: N320 ~ $1
Monthly Limit: $100

Guaranty Trust Bank (GTB) is one of the few banks which still allows dollar denominated transactions with Naira Mastercard. Also, Gtb has about the cheapest exchange rate at just N320 to a $1.

The only problem is that you can't make transaction of more than $100 per month. Although you can find very nice phones for less than $100 (Click here to check out some <$100 Phones) , those interested in buying phones like Xiaomi and other top end phones may have to use method 2 below.

METHOD 2: Access Bank Visa Card
Rate: N325 ~ $1
Monthly Limit: $200

Access bank also allows dollar denominated transactions with their Naira Visa Card. Their exchange rate is also fairly ok at just N325 to $1. I usually recommend their card for people looking to purchase various items like phones, Clothing, Watches at the same time.

The monthly limit for access bank is pegged at $200. You will not be allowed to make transactions once you reach the limit.


For those who don't know about Aliexpress(or other Chinese Super Online stores like Gearbest) yet, you are missing a whole lot. For an introduction, you can check out the aliexpress website (www.aliexpress.com) or read this article I wrote about 11/11 Mega sales Day (Chinese version of Black Friday) on Aliexpress -----> https://dammybas..com/2015/11/aliexpress-1111-global-sales-festival.html


Do you have an alternative method you use to buy items from Aliexpress? Please share with us!

How much is the shipping fee to Nigeria from aliexpress

Smart thread, good of you hope.

Spymate:
How much is the shipping fee to Nigeria from aliexpress

Most items are usually available for free shipping. Infact, for any paid shipping item there's almost always a free shipping one. But you can pay extra for shipping to DHL if you want your items to arrive in less than 5 days

following

Thanks Op.

You can not use Accsse bank visa card on any China portal brother, its only can be use in USA and others

benardemma:
You can not use Accsse bank visa card on any China portal brother, its only can be use in USA and others

I just paid $106.95 with my Access Visa card on Aliexpress and the payment was successful... don't always sound so certain on what you don't have the fact... Peace!

Please what's the dollar rate to Naira??

Rumplesteelskin:


I just paid $106.95 with my Access Visa card on Aliexpress and the payment was successful... don't always sound so certain on what you don't have the fact... Peace!

Thank you, i was about to say the same thing.

nelsenhenry:
Please what's the dollar rate to Naira??

Depends on the bank.
For GTB, it's #320, Access is #325, and UBA is #315.
There are limits on the amount you can buy though.
For GTB it's $100 per month, for Access it's $200 per month.
You can check this thread for forex updates:
https://www.nairaland.com/2496037/exchange-rates-international-currencies-updates

Thank you for this. I've never done any international transaction before. I have questions concerning the delivery. *Where's my goods going to be delivered when it gets to Nigeria? * Is it going to be safe with whom ever it's delivered to? * Also, do I have to pay any fee before collecting my order?

shupy:
Thank you for this. I've never done any international transaction before. I have questions concerning the delivery. *Where's my goods going to be delivered when it gets to Nigeria?

To the nearest post office, and they'll deliver to your house, or call you to pick up.

Is it going to be safe with whom ever it's delivered to? *

At the post office?
It should be.
But again this is Nigeria, and anything can happen.

Also, do I have to pay any fee before collecting my order?

According to someone that knows better than me..

optimised:

Ideally, you ought not to pay a dime. except you want to tip them N100 or N200, but I learnt some stations claims they are mandated to officially charge N500 & issue receipt.
You have already paid postage when you ordered. just have that in mind for now. Experience with your particular station will help you latter. I can only authoritatively speak for mine in details.

https://www.nairaland.com/post/52448004

@rookidmart Thank you for your response

dammybas:


Most items are usually available for free shipping. Infact, for any paid shipping item there's almost always a free shipping one. But you can pay extra for shipping to DHL if you want your items to arrive in less than 5 days

can I still use a naira master card for payment on gearbest and Aliexpress on access bank?

Billyzone4:
can I still use a naira master card for payment on gearbest and Aliexpress on access bank?

Access bank only allows their Naira VISA card. You can't use the MasterCard.

dammybas:


Access bank only allows their Naira VISA card. You can't use the MasterCard.

what is the difference between them? But I can still use the naira card which has no monthly limit right and at gtb bank

I tot gearbest uses paypal as node of payment.

mikecino:
I tot gearbest uses paypal as node of payment.

Yes, they use PayPal and Credit/Debit Cards via PayPal.
But most people don't have a functioning PayPal account or find it hard to find their account. Hence the second method.

Billyzone4:
what is the difference between them? But I can still use the naira card which has no monthly limit right and at gtb bank

Access bank blocked naira MasterCard from dollar transaction, I don't know the reason. Only the Visa card is allowed to perform such transaction.

Gtb MasterCard has monthly limit of $100.

dammybas:


Access bank blocked naira MasterCard from dollar transaction, I don't know the reason. Only the Visa card is allowed to perform such transaction.

Gtb MasterCard has monthly limit of $100.

am talking about the naira cards of both banks or it limited to the equivalent of the dollar too?

dammybas:


Access bank blocked naira MasterCard from dollar transaction, I don't know the reason. Only the Visa card is allowed to perform such transaction.

Gtb MasterCard has monthly limit of $100.

pls can the access bank visa card be used to fund payza and perfect money? If yes do you know the current rates.

Billyzone4:
am talking about the naira cards of both banks or it limited to the equivalent of the dollar too?

Yes, I'm talking about the naira cards too.
The limit is for forex transactions
GTB » MasterCard. Limit is $100
Access bank » VISA. Limit is $200

bigiyaro:
pls can the access bank visa card be used to fund payza and perfect money? If yes do you know the current rates.

I'm not sure if it can be used, but the current rate is N325 to $1

dammybas:


Yes, I'm talking about the naira cards too.
The limit is for forex transactions
GTB » MasterCard. Limit is $100
Access bank » VISA. Limit is $200

thanks for the answers they were useful.

dammybas:

Yes, I'm talking about the naira cards too. The limit is for forex transactions GTB » MasterCard. Limit is $100 Access bank » VISA. Limit is $200

Access Bank now has a limit of $100 monthly.

dammybas:


I'm not sure if it can be used, but the current rate is N325 to $1

OK. Thanks.

Can The Limit Be Extend Using Hardware Token On GT Mastercard

Donprinzee:
Can The Limit Be Extend Using Hardware Token On GT Mastercard

The limit cannot be exceeded at all, sir.

dammybas:


Yes, I'm talking about the naira cards too.
The limit is for forex transactions
GTB » MasterCard. Limit is $100
Access bank » VISA. Limit is $200

Gtbank stopped its online sites Foreign transaction

mumels:

Gtbank stopped its online sites Foreign transaction

Really? When?

I blame APC for this dollar limit on our cards.