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Nairaland Forum / Nairaland / General / Business / [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban (13020 Views)
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[TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 1:25pm On Dec 20, 2016 |
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! ![]() 3 Likes
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Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Spymate: 2:10pm On Dec 20, 2016 |
How much is the shipping fee to Nigeria from aliexpress |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by olahero(m): 2:10pm On Dec 20, 2016 |
Smart thread, good of you hope. 1 Like |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 2:54pm On Dec 20, 2016 |
Spymate: 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 |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by scarr: 5:58am On Dec 22, 2016 |
following |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by supereagle(m): 6:29am On Dec 22, 2016 |
Thanks Op. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by benardemma(m): 7:02am On Dec 22, 2016 |
You can not use Accsse bank visa card on any China portal brother, its only can be use in USA and others |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Rumplesteelskin: 5:04pm On Dec 22, 2016 |
benardemma: 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! 2 Likes |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Nobody: 9:23pm On Dec 22, 2016 |
Please what's the dollar rate to Naira?? |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 6:20pm On Dec 23, 2016 |
Rumplesteelskin: Thank you, i was about to say the same thing. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by rookidmart: 7:54am On Jan 01, 2017 |
nelsenhenry: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 |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by shupy: 3:39pm On Jan 01, 2017 |
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? |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by rookidmart: 8:48am On Jan 02, 2017 |
shupy: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:https://www.nairaland.com/post/52448004 |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by shupy: 10:05am On Jan 02, 2017 |
@rookidmart Thank you for your response |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Billyzone4: 10:45am On Jan 21, 2017 |
dammybas:can I still use a naira master card for payment on gearbest and Aliexpress on access bank? |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 11:43am On Jan 21, 2017 |
Billyzone4: Access bank only allows their Naira VISA card. You can't use the MasterCard. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Billyzone4: 11:58am On Jan 21, 2017 |
dammybas:what is the difference between them? But I can still use the naira card which has no monthly limit right and at gtb bank |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by mikecino(m): 12:27pm On Jan 21, 2017 |
I tot gearbest uses paypal as node of payment. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 1:09pm On Jan 21, 2017 |
mikecino: 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. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 1:11pm On Jan 21, 2017 |
Billyzone4: 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. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Billyzone4: 1:17pm On Jan 21, 2017 |
dammybas:am talking about the naira cards of both banks or it limited to the equivalent of the dollar too? |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by bigiyaro(m): 1:22pm On Jan 21, 2017 |
dammybas:pls can the access bank visa card be used to fund payza and perfect money? If yes do you know the current rates. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 1:37pm On Jan 21, 2017 |
Billyzone4: 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 |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by dammybas(m): 1:37pm On Jan 21, 2017 |
bigiyaro: I'm not sure if it can be used, but the current rate is N325 to $1 |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Billyzone4: 1:54pm On Jan 21, 2017 |
dammybas:thanks for the answers they were useful. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by rookidmart: 2:51pm On Jan 21, 2017 |
dammybas:Access Bank now has a limit of $100 monthly. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by bigiyaro(m): 3:08pm On Jan 21, 2017 |
dammybas:OK. Thanks. |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by Donprinzee: 9:45pm On Jan 22, 2017 |
Can The Limit Be Extend Using Hardware Token On GT Mastercard |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by rookidmart: 8:47am On Jan 23, 2017 |
Donprinzee:The limit cannot be exceeded at all, sir. 1 Like |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by mumels(m): 7:21am On Jan 26, 2017 |
dammybas: Gtbank stopped its online sites Foreign transaction |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by rookidmart: 8:55am On Jan 26, 2017 |
mumels:Really? When? |
Re: [TUTORIAL] Cheapest Way To Buy Items From Aliexpress With Forex Ban by ABMC(m): 7:17pm On Jan 28, 2017 |
I blame APC for this dollar limit on our cards. |
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