The United Bank for Africa (UBA) Plc wednesday announced an immediate upward review of the monthly international spend limit on its debit and prepaid naira cards from $100 to $2,000.
The upward review, which represents a marked increase by 1,900 per cent, allows customers to withdraw up to $2,000 per month as against $100 which was obtainable previously.
This, the bank said in a statement, was done in response to the growing demand for higher limits by customers who make international transactions.
It further reflected the improved confidence in the Nigerian economy as shown by increased foreign exchange in the financial system.
The Executive Director, Operations & Technology, UBA, Mr. Chukwuma Nweke, who announced the review, explained that the move was intended to enable more convenient and seamless transactions when making purchases outside the country.
He said: â€œThis is in recognition of the customersâ€™ needs and expectations. The new limit has been implemented.â€
According to Nweke, with the significant review, customers will now be able to carry out enhanced cross border transactions priced in foreign currency using their debit, credit cards with improved satisfaction.
He explained that customers will now be able to carry out more transactions with ease and at their convenience.
â€œThis gives our customers the opportunity to make international payments on POS and Web. In addition, you can make ATM withdrawals subject to the current limit of $100/day.
â€œThis only goes to show that, customers are at the core of our business and our unalloyed commitment to satisfying them with nothing short of unequalled service is not compromised. We remain focussed on creating superior and sustainable service delivery, unique to UBA,” he added.