Ecobank Raises International Spend Limits on Naira Cards

Ecobank Nigeria has announced an increase in the maximum daily limit of its naira debit cards abroad, depending on the type of card held by its customers.

Customers with naira debit cards can now pay up to $4,000 and $5,000 per day on online channels and point of sale (PoS) terminals respectively across the world.

A statement from the bank yesterday also added that foreign currency debit card holders can spend up to $5,000 daily from their domiciliary accounts.

For Ecobank Premier Customers with Platinum Credit Cards, daily transaction limits of $15,000.00 apply. These limits are however subject to the Central Bank of Nigeria’s annual spending limits on naira and foreign currency denominated cards.

Commenting on this development, the Consumer Distribution Head, Ecobank, Mr. Ayotunde Kuponiyi remarked that this change was a response to customers’ feedback,saying the bank was determined to reach and provide the customers convenience at all times.

He said: “This is positive news for our customers, particularly for those travelling abroad for business and leisure and for our Customers in Diaspora. It is very important that Customers of Ecobank access their accounts with relative ease wherever they are, within or outside Nigeria.”

Kuponiyi reiterated that Ecobank Customers can walk into any of the bank’s over 400 branches to pick up an instant card under five minutes. These cards are enabled for value added services and online transactions both locally and abroad, he said, adding that foreign currency denominated debit cards, (USD, GBP and EUR) can also be accessed directly for use in transacting from domiciliary account withdrawals.