Zenith Bank Limits Int’l Withdrawal Amount On Card
Zenith Bank has set a limit t to monthly international withdrawal on naira cards at $1,000 per month.
In a mail to its depositors, the lender said daily limits for withdrawals outside Nigeria had been set at $300.
The mail read, “Please be informed that the monthly international spend limit for your Zenith Bank naira card has been reviewed to $1,000.
“Your card can be used for ATM withdrawals outside Nigeria ($300 daily limit), web and point of sale payment.”
According market watchers, Zenith Bank may not be alone in this,saying banks in 2016 adopted this strategy due insufficient dollars for their customers.
It would be recalled that the Central Bank of Nigeria, CBN, has said the Market fundamentals do not support devaluation now. It said those behind ‘dollar scarcity’ are economic saboteurs, adding that the apex can finance genuine transactions.