What this means is that you can’t use your Naira debit cards to make online transactions on platforms based outside Nigeria. And also, you cannot use your Naira debit cards to withdraw money from ATM abroad.
Due to this recent market development, most bloggers and internet marketers can’t pay for Facebook ads and other services rendered by foreign websites. The only alternative is to request for a foreign currency (FCY) denominated debit card which will be linked to your domiciliary account. That means you have to open a domiciliary account if you don’t have one.
If opening a domiciliary account is not possible for you at the moment, you can still go with some few banks that allow you to pay for services online with their Naira debit cards.
In order to know which Nigeria banks currently permit foreign transactions with their Naira debit cards, I contacted the banks. After getting their feedback, I came to know that Access Bank and Guaranty Trust Bank are the ones whose Naira debit cards are still enabled for online international transactions.
I should also remind everyone using online transactions to use a VPN to encrypt their online activity for financial security.
Not everyone is a blogger or internet marketer that earns in foreign currency. Thus, sourcing for dollar will be hard for you if you have a domiciliary account. No one knows the future, so we can’t say how long these banks will continue with online foreign transactions with their Naira debit cards but as for now, you may choose to use them all.
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