Emerging reports indicate that Guaranty Trust Bank (GTBank) may have reviewed restrictions hitherto placed on its Naira denominated MasterCard following series of complaints from customers. In a message sent to customers and published on its website, the bank stated that the update would take effect from 10 July 2017.
The message reads in part "the monthly International spend limit on our Naira MasterCard has been reviewed upwards from $100 to $1000"
It added that: International ATM withdrawal has been enabled on Naira MasterCard and Cardholders can now withdraw $300 daily on International ATM; however, the withdrawal commission has been reviewed from N420 to N1000 per withdrawal"
The bank also withdrew restrictions earlier placed on UAE and China, as cardholders can now carry out the transaction in both countries.
Meanwhile, the Bank hinted that restriction on magnetic striped terminal was still in place.
