Finally, I received an email from GTBank that they have now increased the quarterly USD transaction limit on our Naira cards to 40,000 USD! This is really huugggeee!!!!
What does it mean?
This means that from now on, you can spend up to 40,000 USD on your Naira card every 3 months. They didn't specify a monthly amount, but they used quarterly, which simply means every 3 months. The last time I checked their quarterly limit, it was 6,000 USD - and even that was a lot for an average freelancer. 40k is really something else!
This is a huge blow to virtual cards from fintech companies, as GTBank is trying to compete with these fintechs in the USD market.
ON GTBank, for example, you can also exchange your USD to Naira as long as it is in market hours during weekdays!
