How To Obtain Dollar Debit Card In Nigerian Banks

What Is Dollar Debit Card?

A dollar debit card is a debit card that carries out transactions in US Dollars. It operates like the Naira Debit card, the major difference is that it’s denominated in USD or whatever foreign currencies’ transactions it’s designed to perform.

Some banks in Nigeria have Pound Debit Card, which means that the handler of Pound Debit card can easily use it in the UK and other transactions that support the Great Britain Pounds (GBP).

The need to simplify the process of buying forex in Nigeria came to the fore when Access Bank Plc announced that it launched Dollar Mastercard for Nigerians to have access and spend forex in any part of the world.

But in an actual sense, this is a technology that banks like GTCO and 10 other Nigerian banks already have.

obtain dollar_debit_card_to_access_forex for_pta_bta outside nigeria — Photo credit: GTCO

Benefits of Dollar Debit Card

Holding and operating a domiciliary card has its a lot of advantages most especially for entrepreneurs whose business depend largely on online shopping and importation; for students who want to settle school fees online etc.

You can access your fund 24/7 in any part of the world.
It simplifies online shopping
It’s faster most especially when you have to use it at ATM terminals and PoS
It has a global acceptance
You don’t have to worry about currency conversion
It is secured because it uses Chip and PIN technology to block unauthorised transactions.

The fact that it is secured doesn’t prevent hackers from breaking its security wall, in a situation where you suspect unauthorised transactions, you can block your card by using USSD codes.

How To Apply for $Card

Open a domiciliary account

Apply for dollar debit card

Daily Spending Limit:

ATM: $1,000

POS: $10,000

Internet/Web: $5,000

Note:

This depends on the bank. Specifically, this spending limit applies o WEMA bank. Kindly check the USD debit card spending limit of your bank.

List of Nigerian Banks That Issue USD Debit Card

It may be called different names, but the foreign exchange debit card performs the same function in the currency it’s denominated.

Below are some Nigerian banks where you can obtain Dollar Debit Card:

GTCO (formerly Guaranty Trust Bank)
First City Monument Bank (FCMB)
First Bank of Nigeria (FBN)
United Bank of Africa (UBA)
Union Bank
Zenith Bank
Stanbic IBTC
Unity Bank
Wema Bank
Providus Bank
Access Bank

If you already have a domiciliary account with your bank, then the process becomes easier. Check the requirements to open a Dom account.

Let’s discuss how to obtain the card from the aforementioned banks

GTCO

GTCO calls it GTBank Dollar Debit MasterCard and the bank makes provision for three available means on how to apply for it:

internet banking,

GTworld,

Physical application

Complete Domiciliary account form at any of its branch

Wait for collection

Note:

Annual Maintenance fee of $10 applies

Zenith Bank

Zenith bank calls it Pounds Sterling and Euro Visa debit Card. It enables its customers to perform international transactions

FCMB

At the First City Monument Bank, it’s called FCMB Dollar Debit Card which is linked to your domiciliary current or savings account.

UBA

At UBA, it’s called UBA Gold Debit MasterCard where all transactions carried out with the Gold MasterCard for Domiciliary Account are debited from your Dollar, Pounds, or Euro account, depending on the currency in which transactions are performed.

Stanbic IBTC

At this bank, it’s called Stanbic IBTC Corporate Credit Card – Dollar

The application process at Stanbic IBTC is slightly different from others:

You must have at least one-month salaried banking relationship with Stanbic IBTC Bank

Or 6 months banking relationship with any other bank in Nigeria

Completed credit card application form

Valid means of ID

Proof of employment and address verification

Salary domiciliation

Unity Bank

It’s called Unity Platinum Debit Mastercard (USD) which is linked to your domiciliary account.

Wema

It’s called Dollar Denominated MasterCard which enables you to define your international spending limits without restrictions.

Access Bank

Access Bank announced its USD Debit Mastercard in October 2021 which it calls Access Travel Debit Card.

Specifically stated that the card can be used to access foreign exchange outside the country in an announcement titled, “Important Update on Personal/Business Travel Allowance”