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See The Exchange Rate for 5 Dollars Online Payment I Made With Mastercard Naira Debit Card
While the MasterCard Naira debt cards issued by some Nigerian banks have stopped working for online international transactions, GTBank Naira MasterCard is still working fine for online payments, although the bank has reduced the monthly international spend limit.
Below is the screenshot of the most recent payment I made with my GTBank MasterCard Naira Debit Card.
I was charged N1,600 for 5 US Dollars when I paid for my Google for work subscription. Hence, the MasterCard conversion rate from dollar to Naira is like N320 per dollar.
I think this is still fair compared to the Naira MasterCard exchange rate in September & October 2016.
If you’re a blogger that earns in dollars, I think it is now cheaper to pay in Naira if you can get someone in the black market to buy your dollars at a rate higher than N400 per dollar. Let’s assume you sell $100 @ N400 per dollar, you will have N40,000. Now, if you pay online with Naira debit card and GTB charges you N320 per dollar, that means you will pay N32,000 for a $100 transaction. Hence, you save N8,000. Cool…huh?
Anyway, if you don’t want to go through the stress of making online payments with Naira MasterCards, you can get the Nigerian dollar MasterCard from your bank. It allows you to easily make online international payments without the constraints placed on the Naira MasterCard.
You can as well apply for Payoneer MasterCard. It is free of charge. You can fund the Payoneer card in Nigeria and you can even withdraw your Payoneer funds from ATM in Nigeria.
How much were you charged when last you used your GTB MasterCard for international transactions?
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22 responses to “See The Exchange Rate for 5 Dollars Online Payment I Made With Mastercard Naira Debit Card”
I haven't made any transactions recently though.
From Entclass.com
How do I fund payooner in Nigeria. Most people i see are only buying, they hardly fund.
I was charged 320 last week too using the same Gtbank naira master card
Let's Just hope the naira can just keep appreciating..
Commenting From.. yomitech.com
I buy and fund too bro…
Why majority don't fund is due to the rate. Its usually very expensive and people tend to shy away from it.
Apart from that, they'd rather buy and hoard or convert since it could be more profitable to them that way. But not to worry.
I buy mostly but can fund your payoneer aswell.
how do u make purchase using your payoner MasterCard
Thanks be to God.
Nice post
Commenting from HackersDenThis is a welcome development. I hope they can at least keep it at that rate for a long period. Thanks for the information.
If demons can bow at the mention of BABAJIDE, who then is GTBANK?
Well am impressed, I know it's the hand work of my favorite president Buhari.
Last time I ran FB ads, a went bankrupt. I swear they cut my neck.
how do u make purchase using your payoner MasterCard
From: Naijasuregist.com
Thanks bro, this info will realy come in handy
This thing really scared me
Comment from
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Great! Noticed it recently when i made a $25 transaction and was charged #7,900.
Lets hope for the best…
I wish its still same till now, I wanted to using my card.
Thanks
The best is yet to come. I believe things will get better
Nigeria is still going to be better one day, i always believe that.
GTbank charges is too much
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