TheCable

United Bank for Africa (UBA) has adjusted its domiciliary MasterCard limits and fees. 

In a notice sent to customers, the financial institution said the move is part of its commitment to keep customers updated on changes that may impact their service.

Outlining the new limits, UBA said for its euro cards, the daily automated teller machine (ATM) withdrawal limit on its gold MasterCard is €1,000, the daily web limit is €3,000, and the daily point of sale (POS) limit is €3,500. 

For its platinum MasterCard, the bank said the daily ATM limit is €1,500, daily web limit is €5,000, and daily POS limit is €5,000.

Also, UBA said its world MasterCard has a daily ATM limit of €1,500, web limit of €8,500, and POS limit of €15,000.

For its pound cards, the bank put its daily ATM limit for gold, platinum, and world MasterCards at £1,200.

According to the outline, the daily web limit for gold cards is £3,000, platinum card is £5,000, and world MasterCard is £7,500. 

UBA said customers would get £3,000 for the daily POS withdrawal limit on their gold card, £5,000 on platinum cards, and £15,000 on world MasterCards.

For dollars, the bank capped its ATM limit for gold at $1,000, while plantium and world MasterCards users would not be able to withdraw more than $1,500, respectively per day. 

According to UBA, the daily web limit for a gold MasterCard is $5,000, platinum card is $6,000, and a world card is $10,000.

The bank said its daily ATM POS limit is $5,000 for gold MasterCard users, $10,000 for platinum customers, and $20,000 for world MasterCard users.

Meanwhile, the bank said ATM cash withdrawal or POS cash advance fee will attract “0.6 percent of transaction amount subject to a minimum of $3.5 or equivalent per withdrawal (VAT Exclusive)”.

UBA said 2.5 percent of the transaction amount would be payable when a card is used for other currency transactions.

For short message service (SMS), customers will pay  $0.01/equivalent in other currencies.

The review by UBA comes after International Money Transfer Operators (IMTOs) disclosed in a report on February 9, that they would halt dollar transfers to Nigerians due to a directive from the Central Bank of Nigeria (CBN).

“In compliance with a recent directive from the Central Bank of Nigeria (CBN), we regret to inform you that Sendwave, along with all money transfer operators, is no longer able to support USD transfers to Nigeria. We’d encourage you to switch to sending Naira transfers instead,” Sendwave said.

Another IMTO, Worldremit, said transfers would not be paid out in dollars.