GTBank Gives Customers New Withdrawal Limit for Online, POS Transfer

• Guaranty Trust Bank has set a new $1,000 quarterly limit on international transactions using its naira cards, including a $500 cap for ATM withdrawals abroad.
• The bank clarified that this limit applies to all forms of foreign transactions such as online purchases, POS payments, and ATM withdrawals
• Wema Bank and UBA have resumed allowing international transactions on their naira cards after nearly three years, with UBA enabling this service on its premium card variant

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Guaranty Trust Bank (GTBank) has announced a new transaction limit on its naira cards.

In an email to customers, the bank stated that holders of GTBank naira cards now have a quarterly limit of $1,000 for international transactions.

Providing further details, the bank explained that ATM withdrawals abroad are capped at $500 per quarter.

Additionally, online and POS transactions are limited to $1,000 quarterly.

The bank noted:

“Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria and more.”

Meanwhile, Legit.ng earlier reported that Wema Bank and United Bank for Africa (UBA) had separately announced the resumption of foreign transactions on their naira cards.

This development comes after nearly three years during which several banks had suspended foreign transactions using naira debit cards.

In a recent notification to customers, UBA stated that the resumption aligns with its ongoing commitment to offering smooth and enhanced banking services.

“In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA premium naira cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the statement reads.

“This means you can now use your premium naira card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA Premium cardholder.”

Nigerian Bank Kicks Off Verification for YEIDEP

Legit.ng reported that the Youth Economic Intervention and De-Radicalisation Empowerment Programme (YEIDEP) has advanced to a significant phase as of October 2025, particularly for beneficiaries associated with Union Bank.

In the latest update, Union Bank has become the first financial institution to finalise the collection of bank account details for YEIDEP participants, marking a major step forward in the process.

Recall that recently, the FG through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) launched a conditional grant of up to N50,000 for micro enterprises.

Source: Legit.ng