The GTBank Dollar MasterCard is what I now use to make online payments in Nigeria on websites that bill me in US dollars. Hence, no need for converting Naira to dollar when making making payments online at those sites. So far, I've successfully used it to pay for Google & Facebook ads, web hosting, domain registration, Google apps for work, MadMimi subscription etc
Using the GTBank Naira MasterCard makes no sense to me anymore because of the current Central Bank of Nigeria (CBN) monetary policy which allows the Naira to float against the US dollar at the inter-bank market, rather than holding on to a fixed peg. What this simply means is that your bank can charge you N330 per US$ today and N410 per US$ the next day. So, to avoid stories that touch the heart, I decided to go for the Dollar MasterCard and also considering the fact that I earn online in US dollars, I didn't have to think twice.
One thing I so much like about the card is that it is NOT linked directly to my GTBank domiciliary account. A separate account was created for the card. I have to move funds to the card by myself from my dorm account to the card's account whenever I need dollars for my online payments. Cool, isn't it?
My GT bank dollar debit card is customized with my name. The card number & expiry date appear at the front of the card while the 3 digit Card Validation Value (CVV2) is printed on the reverse side of the card, beside the signature panel. Validity of the dollar card is 2 years.
Getting the Dollar MasterCard by GTBank is quite easy if you already have a dollar (dom) account with GTBank. You only have to go to the nearest branch to fill the GTBank Dollar Debit MasterCard application form and ensure you have a minimum balance of $50 in your GTBank dom account. You can as well request for the application form to be sent to you via email, fill and scan back to your GTBank account manager.
For non-account holders, you will be required to open a GT bank dollar domiciliary account with the following documents:
Once you get the card, do not change your PIN immediately. You will have to activate it by calling GTCONNECT after which you can proceed to change the PIN. You can ask the customer care rep to direct you to where you can call card services for the activation of your card instead of using your personal phone. On the GTBank phone, you will see the number to dial for you to be able to talk to a rep that will activate your card.
The GTBank card services rep will ask for your bank account number, date of birth, number of accounts on your GTBank profile, name of the last person that paid into your account and amount, the most recent payment you made on your account and other questions just to confirm that the account truly belongs to you.
The rep will then tell you to wait for 10 or 15 minutes before changing the PIN. Once you successfully change the PIN of the GTBank Dollar MasterCard, you can start using it to pay online from Nigeria and anywhere in the world.
Transaction Limits
==> ATM Withdrawal: $1000 (or equivalent in the local currency of any transaction)
==> POS: No Limit
==> Web (Online): No Limit
Charges
NB: The charges are printed on the introduction letter enclosed in the white envelope which also contains your default pin and dollar card.
That's all.
If you know other dollar cards issued by banks in Nigeria that are better than this or have questions to ask, feel free to use the comment form.
Recommended : How To Fund GTBank Dollar Mastercard
Using the GTBank Naira MasterCard makes no sense to me anymore because of the current Central Bank of Nigeria (CBN) monetary policy which allows the Naira to float against the US dollar at the inter-bank market, rather than holding on to a fixed peg. What this simply means is that your bank can charge you N330 per US$ today and N410 per US$ the next day. So, to avoid stories that touch the heart, I decided to go for the Dollar MasterCard and also considering the fact that I earn online in US dollars, I didn't have to think twice.
One thing I so much like about the card is that it is NOT linked directly to my GTBank domiciliary account. A separate account was created for the card. I have to move funds to the card by myself from my dorm account to the card's account whenever I need dollars for my online payments. Cool, isn't it?
My GT bank dollar debit card is customized with my name. The card number & expiry date appear at the front of the card while the 3 digit Card Validation Value (CVV2) is printed on the reverse side of the card, beside the signature panel. Validity of the dollar card is 2 years.
How Can I Get Dollar MasterCard by GTBank in Nigeria?
Getting the Dollar MasterCard by GTBank is quite easy if you already have a dollar (dom) account with GTBank. You only have to go to the nearest branch to fill the GTBank Dollar Debit MasterCard application form and ensure you have a minimum balance of $50 in your GTBank dom account. You can as well request for the application form to be sent to you via email, fill and scan back to your GTBank account manager.
For non-account holders, you will be required to open a GT bank dollar domiciliary account with the following documents:
- Completed (USD) Domiciliary account form,
- 2 (Two) Referees,
- 1 (one) recent passport photograph,
- a recent Utility Bill,
- a copy of your Driver's License or International Passport and
- minimum opening balance of $50.
How To Activate GT Bank Dollar MasterCard?
Once you get the card, do not change your PIN immediately. You will have to activate it by calling GTCONNECT after which you can proceed to change the PIN. You can ask the customer care rep to direct you to where you can call card services for the activation of your card instead of using your personal phone. On the GTBank phone, you will see the number to dial for you to be able to talk to a rep that will activate your card.
The GTBank card services rep will ask for your bank account number, date of birth, number of accounts on your GTBank profile, name of the last person that paid into your account and amount, the most recent payment you made on your account and other questions just to confirm that the account truly belongs to you.
The rep will then tell you to wait for 10 or 15 minutes before changing the PIN. Once you successfully change the PIN of the GTBank Dollar MasterCard, you can start using it to pay online from Nigeria and anywhere in the world.
GTBank Dollar MasterCard Charges and Transaction Limits
Transaction Limits
==> ATM Withdrawal: $1000 (or equivalent in the local currency of any transaction)
==> POS: No Limit
==> Web (Online): No Limit
Charges
- Card Issuance Fee: $20
- Annual Fee: $18
- ATM Withdrawals: $3.50 per withdrawal
- POS & Online transactions: Free
- POS cash advance: $6.25 + 0.1% of transaction amount
NB: The charges are printed on the introduction letter enclosed in the white envelope which also contains your default pin and dollar card.
That's all.
If you know other dollar cards issued by banks in Nigeria that are better than this or have questions to ask, feel free to use the comment form.
Recommended : How To Fund GTBank Dollar Mastercard
This is great. Is it only on GTBank that you can get dollar MasterCard ?
ReplyDeleteCapital NO! You can get one from any bank of choice. Although i'll recommend the top/popular ones like zenith, firstbank, access etc
DeleteThe ATM Withdrawals: does it allow dispense of $$ Notes, or just Naira notes?
ReplyDeleteI just activated my Dom account to enable me request for the $ master card. I approached Zenith for their $ card, they told me I can't fund the card from Nigeria. According to them, you can only receive payment but you are not allowed to pay into the card. I Approached GTB and they made it easier for me. I have some payments to make over two weeks now but I can't because of the Naira Mastercard issue. Thank God for GTB though the crowd in their bank is scary.
ReplyDeleteI will sure get mine ASAP! Jide, please do you have a very good tutorial on how to run Facebook ads successfully in order to drive traffic to a website. (Pros & Cons) ...?
ReplyDeletei seriously need this
ReplyDeletewow such a creative one by Gt bank i rili need this stuff badly thanks for the info
ReplyDeletewill seriously neeed this. I don't know such facility exist. Thanks for always here to help Nigerian bloggers.
ReplyDeletePls how much GTBANK exchange naira to dollar when using ur dollar master card?
ReplyDeleteCan I link my GTBank dollar card to my PayPal account to receive payment?
ReplyDeleteYou sure can Gabriel...
DeletePlease can I use the GTB Mastercard to purchase flight tickets online at 3000 dollars?
ReplyDeleteCan one withdraw dollar in cash from the bank?
ReplyDeleteplease i want to make dollar payment online.405 usd precisely. i only have a naira account with gtb and my naira mastercard. what is the best way to do this?
ReplyDeletevery awesome
ReplyDeleteThis is very detailed, thanks for the information
ReplyDeleteHow to fund my domicialry account through my gtbank saviings account please reply back
ReplyDeleteI understand quite right that minimum opening balance for Gtbank domiciliay account is 50$. My question is can I withdraw that my available balance can go down as low as 10$ to 20$.
ReplyDelete