Access Bank has created dollar debit cards that customers can use in accessing foreign exchange outside the country.
In an email sent to customers, the bank informed customers of the creation of the Access Travel Debit Card which allows holders to access foreign exchange for legitimate needs while outside the country.
This card would be effective from October 18, 2021, only legitimate payments and approved PTA will now be credited to the Access Travel Debit Card for use outside Nigeria.
The mail reads: In compliance with the directive of the Central Bank of Nigeria to all Deposit Money Banks on ensuring fulfilment of legitimate FX requests for PTA/BTA, we have created an easier process to access FX via the Access Travel Debit Card.
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“All unutilized funds remain in the card and can be used for international transactions or subsequent trips. Effective October 18, 2021, all payments of legitimate and approved PTA will now be credited to the Access Travel Debit Card for use outside Nigeria.
“On request, you can also get cashback in Naira equivalent using the prevailing approved rate.”
This move shows that the Nigerian commercial banks are becoming more innovative in handling the dynamics of foreign exchange demand in Nigeria. Hence, it would go a long way in meeting the need of well-meaning Nigerians.
The CBN had earlier directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of foreign exchange to meet legitimate forex requests of their customers.
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In complying with the CBN’s directive, deposit money banks in the country swiftly moved to set up teller points within their banking halls to attend to the forex needs of customers.
The CBN had also directed that travellers who buy foreign exchange from banks for travel purposes but fail to embark on the trip after 2 weeks of their scheduled travel date must return the forex to the banks or face prosecution.