Guaranty Trust Bank (GTB) International Spending Limit on Mastercard is $100 in 2021

Nigeria’s leading financial institution, Guaranty Trust Bank (GTbank), has said its international spending limit on Mastercard for 2021 remains $100 per month given the current economic situation.

The lender reduced its international spending limit from $3000 per month to $1,500 in March 2020 during the peak of COVID-19 when Nigeria’s foreign reserves plummeted because of the drop in crude oil price to $15 per barrel.

In March 2020, GTBank said, “We would like to inform you that the monthly spending limit on your GTBank Naira Mastercard has been reviewed from $3,000 to $1,500 for your international online and POS transactions effective March 25, 2020”.

Later in the same month, GTBank further reduced the international spending limit on its MasterCard to $500 before finally reducing it to $100 on August 11, 2020.

Since then GTB international spending limit has remained $100 per month, even in 2021.

In an email to Investors King last month, the bank said “Please note that the monthly international spending limit to our card transaction is $100.”