Commercial banks in Nigeria are selling Forex – dollars, pounds, euros – to their clients or customers who make use of their naira Mastercards for online transactions.
Already, you know the goodnews: you can buy anything you want from anywhere around the globe. The bad news is this: it is difficult to know how much your bank will charge you for each transaction.
As a consumer, you cannot really control how much your bank will charge you. But, do you know that you can control the bank you do business with?
The moment we are able to figure out and know the bank that sells dollars, pounds, euros, and other currencies at a cheaper rates, then we begin to patronize that bank.
How can we know the Nigerian bank that has the cheapest mastercard dollar to naira exchange rates in the country?
We can know the bank with the lowest and affordable exchange rates when we share information on how much our banks charged our mastercards when we made transactions online.
For example, as of Friday June 2nd, 2017, the cheapest bank where you can access Forex in Nigeria is Acess Bank. Access bank has a fixed dollar to naira exchange rate of N375 for the past one month.
So, go and patronize Access Bank today for all your online transactions and forget about the other banks in Nigeria who are charging higher than N375 per dollar.
Though Access bank is the best bank to patronize at the moment, there may be other banks who may offer dollar to naira rates cheaper than N375.
Our Job for today is complete; over to you. Did you carry out any transaction online today with your Mastercard, kindly post on the comment box how much you were charged by your bank.
Did you buy anything online today? Did you renew your subscriptions or your bills with your Mastercard? Use the comment box to share how much your bank charged you for the transaction.
Are you a Zenith bank customer, First bank of Nigeria customer, Diamond Bank customer, Access bank customer, UBA customer, Guaranty Trust Bank customer, Stanbic IBTC bank customer?
Kindly use the comment box to post the mastercard exchange rates of the aforementioned banks and other Nigerian banks.
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