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Wednesday, February 8, 2023

What you need to get BTA, PTA dollars from Stanbic IBTC Bank

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If you are travelling or making payment for school fees soon, here are the items you need to get dollars from one of Nigeria’s largest Bank, Stanbic IBTC.

Applying for foreign currency for Personal Travel Allowance (PTA), Business Travel Allowance(BTA) and School Fees payments can be done at any of the bank’s branches nationwide.

To qualify for PTA/BTA application, customers should have these requirements:

  1. Applicants should be 18 years or older.
  2. A valid Nigerian passport
  3. An active Stanbic IBTC bank account
  4. Completed Form A with all necessary travel details
  5. PTA/BTA are for flights that originate from Nigeria
  6. PTA / BTA can only be purchased for trips that will happen within 14 days from the day of purchase of PTA
  7. A valid Biometric Verification Number [BVN]
  8. Each applicant is entitled to only $4,000 [PTA] and $5,000 [BTA] or its equivalent per quarter [e.g. January – March]
  9. Applicants for BTA are required to submit a written instruction on the company’s letterhead in addition to the requirements listed above.

The requirements for School Fees (Universities only) payment are:

  1. Payments will be made directly to the university’s account
  2. Applicants can get a maximum of $15,000 or its equivalent per semester
  3. Applicants shall be recognized parents/guardians
  4. A valid Bank Verification Number [BVN] must be provided
  5. The following documents must also be provided:
      • Duly completed Form “A”
      • Admission letter from the University
      • Invoice from the University.

It is however important to note the following exceptions:

  • Travel within West African regions and Cameroun does not qualify for PTA.
  • BTA and PTA cannot be processed with the same ticket
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