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Zenith Bank has revealed that it would temporarily suspend international ATMs and point of sales (POS) transactions.
The bank made this statement In a note sent to its customers on Wednesday which was seen by Moneycentral.
“Dear Valued Customer, Please be informed that we have temporarily suspended the use of Zenith Bank Naira cards for Automated Teller Machine (ATM) cash withdrawals and POS transactions,” the statement partly read.
Zenith bank joins it’s competitor, United Bank for Africa (UBA) to reduce it’s international spend limit on their Naira debit cards down to $20 from $100. The bank credited the review as a response to present “economic realities.”
“Additionally, the monthly card International spend limit for web transactions has been reviewed from US$100 to US$20. This review is in response to today’s economic realities,” the statement said.
The Bank further advised it’s customers with higher spending requirements to visit their nearest Zenith Bank branch and request for a foreign currency debit or prepaid card, which will be available in US Dollar, Pounds and Euro variants.