CBN Blocked All ATM For Abroad & Online Transaction – See Best Alternatives Now

Last year (2015) CBN impose Policy that Prevents the Use of ATM Cards Abroad. Inline with CBN directive, the Policy will commence from 1st January, 2016. Incase you don’t know the policy, read on.
Firstly, the policy will prevent those with Naira dominated ATM cards from using their ATM cards outside the country on all types of transactions ranging from withdrawal transaction to online transactions and to POS transactions etc.

But if your ATM card is dominated in foreign currency, let’s say in Dollars, you will not be affected by the policy while abroad as you can still carry out all your transactions there with your Dollar dominated ATM card.

Secondly, while in Nigeria, the policy prevents the use of your Naira dominated card on any transactions that is not in Naira, for example, you will no longer be able to use your Naira ATM cards to transact on online shops that accepts only foreign currencies like E-bay, Amazon, AliExpress, Godaddy etc. but you can still use the cards on online shops like Jumia, Konga, Slot etc. that accept Naira payment.

On the reversal, if you are using foreign currency dominated ATM card, you can no longer do a ATM withdrawal transaction with it here in Nigeria but you can use it to transact on those online shops that accept only foreign currencies.

As at the time of publishing this post, rate of exchange of dollar with bank in Nigeria is very high, e.g GTBank N270.50 per dollar. This is the highest so far and it’s getting worst.

Although I don’t really know if it will affect PayPal account owners since your account is already verified and it’s linked to your Master card but there are lots of alternative you might want to try out. See how to open a Nigerian PayPal Account in Few Seconds 

See Alternatives To CBN Policy that Prevents the Use Of ATM Cards Abroad
1. Dollar Master Card – Those of you making use of GTBank, and you have a dollar account, you card just walk into any GTBank branch closer to you and demand for Dollar Master Card. As at my last enquiry, it’s goes for $50. With this dollar master card, you can do everything online, foreign site and even withraw in naira using the local atm machine.

See more details on how to get your GTBank Dollar Debit MasterCard (USD)

2. Zenith Websurfer Master Card – Websurfer is a moderately good brand of MasterCard issued by Zenith Bank. Websufer is not a credit card that you can use to withdraw cash from the ATM machine. It is a low limit card that can only be used  on the internet.
Things you will have before going to the bank are:
i. One recent pa$$port photo
ii. Valid National ID Card or otherwise
iii. At least $150 cash

Just walk into any head Zenith bank, meet their customer service and request for a websurfer account opening form. You can also fill the form online here

3. PaYoneer Master Card – This card is free of charge and anybody who live in a house, has a smartphone and browse the internet can simply order for this card abroad for free. It will be deliver to your location maximum 3weeks.
See more about Payoneer Master Card and how to get your own within three weeks here.

Please if you have other alternatives, kindly list them below using the comment box.


  1. As for that payoneer mastercard, I registered and I was told they have shipped out my card, but I never got any.

    I was told twice that my card was shipped out.

    1. Have you checked if your Card have been shipped to the address you filled when applying???
      I got mine own like four weeks after i applied

  2. Thank you so it 's very necessary for all of us need to know more
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