Guaranty Trust Bank has raised the international spending limit on its naira cards by 500% from $1,000 to $6,000 per quarter.

In a notice to customers on Monday, November 10, the bank said the new limit would be reviewed periodically in line with market conditions.

GTBank message to customers read:

"International payments on your GTBank Naira Card today, 11-11-2025, are N1,444. Please note that the dollar spending limit on your naira Card is now $6,000 per quarter. This rate is subject to change in line with prevailing market conditions."

The increase limit by GTbank follows the rise in foreign exchange liquidity.

You will recall that in July 2025, Nigerian banks restored international card usage after months of suspension, with different limits across institutions.

GTBank’s cap at that time was $1,000 per quarter, allowing withdrawals of up to $500 from ATMs abroad and total online or POS spending of $1,000 within three months.

While First Bank set a $500 monthly limit, allowing ten international ATM withdrawals monthly, each attracting a N5,000 fee, and up to twenty POS or web transactions at no additional cost.

Meanwhile, GTBank’s foreign exchange rate for international card transactions on Tuesday, November 11, has been increased to N1,444, up from N1,442 per dollar on Monday.

Expert insight dollar limit on naira card

Speaking on GTBank’s dollar limit increase, Ayokunle Olubunmi, Head of Financial Institutions Ratings at Agusto & Co., said the review was not a directive from the Central Bank of Nigeria but an internal decision by the bank based on available liquidity.

He explained that each bank assesses its foreign currency position and sets transaction limits accordingly, BusinessDay reports.

Olubunmi noted that banks had earlier reinstated the use of naira cards for international transactions voluntarily after accumulating sufficient foreign exchange reserves to support them.

GTBank’s latest review, along with similar actions by other banks, signals renewed confidence in dollar supply and greater stability in the foreign exchange market after months of scarcity and volatility that disrupted cross-border payments for naira card users.