List of Nigerian Banks with Hidden Charges on USD Card Transactions

I will be listing Nigerian Banks that charge hidden/fraudulent charges on FCY Transactions that you might find hard to detect until you cross-check your Bank statements.
All listed Banks has been tested by me with Evidence at time of writing, so if you have any questions or counter claim, you can use the contact form or comment box below.

1. GTBank: 0.2% of the transaction value.
   i.e If you're doing $1,000 transaction, you would need $1,002 in your account, otherwise the transactions won't go through.
    GTbank charges an hidden charge of 0.2% on all FCY transactions, however they seem to refund this charge after the merchant finally deduct the real value.

2. UBA (Mastercard): 1% of the transaction value or minimum of $0.22 with 5% VAT.
    i.e If you're doing $1,000 transaction, you would need $1,010 in your account, otherwise the transactions won't go through.
    UBA charges an hidden charge of 1% or Minimum of $0.22 with 5% VAT on all FCY transactions on their Mastercard and they DO NOT refund the money.

3.  Diamond Bank PLC: $5 on some specific FCY Transactions.
    i.e If you're doing $1,000 transaction, you would need $1,005 in your account, otherwise the transactions won't go through.
     Diamond Bank charges an hidden charge of $5 on some specific FCY transactions and they DO NOT refund the money.

More banks will be added as they become available. I advice you trade with caution with the above banks when it comes to FCY transactions.



NB: None of this charges are stated on the card issuance Terms and Conditions or on their website, hence the need to bring this up to the public and a call for CBN to address the issue.