Finance

Access, First Bank others begin PTA/BTA disbursement with dollar cards

Dollar up as Biden confirms re-election bid

Access Bank, FirsBank have informed their customers that effective immediately, Personal Travel Allowances (PTA), Business Travel Allowances (BTA), and other foreign exchange purchases would only be disbursed via a dollar travel card.

Apart from the two banks that made a formal announcement to their customers, other banks had silently commenced card disbursement for customers who already had existing travel cards without making a declaration.

Read:  Nestlé Nigeria launches 4th phase of rural women empowerment

This is all in a bid to reduce the demand for cash and check customers who capitalise on the arbitrage.

FirstBank in a statement to its customers stated, “The full Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) of $4,000 and $5,000 respectively will now be disbursed into your FirstBank Travel Card. All applications will be in line with Regulatory Requirements.

“Kindly ensure that all PTA/BTA applications along with the approved Form A are submitted at the branch exactly 14 days before your proposed travel date. Sales is limited to two quarters a year.”

Access Bank in a statement to its customers stated, “We would like to once again inform you that we disburse authorised personal and business travel allowance FX requests through our Access Travel Debit Card. The Access Travel Debit Card has been created to enable you to transact seamlessly when you travel abroad.”

Read:  Sovereign Trust Insurance’s profit rises by 42%

It added with this process, customers can get instant issuance for PTA/BTA requests, easy access to international transactions via online, POS, and ATM and that the card is valid for 3 years and is usable for current and future PTA/BTA requests during its validity.”

Read:  Nigeria, others to receive fresh $150b from World Bank

Thisday

Related posts

Standard Chartered to launch crypto exchange services

NigGal

‘Digital payments boost Nigeria’s economy with $3.3b’.

NigGal

Wema Bank joins Nigeria’s 30 largest active companies

NigGal

Naira exchange rates September 2022

NigGal

Banks pay N80.2bn taxes to FG in H1

NigGal

UBA’s Leo clocks 4, set to further transform digital banking in Nigeria, Africa

NigGal

Leave a Comment