GTBank Dollar MasterCard: How to Get, Limits and Charges

gtbank dollar mastercard - how to fund gtbank domiciliary account

I recently applied for and got my GTBank Dollar MasterCard and it has been a breath of fresh air. In recent times, it has been very difficult making transactions in foreign currencies in Nigeria due to restrictions on spending limits by banks.

gtbank dollar mastercard

Just over a week ago, GTBank and other banks like UBA and Zenith bank raised the monthly spending limit on its Naira MasterCard to $1000, an upgrade from the previous $100 limit. Even with this new development, there are still some limitations to the Naira MasterCard as it does not work with PayPal anymore. If you are making a payment on foreign websites that charges in dollars, banks like GTBank charge you as much as N380 to $1. If you receiving a wire transfer in dollars to your Naira account, GTBank sells to you in Naira for as low as N315; with explanations above it makes every sense to open a Dollar account and have a Dollar MasterCard

How to Get GTBank Dollar MasterCard in Nigeria – Requirements

First of all, since it’s a Dollar debit card you need to domiciliary account to allow you receive funds in foreign currencies. You need to open a domiciliary account first to get a dollar card; if you do not have one click here to see the full procedure on how to open a domiciliary account with GTBank and other banks in Nigeria.

Now that you have a Dom account, follow the procedures below:

  • Visit any GTBank branch closest to you and ask for the Accounts/Customer Service unit.
  • Tell them you want a Dollar Card. You will be given a GTBank Dollar MasterCard form to fill. Fill the form immediately and give it back.
  • Please note – You must have a minimum of $50 in your domiciliary account for you to request for a Dollar Card.

Your GTBank Dollar MasterCard will be ready after 3 working days; you will be sent an SMS to come pickup at the bank.

How to activate GTBank Dollar Debit MasterCard

Immediately when you pick up the new Dollar MasterCard you will be given a pin paper and an envelope with instructions just like when you are collecting a new Naira debit card. You will be required to call GTConnect immediately to activate the card. In my case, there is a toll free land line inside the bank which I used to call GTconnect.

A GTBank rep will speak to you on phone and ask personal information relating to your account just to confirm if you are truly the account owner. After confirming he will tell you to use one of the ATMs in the bank to change your PIN. After this, your Dollar MasterCard is activated and ready to be used anywhere in the world and online.

GTBank Dollar MasterCard Transaction Limits and Charges

  • ATM Withdrawal – $1000 (or equivalent in local currency of any transaction)
  • ATM withdrawal fee – $3.50
  • Online/POS – No Limit
  • No limitation on spending.
  • $20 Annual Card Maintenance Fee

That’s how you get your GTBank Dollar Debit MasterCard. To use the Card online or anywhere, you will need to move funds to the Card using the Mobile banking app or the Internet banking platform. Henceforth, any transaction you make online will be deducted in dollars.

Posted by Biodun

Passionate about Technology and everything concerning it. Avid Gamer and Music Lover. Loves Chelsea FC. Overall, a nice guy. Find me on Instagram and Twitter.

28 comments

  1. Hi,
    Thanks for the concise and beautiful write-up.

    What exchange rate would apply if you make an “ATM Withdrawal – $1000 (or equivalent in local currency of any transaction)” from the local Naira ATM?

    What would you recommend as the method for receiving the best exchange rate available, compared to the example of GTBank selling to you in Naira for as low as N315 as against their selling it to you for foreign payment charge of as much as N380 to $1?

    Thanks.

    • I haven’t tried to withdraw with the Dollar Card from local ATMs and I doubt if the ATMs would actually dispense Dollar. Even if the ATMs dispense Dollar, it’s dangerous security-wise to withdraw outside, I normally go inside the bank and fill the Dollar withdrawal form to withdraw the amount I want, after which I now call my Mallam who gives me N360 to $1.

  2. Hi , i obtained my gtb dollar mastercard but can’t seem to use it to shop online , don’t know if its the Billing Address that has issues cos I’m shipping to an address in the US. Please kindly help if you can

  3. Do you know what rate is used if you want to deposit naira into the account? It’s a dollar account so they have to convert the naira to dollar. What rate is used?

  4. Linking my GTB dollar card to PayPal account does it mean whenever I make payments online the cash will be deducted from my GTB dollar card or from my PayPal account

  5. Hello…Are you sure this still works? I am getting a “This card is not accepted. Please use a different card.” error message. Got my dollar master card today.

      • Okay, great it works then. I should probably check in with my the bank then, maybe the account is not activated. Do domiciliary accounts allow Naira deposits? or do have to go convert it first.

  6. Can I receive a wired transfer from the US to my saving Naira account?? And what are the details to receive a dollar wire transfer to my Savings account??

  7. What can you do with your domiciliary account without having a dollar card. Can you withdraw on the counter or do transactions online without a card?

  8. Hi biodun thanks for your post I have been wondering why am not having access to send or receive internet or online transactions.
    Am an afiliate and internet marketer will like to see your post more as I have know what to do next when receiveing or making online transactions.
    Thanks

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