See The Current UBA Dollar Exchange Rate On Its Naira MasterCard For Foreign Transactions

One of the things that Nigerian banks will not ordinary want to tell their customers is the dollar exchange rate on their Naira MasterCard when used for foreign transactions and most times you just have to figure it out yourself by testing it out or using the MasterCard to shop on online sites, after which you can do the calculation.

Maybe the reason for keeping some of the rates secret is because instead of commercial banks in the country to set the dollar exchange rate on their Naira cards to CBN approved standard inter-bank exchange rate, some of the banks will even end up charging you even higher than what is obtainable in the black-market currency exchange wing.

And I decided to use my UBA Naira MasterCard to shop on foreign sites and also to know what the current dollar exchange rate is on UBA MasterCard.

Must Read: UBA massively increases transaction limits on its Naira MasterCard for foreign transactions

After shopping and doing the calculation, I found out that UBA currently charges N363 per dollar on its Naira MasterCard for online foreign transactions.

So if you are banking with UBA and you intend to carry out foreign transactions with your UBA Naira MasterCard, you should have it at the back of your mind that UBA will charge your card presently at N363 per 1USD rate, and with that you should know the exact amount that will be exiting your account when using your UBA MasterCard currently for online shopping.