Naira card foreign transaction limits have been lowered by all Nigerian commercial banks to the most absurd figure we have ever heard of: "$20/month." Some even descended farther than this.
Due to the limit problem, consumers can no longer transfer money overseas or use their Naira cards online.
The only method to overcome this difficulty is to get a functional USD Dollar Debit Card, fill out the account/card, and spend it as you like online and worldwide.
What is Barter by Flutterwave and How Does It Work?
Barter is a mobile and online application that enables users to send and receive money from anywhere globally.
It was created and is entirely sponsored by the massive startup Flutterwave.
The exchange of funds happens swiftly, securely, and at the most affordable exchange rate.
Your money is kept in your Barter wallet after establishing an account.
What you may do from your Barter account is as follows:
- Instant transfer from barter to barter (P2P) (Free)
- Your USD/Naira Dollar card with money
- Money from outside and locally received
- Pay your bills, such as those for power, cable TV, garbage, and other services.
- Use your virtual Naira/USD card to make online purchases.
- and so forth
How to Create and Use A Barter Virtual USD Dollar Card
Barter virtual cards are essentially digital cards that you may use for domestic and international transactions. It is a MasterCard offer, a virtual card.
If you enrolled from Nigeria, a Barter Naira card is automatically produced; you don't need to make one. It is necessary to generate the USD Dollar Card.
Therefore, there is no need to be alarmed that the Barter Naira card was produced automatically.
The following instructions will help you generate a Barter USD virtual dollar card in the quickest time possible:
- Pull Cards
- Click "+ New Card" in the upper right corner of your device.
- choose a card type (Virtual card)
- Swipe to Select a Gift Card or Virtual Card
- Select the colour of your card and the name that will be written on it.
- There is a $2 issuance charge. Your account will be charged the cost in Naira.
How to Create an Account on Barter and Get Started
Barter's sign-up procedure is simple and fast. I completed it in three minutes.
The OTP that I received over WhatsApp made everything simpler, free, and quicker.
Here is a simple step on how to register for a Barter account on the app or website:
Barter may be downloaded through the iOS or Google Play stores.
- Tap Make a User Account
- Make a User Account
- Type in your email address and phone number.
- Your WhatsApp number will get an OTP code immediately.
- Choose the code, then answer with it.
- Choose the code, then answer with it.
- Type your entire name exactly as it appears on BVN.
- Select a password.
Your Barter wallet is instantly produced for you in the local currency of the phone number you used to register.
For example, if you registered using a Nigerian number, your wallet will be established for you in Naira as well.
When logging in for the first time, you must provide your BVN and date of birth to confirm your account.
After completing this, another OTP (one-time password) will be provided to your WhatsApp account, and you will then be instantly validated.
It's done finally. You will need to provide your password and either your email address or phone number each time you need to check-in.
How to Use Barter to Send Money to Nigeria
The only practical alternative at the moment is cash pick-up due to the latest CBN rule directing all IMTOs to limit beneficiaries of money from overseas to receiving USD exclusively:
Receivers may physically pick up cash at a nearby pick-up location nationwide using the USD Cash Pick-up delivery option.
Please be aware that, per CBN regulations, cash may only be collected in USD.
How can I start a transaction for USD Cash Pick up to Nigeria?
In order to start a USD Cash Pick-Up Transfer to Nigeria, please follow these instructions.
- Start the Barter App.
- To send money, click.
- To send money abroad, click.
- Enter a number
- Decide on USD Cash Pick-up.
- Provide beneficiary information (recipient name, recipient address)
- Residential Address, Contact Information, and Email
- Choose the UBA or Zenith Bank pick-up location of your choosing.
- Check the transaction summary to make sure the information is accurate.
- To finish the transaction, enter your Transaction Pin.
The transaction will be ready for pickup in a matter of minutes.
Please be sure that all of the information you provide is correct, and that the recipient's name matches the name on a valid form of identification.
For the sender to share with the receiver, a Special Reference Code will be created.
To ensure a recipient's pickup goes well, this is crucial
What is the relationship between Barter by Flutterwave and Flutterwave for Business?
Businesses that use Flutterwave to accept payments may choose from a number of payment options, including Barter by Flutterwave.
Due to this, a Barter consumer may quickly pay the Flutterwave company by logging into their account.