Recently, all Nigerian commercial banks reduced their Naira card international transaction limits to the most ridiculous amount we ever heard of – “$20/month”. Some even went lower than that.
This means people are no longer able to send money abroad, or use their Naira cards online due to the limit issue. However, the only way to go around this challenge is to get a functioning USD Dollar Debit Card, fund the account/card, and use it online and internationally as you wish.
This brings us to one of the most efficient, and the most seamless international money transfer apps that exists. We are going to find out how to create an account with Barter by Flutterwave and also get a USD Dollar virtual debit card to use for all international transactions.
What is Barter by Flutterwave and How Does It Work?
Built and fully supported by the giant startup Flutterwave, Barter is a mobile and web application that lets its users send and receive money from anywhere in the world. The money transfer is done instantly, safely, and at the cheapest possible foreign exchange rate.
Once you have an account, all your money is housed in your Barter wallet. From your Barter account, you can do the following:
- Barter-to-Barter instant transfer (P2P) (Free)
- Fund your USD/Naira Dollar card
- Receive money from abroad and locally
- Pay bills and utilities e.g. electricity, TV cable, waste, and so on
- Shop online via your Naira/USD virtual card
- And so on
How to Get Started/Sign-Up/Register an Account on Barter
The sign up process on Barter is seamless and quick. I got it done within 3 minutes…the OTP coming through my WhatsApp made it all easier, free, and faster.
Here’s a quick guide on how to create an account on the Barter app/website:
- Download Barter from your iOS or Google Play Store
- Tap Create an Account
- Enter your Email and phone number
- An OTP code will be sent to your WhatsApp number instantly. Pick the code and respond with it
- Enter your full name as you have it on BVN
- Choose your password
A Barter wallet is immediately created for you in the local currency of the phone number you used in registering e.g. a Naira Barter wallet will be created for you if you registered using a Nigerian number.
Logging in for the first time, you will be required to verify your account by entering your BVN and date of birth. Once this is done, an OTP will be sent to your WhatsApp again and you will be verified immediately.
That’s it! You’re in. Whenever you need to log in, you will be required to enter your email or phone number and your password.
How to Create and Use A Barter Virtual USD Dollar Card
Barter virtual cards are basically digital cards to complete your transactions both locally and internationally. The virtual card is a MasterCard product.
You don’t need to create a Barter Naira card if you registered from Nigeria, it is created by default. It’s the USD Dollar Card that needs to be created.
Here’s a quick guide on how to create a Barter USD Virtual Dollar Card under 5 minutes:
- Tap Cards
- At the top right corner of your device, click ‘+ New Card’
- Choose card type (Virtual card)
- Swipe to Choose Virtual Card or Gift Card
- Choose your card colour and the name to be inscribed on it
A $2 issuance fee is attached. The fee will be deducted from your Naira account.
How to Send Money to Nigeria Using Barter
Due to the new CBN directive instructing all IMTOs to restrict recipients of money from abroad to receive USD only, the cash pick-up option is the only viable option for now:
The USD Cash Pick-up option is a delivery method that allows recipients to physically collect cash from a convenient pick-up location nationwide. Please note that cash can only be collected in USD in line with CBN directives.
How do I initiate a USD Cash Pick up transaction to Nigeria?
Please follow these steps to initiate a USD Cash Pick-Up Transfer to Nigeria
- Launch your Barter App
- Click Send Money
- Click Send Money Abroad
- Input Amount
- Select USD Cash Pick-up option
- Input Beneficiary details (Recipient’s name, Recipient’s Residential Address, Phone number, and Email Address)
- Select Pick Up location of your choice (UBA/Zenith Bank)
- Review transaction summary to ensure the details are correct.
- Input your Transaction Pin to complete the transaction.
Note: The transaction will be available for pick-up within minutes. Please ensure all information filled is accurate and the recipient’s name matches the name on a valid means of ID. A Unique Reference Code will be generated for the sender to be shared with the recipient. This is very important to ensure smooth pick up by a recipient.
Frequently Asked Questions
Can I add my Barter USD Dollar Card to my Apple Music?
Yes, you can.
To do this, follow the guide below:
- Open your App Store.
- Click on your Profile Icon
- Click on your Apple ID.
- Click on Country/Region, and then click on Change Country or Region.
- Select the United States.
- Enter your card PAN (all the numbers in front), expiration details, and the CVV.
What’s my Barter Dollar Card billing address?
For all transactions, please note that Barter has already registered your billing address to the address below. However, your shipping address should be your residential address. Here’s your default billing address below:
- Street 1: 333 Fremont Street,
- Street 2: San Francisco City
- City: San Francisco
- State: CA – California
- Zip Code: 94105
- Phone number: +1(857) 5745195
Where can I use my Barter Dollar card?
The Barter USD card can be used on most global payment sites like Uber, Google Play, Apple Music, Asos, Udemy, Coursera, AliExpress, Namecheap, Facebook, PayPal, etc. for payments and purchases.
What is Barter Dollar card rate today?
Barter also sources for its US Dollars (USD) from the open source like the rest of us, and the other transactions that they handle. Thus, their rates change daily as the black market moves.
Barter Dollar (USD)card rate is around N609 today (28 June 2022).
What is Barter Dollar card limit?
Please note that these are DAILY limits for USD transfers on Barter:
Transfers to DOM Account (In regions where it’s available)
Transfers to local bank accounts (in regions where it’s available e.g Nigeria)
Transfers to Barter users worldwide (available everywhere)
Where can I NOT use my Barter Dollar card?
Barter cards will not work on any bitcoin, binary option, trading or money transfer websites, betting websites, porn, money transfer sites, and funding cryptocurrency websites.
Barter cards are specifically designed for merchant payments.
How will my recipient know the funds are available for pick up?
Once the cash is available for pick-up, Barter will notify the sender and the recipient via Email & SMS including directions to the nearest pick-up location. Please ensure the email address and phone number provided during the transaction is accurate.
What information is required before I can send money via the USD cash pick up option?
- Recipient Name: Please provide the recipient’s full legal name and ensure it matches the recipient’s valid means of Identification.
- Recipient residential address
- Phone number
- Email Address
- Purpose of Transfer (narration)
What information is a recipient required to provide for cash pick up?
The recipient will be required to provide the following information at the pick-up location once pick up notification is received:
- Sender’s name
- Reference number/Unique Reference Code
- Valid means of ID [this could be either International Passport (Nigerian/Foreign), Permanent Voter’s Card (PVC), Bank Verification Number (BVN), Driver’s License & National Identity Management Commission card (NIMC)]
- Relationship with Sender
- Purpose of Transfer (narration)
How can a recipient pick up cash?
Barter will notify cash pick up recipients via Email/SMS about funds available. This notification will contain details of the transaction including the amount and pick-up bank. Once the recipient is notified, they may proceed to pick up cash with the following steps:
Note: Recipients do not need to have an account with the bank to pick up cash.
Present the Email/SMS notification showing the token received from Barter at the bank then tender the reference code to the bank representative.
The recipient needs to verify identity using any of the following valid means of ID – International Passport; Driver’s License; National ID Card; Permanent Voter’s Card (PVC); or Bank Verification Number (BVN) slip.
Once ID is verified, funds will be disbursed for cash pick up instantly,
Note: Recipients must have their mobile phone handy for seamless cash pick-up at the various pick-up locations. Recipients should also ensure the Unique Reference Code for the transaction is obtained from the sender to enable smooth pick up.
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