First bank PTA requirements (How to apply for PTA on First bank?)

Read all about First bank PTA requirements.

PTA (Personal travel allowance) is a foreign currency product that ensures customers who are travelling out of the country on personal or business trips have access to foreign currency at approved CBN rates.

The primary aim of this scheme is to level the gap between the central bank of Nigeria (CBN) rate and the black market rate for Nigerians travelling abroad.

In this post, I am going to be writing about First bank PTA requirements and how to apply or PTA on First bank.

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Let’s get into it then…

Read my post on the best banks for PTA 

What is PTA?

PTA (Personal travel allowance) is a foreign currency product that ensures customers who are travelling out of the country on personal or business trips have access to foreign currency at approved CBN rates.

The primary aim of this scheme is to level the gap between the central bank of Nigeria (CBN) rate and the black market rate for Nigerians travelling abroad.

First bank PTA requirements

The below are the requirements to get PTA in First bank:

1. Biodata page of international passport
2. Valid visa page
3. Duly confirmed return
4. Ticket with e-ticket number
5. Authority to debit account for naira equivalent and charges
6. Accounts must have been opened and run at least 6 months
7. Complete a prepaid card request form when the customer does not have one

CBN rules for PTA

The below are CBN rules for PTA:

1. The PTA are available to only Nigerians
2. The applicants must be 18+
3. The destination country must be at least 5 hours away by air
4. Flight must be a return ticker
5. Where the applicant did not travel, PTA must be returned to the bank by the within 2 weeks of purchase.
6. When tickets scheduled date is changed, the applicant is required to update that information with the bank as well.
7. The flight ticket must originate from Nigeria
8. Travel date must be within the next 2 weeks
9. The limit for PTA is $4,000 per quarter (90 days)
10. Your passport must be stamped after each purchase
11. No to be sold to travelers visiting blacklisted countries

How to apply for PTA in First bank?

Follow the below instructions to apply for PTA in First bank:

1. Fund your bank account with naira value of the amount you need
2. Visit the CBN’s trade monitoring system portal
3. Register with your Bank verification number (BVN) for individual or TIN for organization
4. An OTP will be sent to your registered email
5. Verify your email
6. Login and fill the necessary fields
7. Upload your data page, visa page and flight ticket only
8. Choose First bank as your preferred bank and also a branch
9. Submit
10. Go to the nearest First bank branch with original international passport to collect cash.

First bank customer care

0700FIRSTCONTACT (0700-34778-2668228)

01-4485500

07080625000

https://twitter.com/fbn_help

https://instagram.com/firstbanknigeria

Conclusion

Read my post on how to apply for PTA and BTA in Nigerian banks 

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