Mastering PTA: 3 Tips Every Nigerian Applicant Must Know

Are you planning to travel out of the country soon and you are concerned about the foreign exchange rate? This article is for you. 

The Central Bank of Nigerians has approved $4000 as a personal travel allowance and $5000 as a Business travel allowance. This article explores the requirements and steps to consider when applying for the PTA. 

Requirements for Personal Travel Allowance

These are the requirements for PTA

• You must be at least 18 years old
• The flight time to your destination is 5hours or more
• The purchase is within 14 days of your departure
• A valid Nigerian passport
• A valid visa from the country of destination 
• A return air ticket
• A valid BVN

How to Apply for the PTA

Contact us at Dealmakers today to get started 

Personal Travel Allowance (PTA) is key to getting the best value for your money. Here are four essential tips that every Nigerian applicant should know to master their PTA and secure the best exchange rates for buying USD or other currencies.

1. 1. Understand the PTA framework: The PTA is an annual allowance that enables Nigerians to purchase foreign currency for personal travels at the official exchange rate. Familiarize yourself with the eligibility criteria and the maximum amount you can purchase as listed above.  This knowledge will help you navigate the process efficiently and ensure you’re getting the full benefit of your allowance.

• Shop the best exchange rate: Don’t settle for less, get the value for your money from a trusted bureau de change like Dealmakers BDC. 

1. Beware of fees: When buying USD or other currencies, it’s not just about the exchange rate. Be vigilant about any fees or charges that could eat into your allowance 

Mastering your Travel Allowance is about more than just fulfilling the requirements; it’s about making informed decisions that maximize your spending power abroad. By understanding the PTA framework, shopping for the best exchange rates from Dealmakers, and being aware of fees, you can ensure that your hard-earned money goes the extra mile. Safe travels!