INVISIBLE TRANSACTION

The processing of invisible transactions is also done by the international trade service unit. Form A is a mandatory statutory document to be completed by all individuals for payment of services outside Nigeria.

Invisible transactions are essentially payment for services i.e there are no tangible goods involved. There are different types of invisible transactions. Some of which are:

  • Course Fees
  • Dividend Remittances
  • Payment for Medical Services outside Nigeria
  • Technical Service Fee Remittance
  • Personal Home Remittance
  • School Fees Remittance etc.
  • PTA (Personal Travel Allowance)
  • BTA (Business Travel Allowance)

Documentation requirements for invisible transactions are as listed in the Foreign Exchange Manual

Trade support Desk

Trade support team is positioned to cater for the needs of our Trade customers. The team gives advisory services on transactions and also train customers on all trade transactions/products.

All inquiries should be forwarded to itscustomerservice@fcmb.com

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FCMB is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Receiving Banker, FMDQ Dealer, Derivatives Clearing member and Custodian.