PTA and BTA ▷ How to Apply Online and in Nigerian Banks Now!

Lot of Nigerians are concerned about the rates and requirements to register and buy Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) from banks.

Are you one of them?

Have you been asking how much is PTA/BTA (US Dollar, EUR, GBP) in Nigeria banks today?

If YES, this is the only article to read today as you will get to know the right steps to take.

Getting started…

Lot of Nigerians are concerned about the rates and requirements to register and buy Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) from banks.

Are you one of them?

Have you been asking how much is PTA/BTA (US Dollar, EUR, GBP) in Nigeria banks today?

If YES, this is the only article to read today as you will get to know the right steps to take.

Getting started…

Personal Travel Allowance (PTA) Requirements in Nigeria

Here are the requirements for PTA:

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

How to Apply for Personal Travel Allowance (PTA) Online

This form is used by an individual to apply for foreign exchange personally.

Only the applicant can be the beneficiary.

A quarterly limit of $4000 is applicable here.

Here are the steps to apply for PTA online:

• Login into the TRMS applicant portal.
• At the Trade Services TAB, click on the Personal Travel Allowance (PTA).
• Fill all the required fields properly.
• Attach Documents requested on the document Tab. Documents can be in PDF/JPG/PNG/TIFF form and should not be over 1.99mb.
• Preview your form before submission by clicking on the preview tab at the top right of the page or NEXT at the bottom on the Page.
• An email will be sent notifying you that your application is being processed.

Business Travel Allowance (BTA) Requirements in Nigeria

Here are the requirements for BTA:

• You are at least 18 years old.
• The flight time to your travel destination is 5 hours or more.
• The purchase is within 14 days of your departure.
• A valid Nigerian passport.
• A valid visa of the country of destination.
• A return air ticket.
• Valid BVN.
• Certificate of Incorporation.
• Letter of invitation from the company (business partner) abroad.
• Letter of nomination from the Nigerian company.

How to Apply for Business Travel Allowance (BTA) Online

BTA form is used by an organization to apply for foreign exchange for their employees.

A quarterly limit of $5000 per beneficiary is applicable here.

Here are the steps to apply for BTA online:

• Log into the applicant portal.
• Review the basic information and click on NEXT.
• On the Trade Services TAB, click on the Business Travel Allowance (BTA) shortcut or navigate to the BTA transaction purpose field.
• Fill all the required fields properly.
• Attach Documents requested on the document Tab. Documents can be in PDF/JPG/PNG/TIFF form and should not be over 1.99mb.
• Preview your form before submission by clicking on the preview tab at the top right of the page or NEXT at the bottom on the Page.

What if I have a Visa on Arrival?

If your destination country is visa on arrival:

• Ensure your trip meets PTA requirements.
• If it does, login to the portal.
• Fill the fields and upload the documents (international passport data page, return flight ticket).
• Upload a blank document as a visa page.
• Submit.
• Then, contact your bank to explain that you do not actually require a visa to visit the destination country. An exceptional approval should cover for that.

Note

• PTA turnaround time is 1 business day.
• A residence permit to your destination country can be used in place of a visa or e-Visa.
• For PTA, third-party applications are not allowed. However, you can apply for a BTA if your third-party is a corporate account.
• To avoid issues, your bank account name should be the same as your passport.
• Depending on the bank, PTA can be given out in cash or electronically.
• Once your application is approved by the trade system, a 16-digit ‘form number’ is generated and displayed on your request. You can also contact your bank to confirm and proceed for collection.
• Most banks operate on a first-come-first-serve basis. So, after application, follow up with your bank with your AF-number.
• After collecting the dollars and eventually you didn’t travel, you’re expected to return the cash to the bank within 2 weeks.
• If you couldn’t upload your flight ticket while uploading the required documents, just login, choose form-a click history, choose the application and upload missing documents. Ensure to fund your account before applying.
• You can inquire about the exchange rate and turnaround time from your bank. Insufficient funding is a good reason to disapprove a TRMS transaction.
• If you are having adb_review status after application, contact your bank with your AF number.

PTA and BTA FX Defaulters

Commercial banks are required by Central Bank of Nigeria (CBN) regulations to publish names and BVN of PTA and BTA FX defaulters.

The customers to be listed cancelled their trip and failed to return the FX availed to them despite several mails, text messages and follow-up phone calls.

This offense can earn the defaulter a BVN blacklist and/or jail term.

Hope you learnt a lot from this article?

Good luck.

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