First Bank urges all PTA/BTA applicants to comply with Regulatory Requirements

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The Management of the first Bank limited have said that the full Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) ($4,000 and $5,000) respectively will now be disbursed into your FirstBank Travel Card. All applications will be in line with Regulatory Requirements. 

 

“Kindly ensure that all PTA/BTA applications along with the approved Form A are submitted at the branch exactly 14 days before your proposed travel date. Sales are limited to two quarters a year.

 

School Fees 

“For School Fees, a minimum of 30 days is required for processing, after the submission of documents along with the approved Form A at the branch, subject to a maximum of $15,000 per semester and limited to 2 semesters per session.

 

Student Upkeep 

“Application for Upkeep requires a minimum of 30 days for processing subject to a maximum of $3,000 (or its equivalent in other currencies) per Semester, limited to 2 semesters per session. Evidence of payment of school fees for the current session, if the school fees were not paid through FirstBank, will also be required.

Form Q 

“Please be informed that a Form M must accompany applications for Form Q, subject to a maximum of $20,000 and limited to 2 quarters a financial year. 

 

The bank reiterated that Application for Form A for (School fees, Student Upkeep and PTA/BTA) must be processed on the Central Bank of Nigeria’s Trade Monitoring System (TRMS) Platform.

 

Click here to see the requirements for FX purchase.


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