02:45 PM
Friday 07 October 2022
I wrote – Manal Al-Masry:
Banque Misr decided to significantly reduce the limits for cash withdrawals outside Egypt, by using the direct debit card linked to the customer’s account (DBT) and credit card (credit card), and it was implemented from this month.
However, Banque Misr did not raise the percentage of commissions and fees on withdrawals, according to the new limits published on its website.
Banque Misr decided to reduce the limits of purchases (the amount allowed to be paid when buying using the card abroad) using direct payment cards, but decided not to change the purchase limits on credit cards.
The discount rates on withdrawals and purchases ranged between 50 and 90%.
Banking sources told Masrawy two weeks ago that banks are considering limiting the use of direct debit cards linked to the customer’s account known as “Al-Dabt”, and “Credit Card” on cash withdrawals outside Egypt because they monitored a noticeable increase in withdrawals in dollars and euros, which is considered “bad”. Use by some customers” at a time when banks are suffering from the dollar shortage crisis.
Banks allow their customers to use their various types of bank cards denominated in Egyptian pounds outside Egypt to purchase or withdraw cash in the currency of the country in which the customer is located through an international SWIFT system that allows the exchange of any card currency in the currency in which the customer is present in return for a commission deduction to provide the service.
Banque Misr chose to narrow the limits for cash withdrawals on debit and credit without prejudice to the commission rate, and the commission rate remained 3% on the total value of the currency to exchange currency from one pound to the currency of the same country, in addition to imposing 50 pounds on each withdrawal, as well as a 3% commission for using a machine outside Egypt.
Masrawy presents the limits of the use of cash withdrawals outside Egypt using direct payment cards and credit cards at Banque Misr following the amendment
First- Monthly Debit Cards (DBT)
Visa and MasterCard (Classic): The limits for cash withdrawals outside Egypt (ATM and POS) decreased to the equivalent of $500 per month instead of $5,000, while purchases amounted to $9,000 per month, instead of $18,000 per month.
Gold Card: ATM-POS cash withdrawal limits are equivalent to only $500 per month instead of $5,000, while purchase limits are $9,000 instead of $18,000 per month.
Platinum card: The limits for cash withdrawals outside Egypt (ATM-POS) are equivalent to only 750 dollars per month instead of 10 thousand dollars, while the limits of purchases are equivalent to 12.5 thousand dollars instead of 25 thousand dollars per month.
– Titanium Card: – Limits for cash withdrawals outside Egypt (ATM-POS) equivalent to 750 dollars per month, while the limits of purchases are 12.5 thousand dollars per month.
– World, World Elite Card: cash withdrawal limits are the equivalent of 1500 dollars per month, and the purchase limit does not exceed the equivalent of 25 thousand dollars per month.
Second – Credit cards outside Egypt
Classic Card: The limits for cash withdrawals outside Egypt (ATM and POS) were reduced to the equivalent of $500 per month, while purchases were kept up to the card limits.
Gold Card: Cash withdrawal limits outside Egypt (ATM-POS) are equivalent to 500 dollars per month, while the limits of purchases are kept up to the limits of the card.
Platinum Card: The limits of cash withdrawals outside Egypt (ATM-POS) are equivalent to 750 dollars per month, while the limits of purchases are up to the limits of the card.
– Titanium Card: – Limits of cash withdrawals outside Egypt (ATM-POS) equivalent to 750 dollars per month, while the limits of purchases are up to the limits of the card.
– The World Card: -: The limits of cash withdrawals outside Egypt (ATM-POS) are equivalent to 1500 dollars per month, while the limits of purchases are up to the limits of the card.
