12:10 PM
Monday 10 October 2022
I wrote – Manal Al-Masry:
The National Bank of Egypt amended the limits of daily cash withdrawals outside Egypt using direct debit cards linked to the customer’s account (DBT), while the bank kept the limits of purchases unchanged, and also fixed the commission rate and fees as it is without modification on each withdrawal process.
According to the bank’s website, the bank reduced the daily cash withdrawal limits from ATMs outside Egypt using “Debt” cards by 50%, which is the same percentage as on credit cards.
And the National Bank, last Saturday, announced through its website, the amendment of the limits for cash withdrawals outside Egypt using credit cards known as (Crit Card) by 50% in line with other banks and recent developments, while keeping the limits of purchases and commissions unchanged.
A number of banks have tended during the last period to reduce the limits for cash withdrawals and purchases outside Egypt using prepaid cards, direct debits, and credits, without prejudice to the established commission rate or fees and not changing it.
The National Bank kept the commission for cash withdrawals outside Egypt at 3% of the total value of the withdrawal in exchange for currency exchange, with an addition of 30 pounds for each pre-determined withdrawal.
The daily purchase limit using National Bank debit cards ranged from the equivalent of 50 thousand pounds to 500 thousand pounds in foreign currencies, according to the type of each card.
While the cash withdrawal limit, following adjusting for direct debit cards, according to the type of each card, ranged from the equivalent of 10 thousand pounds per day to 50 thousand pounds per month in foreign currencies, and cash withdrawals per month does not exceed the equivalent of 20 thousand pounds to 50 thousand pounds, according to the website. the bank.
Masrawy provides the details of withdrawing cash outside Egypt using direct debit cards at the National Bank of Egypt following the amendment:
classic card
Maximum cash withdrawal: the equivalent of 10 thousand pounds per day, with no more than 20 thousand pounds per month in foreign currency.
Maximum purchases: the equivalent of 50 thousand pounds per day in foreign currency.
golden card
Maximum cash withdrawal: the equivalent of 15 thousand pounds per day, with no more than 30 thousand pounds per month in foreign currency.
Maximum purchases: the equivalent of 100,000 pounds per day in foreign currency.
Platinum Card (Master Card)
Maximum cash withdrawal: the equivalent of 25 thousand pounds per day, with no more than 40 thousand pounds per month in foreign currency.
Maximum purchases: the equivalent of 250 thousand pounds per day in foreign currency.
Platinum Card (Visa)
Maximum cash withdrawal: the equivalent of 25 thousand pounds per day, with no more than 40 thousand pounds per month in foreign currency.
Maximum purchases: the equivalent of 300 thousand pounds per day in foreign currency.
World Card (MasterCard)
Maximum cash withdrawal: the equivalent of 37 thousand pounds per day, with no more than 50 thousand pounds per month in foreign currency
Maximum purchases: the equivalent of 400,000 pounds per day in foreign currency.
World Elite Card (MasterCard)
Maximum cash withdrawal: the equivalent of 50 thousand pounds per day, with no more than 50 thousand pounds per month in foreign currency.
Maximum purchases: the equivalent of 500 thousand pounds per day in foreign currency.
And the banks’ decision to reduce the limits for cash withdrawals outside Egypt came following a meeting that took place with the Governor of the Central Bank, Hassan Abdullah, to limit the use of direct debit cards linked to the customer’s account known as “Al-Dabt” and “Credit Card” on cash withdrawals outside Egypt due to a noticeable increase in withdrawals. In dollars and euros, which is considered “misuse by some customers” at a time when banks are suffering from the dollar shortage crisis.
The Banque Misr had approved a sharp reduction on cash withdrawals outside Egypt by 90% compared to the previous limits before the amendment, as well as the First Abu Dhabi Bank and the Saib Bank, which reduced it by a large percentage at a time when the country is suffering from a decline in foreign exchange resources due to the uncertainty experienced by global economic institutions affected by it. The negative consequences of the Russian-Ukrainian war.
Read also:
The National Bank reduces the limits for withdrawals outside Egypt by using a credit card by half
