Banks in Egypt decided to raise the fees for using payment and credit cards abroad from 3% to 6%, while other banks resorted to restricting the withdrawal ceiling abroad with specific values.
Some Egyptian banks have resorted to reducing the limit for withdrawals from ATMs outside Egypt, amid great demand for dollars.
While the Egyptian market is awaiting the fate of the ongoing negotiations with the International Monetary Fund, regarding Egypt’s obtaining new financing, a record Egyptian Pound New losses once morest the dollar, to be traded today, Thursday, at levels ranging between EGP 19.71 as the highest selling price, compared to EGP 19.66 as the highest purchase price.
HSBC Bank Egypt has sent text messages to its customers confirming that the monthly cash withdrawal limit from ATMs from abroad using bank credit or direct debit cards will be $5,000 (or its equivalent) starting from October 3, 2022.
Banque Misr also reduced the limit available to the traveler to $1,000 from $2,000 in the past.
