14:45
Friday 07 October 2022
I wrote – Manal Al-Masry:
Banque Misr decided to significantly reduce the limits for cash withdrawals outside Egypt, using the direct debit card linked to the customer account (DBT) and the credit card (credit card), and was implemented by this month.
However, Banque Misr has not raised the percentage of commissions and commissions on withdrawals, according to the new limits published on its website.
Banque Misr has decided to reduce the purchase limits (the amount allowed for card purchases abroad) using direct payment cards, but has decided not to change the purchase limits on credit cards.
The discount rates on withdrawals and purchases ranged between 50 and 90%.
Bank 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 beyond outside Egypt because they have monitored a significant increase in dollar and euro withdrawals, 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 various types of Egyptian pound-denominated bank cards outside of Egypt to purchase or withdraw cash in the currency of the country where the customer is located via an international SWIFT system that allows for the exchange of any currency of the card in the currency in which the customer is present against a deduction of the commissions for the provision of the service.
Banque Misr chose to tighten the limits for cash withdrawals on debit and credit without affecting the commission rate, and the commission rate remained 3% on the total value of the currency to change currency from one pound to the currency of the same country , in addition to imposing £ 50 on each withdrawal, plus a 3% fee for using a machine outside Egypt.
Masrawy Introduces Limits of Using Cash Withdrawals Outside Egypt Using Direct Payment Cards and Credit Cards at Banque Misr After Amendment
First Month Debit Cards (DBT)
Visa and MasterCard (Classic): Limits for cash withdrawals outside Egypt (ATMs and POS) dropped 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 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 on 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) equal to $ 750 per month, while the limits for purchases are $ 12.5 thousand per month.
– World, World Elite Card: the cash withdrawal limits are equivalent to $ 1500 per month and the purchase limit does not exceed the equivalent of $ 25,000 per month.
Second – Credit cards outside Egypt
Classic Card: The limits for cash withdrawals outside Egypt (ATMs and POS) have been reduced to the equivalent of $ 500 per month, while purchases have been kept within the limits of the card.
Gold Card: Out-of-Egypt cash withdrawal limits (ATM-POS) are equivalent to $ 500 per month, while purchase limits are maintained up to the card limits.
Platinum Card: The limits for cash withdrawals outside Egypt (ATM-POS) are equal to $ 750 per month, while the limits for purchases are up to the limits of the card.
– Titanium Card: – Cash withdrawal limits outside Egypt (ATM-POS) equal to $ 750 per month, while the purchase limits are up to the limits of the card.
– The World Card: -: The limits for cash withdrawals outside Egypt (ATM-POS) are equal to 1500 dollars per month, while the limits for purchases are up to the limits of the card.
