07:47 PM Thursday, January 18, 2024
Written by Manal Al-Masry:
The National Bank of Egypt announced the reduction of the monthly maximum limits for cash withdrawals and purchases outside Egypt using credit cards, according to what it announced on its website.
The National Bank reduced the limits for international transactions using credit cards after a number of banks reduced the maximum limits for transactions starting this January, including the Commercial International Bank CIB, Abu Dhabi Islamic Bank Misr, Al-Arabi and other banks.
Banks had tightened restrictions on credit cards in international transactions outside Egypt last October after they permanently suspended transaction limits on direct debit cards linked to the customer’s account and prepaid in international transactions.
The banks decided to stop the international transaction service on newly issued credit cards for a period of 6 months, starting from the last 10 days of last December, without prejudice to the limits of transactions in the local currency inside Egypt, due to foreign exchange shortages.
The bank set the monthly maximum limits for international transactions outside and inside Egypt using credit cards as follows:
First: The maximum limits for international transactions outside Egypt
-Classic card
Purchase limit: Decreased from 10,000 pounds to 7,000 pounds per month, equivalent to the dollar or any other currency.
Withdrawal limit: Decreased from 2.5 thousand pounds to 1,500 pounds, the equivalent of a dollar or any other currency.
-Gold Card
International purchase limit: Decreased from 25,000 pounds to 15,000 pounds per month, equivalent to the dollar or any other currency.
International cash withdrawal limit: Decreased from 2.5 thousand pounds to 2 thousand pounds per month, equivalent to the dollar or any other currency.
Platinum card
International purchase limit: Decreased from 62.5 thousand pounds to 50 thousand pounds per month, equivalent to the dollar or any other currency.
International cash withdrawal limit: decreased from 6.25 thousand pounds to 4.5 thousand pounds per month, equivalent to the dollar or any other currency.
Two World Elite cards
International purchase limit: decreased from 100,000 pounds to 85,000 pounds per month, equivalent to the dollar or any other currency.
International cash withdrawal limit: Decreased from 10 thousand pounds to 4.5 thousand pounds per month, equivalent to the dollar or any other currency.
Second – The monthly maximum limits inside Egypt using the “Credit Card”
The bank explained that customers of current credit card holders inside Egypt, as well as those outside Egypt, who did not contact the call center before or during the travel period or visit the nearest branch to request availability of limits, can use their credit cards in foreign currency according to the following limits or their equivalent in other foreign currencies, which are:
Visa Classic and Standard MasterCard: $50 per month.
Visa Gold and MasterCard Titanium: $75 per month.
Visa Platinum and MasterCard Platinum: $150 per month.
MasterCard World and Visa Signature: $250 per month.
MasterCard World Elite and Visa Infinite: $250 per month.
Corporate credit card: $250 per month.
Commission: The bank pays 10% of the total transaction for the use of all cards in foreign currency in exchange for withdrawing currency from its account in pounds.
The use of cards issued by our bank has been stopped at some stores of certain categories, for example, transactions for charging electronic wallets in foreign currency and jewelry stores, with the aim of our bank continuing to allow the use of cards in foreign currency in the rest of the transactions, whether purchases or cash withdrawals.
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2024-01-18 17:47:00
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