11:11 AM Thursday, October 12, 2023
Written by Manal Al-Masry:
Banks currently allow customers to use credit cards known as “Credit Card” only outside Egypt for cash withdrawal transactions from ATM machines and purchases from merchants after the decision to stop using direct debit cards “Debit” linked to the customer’s account in the pound outside the country.
Most of the banks announced, starting last week and throughout the current week, that they would stop international transactions on direct debit cards linked to customers’ accounts outside Egypt and limit them only to local transactions from these banks: the National, Egypt, Cairo, Commercial International, Arab African International, and others.
Some bankers justified the banks’ decision to suspend debit cards due to the discovery of wrong practices and misuse by some customers at a time when they are facing a shortage of foreign exchange and the spread of black market currency speculation.
However, banks have excluded some customers from the ban on using direct debit cards outside Egypt for education or study purposes only, on the condition that they submit papers proving the validity of the customer’s request, according to sources Masrawy spoke to earlier.
The banks’ decision means that transactions outside Egypt are limited to credit cards only for cash withdrawals and purchases after they stopped direct debit cards and 4 months before that, prepaid cards.
Banks allow customers to use credit cards according to the maximum limits available to them during the month outside Egypt, which vary from one bank to another, in exchange for deducting the currency management commission from his account in pounds to the currency of the country he is in at a rate of 10% of the total transaction, in addition to a 3% commission for using the POS machine abroad. The country.
In the following lines, Masrawy provides details of cash withdrawals and purchases using credit cards outside Egypt after stopping direct debit cards.
Ahli Bank
-Standard Card: The equivalent of 2.5 thousand pounds in the currency of the country in which the customer is located for monthly cash withdrawals, and the equivalent of 10 thousand pounds for monthly purchases.
-Gold Card: The equivalent of 2.5 thousand pounds in the currency of the country in which the customer is located for monthly cash withdrawals, and the equivalent of 25 thousand pounds for monthly purchases.
-Platinum Card: The equivalent of 6.25 thousand pounds in the currency of the country in which the customer is located for monthly cash withdrawals, and the equivalent of 62.5 thousand pounds for monthly purchases.
-World Card: The equivalent of 10,000 pounds in the currency of the country in which the customer is located for monthly cash withdrawals, and the equivalent of 100,000 pounds for monthly purchases.
-World Elite Card: The equivalent of 10,000 pounds for cash withdrawals per month, and the equivalent of 100,000 pounds for purchases per month.
Egypt Bank
– Classic card: $100 per month for cash withdrawals and $100 per month for purchases.
– Gold Card: $100 per month for cash withdrawals, and $200 per month for purchases.
– Titanium card: $250 per month for cash withdrawals, and $500 per month for purchases.
– Visa and MasterCard Platinum: $400 per month for cash withdrawals, and $1,500 per month for purchases.
– World World Elite Card: $400 per month for cash withdrawals, and $4,000 per month for purchases.
Cairo Bank
-Classic card: The equivalent of 2.5 thousand pounds for cash withdrawals in the currency of the country in which the customer is located per month, and the equivalent of 10 thousand pounds for purchases per month.
– Gold Card: The equivalent of 2.5 thousand pounds for cash withdrawals in the currency of the country in which the customer is located per month, and the equivalent of 20 thousand pounds for purchases per month.
– Titanium card: The equivalent of 6.5 thousand pounds for cash withdrawals in the currency of the country in which the customer is located per month, and the equivalent of 62.5 thousand pounds for purchases per month.
– World Elite Card: The equivalent of 10,000 pounds for cash withdrawals in the currency of the country in which the customer is located per month, and the equivalent of 100,000 pounds for purchases per month.
2023-10-12 08:11:00
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