13:28
Monday 07 November 2022
I wrote – Manal Al-Masry:
The Central Bank will announce, in its board of directors by the end of next month, the fate of the fees for withdrawing again from ATMs on customers using cards not affiliated with the bank that owns the branch by the end of next month with the end of current rents.
And the Central Bank’s decision will be between setting the same fees on cash withdrawals from ATMs without any bank changes, or increasing them by a certain percentage, or leaving the determination of the percentage in the hands of each bank separately, depending on what it sees. .
The Central Bank had decided at the end of last June to return the withdrawal commission from automatic teller machines (ATMs) to non-customers of the same bank, starting from July 1st, after a 27-month suspension.
The Central Bank has obliged banks not to exceed the maximum fee limit for cash withdrawals from ATMs for cards issued by other banks, from £ 5 until the end of December 2022 until a new decision by the Central Bank.
The Central Bank has also decided to increase the maximum limit for cash withdrawals per transaction to £ 4,000 from ATMs of other banks that the customer does not follow.
The Central Bank had suspended commissions on digital banking services for a period of 27 months from March 2020, with the start of the Corona pandemic, as that period saw the decision extended 5 times, which ended on 30 June .
The banking system has issued nearly 55 million bank cards, ranging from direct debit cards linked to the customer’s account, credit cards known as credit cards for the purpose of paying and paying in installments electronically, and prepaid cards used for payments, withdrawals and electronic filing transactions.
