The National Bank of Egypt (NBE) reduced the monthly maximum limits for cash withdrawals and purchases outside the country using credit cards.
The purchase limit for the Classic Card outside Egypt decreased to 7,000 pounds per month, or its equivalent in dollars and other currencies, while the bank reduced the withdrawal limit from 2,500 pounds to 1,500 pounds, or its equivalent in other currencies.
NBE also reduced the limit for international purchases for the Gold Card from 25,000 pounds to 15,000 pounds per month, while the international cash withdrawal limit decreased to 2,000 pounds per month, after it was 2,500 pounds.
As for the Platinum Card, the bank decided to reduce the limit for international purchases through it to 50,000 pounds per month, while the limit for international cash withdrawals was reduced to 4,500 thousand pounds per month.
A number of banks suspended the international withdrawal limit until the customer is notified of travel, but they did not cancel it, according to a statement from the Egyptian Gulf Bank (EG-Bank).
The EGbank stopped the limits on cash withdrawals for international use on its credit cards, and set the maximum limit on international purchases for all cards at 3,000 pounds.
The banks said that withdrawal limits have become inactive if the customer does not notify the bank of travel.
Credit Agricole also announced that to open the cash withdrawal limit for its credit cards, the bank must be notified of travel and provide documents proving the extension of travel periods and specifying the date of travel and return.
It added that if one does not comply with travel reporting, the card withdrawal limit will be suspended, according to the bank’s official website.
The bank explained that if travel is not reported, the limit for international purchases is a maximum of $250, while the cash withdrawal limit will depend on different cards.
If the customer notified of travel, the daily cash withdrawal limit from abroad is 5,000 pounds, or according to the card’s cash withdrawal limit, and as for the limit for international purchases, it is 60,000 pounds, equivalent to $1,935.
And if the customer purchases several basic credit cards from the bank, the customer is allowed a monthly international usage limit of $250 for one basic card, with the highest credit limit.
According to the bank’s official website, the request is executed within two business days from the date of travel, and the bank sends a text message to the customer to confirm activation of the international usage limit.
The bank does not allow the use of cards issued after December 24 for travel unless 6 months have passed since their issuance.
Moreover, the Arab Bank announced the freezing of international cash withdrawal limits in dollars from outside the country on credit cards issued to its customers, moving towards the new restriction, where international transactions were limited to credit cards for purchases in foreign currencies only.According to a document issued by the Arab Bank, the minimum limit for international purchases on credit cards was about 10,000 pounds per month, and the highest limit was 100,000 pounds per month.
The Arab Bank said that the current international transaction limits for internet cards are equivalent to $250 per month, and the limits for international purchases on credit cards are “Visa Blue, Visa Gold was set at 10,000 pounds per month, Visa Black, at 25,000 pounds per month, and Titanium MasterCard 20 thousand pounds per month, while Visa Platinum 40,000 pounds, Visa Mate Travel at 30,000 pounds per month, Visa Signature, Visa World Elite MasterCard at 100,000 pounds per month.”
Also, the Commercial International Bank (CIB) and Abu Dhabi Islamic Bank (ADIB) reduced the limits for international purchases from within Egypt on credit cards to $50 per month, and $250, respectively.
Follow the latest news on Google News
