The National Bank of Egypt allows its customers to use credit cards while traveling abroad. Find out the conditions.
Announce National Bank of Egypt, announced raising the limits of local transactions in foreign currencies for some types of credit cards, without prior notification to the bank, according to what it said in a statement on its website.
And it was Egyptian Central Bank After issuing the decision to liberalize the exchange rate on March 6, he directed banks operating in the country to increase the monthly limits for using…credit cards In foreign currency transactions inside Egypt.
The National Bank of Egypt raises the maximum limit on credit cards
The decision of the National Bank of Egypt, the largest government bank in Egypt, revealed the maximum limit for local transactions in foreign currencies, for some types. credit cards Which has been implemented since May 9, and is as follows:
The maximum limit for using Visa Gold and MasterCard Titanium will be 25,000 pounds, up from 7,500 pounds previously.
The maximum limit for using Visa Platinum, MasterCard Platinum, MasterCard and EVA Champions League will be 40,000 pounds, up from 12,500 pounds previously.
The maximum limit for using MasterCard World, Elite, Visa Signature, Infinite, and corporate credit cards will be 60,000 pounds, up from 20,000 pounds previously.
The limits for using Visa Classic, MasterCard Standard, and MasterCard Egypt Air cards will remain unchanged at 5,000 pounds.
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Conditions for using credit cards abroad
Also, according to the National Bank of Egypt’s statement, customers can also use international limits for purchases and cash withdrawals while traveling abroad by contacting the bank within 90 days from the date of availability of the credit card, according to the limits for using cards of various types.
Editing the exchange rate of the Egyptian pound
On March 6, the Central Bank of Egypt raised interest rates by 6% once, with the aim of curbing inflation. It also concluded an agreement with the United Arab Emirates to develop the city of Ras El Hekma on the Mediterranean coast with foreign direct investments worth $35 billion.
Also on the same day, the International Monetary Fund approved a loan to Egypt worth $8 billion, after devaluing the Egyptian pound and achieving greater flexibility in the exchange rate.
