According to the statement issued today, Thursday, the central bank decided to define withdrawals and deposits for individuals and companies, whether through bank branches or ATMs, the central bank canceled the limits of cash withdrawal from ATM machines on deposits, while raising the maximum withdrawal according to conditions.
The decision specified that ATM withdrawal restrictions will remain at 20,000 Egyptian pounds per day, as before.
– The Central Bank’s decision also mandated an increase in the daily withdrawal restrictions from ATMs, raising the maximum withdrawal per person per day from bank branches to 150 000 Egyptian pounds, up from approximately 50 000 pounds prior to the ruling.
– The Central Bank’s decision to cancel the maximum deposits made by people and businesses in bank branches and ATM machines as part of the precautionary steps taken to combat the consequences of the current Corona virus crisis. This decision also affected the daily deposit of ATM machines.
The most that any one person may deposit or withdraw in a day was around 50,000 pounds at branches and 20,000 pounds at ATMs.
2 In addition, the “Central” decided to change the daily limit on cash withdrawals and deposits for private individuals to 50,000 pounds of branches and 20,000 pounds of ATMs.
It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt decided today, headed by the Governor of the Central Bank, Hassan Abdullah, in its exceptional meeting today, raising the price of the return and lending for one night and the price of the main operation of the Central Bank by 200 basis points to 13. 25%, 14. 25% and 13. 75%, respectively. Additionally, the credit and discount rate was increased by 200 basis points to 13.75 percent.
the entire text of the Central Bank’s decision to set the daily withdrawal limit from ATMs following an increase in interest rates
About Author
