The Central Bank of Egypt (CBE) announced on Saturday that it has raised the maximum daily and monthly limits for transactions involving financial inclusion accounts, prepaid cards, and mobile payment services. These transactions include withdrawals, transfers, or any deductions or purchases.
CBE said that the new limits for individuals are determined by each bank. The maximum daily limit is EGP 60,000, up from EGP 30,000. The maximum monthly limit is EGP 200,000, up from EGP 100,000.
The bank also said that the new limits for companies and micro-enterprises that have documents, headquarters, or verification using any “Category A” method are determined by the bank. The maximum daily limit is EGP 80,000, up from EGP 40,000. The maximum monthly limit is EGP 400,000, up from EGP 200,000.
The bank added that the new limits for companies, micro-enterprises, self-employed professionals, and craftsmen that do not have documents, headquarters, or verification, and that practice “Category B” economic activity are determined by the bank. The maximum daily limit is EGP 60,000, up from EGP 30,000. The maximum monthly limit is EGP 200,000, up from EGP 100,000.