The Central Bank of Egypt instructs banks to increase daily withdrawal limits

The Central Bank of Egypt has instructed banks to increase the maximum limit for cash withdrawals from their branches to EGP 250k per day.

The previous cash withdrawal limits were only EGP 150k, which means an increase of EGP 100k.

Press reports said the instructions include raising the maximum limit for cash withdrawals from ATMs to EGP 30k.

The document included that based on the letter issued on August 25, 2022, regarding the maximum limits for cash withdrawals and deposits, and in light of the Central Bank’s keenness to provide more facilitation to citizens and companies, it was decided to increase the daily limit for cash withdrawals from bank branches to EGP 250,000 for individuals and companies, and from ATMs to become EGP 30,000.

Banks should review their domestic policy to reflect the new boundaries, and update the foreign currency withdrawal caps policy, approved by the Board of Directors, and updated periodically.

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