NBE account holders have the ability to utilize up to EGP 60,000 worth of foreign currency equivalents, whether they are traveling abroad or within the country
State-owned National Bank of Egypt (NBE) has raised its credit card limits for foreign currency transactions both domestically and internationally without prior notification, according to an official releasee by the bank.
Now, NBE account holders have the ability to utilize up to EGP 60,000 worth of foreign currency equivalents, whether they are traveling abroad or within the country. This marks a significant increase from the bank's former limit of EGP 20,000.
Gold and Titanium card holders can now use up to EGP 25,000, up from the previous EGP 7,500 limit.
Visa Platinum, Mastercard Platinum and Mastercard holders can now utilize up to EGP 40,000, compared to the previous EGP 12,500 limit.
Mastercard World, Visa Signature and Mastercard Corporate holders had their limits raised to EGP 60,000 from the previous limit of EGP 20,000.
Visa Classic and Mastercard Standard are at the lowest threshold, able to access EGP 5,000 maximum.
NBE explained that the cap for a single purchase in foreign currencies is according to the credit limit of the card itself and cannot exceed the specifications of the type of card.
The bank noted that multiple NBE credit card user’s monthly cap for foreign currency purchases is according to the monthly limit of the user’s highest credit card category.
The NBE’s adjustments are part of a directive by the Central Bank of Egypt to local banks to raise foreign currency transaction limits following the devaluation of the Egyptian Pound in March.
