Extension of the exemption from ATM withdrawal fees.. Details of the...

Extension of the exemption from ATM withdrawal fees.. Details of the...
Extension of the exemption from ATM withdrawal fees.. Details of the...

The Board of Directors of the Central Bank of Egypt decided to extend the validity of some decisions previously taken to confront the pandemic, for a new period of 6 months, starting from January 1 until June 30, 2022.

The decisions that were extended by the Central Bank of Egypt for the new period included:

Exempting customers from all expenses and commissions related to bank transfer services in Egyptian pounds.

Issuance of e-wallets for free.

Exempting citizens from all commissions and fees for transfers between mobile phone accounts and transfers between any mobile phone account and any bank account.

Issuance of prepaid cards to citizens for free, provided that these cards are contactless if the bank starts issuing this type of cards.

Exempting citizens from all fees and commissions related to cash withdrawal operations, provided that the card issuing bank bears these fees and commissions, and this does not include credit card returns.

The decisions that have been extended include “continuing to exempt citizens from all fees and commissions related to cash withdrawals for pension exchange cards.

The decisions also include the continuation and exemption of merchants from all activation fees for electronic collection services via the Internet (E-Commerce); This is in order to reduce the financial burdens on companies by exempting them from the expenses that were required of them to activate the electronic collection service via the Internet, such as (the expenses that are paid once to activate the service, the monthly fees for the service, and the expenses of additional services, and this exemption resulted during the previous period, an increase in the number of trade companies Almost 100% of the number of new companies activated the service.

The Central Bank of Egypt confirms that it will continue to follow closely all developments on the global and local arenas, to intervene immediately by taking appropriate measures to protect the national economy, revitalize the market, and maintain banking and monetary stability.

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