Friday May 29, 2020
I wrote – Manal Al-Masry:
The Central Bank launched an initiative in front of the banking system to activate electronic payment within the precautionary measures it takes to confront the Corona virus, with a plan for that to finance the publication of 100 thousand new electronic selling points, distributed geographically in all governorates and activated from the date of the initiative until the end of December 2020 according to a document published by Masrawy last Saturday.
Banks are expanding in dealing with various stores to publish payment transactions electronically via POS machines in implementation of the Central Bank’s instructions to limit cache trading to reduce Corona virus infection.
Banks include on the personal account card for direct debit (DEPT) the service of electronically buying (POS) machines from different stores such as commercial malls, supermarkets, and stores of electrical appliances and so on without any commission being calculated.
The central bank instructed banks last March to cancel fees and commissions applied to point of sale fees (POS) similar to the decision to cancel commissions from ATMs and electronic wallets for a period of 6 months, as part of a package of quick actions to counter the consequences of the Corona virus.
We offer daily purchase limits electronically from stores with a POS machine using a direct debit personal account card (DTP) at 11 banks:
1 – CIB Bank: 45 thousand pounds, the daily purchase limit in stores.
2- HSBC Bank: 50 thousand pounds daily purchase limit from stores.
3- QNB Bank: The limit of purchases from stores is 150 thousand pounds on cards (Classic), (Gold) and (Platinum).
4- SAIB Bank: It does not place a maximum limit on daily purchases from stores according to the credit card balance.
5- Blom Bank: 50 thousand pounds, the limit of daily purchases from stores.
6 – Emirates NBD: The daily purchase limit from stores ranges between 50 thousand pounds on the (standard) card, 250 thousand pounds on the (titanium) card, and 350 thousand pounds on the (platinum) card.
7 – First Abu Dhabi Bank: The limit of purchases from stores ranges between 20 thousand pounds on the (classic) card, and 80 thousand pounds on the (platinum) card.
8- Arab African International Bank: 100,000 pounds daily limit for purchases from stores.
9 – Bank of Alexandria: 100 thousand pounds daily limit purchases from stores.
10 – Banque Misr: It does not set limits on purchases every day, links them to the balance, and allows 100 daily transactions.
11 – Banque du Caire: 15 thousand pounds, the daily purchase limit, provided that it does not exceed 300 thousand pounds per month.