The Central Bank is studying the decision to impose a cash withdrawal commission:
Banking sources announced that the Central Bank of Egypt is considering, at its next meeting, the appropriate decision, whether to extend the suspension of the withdrawal commission or return it a second time, as the Central Bank obligated banks to cancel fees and commissions for cash withdrawals from ATMs from March 2020 until the end of this month.
This is part of the precautionary measures to confront the Corona virus, and it will be for a period of six months ending on the 15th of this September, which works to motivate customers to automate their payments, while the Central Bank’s decision came to stop imposing Fee Commissions on withdrawals from ATMs in banks.
As it is in 3 stages after discussion and approval of the Central Bank Board of Directors, in order to facilitate and simplify electronic services in front of customers in light of Corona, and before the epidemic virus crisis, the banks decided to impose fees on each cash withdrawal process, for non-customers who use the bank’s ATM machines. And the value ranges between 5 pounds to 10 pounds, according to the policy of each bank.