Regulatory Alerts2024-04-15
Added · Updated
Cash Withdrawal Limits Circular - April 15, 2024
The daily maximum limit for cash withdrawals from bank branches has been increased to EGP 250,000 for individuals and companies, and from ATMs to EGP 30,000. Banks are required to review and update their internal policies to reflect these new limits, and also to update their maximum cash withdrawal policy for foreign currencies, ensuring Board approval and periodic updates. These changes are effective from April 15, 2024.
Cairo on: April 15, 2024 Mr. / Chairman of the Board of Directors, Bank Greetings,
Referring to the letter issued on August 25, 2022, regarding the maximum limits for cash withdrawal and deposit operations, whether from bank branches or ATMs, and within the framework of the Central Bank's keenness to provide more facilitation for citizens and companies, it has been decided to increase the daily maximum limit for cash withdrawals from bank branches to become EGP 250,000 for individuals and companies, and from ATMs to become EGP 30,000.
Furthermore, I would like to emphasize the review of your esteemed bank's internal policy to reflect the limits mentioned above, along with updating your bank's maximum cash withdrawal policy for foreign currencies, having it approved by the Board of Directors, and updating it periodically.
Please be advised to take the necessary actions to implement the above starting from this date.
Please accept our highest regards, Hassan Abdalla