Regulatory Alerts2024-03-01
Instruction No. 02/2024 of March 1 – Payment System: Cash Withdrawal at Automated Payment Terminal
The National Bank of Angola issues Instruction No. 02/2024 to establish comprehensive rules for cash withdrawal operations at Automated Payment Terminals (TPAs), specifying that commercial banks and merchants must implement a service where purchase-linked withdrawals are commission-free while standalone withdrawals incur a 2.5% fee (minimum Kz 100). The directive mandates strict authorization protocols, requires merchants to guarantee the authenticity and quality of dispensed banknotes, and obliges banks to activate the service within 30 business days. Furthermore, it repeals prior regulations, assigns dispute resolution to the central bank, and subjects non-compliance to sanctions under Angola's Payment System and Financial Institutions laws.