Instruction No. 02/2025 of August 13 – Payment System: Value Limits on Operations in Payment Systems

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INSTRUCTION NO. 02/2025 of August 13
SUBJECT: PAYMENT SYSTEM

• Value Limits on Operations in Payment Systems

Whereas it is necessary to update the limits inherent to the use of payment instruments and compensation and settlement systems, in order to mitigate risks associated with their use; Considering the provisions of Notice No. 05/2015, dated April 20, on Standardized Cheque; Notice No. 08/2015, dated April 20, on Gross and Real-Time Transfers; Notice No. 05/2017, dated July 10, on the Regulation of Payment Cards and Multicaixa Network; and Notice No. 07/2017, dated June 7, on Payment Services; Pursuant to the combined provisions of Article 6 of Law No. 40/20, dated December 16 – Payment System Law, and Article 98(1) of Law No. 24/21, dated October 18 – Bank of Angola Law; HEREBY DETERMINES:

1. Object
   This Instruction establishes the value limits for payment instruments and systems within the Payment System of Angola.

2. Scope
   This Instruction applies to Financial Institutions supervised by the Bank of Angola, as provided for in paragraphs 2 and 3 of Article 7 of Law No. 14/21, dated May 19, General Regime for Financial Institutions Law.

CONTINUATION OF INSTRUCTION NO. 02/2025 Page 2 of 6

3. Limits for Cheque Issuance
   The maximum value for issuing a standardized cheque is set at Kz 9,999,999.99 (nine million, nine hundred ninety-nine thousand, nine hundred ninety-nine Kwanza and ninety-nine cents), and cheques issued with amounts exceeding this established limit shall not be accepted.

4. Limits for Transactions on the Multicaixa Network
   4.1 The maximum daily payment value is set at Kz 30,000,000.00 (thirty million Kwanza);
   4.2 Without prejudice to the preceding paragraph, the maximum value per payment operation for the Ministry of Finance, National Institute of Social Security (INSS), and Bank of Angola is set at Kz 99,999,999.99 (ninety-nine million, nine hundred ninety-nine thousand, nine hundred ninety-nine Kwanza and ninety-nine cents);
   4.3 The maximum daily withdrawal value, cumulatively, at Automated Teller Machines (ATMs) and Point of Sale Terminals (POS terminals) is set at Kz 180,000.00 (one hundred eighty thousand Kwanza);
   4.4 For the purposes of the preceding paragraph, the maximum daily withdrawal value at ATMs is set at Kz 120,000.00 (one hundred twenty thousand Kwanza);
   4.5 The maximum daily value for card-initiated transfers on the Multicaixa Network is set at Kz 9,000,000.00 (nine million Kwanza);
   4.6 The maximum daily value for card-initiated purchases at POS terminals is set at Kz 12,000,000.00 (twelve million Kwanza).

5. Limits for Multicaixa Network Service Commissions
   5.1 The commission charged to merchants for card purchases on the Multicaixa network with a value exceeding Kz 2,000.00 (two thousand Kwanza) shall not exceed 1% (one percent) of the purchase value, and this commission may not exceed Kz 12,000.00 (twelve thousand Kwanza);
   5.2 The service commission charged to merchants for Multicaixa card purchases with a value below Kz 2,000.00 (two thousand Kwanza) shall not exceed Kz 10.00 (ten Kwanza);
   5.3 For POS withdrawal operations with or without a card, not associated with a purchase, merchants may charge the customer a service commission of 2.5% (two and a half percent) of the withdrawal value;
   5.4 Merchants are prohibited from charging any other commissions to customers for cash withdrawal operations at POS terminals;
   5.5 The maximum service commission charged by the card-issuing bank to the cardholder for each balance inquiry and statement inquiry operation at ATMs, when performed on paper, is Kz 20.00 (twenty Kwanza);
   5.6 Pursuant to the preceding paragraph, the first four balance inquiries and the first two statement inquiries each month are exempt from service commissions;
   5.7 The maximum service commission charged by the card-issuing bank to the cardholder for each cash withdrawal operation at ATMs is Kz 20.00 (twenty Kwanza);
   5.8 Pursuant to the preceding paragraph, the first four cash withdrawals each month are exempt from service commissions.

6. Limits for Transfer Operations in the Credit Transfer System
   6.1 The maximum value per operation for transfers conducted within the Credit Transfer System (CTS) is set at Kz 50,000,000.00 (fifty million Kwanza);
   6.2 Without prejudice to the preceding paragraph, the following are exempt from these limits:
   a) Operations related to the Ministry of Finance, namely public sector salary payments, state-to-supplier payments, and single payment reference to the State (RUPE); b) Operations of the National Institute of Social Security, namely supplier payments and social benefit payments; and c) Operations related to the Bank of Angola, namely supervision fees, services provided to Financial Institutions, supplier payments, and salaries.

7. Limits for Direct Debit Instructions in the Direct Debit System
   7.1 The maximum value for operations related to Direct Debit Instructions (DDI) within the Direct Debit System (DDS) is set, per operation, at Kz 30,000,000.00 (thirty million Kwanza);
   7.2 Without prejudice to the preceding paragraph, operations of the Ministry of Finance and the National Institute of Social Security are exempt, namely tax collection from taxpayers' accounts through Direct Debit Instructions.

8. Limits for Operations in the Instant Transfer System
   The maximum daily values per transaction must comply with the following tables:

a) Limits for E-Money Accounts

Maximum Utilization Limits (AOA)	Type I	Type II	Type III	Type IV
Per Transaction	Kz 25,000.00	Kz 250,000.00	Kz 500,000.00	Kz 500,000.00
Per Day	Kz 50,000.00	Kz 2,000,000.00	Kz 3,000,000.00	Kz 4,000,000.00

CONTINUATION OF INSTRUCTION NO. 02/2025 Page 5 of 6

b) Limits for Bank Accounts

Maximum Utilization Limits (AOA)	Bankita	Individual Account	Corporate Account
Per Transaction	Kz 50,000.00	Kz 250,000.00	Kz 500,000.00
Per Day	Kz 150,000.00	Kz 2,000,000.00	Kz 4,000,000.00

9. Limits for Service Commissions in the Instant Transfer System
   a) Instant transfer and payment operations with a value equal to or below Kz 2,000.00 (two thousand Kwanza) are exempt from commission charges to customers; b) The maximum daily withdrawal value (cash out), at agents, is set at Kz 120,000.00 (one hundred twenty thousand Kwanza), per payment account.

10. Mandatory Value for Gross Settlement in the Real-Time Payment System
    a) For the purposes of Article 2 of Notice No. 08/15, dated April 20, the maximum value is set at Kz 50,000,000.00 (fifty million Kwanza), above which fund transfers within the Real-Time Payment System (RTPS) are mandatory; b) Without prejudice to the preceding paragraph, the following are exempt from these limits:
    i) Operations related to the Ministry of Finance to and from the Bank of Angola; ii) Operations of the National Institute of Social Security to and from the Bank of Angola.

11. Principle of Non-Discrimination in Pricing
    Price discrimination or the practice of discounts for payment services, in any payment system, based on the Payer and Payee, customer location, account identifiers used, or any other reference or characteristic is prohibited.

12. Sanctions
    Non-compliance with the provisions established in this Instruction constitutes an offense punishable under Law No. 40/20, dated December 16, Payment System Law of Angola, and Law No. 14/21, dated May 19, General Regime for Financial Institutions Law.

13. Repeal
    Instruction No. 09/24, dated December 19, Value Limits on Operations in Payment Systems, is hereby repealed.

14. Doubts and Omissions
    Doubts and omissions arising from the interpretation and application of this Instruction shall be resolved by the Bank of Angola.

15. Entry into Force
    This Instruction enters into force 30 (thirty) days after the date of its publication.

PUBLISHED.
Luanda, August 13, 2025.

THE GOVERNOR
MANUEL ANTÓNIO TIAGO DIAS