Instruction No. 09/2024, of December 19

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INSTRUCTION NO. 09/2024 of December 19
SUBJECT: PAYMENT SYSTEMS - Value limits on operations carried out in payment systems

Whereas it is necessary to update the limits related to the use of payment instruments and clearing and settlement systems, in order to mitigate risks associated with their use; Considering the provisions of Notice No. 05/2015, of April 20, on standardized checks, Notice No. 08/2015, of April 20, on gross and real-time transfers, Notice No. 05/2017, of July 10, on the regulation of payment cards and Multicaixa network, and Notice No. 07/2017, of June 07, on the provision of payment services; Under the combined provisions of Article 6 of Law No. 40/20, of December 16 – Payment Systems Law, and Article 98(1) of Law No. 24/21, of October 18 – National Bank of Angola Law.

I HEREBY DETERMINE:

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

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

CONTINUATION OF INSTRUCTION NO. 09/2024 Page 2 of 6
3. Limits on Check Issuance
The maximum value for issuing a standardized check is set at Kz 9,999,999.99 (nine million, nine hundred and ninety-nine thousand, nine hundred and ninety-nine Kwanzas and ninety-nine cents), and checks issued with amounts exceeding the established limit are not accepted.

4. Limits on Multicaixa Network Transactions
   a) The maximum daily payment value is set at Kz 30,000,000.00 (thirty million Kwanzas); b) Without prejudice to the preceding paragraph, the maximum value per payment operation for the Ministry of Finance, National Institute of Social Security, and National Bank of Angola is set at Kz 99,999,999.99 (ninety-nine million, nine hundred and ninety-nine thousand, nine hundred and ninety-nine Kwanzas and ninety-nine cents); c) The maximum daily withdrawal value, cumulatively, at Automated Teller Machines (ATMs) and Payment Terminals (PTPs), is set at Kz 180,000.00 (one hundred and eighty thousand Kwanzas); d) For the purposes of the preceding paragraph, the maximum daily withdrawal value at ATMs is set at Kz 120,000.00 (one hundred and twenty thousand Kwanzas); e) The maximum daily value for card-initiated transfers on the Multicaixa Network is set at Kz 9,000,000.00 (nine million Kwanzas); f) The maximum daily value for card-initiated purchases at PTPs is set at Kz 12,000,000.00 (twelve million Kwanzas).

5. Limits on Multicaixa Network Service Fees
   a) The commission charged to merchants for purchases with the Multicaixa card valued above Kz 2,000.00 (two thousand Kwanzas) must not exceed 1% (one percent) of the purchase value, and this commission may not exceed Kz 12,000.00 (twelve thousand Kwanzas); b) The service commission charged to merchants for Multicaixa card purchases valued below Kz 2,000.00 (two thousand Kwanzas) must not exceed Kz 10.00 (ten Kwanzas); c) For withdrawal operations at PTPs with or without a card, not associated with a purchase, the merchant may charge the customer a service commission of 2.5% (two and a half percent) of the withdrawal value; d) Merchants are prohibited from charging any other commissions to customers for cash withdrawal operations at PTPs; e) 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 Kwanzas); f) In accordance with the preceding paragraph, the first four balance inquiries and the first two statement inquiries each month are exempt from service commissions; g) 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 Kwanzas); h) In accordance with the preceding paragraph, the first four withdrawals each month are exempt from service commissions.

6. Limits on Credit Transfer System Operations
   a) The maximum value per operation for transfers carried out in the Credit Transfer System (CTS) is set at Kz 50,000,000.00 (fifty million Kwanzas); b) Without prejudice to the preceding paragraph, the following are exempt from said limits:
   i. Operations related to the Ministry of Finance, namely public service salary payments, state payments to suppliers, and payments via Single Payment Reference (RUPE);
   ii. Operations of the National Institute of Social Security, namely payments to suppliers and payments related to social benefits; and,
   iii. Operations related to the National Bank of Angola, namely supervision fees and payments for services provided to Financial Institutions.

7. Limits on Direct Debit Instructions in the Direct Debits System
   a) The maximum value for operations related to Direct Debit Instructions (DDI) in the Direct Debits System (DDS) is set, per operation, at Kz 30,000,000.00 (thirty million Kwanzas); b) 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 via Direct Debit Instructions.

8. Limits on 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 | Type V |
   |---|---|---|---|---|---|
   | Per transaction | Kz 25,000.00 | Kz 50,000.00 | Kz 250,000.00 | Kz 500,000.00 | Kz 500,000.00 |
   | Per day | Kz 50,000.00 | Kz 150,000.00 | Kz 2,000,000.00 | Kz 3,000,000.00 | Kz 4,000,000.00 |

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 on Service Fees in the Instant Transfer System
   a) Instant transfer and payment operations valued at or below Kz 2,000.00 (two thousand Kwanzas) are exempt from commission charges to customers; b) The maximum daily value for withdrawals (cash out) via agents is set at Kz 120,000.00 (one hundred and twenty thousand Kwanzas), 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, of April 20, the maximum value is set at Kz 50,000,000.00 (fifty million Kwanzas), above which fund transfers in the Real-Time Payment System (RTPS) are mandatory; b) Without prejudice to the preceding paragraph, the following are exempt from said limits:
    i) Operations related to the Ministry of Finance to and from the National Bank of Angola; ii) Operations of the National Institute of Social Security to and from the National Bank of Angola.

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

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

13. Repeal
    Instruction No. 24/21, of December 07, Value Limits on Operations Carried Out in Payment Systems, is hereby repealed.

14. Doubts and Omissions
    Doubts and omissions resulting from the interpretation and application of this Instruction are resolved by the National Bank of Angola.

15. Entry into Force
    This Instruction enters into force 30 (thirty) days after the date of its publication.
    PUBLISHED.
    Luanda, December 19, 2024.
    THE GOVERNOR
    MANUEL ANTÓNIO TIAGO DIAS