Regulatory Alerts2020-12-08
Added · Updated
Instruction No. 19/2020 of December 9 on Payment System - Value limits for operations carried out in payment systems
This Instruction, applicable to financial institutions supervised by the National Bank of Angola, updates value limits for payment operations. It sets the maximum value for issuing a standardized check at Kz 9,999,999.99. For the Multicaixa Network, it establishes a daily payment limit of Kz 19,999,999.99 per card, a daily withdrawal limit of Kz 60,000.00, a daily card-initiated transfer limit of Kz 5,000,000.00, and a daily POS purchase limit of Kz 6,000,000.00. It also specifies service fee limits for Multicaixa card purchases and sets maximum operation values for the Credit Transfer System and Direct Debit System at Kz 19,999,999.99, with exemptions for the Ministry of Finance and the National Social Security Institute. Furthermore, it mandates gross settlement in the Real-Time Payment System for transfers exceeding Kz 20,000,000.00, with exceptions for the Ministry of Finance and the National Social Security Institute. Instruction no. 07/2019, of July 5, is revoked, and this instruction enters into force 30 days after its publication.