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Central Bank sets daily cash withdrawal cap
Following the recent decision by the Central Bank of Egypt, the daily cash withdrawal limits from bank branches and ATMs have been set at 30,000 Egyptian pounds. The maximum daily withdrawal limit for local currencies was increased to 250,000 pounds in April, up from 150,000 pounds previously. Additionally, the use of the InStapay app for instant withdrawals via bank accounts has been permitted, allowing withdrawals of up to 70,000 pounds per transaction and a maximum of 120,000 pounds per day. These adjustments, aimed at facilitating banking transactions, have resulted in a noticeable increase in withdrawal limits compared to previous periods, with the goal of easing financial dealings amid the growing reliance on digital services.
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