NBE loosens FX restrictions as banking sector liquidity concerns ease: The National Bank of Egypt (NBE) has raised its FX usage limits for credit cards, the bank announced on its website. Customers wanting to use their cards abroad and those with FX expenses to pay at home will automatically have access to the increased limits.

The new monthly transaction limits:

  • Visa Gold and Mastercard Titanium will have a limit of the FX equivalent of EGP 25k, up from EGP 7.5k previously;
  • Visa Platinum, Mastercard Platinum, and UEFA Champions League Mastercard will have a limit equal to EGP 40k, from EGP 12.5k previously;
  • Mastercard World, Visa Signature, Mastercard World Elite, Visa Infinite, and Corporate Credit Cards will have an FX limit matching EGP 60k, from EGP 20k previously.
  • Limits on Visa Classic, MasterCard Standard, and MasterCard EgyptAir cards were kept unchanged at the FX equivalent of EGP 5k.

You can unlock a much larger limit for spending abroad if you get in contact in advance: The bank’s customers can pop into a branch or jump on the phone at least 48 hours before they travel to unlock a substantially larger spending limit for overseas. The limits for different card types are listed here (pdf).

But with one important caveat for wanting the larger limit: Customers must provide proof of travel no more than 90 days after the bank unlocks the larger spending limit. Failure to do so can result in a negative rating from I-Score Egypt that can seriously complicate accessing banking services.

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