Ver Angola

Banking and Insurance

Central Bank extends to 100,000 kwanzas daily lifting in automatic box

The National Bank of Angola (BNA) has updated the limits inherent in the use of instruments and payment systems by widening to 100,000 kwanzas the maximum value of daily survey by card in auto box.

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According to the document with the new values ​​of 7 December, the need to update the limits inherent in updating instruments and payment systems, compensation and settlement and the use of electronic currency arises in order to "mitigate the risks associated with their use".

The document establishing the limits of amounts for the issuance of checks, carrying out operations in the multicola network, in the compensation and settlement systems in the instant transfer system Enter into force on 7 January 2022.

The maximum value for issuing a standard check will be set at 9.9 million kwanzas "and checks issued with amounts greater than the established limit".

In relation to the maximum value of transactions in the multicola network, the daily amount of payments in the arrangement of payment cards, by card, is set at 19.9 million kwanzas.

The maximum amount by payment for the Ministry of Finance and National Social Security Institute is subject to the limit of 99.9 million kwanzas.

For the maximum daily value of surveys, by payment card, cumulatively, in automatic boxes and automatic payment terminals, the BNA fixes the amount of 150 thousand kwanzas.

The measure also determines that the daily maximum value for card-initiated transfers is fixed at 5 million kwanzas per payment card and the daily maximum value for transfers initiated at automatic payment terminals per card is set at 10 million kwanzas.

For the purpose of charging commissions in purchase operations with the multi-value card of value than 2,000 kwanzas, whose maximum limit is 9 thousand kwanzas, "the amount to be charged should not exceed 1 percent of the purchase value."

The document signed by the Governor of BNA, José de Lima Massano, also determines that the value of the service commission to be charged in purchasing operations with the multicola card, of less than 2 thousand kwanzas should not exceed 10 kwanzas.

The maximum value of the customer service commission to be charged at the surveys and automatic payment terminal is set at 1 percent with a minimum of 50 kwanzas.

Regarding the maximum value for transactions in the transfers carried out in the credit transfer system is fixed at 29.9 million kwanzas.

The document, which enter into force 30 days after the date of its publication, also provides for penalties to financial institutions under the supervision of the National Bank of Angola in case of non-compliance with the established provisions.

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