All You Need to Know About the Latest Restrictions to Spending Abroad ...Egypt

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All You Need to Know About the Latest Restrictions to Spending Abroad
Photo credit: Business Post Nigeria Last week, a number of banks in Egypt announced new restrictions on spending abroad, as well as limitations on cash withdrawals. Some Egyptians were also notified by their banks through text messages. Announced to be effective on the same day, Commercial International Bank (CIB) set the maximum monthly cash withdrawal limit for most debit and credit cards at EGP 2,500, while the maximum limit for spending abroad would be the equivalent of EGP 20,000 for most debit cards and EGP 25,000 for most credit cards. The limits vary depending on the card type whether it is prime, titanium, platinum, or another variety. For HSBC, the cash withdrawal limit per month r

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