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Wednesday, 20 July 2016

Emirates NBD backtracks on blocking Egyptian customers from using credit and debit cards abroad

Emirates NBD Egypt customers can continue using their credit and debit cards abroad after the bank reversed a decision to halt their use, Al Borsa reports. The reversal was confirmed by Deputy Managing Director Sahar El Damati, who stated that the bank had not stopped their use at all. El Damati had told Al Masry Al Youm the bank “just revised the limits that can be withdrawn abroad” and has not blocked credit card usage. The bank had sent customers via SMS reading: “Dear Valued Customer, please note that Emirates NBD cards will be disabled for international use outside Egypt only effective 24th of July 2016 till further notice. Apologies for any inconvenience.” The message did not provide details on the type of cards blocked, but bank employees told Reuters it applied to both credit and debit cards. Reuters picked up the bank’s statement later on that day saying it hadn’t stopped cards from working.

Meanwhile, Crédit Agricole Egypt has sent its customers an SMS message informing them that the bank was revising its limit of their USD withdrawal outside of Egypt. We’re told by sources in the industry that most banks are preparing to announce cuts to their FX purchase limit for cardholders traveling abroad.

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