CIB tightens debit card rules, Crédit Agricole imposes new FX restrictions
CIB tightens debit card withdrawal rules for travelers outside Egypt, Crédit Agricole cuts-off debit card use abroad: CIB customers will no longer be able to make foreign currency withdrawals from their EGP accounts via debit card while abroad, the bank said yesterday in an update to its summary of limits on international use of its credit and debit card products. Purchase and cash advance limits for credit cards as well as for debit cards linked to USD accounts remain unchanged. You can check the latest update from CIB here and compare it to last month’s here. Crédit Agricole Egypt, meanwhile, stopped the use of debit cards outside of Egypt as of 1 September and stopped the use of its pre-paid cards abroad and for internet purchases. CAE has also banned the use of both its debit and credit cards for any online purchases in foreign currency, according to another Al Mal article. The bank also informed its customers that a number of unnamed institutions in Egypt will no longer accept foreign currency payments using Crédit Agricole cards. The bank will also halt the use of all its cards in China, Indonesia, Nepal, Thailand and the Dominican Republic.