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A large number of citizens are currently looking for the maximum withdrawal limit from the InstaPay application Insta payIn the following lines, Al-Masry Al-Youm discusses the details of withdrawal limits from the InstaPay application, the Central Bank said in a previous statement.
The maximum withdrawal limit from the Insta-Pay application
According to the recent decisions of the Central Bank… Withdrawal limits from the InstaPay application (details)
Ihab Nasr, deputy deputy governor of the Central Bank of Egypt in the field of banking and payment systems, confirmed in previous statements during his participation in the ICT exhibition in Cairo that the central bank will start charging fees for money transfers via “InstaPay” application from the beginning 2024, and that after the end of the exemption from charging fees for application transactions granted by the Central Bank, Nasr did not clarify the amount of fees expected to be charged at that time, but stated that “they will be small fees.”
On Thursday, December 28, 2023, the Central Bank decided to indefinitely postpone the collection of fees for the InstaPay application. The central bank also issued instructions to banks participating in the real-time payment network InstaPay to postpone charging fees on transactions indefinitely.
Find out: “Available to Egyptians abroad”… How to pay bills through the InstaPay application and which banks it supports
Restrictions on cash withdrawals from the Insta Pay application
The Central Bank explained in a circular published on its website that the maximum limits were modified by the applications of approved service providers contained in Clause No. (3-1-4) of the Rules Governing the InstaPay Instant Payment Application Services it offers called The national system for real-time payments.
The Central Bank noted in its statement that this change was made in the light of the analysis of data on transactions of the national system for real-time payments, which showed an increase in the number and value of transactions processed through the aforementioned system, which the reflects the need to increase the daily and monthly limits for transactions carried out through the InstaPay application to reflect the different segments and use cases that have emerged recently.
Withdrawal limits from the Insta-Pay application
According to the recent decisions of the Central Bank… Withdrawal limits from the InstaPay application (details)
Regarding the question that customers are looking for regarding withdrawal limits from the InstaPay application, the Central Bank announced the limits as follows:
– The central bank sets the maximum value for a transaction InstaPay app 70,000 pounds.
– The maximum transaction value per day has been reached InstaPay app It’s 120,000 pounds.
– The maximum transaction value during the month has been reached InstaPay application The amount is £400,000.
Continued: The Central Bank announces the number of “InstaPay” users and the volume of Egyptian transactions
What is the InstaPay application?
According to the recent decisions of the Central Bank… Withdrawal limits from the InstaPay application (details)
The InstaPay application is an application licensed and approved by the Central Bank of Egypt with the aim of providing real-time payment services. This application was developed by Egyptian Banks Company.
Read more: The new method of InstaPay transfer … via the phone number to the bank account
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