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National Bank of Angola fixes limits in country's payment systems

Wed, 10 Jul 2019 13:17 - Updated Wed, 10 Jul 2019 13:17

National Bank of Angola (BNA) head-office (luanda). Photo: Francisco Miudo

Luanda - The National Bank of Angola (BNA) has determined limits in the amount that can be transitioned in payment systems all over the country, ANGOP learnt from a document the Central Bank issued on July 5.

The maximum amount stipulated for normalized cheque issuance has been fixed at 9.9 million of kwanzas, while the maximum sum per day that can be transitioned at Automated Teller Machine (ATM) is of 50,000 kwanzas.

Therefore, the highest value for purchase paid by ATM system has been fixed at 6 million of kwanzas.

In the meantime, the highest value to be transferred under the Credit Transfer System (STC) is of 20 million of kwanzas.

The legal tool also sets the amount of 20 million kwanzas as the highest value to be transitioned in the Direct Debt System (SDD).

The new rules are addressed for financial institutions under BNA’s supervision. Non compliance with them will incur in sanctions as contained in the payment system law.