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Banks prioritize credit cards and cheques for foreign currency sales

Wed, 15 Jan 2020 12:57 - Updated Wed, 15 Jan 2020 12:57

Banks prioritize credit cards and cheques for foreign currency sales Photo: Divulgação

Luanda - The USD 120,000 per year that the citizens have the right to buy, since the 2nd of January this year, from the commercial banks aimed for private operations, for travel expenses and supporting relatives abroad, will be available preferably through international payment cards.

In addition to credit cards, according to the Central Bank of Angola (BNA)’s notice number 12/2019, which came into force on the 2nd of January, for the above mentioned purchase of foreign exchange it will also be allowed bank transfers, non-endorsable personal cheques or other similar international payment instruments.

Citizens may also receive currency in cash or in kind, when the amounts are intended to cover travel expenses abroad, and financial institutions should make available the most appropriate payment modes for the purpose of the operation.

For the operation of purchase of currency in commercial banks or exchange bureaus, the assessment of the applicant's financial capacity, within the scope of the rules to prevent and combat money laundering crimes and terrorism financing established by the Central Bank is a compulsory requirement.

This new measure of the Central Bank ended with the obligation of customers to present supporting document (visa, travel ticket and others), to have access to the purchase of foreign currency.

However, at commercial bank counters, the customer must present only a copy of the identity card and taxpayer card.

The Central Bank recommends that in case of difficulties towards the foreign exchange operations covered by the Notice number 12/2019 in an authorized institution to do the foreign exchange, the customers must report the complaints to the Central Bank Financial Conduct Department, via the email address: