To mitigate the risks associated with the use of clearing and settlement instruments and payment systems, the National Bank of Angola’s (BNA) recently approved new limits on their use.
Among others, Instruction No. 9/2024, of 19 December 2024, sets the following rules:
- Issuing Checks: The maximum amount for issuing a standard check is set at Kz 9,999,999.99 (nine million, nine hundred and ninety-nine thousand, nine hundred and ninety-nine Kwanzas and ninety-nine cents).
- Transactions on the “Multicaixa Network”:
- The maximum daily value of payments is set at Kz 30,000,000.00 (thirty million Kwanzas);
- The maximum daily value for withdrawals, cumulatively, from Automated Teller Machines (ATMs) and Automatic Payment Terminals (APTs) is set at Kz 180,000.00 (one hundred and eighty thousand Kwanzas); and
- The maximum daily value of purchases initiated by card, at APTs, is set at Kz 12,000,000.00 (twelve million Kwanzas).
- “Multicaixa Network” Service Commissions
- The commission charged to retailers for Multicaixa card purchases exceeding Kz 2,000.00 (two thousand Kwanzas) must not exceed 1% (one percent) of the purchase value, with a maximum of Kz 12,000.00 (twelve thousand Kwanzas);
- The service commission for Multicaixa card purchases below Kz 2,000.00 (two thousand Kwanzas) must not exceed Kz 10.00 (ten Kwanzas); and
- For withdrawals at APTs, with or without a card, not associated with a purchase, retailers may charge a customer service commission of 2.5% of the withdrawal value.
This Instruction comes into force on 18 January 2025 and repeals Instruction No. 24/21, of 7 December 2021.
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