Banks start collecting withdrawals from ATMs starting today

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Banks start collecting fees and commissions applied to cash withdrawals from ATMs of banks not affiliated with the issuing bank, after the end of the initiative, 6 months today, Tuesday, as commissions range from 5 pounds to 20 pounds in banks operating in Egypt.

The Central Bank announced yesterday evening, Monday, the return of the deduction of 6-month deferred loan installments, during the coming days, from the accounts and salaries of the participants in the initiative, after the expiration, today, Tuesday, of the benefit delay initiative launched by the Central Bank of Egypt in the middle of last March, and 5 benefited from it. Millions of individuals and companies, with total deferred loans estimated at 2 trillion – equivalent to 1,000 billion – pounds for a period of 6 months as part of measures to mitigate the repercussions of the Coronavirus“.

During the loan postponement period, banks bore the impact of their cash flows as a result of delaying payment of loan installments, which confirms their national role in supporting the Egyptian economy, which has passed the most difficult stage in the Coronavirus crisis, especially since the Egyptian economy sectors have begun to work significantly while maintaining the necessary precautionary and preventive measures. To preserve the health of citizens, and not to be affected by business indicators and results.

The Central Bank of Egypt announced the postponement of loan installments and credit cards for a period of 6 months due to “Corona”, the cancellation of fees and commissions applied to fees for points of sale and withdrawals from ATMs and electronic wallets for a period of 6 months, and the provision of the necessary credit limits to finance working capital, especially paying the salaries of company employees. .





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