The Central Bank of Egypt (CBE) has increased the daily and monthly spending limits for digital payments made using apps like InstaPay.
The Central Bank has announced the following withdrawal limits
- Maximum amount per transaction: 70,000 Egyptian Pounds.
- Maximum daily amount: 120,000 Egyptian Pounds.
- Maximum monthly amount: 400,000 Egyptian Pounds.
This announcement from the CBE sets the maximum amount of money that can be withdrawn or transferred using the InstaPay app. These limits apply to each individual transaction, daily total, and monthly total.
This move aims to accommodate the various segments of users and the emerging use cases in recent time.
InstaPay is a licensed and authorized application by the CBE to provide instant payment services. This application was developed by the Bank of Egypt.
