National Bank of Angola sets limit on payments system
The National Bank of Angola (BNA) has determined the limits of values to be moved in the country's payment system.
The maximum amount for issuing a standardized check is set at nine million, nine hundred and ninety-nine thousand, nine hundred and ninety-nine kwanzas and ninety-nine cents (AKz 9,999,999.99).
In relation to the maximum daily value of withdrawals in ATMs and Automatic Payment Terminals (TPA) is set at AKz 50 thousand, per payment card.
The maximum daily amount of payments in the Multicaixa payment card arrangement, per payment card, is set at AKz 20 million.
The maximum amount per payment transaction for the Ministry of Finance is subject to the limit of Ninety-nine million, nine hundred and ninety-nine thousand, nine hundred and ninety-nine Kwanzas and ninety-nine cents (AKz 99,999,999.99), without prejudice to the rule of the previous point.
The maximum daily amount for transfers initiated by card is set at three million Kwanzas (Kz 3,000,000.00) per payment card.
The maximum daily amount of purchases in TPA per payment card is set at six million kwanzas (AKz 6,000,000).
The amount to be charged to the service commission in the purchase transactions with the Multicaixa card, of more than one thousand kwanzas, may not exceed one percent of the purchase value, with a maximum limit of AKz two thousand kwanzas.
In purchase transactions of a thousand kwanzas or less with the Taka Multicaixa card, no merchant service fee (TSC), Interchange Fee will be required, nor will the processing fee be charged.
In the area of transfers, the maximum amount for operations carried out in the Credit Transfer System (CTS) is set at Kwanzas 20 million, but the operations related to the Ministry of Finance, namely payment of civil service salaries and State payments to its suppliers , due to their nature, are not subject to limits.
The document also establishes that the maximum amount for direct debit instruction (IDD) operations in the Direct Debit System (SDD) is set, per operation, at Kwanzas 20 million, and are not subject to limits, the nature of the operations related to the Ministry of Finance, namely collection of taxes from taxpayers' accounts through IDD in the Direct Debit system (SDD),
Similarly, the instructor defines the amount above which the transfer of funds in the Real Time Payment System (SPTR), fixed at Kwanzas 20 million (provided for in Article 2 of Notice No. 08/15 of April 20).
These new rules are intended for financial institutions under the supervision of the National Bank of Angola. Failure to comply will result in penalties under the Payment System Law (Law no. 5/05 of July 29) and the Basic Law of Financial Institutions.
