BNA: Banks are prohibited from charging merchants a commission of more than 1% on purchases made with the Multicaixa card for amounts exceeding two thousand Kwanzas.

The value of the service commission to be charged to merchants for purchase transactions made with the Multicaixa card for amounts less than 2,000 Kz must not exceed 10 Kz.

The National Bank of Angola (BNA) has prohibited commercial banks from charging merchants commissions on purchase transactions made with the Multicaixa card for amounts exceeding 2,000 Kwanzas, which must not exceed 1% of the purchase value and must not exceed an amount of 12,000 Kwanzas.

According to the document published by the regulator, financial institutions must simply charge merchants 1% of the value for each purchase transaction made with the Multicaixa card for amounts between 2,000 and 12,000 Kwanzas.

According to INSTRUCTION No. 09/2024 of 19 December, which establishes the value limits for payment instruments and systems of the Angolan Payment System, in its paragraph b), the value of the service fee to be charged to merchants for purchase transactions using a Multicaixa card, with a value of less than 2,000 Kwanzas, must not exceed 10 Kwanzas.

And for withdrawal transactions at a POS with or without a card, not associated with a purchase, the Central Bank authorizes the merchant to charge a customer service fee of only 2.5% of the withdrawal value. The latter is expressly prohibited from charging a fee higher than that established by the regulator.

Furthermore, the same document establishes that the maximum value of the service fee to be charged by the card-issuing bank to the card-using customer for each balance inquiry and transaction inquiry at ATMs, when these are carried out on paper, is 20 Kwanzas.

Therefore, the bank has established a series of limits on the country's payment instruments and systems, including the issuance of standardized checks with a maximum value set at Kz 9 million and 999 thousand, limits on transactions in the Multicaixa network, a maximum daily payment value set at Kz 30 million, a maximum daily withdrawal value, cumulatively, at Automatic Teller Machines (AC) and Automatic Payment Terminals (TPA) set at Kz 180 thousand, a maximum daily value for purchases initiated by card, at TPA, set at Kz 12 million, a maximum daily withdrawal value, at AC, is Kz 120 thousand and finally the maximum daily value for transfers initiated by card, in the Multicaixa Network, set at Kz 9 million.

In this way, the maximum value per payment transaction, for the Ministry of Finance, National Institute of Social Security and National Bank of Angola, is set at Kz 99 million and 999 thousand Kwanzas.

BNA: Banks are prohibited from charging merchants a commission of more than 1% on purchases made with the Multicaixa card for amounts exceeding two thousand Kwanzas

The value of the service commission to be charged to merchants for purchase transactions made with the Multicaixa card for amounts less than 2,000 Kz must not exceed 10 Kz.

Jan 16, 2025 - 17:10
BNA: Banks are prohibited from charging merchants a commission of more than 1% on purchases made with the Multicaixa card for amounts exceeding two thousand Kwanzas
© Photography by: DR
BNA: Banks are prohibited from charging merchants a commission of more than 1% on purchases made with the Multicaixa card for amounts exceeding two thousand Kwanzas

The National Bank of Angola (BNA) has prohibited commercial banks from charging merchants commissions on purchase transactions made with the Multicaixa card for amounts exceeding 2,000 Kwanzas, which must not exceed 1% of the purchase value and must not exceed an amount of 12,000 Kwanzas.

According to the document published by the regulator, financial institutions must simply charge merchants 1% of the value for each purchase transaction made with the Multicaixa card for amounts between 2,000 and 12,000 Kwanzas.

According to INSTRUCTION No. 09/2024 of 19 December, which establishes the value limits for payment instruments and systems of the Angolan Payment System, in its paragraph b), the value of the service fee to be charged to merchants for purchase transactions using a Multicaixa card, with a value of less than 2,000 Kwanzas, must not exceed 10 Kwanzas.

And for withdrawal transactions at a POS with or without a card, not associated with a purchase, the Central Bank authorizes the merchant to charge a customer service fee of only 2.5% of the withdrawal value. The latter is expressly prohibited from charging a fee higher than that established by the regulator.

Furthermore, the same document establishes that the maximum value of the service fee to be charged by the card-issuing bank to the card-using customer for each balance inquiry and transaction inquiry at ATMs, when these are carried out on paper, is 20 Kwanzas.

Therefore, the bank has established a series of limits on the country's payment instruments and systems, including the issuance of standardized checks with a maximum value set at Kz 9 million and 999 thousand, limits on transactions in the Multicaixa network, a maximum daily payment value set at Kz 30 million, a maximum daily withdrawal value, cumulatively, at Automatic Teller Machines (AC) and Automatic Payment Terminals (TPA) set at Kz 180 thousand, a maximum daily value for purchases initiated by card, at TPA, set at Kz 12 million, a maximum daily withdrawal value, at AC, is Kz 120 thousand and finally the maximum daily value for transfers initiated by card, in the Multicaixa Network, set at Kz 9 million.

In this way, the maximum value per payment transaction, for the Ministry of Finance, National Institute of Social Security and National Bank of Angola, is set at Kz 99 million and 999 thousand Kwanzas.

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