Breathe Easy Because There’s No New Limit on Debit Cards Abroad

It looks like we can all breathe a sigh of relief, especially those of us traveling (or living) abroad. The Central Bank of Egypt says there is not a ban on using Egyptian debit cards abroad and they can be used as usual, despite news reported last week.

“The Central Bank of Egypt affirms the continued use of all cards, debit or credit, under existing limits set by each bank,” Reuters reported the CBE as saying in a statement.

The statement clarified that what was interpreted as a blanket ban on Wednesday will only apply “to individuals misusing debit cards to acquire large amounts of foreign currency without a clear reason for doing so, which saps banks’ foreign reserves.”

“It is up to each bank to set limits on its clients’ usage of foreign currency abroad through debit cards linked to local currency accounts, but we need vigilance because some clients use debit cards to get large dollar amounts not intended for travel, tourism, or shopping,” Central bank Governor Tarek Amer said Thursday.

WE SAID THIS: So breathe easy, you will be able to use your cards as usual. We hope you didn’t cancel your travel plans!