NBA cuts commissions on foreign exchange transactions

NBA cuts commissions on foreign exchange transactions

Banco Nacional de Angola/Divulgação

The BNA established ceilings for commissions and expenses charged by commercial banks in foreign currency transactions and for the exchange margin applied in certain operations, setting them at 0.25 per cent on the sale of foreign currency.

The notice of the National Bank of Angola (NBA), published on Monday, establishes this same margin paid on credit in foreign currency, however, increasing to 0,50 percent in the fees for letters of credit used in import transactions.

The maximum margin to charge for the prepaid card is 3.00 percent and credit card, the cash advance in ATM or bank branch the commission stands at 7, 5 percent, down to the 3, 00 in purchases and payments, while in the sale of notes and Foreign currency the percentage lowers to 2.00 euros.

In the notice, BNA warns that it will not be allowed to charge any other commissions, expenses or costs on operations in foreign currency, including those related to the use of credit cards or prepaid abroad, in addition to what is established, without prior authorization from the central bank.

Read more in Jornal de Angola