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InstaPay Launches Instant Transfers Between Bank Accounts in Egypt
InstaPay has launched a new service for millions of customers in Egypt, allowing instant transfers between different bank accounts registered under the same app account. The service aims to save time, simplify transactions, and speed up financial operations at the start of 2026. The official InstaPay social media pages confirmed that the service allows transfers without manually entering account…
Emefiele bows to pressure as CBN raises weekly individual withdrawal limits to N500,000, N5m for firms
Emefiele bows to pressure as CBN raises weekly individual withdrawal limits to N500,000, N5m for firms
The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. Individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals. “The maximum…
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The National Bank of Ukraine on Friday introduced a temporary limit on foreign-currency withdrawals from private cash accounts to counter a rush for cash amid a sharply depreciating national currency.
"The National Bank adopted a temporary decree, which limits withdrawal of cash from the current foreign-exchange accounts at the equivalent of 15,000 hryvnia ($1,500)" at the current exchange rate, the newly appointed chairman of the central bank, Stepan Kubiv, told reporters. He added that the limit will be lifted when Ukraine receives necessary aid, having requested assistance from the International Monetary Fund on Thursday.
No limits have been placed on hryvnia cash withdrawals. "Take as much as you want, a million or two million [hryvnia], there is enough liquidity in banks," Mr. Kubiv said.
Under the decree, customers can convert their foreign-currency savings into hryvnia before making withdrawals with no limit.
Many Ukrainians save their money in dollars and euros, and have rushed to withdraw their savings as the hryvnia has dropped. Seven percent of the deposits held in Ukraine's banks have been withdrawn in February.
