The National Bank of Angola (BNA) published Instruction no..
With the gradual departure of the Covid 19 pandemic and the almost total opening of tourist and business trips, as in the pre-pandemic phase, leading millions of citizens to travel, there is a need to review the instruments and means of payment, always in compliance with the needs of financial customers, security, speed and convenience, as applied as characteristics of credit cards.
According to the Instruction in question, in its point 2 and its sub-points, it is up to the banks to evaluate each customer for assigning or not the means of payment such as the credit card, which in many cases can replace cash (cash), both in national territory and abroad.
Each bank is responsible for carrying out a prior assessment of its customers regarding their financial capacity, namely the financial capacity of the origin of the funds to constitute the collateral, as is the case with post-paid credit cards.
Banks may issue pre-paid credit cards (if the financial institution has it in the portfolio) or post-paid credit cards, forcing the bank to inform the customer in advance of the amount of collateral to be deposited by the customer, and the amount ‘collateralised’ is renumbered as a deposit (passive transaction), which each institution practices at a given time. The collateral amount cannot exceed the assigned post-paid credit card ceiling amount.
It should be noted that Notice no. 5/21, of 14 April of the BNA, establishes the rules and procedures for carrying out foreign exchange operations by individuals, the same which applies subsidiarily to Instruction no. 8/22, of 1 of August, and one of the rules is the annual limit of private operations (investments, personal expenses, family help, has a limit of 250,000 USD as a reference value, which can be considered as an extremely satisfactory amount for the general needs of the This is the limit that banks can assign as a ceiling on credit cards, whether prepaid or postpaid.