Notice No. 07/GBM/2024 of 29 February 2024 establishes the transaction limits applicable to Electronic Money Institutions, which are defined by the Law on Credit Institutions and Financial Companies, as financial companies authorised to provide payment services, whose main purpose is to issue means of payment in the form of electronic money.
Under the terms of Notice 07, EMIs must comply with the following transaction limits, when carrying out their business:
TRANSACTION LIMITS IN METICAIS
Customer classification according to risk level
LEVEL 1
LEVEL 2
LEVEL 3
Maximum account balance
200.000 MZN
500.000 MZN
3.000.000 MZN
Daily transfer and withdrawal limit
200.000 MZN
500.000 MZN
3.000.000 MZN
Monthly transfer limit
-
-
-
Annual transfer limit
500.000 MZN
-
-
Transfer and withdrawal limit per transaction
40.000 MZN
75.000 MZN
-
The following organisations are exempt from applying the above limits: medium and large companies and Public Administration bodies and institutions.
We would also like to inform that Notice 07 comes into force 30 days after its publication.
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Read the original publication at Sal & Caldeira Advogados
