TPA cash withdrawal rate rises to 2.5%

Customers who wish to withdraw money through the Automatic Payment Terminal (TPA), with a minimum limit of 100 kwanzas, will pay a service commission of 2.5% on each operation, a percentage that will be automatically transferred to the account. merchant’s bank account.

According to Instruction 02/2024, of March 1, from the National Bank of Angola (BNA), the increase in this rate, from 1% to 2.5%, which does not cover purchase operations, aims to improve the cash dispensing service , through the TPA cash withdrawal service and adjust the rules and procedures inherent to the provision of this service.

The service fee is charged automatically by the system when processing the withdrawal, with the value of the operation being the total amount to be withdrawn plus the fee amount.

As an example, when withdrawing every thousand kwanzas in TPA, the customer must be deducted the desired amount (Kz 1000) plus 2.5% of the service commission (Kz 25), totaling 1,025 kwanzas.

According to the BNA, traders are prohibited from charging any other commissions to customers for cash withdrawal operations at TPA, with non-compliance with the provisions of the aforementioned instruction being subject to the application of sanctions provided for in Law No. 40/20, of 16 December – Law on the Payment System of Angola and Law no. 14/21, of 19 May – Law on the General Regime of Financial Institutions.

This instrument applies to commercial banks participating in the multicaixa system (card issuers accepted in the TPA network) and banks supporting TPAs, as well as to merchants who have contracted a TPA.

The cash withdrawal service at TPA comprises three types of operations: Purchase with withdrawal, withdrawal with card and withdrawal without card at TPA.

The respective operations can be carried out by presenting the card or using the 10-digit reference and the secret code obtained through the request previously made at Multicaixa Express, Caixa Automatico and Homebanking.

However, despite the BNA’s instructions, some traders in Angola still continue to charge a 10% fee on each TPA cash withdrawal. In other words, when withdrawing 1000 kwanzas, for example, the customer pays a fee of Kz 100. QCB