Bank of Morocco Denied Issuing Official License To Decrease Maximum ATM Withdrawal Amount

 

---

 

By Mohammed Amine Qasserras

Morocco News Tribune

Kenitra, Morocco | Bank of Morocco officials said ” Morocco banking institutions are obliged to inform their customers in advance about the decisions of decreasingwithdrawal amounts permitted by ATM systems.

On the other hand, Moroccan daily’ Alalam’ reported that bank customers are entitled to submit a complaint to the Bank of Morocco If the terms of opening account contract were not respected.”

Some professional sources reported that a group of banks are working on agreeing on a certain maximum atm withdrawal amount because of a lack of liquidity.

The sources also pointed out that some of these banks lowered maximum atm withdrawal amount formerly from 5000 Dh ($591 )per day to 3,000 Dh ($354 ) , while other banks lowered that to 1,500 $177 )dirhams per day.