Important Information to Know
FAQ:
Q.What is the circular about?
A.The circular is about enabling all account holders to withdraw cash from their foreign currency account(s) in LBP currency at MARKET RATE.
That’s not all! Bankmed has enhanced this feature to enable customers to transfer between their own foreign currency account(s) to LBP currency account(s) at market rate via MedOnline , MedMobile ,ITM and ATM network.
Q. How do I benefit from this circular?
A. 1) Transfers through MedMobile and MedOnline. Follow the below steps:
- Log into MedMobile and MedOnline
- Select “Transfers Money”,
- Select “Transfer between own accounts at Bankmed”
- Under “Transfer to” select your LBP account
- Under “Transfer From” select your USD account
- Enter the transfer amount deemed appropriate
- Select Transfer rate “Market Rate”
- Select the Transfer Now
- Confirm your Transfer
2) Transfers through Bankmed ATM and ITM network. Follow the below steps
when using the ATM:
- Insert your Debit Card
- Select your preferred language
- Enter your PIN number
- Select non-financial service
- Select the red button “Transfer between own accounts at Market Rate as per BDL circular 151”
- Select your USD account to transfer from
- Select your LBP account to transfer to
- Enter the transfer amount in LBP currency
- Confirm the message that will pop up showing the market rate and transfer amount
- Collect the receipt for this transaction
Q. Is there any limit on the transfers?
A.Yes. Limits are listed below as well as you may transfer your monthly limit one time.
Transfer limits:
Consolidated Balance (equivalent in USD)
|
Maximum Cash Withdrawal
|
Frequency
|
0.00 - 50,000
|
LBP 2,000,000
|
Daily or Weekly
|
LBP 3,900,000
|
Monthly
|
50,000 - 250,000
|
LBP 2,000,000
|
Daily or Weekly
|
LBP 7,800,000
|
Monthly
|
250,000 - 1,000,000
|
LBP 2,000,000
|
Daily
|
LBP 3,000,000
|
Weekly
|
LBP 11,700,000
|
Monthly
|
Above 1,000,000
|
LBP 2,000,000
|
Daily
|
LBP 3,900,000
|
Weekly
|
LBP 15,600,000
|
Monthly
|
Q.What is the Market rate?
A.The Market rate is a variable rate set by BDL, the rate will show on the ATM screen
Q.Is there any validity period for this offer?
A. This offer is valid until March 31,2021