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.
Q.Is there any application I need to submit?
A.No need to submit any application.
Q.How do I benefit from this circular?
A.With your Debit card, you can withdraw cash from any Bankmed ATM or ITM using the newly developed functionality “LBP at market rate”.
You need to follow the below steps when using the ATM
Insert your Debit Card
Select your preferred language
Enter your PIN number
Select Cash withdrawal service
Select your USD Account Number
Select the following cash notes currency (USD Market Price)
The following message will pop up showing the market rate message:
The amount will be dispensed in LBP cash notes at the rate “rate” per USD
Press on “Continue” button.
Select the required amount for cash withdrawal
Take a receipt for this transaction
Q.Is there any limit on cash withdrawals?
A. You may withdraw cash from your foreign currency account in LBP currency based on market rate as per BDL basic circular 151, take into consideration your total withdrawal limit set as following:
1. Conversion Limit: You may convert your monthly limit one time.
Consolidated Balance (equivalent in USD)
|
Maximum
Transfer Limit
In LBP Currency
|
Maximum
Transfer Limit
In USD Currency
|
Frequency
|
From (greater than)
|
To (less than or equal)
|
1
|
250,000 |
LBP 12,000,000
|
USD 1,500 |
Monthly |
250,000
|
Above 1,000,000 |
LBP 24,000,000
|
USD 3,000 |
Monthly |
2. Withdrawal Limit:
Consolidated Balance (equivalent in USD)
|
Maximum Cash
Withdrawal Limit
|
Frequency
|
From
(greater than)
|
To
(less than or equal)
|
1 |
5,000 |
LBP 2,500,000
|
Daily |
LBP 3,000,000*
|
Monthly |
5,000 |
50,000 |
LBP 2,500,000
|
Daily |
LBP 5,000,000
|
Weekly / Monthly
|
50,000 |
250,000 |
LBP 2,500,000
|
Daily |
LBP 5,000,000
|
Weekly |
LBP 8,000,000
|
Monthly |
250,000 |
1,000,000 |
LBP 2,500,000
|
Daily |
LBP 5,000,000
|
Weekly |
LBP 12,000,000
|
Monthly |
Above 1,000,000 |
LBP 2,500,000
|
Daily |
LBP 5,000,000
|
Weekly |
LBP 16,000,000
|
Monthly |
*As of May 1st, 2022.
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 June 30, 2022