Standard payment-card limits in Azerbaijan apply separately to each card product offered by each bank, rather than to a customer’s total number of cards, the Azerbaijan Banks Association said.
A customer may obtain one card in manats and one in each foreign currency for every card product a bank offers.
The restriction does not apply to salary, pension or other social-benefit cards. Cards linked to business and deposit accounts are also exempt.
Electronic-Money Accounts
For payment accounts connected to electronic money, the baseline arrangement allows two accounts in manats and one account in each foreign currency.
The association said the figures are not an absolute prohibition. A bank or electronic-money institution may raise the limit for an individual customer when the customer explains the intended use, the planned transactions are consistent with available information about the client, and there are no signs the accounts will be used unlawfully.
The ABA said the risk-based rules are intended to reduce risks and improve payment-system security, rather than restrict citizens’ ability to make payments.
Source: Vesti Baku.