AZE.US
Azerbaijan’s banking sector has clarified that new rules governing card transactions do not impose limits on card-to-card transfers or spending, amid public confusion over recently announced restrictions.
Zakir Nuriyev, president of the Azerbaijan Banks Association (ABA), told AzTV that the measures apply specifically to incoming deposits to payment instruments, rather than outgoing transactions.
“We are not introducing any restrictions on card-to-card transactions,” Nuriyev said.
Under the agreed rules, each payment instrument may receive up to five incoming deposits per day, while monthly incoming deposits are subject to a baseline limit of 20,000 manats.
A commission may be charged when the number of qualifying incoming deposits exceeds the established threshold.
Nuriyev stressed that customers will continue to be able to spend or transfer money from their accounts as before, with no new restriction imposed on outgoing transactions.
The rules also provide exemptions for certain transactions, including transfers between a customer’s own accounts and qualifying transfers involving close relatives.
The clarification follows concerns that the new requirements could amount to broad restrictions on everyday card-to-card transfers.
According to the ABA, however, the measures are intended primarily as risk-based controls on incoming funds, not as limits on how customers use money already held in their accounts.
AZE.US