NCB Lowers Online Transaction Limits in Response to Rising Cyber Threats

The National Commercial Bank (NCB) has announced a series of adjustments to its online transaction limits.

The move is part of the bank’s ongoing efforts to fortify access controls and safeguard its customers from the growing menace of cybercrime. 

As of today (Feb 1), default limits have been enforced for transactions conducted through the personal banking platform, affecting various types of transfers.

Third-party transfers to NCB account holders, wire transfers, and transfers to other banks will now be subjected to a daily limit of $150,000, significantly reduced from the previous cap of $500,000.

Moreover, the monthly limit for these transactions has been adjusted to $500,000, a reduction from the earlier limits of $1 million for NCB third-party transfers and transfers to other banks, and $1.5 million for wire transfers.

However, it’s worth noting that the daily limit for bill payments and transfers between personal accounts remains unchanged at $2 million per day.

In light of these modifications, NCB emphasises that customers have the option to request an adjustment to their transaction limits, allowing for flexibility based on individual needs.

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