Algerian Radio
The Governor of the Bank of Algeria, Mr. Mohammed Lamine Lebbou, instructed bank officials during a meeting held Monday at the Central Bank's headquarters to take the necessary measures to facilitate the issuance of international payment cards to citizens wishing to benefit from the foreign exchange allowance for travel abroad, the Bank said in a statement.
This meeting falls within the framework of implementing the new provisions regarding the temporary granting of the exchange allowance via international payment cards, which entered into force under Instruction No. 07-2026 issued last week by the Bank of Algeria.
Under this instruction, the exchange allowance is granted to resident citizens via an international or dedicated payment card issued by authorized intermediary banks. The allowance is set at 750 euros (or its equivalent in another freely convertible currency) for individuals aged 19 and over, and 300 euros for individuals aged between 12 and 19, up to a limit of two children per family, once per calendar year.
The new provisions also state that the card is issued strictly in the name of its holder. It is non-transferable and cannot be used by a third party. It must be linked to a foreign currency account opened in the name of the beneficiary, who must also hold a bank account in the national currency.
Applicants seeking the exchange allowance via a payment card must submit a request for the card to an authorized intermediary bank sufficiently in advance of their travel abroad. The validity period of the issued card is set at a minimum of three years.
Furthermore, when granting the travel exchange allowance via an international or dedicated payment card, banks are required to record the allocated amount, the corresponding currency, and the transaction date in the beneficiary's passport, in addition to registering it on the Bank of Algeria's dedicated exchange allowance platform.
They must also set up dedicated support services for cardholders, including call centers and digital interaction channels accessible from abroad, available 24/7.
The exchange allowance granted for travel abroad, loaded onto an international or dedicated payment card, can only be used for transactions carried out abroad related to the purpose for which it was allocated.
