Azerbaijani banks do not apply a single ceiling to every customer and every type of card transaction, Azerbaijan Banks Association President Zakir Nuriyev said in Mushfigabad on November 4.
Local media reported that, according to Nuriyev, banks consider a customer’s documented needs and must be able to check what transactions are for. General payment security and compliance requirements still apply.
His remarks do not remove restrictions at individual banks. Nuriyev described how limits are applied rather than announcing a new monetary threshold or a change in terms for all cardholders.