Conditions of work for the CIB purchases visa and the most important features provided by the bank

Business conditions for Visa and CIB purchases are the conditions set by Visa, the Commercial International Bank, and whether it is Visa or Master Card, announced its credit card offers and offers easy installment services with conditions and documents for government and private sector employees, while offering interest to the customer’s capabilities as well as in stores Provides the ability to upload and pay with Visa. We will explain the increase in working conditions for purchases in Egypt, Al-Kharj and the Commercial International Bank in Egyptian pounds and other Arab and foreign currencies on its website and talk about its advantages and disadvantages

Business conditions for CIB purchases

There are documents required to obtain the visa from the client, and these documents are:

  • The customer must provide the utility bill and it must be new, i.e. the last issue must be no more than three months old and it is also assumed that it relates to the current residence.
  • The customer must present his personal photo, which should have been taken recently.
  • The customer must provide a copy of his national identity card.
  • Self-employed persons must provide their business history or tax card.
  • After examining the necessary documents, it is determined by choosing the credit limit for the responsible and specialized employee and the credit card. This is determined on the basis of the account statement or guarantee of the investment certificate with the bank, or on the basis of the monthly salary that the customer receives.

Also read: CIB Bank branches in Alexandria (a directory of 21 branches)

Advantages of buying CIB

There are advantages to making purchases that the customer enjoys, and we will explain the advantages in the following points:

  1. Online payment, installment and purchase services that help customers and facilitate their dealings with the World Bank.
  2. There is an interest free grace period of up to 55 days.
  3. The customer enjoys the advantage of easy withdrawal immediately from the Visa provided by the World Bank, up to 100% of the credit limit.
  4. CIB offers the client many options to help pay the visa fee.
  5. CIB sends a free message to the customer after every online or mobile balance withdrawal, which makes the customer feel safe in case he makes another withdrawal from his visa.
  6. The Commercial International Bank covers the borrower’s balance up to 500,000 EGP.
  7. Services provided by the Commercial International Bank to the customer through the travel services bank office.
  8. Discounts offered by CIB to the customer with the Smart Shopper program available in many different regions in more than 200 stores.
  9. The Commercial International Bank provides the customer with a monthly account statement free of charge, and the customer determines this via the visa.
  10. CIB provides Online Secure service for online payments.
  11. CIB sends a free SMS to remind the customer of the visa payment date.
  12. CIB allows the customer to use the visa abroad.
  13. The visa has the ability to keep the customer’s balance and buy anything.
  14. In cooperation with the Commercial International Bank and the frequent flyer program EGYPTAIR Plus, MasterCard offers a co-branded credit card that provides the customer with unique benefits for travel and banking services.
  15. It should be noted the advantages of the “Heya” card, which is intended for girls and women, as it offers many discounts and rebates with increased use, in addition to the benefits of the Internet card known as E-com credit, which is designed for young people and helps them shop and buy things online. There is, too. They want to pay easily from the card, and this payment method provides a low credit limit and the card receives many discounts and discounts on the prices of market products and some other online stores.

Also read: CIB Bank jobs and workplaces, their benefits, and additional skills for job acceptance

transactions after the activation process

The customer benefits from the following transactions without the need to go to the bank, and these transactions enable him to do the following:

  • Pay water, electricity and telephone bills through ATMs and voice phone service.
  • Transfer balance from their own accounts to accounts inside or outside the bank using the online banking services and mobile application.
  • Immediate blocking of lost or stolen cards through online banking and voice phone services.
  • Depositing checks into a “debit card only” account at some ATMs.
  • Donate to any charity via internet banking, voice phone service, and ATMs.
  • You can register for the online banking service through the CIB website. over here.
  • He can register for the bank’s phone service by calling 19666.

Disadvantages of Visa and other credit cards

We have mentioned the advantages of Visa and other credit cards before, but there are advantages in addition to their disadvantages, and we will review them for you in the following points:

  • The interest attributed to the card or the visa user depends on his transaction, if the card or visa holder does not agree with his financial balance, it will lead to the accumulation of debts and in case of delay in payment he will be fined.
  • If the owner of the card or visa takes a loan from him, then this will lead to an increase in interest rates at the time of repayment of the loans.
  • If the card or visa is lost or stolen from its owner, the owner must pay the cost of the shopping that accompanied the card.
  • In the event of negligence in paying the purchases made for the visa or card, there are many disputes and problems between the visa holder and the bank responsible for issuing it to the holder.

Also read: Conditions and benefits for obtaining personal financing of 40,000 from the National Bank of Egypt, Commercial International Bank, HSBC Bank, Bank of Alexandria and Arab African Bank

Learn more about the Commercial International Bank

Before applying for a visa, we need to know the history of CIB and we will show you its history in the following lines:

  • It was jointly owned by the National Bank of Egypt and Chase Manhattan Bank and was established in 1975 AD, and after Chase Bank’s decision to sell its shares, the National Bank increased its stake until it reached 99% and the name of the bank was changed to become Commercial International Bank.
  • After that, the share of the National Bank decreased and continued to decline over time until it reached 18%. In 2006, a consortium led by Ripplewood Holding bought the shares of the National Bank of Egypt, then Actis bought some shares of the Commercial International Bank, and with this stake the largest shareholder got it. In March 2014, Actis sold part of its stake in the bank through the Egyptian Stock Exchange, which was acquired by a group of portfolio managers and international investment funds, and in the same year Actis sold the rest of its stake in the bank’s capital to Fairfax Financial Services, and in 2015 the bank took control and bought it. . He bought Citibank shares through the Egyptian Stock Exchange and managed to include all branches in his management.
  • It is considered the best performing bank in Egypt, and the bank has succeeded in maintaining its leading position in the Egyptian market as it achieved the highest profitability rates among public banks in the past years, with revenues exceeding EGP 14 billion in 2017 and net profit exceeding EGP 7 billion. Egyptian pounds in the same period.

In our discussion of the working conditions for CIB purchases, we included an explanation of these conditions, the benefits of a visa, the processes that follow the process of activating these credit cards, and others, and we also talked about their shortcomings, and we talked about CIB’s history, progress, and developments, and we hope it helped you.


Source: موجز مصر by www.mogazmasr.com.

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