BEA Introduces New Prepaid Card for Tourist Allowance

The Banque Extérieure d’Algérie (BEA) has introduced a new Premium (Platinum) prepaid card, specifically designed to modernize and simplify international financial transactions for Algerian citizens traveling abroad. This initiative aims to manage increased demand effectively and meet the evolving needs of customers, particularly following recent reforms to foreign exchange regulations. The new card allows the lodging of the tourist allowance, providing a streamlined process for international payments and withdrawals.

Bearing the attributes of a high-end card while functioning on a prepaid basis, the new BEA offering ensures that cardholders can only spend the amount pre-loaded onto the card, thereby mitigating any risk of overdrafts while traveling internationally. The card supports a range of uses vital for travelers, including proximity payments at merchants, remote transactions for services such as hotel or ticket reservations, and cash withdrawals from ATMs. Cardholders can expect to receive their new Premium card within seven to ten days of application.

This product aligns with the Bank of Algeria’s instruction n° 07, which establishes guidelines for such financial instruments, emphasizing that the card is nominative and exclusively for use by its named holder. The prepaid card can be loaded with the travel allowance, with a maximum of 750 euros for travelers aged 19 and above, and 300 euros for minors between 12 and 19 years old, limited to two children per household. Funds must be loaded in 50-euro increments, and the balance becomes active one week prior to departure, enhancing the convenience and security of financial management for Algerian travelers.