# Banking in Egypt



## TheEscapeArtist (Sep 26, 2012)

Hi again

Thanks to everyone who has already posted advice to us regarding possibly moving to Egypt. We are visiting for a recce next week and aiming to meet with some banks to discuss accounts and finances.

Can you give us an idea of interest rates on savings accounts and exchequer accounts? What are the taxes likely to be on these? Will this be on the full amount including interest, or just one or the other? What are the conditions of these accounts, e.g. do we need full residency or will an initial shorter visa suffice? Primarily, are there any banks to avoid/banks which are more reliable and customer friendly?

As I said, we are planning to meet with them and hoping to get clear answers by the end of the trip but if we can have a bit of a heads up before going, that would be grand


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## AlexDhabi (Aug 23, 2012)

I recently opened an account with National Bank of Abu Dhabi in Egypt. NBAD branches are conveniently located for my requirements (in Alexandria) and not as busy as Barclays or others which I also considered. They have internet banking too. I was able to open my account while resident in Abu Dhabi so just the usual ID information is needed. Savings rates with NBAD Egypt are fairly typical for Egypt (up to 6.75%).
National Bank of Abu Dhabi - Egypt Region


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## hurghadapat (Mar 26, 2010)

TheEscapeArtist said:


> Hi again
> 
> Thanks to everyone who has already posted advice to us regarding possibly moving to Egypt. We are visiting for a recce next week and aiming to meet with some banks to discuss accounts and finances.
> 
> ...


I banked with CIB and they also have internet banking never had any problems with them....and was able to open my account with an extended tourist visa.


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## MaidenScotland (Jun 6, 2009)

TheEscapeArtist said:


> Hi again
> 
> Thanks to everyone who has already posted advice to us regarding possibly moving to Egypt. We are visiting for a recce next week and aiming to meet with some banks to discuss accounts and finances.
> 
> ...




Hi 

Not sure what day you are coming but we have the Eid next week...


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## aykalam (Apr 12, 2010)

Egypt's publicly-owned banks and stock exchange are to close for four days at the end of October to mark the Eid Al-Adha holiday, the country's central bank said on Thursday.

Financial institutions will remain closed on Thursday, 25 October, and reopen the following Monday, 29 October, according to a statement from the bank.

And of course when they reopen on Monday you better take the day off if you need to do any transactions in branch


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## TheEscapeArtist (Sep 26, 2012)

Thanks aykalam for clarifying - we're not actually planning to meet up with banks until the first full week in November but we want to make contacts now to get started. 

Thanks for the bank recs as well, hurghadapat and Alex, I've contacted them both.


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