# Banking in Egypt



## lifeof (Feb 21, 2010)

I may be moving to Egypt and had two questions regarding personal banking. 

1. Are there any restrictions imposed by the banks in Egypt on sending money to your home country? I recently had similar problems in Morocco.

2. Are banks such as HSBC or Barclays similar to deal with as in other Expat locations?

appreciate any advice
thanks


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## MaidenScotland (Jun 6, 2009)

Hi and welcome to the forum.

I do not have any dealings with banks so can't give you facts however the problem you had in Morocco may be because of the tightening up of moving money due to terrorism.
Speak to your bank in Germany and ask them.
Maiden


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## lifeof (Feb 21, 2010)

MaidenScotland said:


> Hi and welcome to the forum.
> 
> I do not have any dealings with banks so can't give you facts however the problem you had in Morocco may be because of the tightening up of moving money due to terrorism.
> Speak to your bank in Germany and ask them.
> Maiden


Thanks. The issue in Morocco was due to government regulations limiting the transfer of too many funds at one time as the Moroccan Dirham is a weak currency. This was limited to expats only. There's no problem with my bank accepting cash just need to find out if Egypt has similar controls on currency that Morocco has.


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## MensEtManus (Jul 30, 2009)

If you are looking for a bank with no questions asked type of philosophy then you might as well try AIB ( Arab International Bank). They are exempt from all laws and rules regulating banks (including being immune from nationalization and law enforcement officials). The only issue with great privacy comes some hefty fees/expenses. 

Otherwise, moving money from multinational banks should not be a problem. I am familiar with HSBC and Citibank. Both offer no issues. They whole idea is when sending cash between accounts, you get far less harassment if the account names are relatively similar.

However, I am not sure about German laws, in the USA, banks report any amounts larger than $10,000 to the IRS. So also do keep that in mind.


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