# Money management



## navery (Oct 15, 2011)

We will be temporarily living in Cairo in 2012. Are ABM machines common? Is this the simplest way to obtain cash on a short term basis? Is getting a bank account difficult? We have a universal bank card and have used it in overseas travel in Europe - but nowhere else at this time.

Thanks for any advice


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## Helen Ellis (Aug 9, 2008)

navery said:


> We will be temporarily living in Cairo in 2012. Are ABM machines common? Is this the simplest way to obtain cash on a short term basis? Is getting a bank account difficult? We have a universal bank card and have used it in overseas travel in Europe - but nowhere else at this time.
> 
> Thanks for any advice


Cash machines are common here but check how much you will be charged and at what exchange rate. The machine may limit your withdrawal amount, I can only withdraw 3,500le per transaction. I have a friend who regularly use a uk credit card for shopping, she says there are no extra charges.


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## Whitedesert (Oct 9, 2011)

Generally speaking the ATM's are o/k to use, and have become a lot better, and many more have been added in the last couple years, but getting a local bank account is possible and recommended. Quite often the software that allows you to draw from any CIRRUS/VISA ETC ATM is not on-line at the most inconvenient times, and then you can only draw cash from the bank you are with, based on pre-agreed limits (normally based on what kind of account you have). Most local banks services are terrible compared to what you are used to, but at the same time choose an international bank, like HSBC/PNB Paribas etc, because that automatically broadens you choices and ups the percentage of times things dont go wrong! Just remember, when you have a problem and call the banks call centre and the voice ask you to press 1 for English, the "English" person on the other side seldom understands you, or solve your problem.


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## hhaddad (Apr 14, 2010)

Whitedesert said:


> Generally speaking the ATM's are o/k to use, and have become a lot better, and many more have been added in the last couple years, but getting a local bank account is possible and recommended. Quite often the software that allows you to draw from any CIRRUS/VISA ETC ATM is not on-line at the most inconvenient times, and then you can only draw cash from the bank you are with, based on pre-agreed limits (normally based on what kind of account you have). Most local banks services are terrible compared to what you are used to, but at the same time choose an international bank, like HSBC/PNB Paribas etc, because that automatically broadens you choices and ups the percentage of times things dont go wrong! Just remember, when you have a problem and call the banks call centre and the voice ask you to press 1 for English, the "English" person on the other side seldom understands you, or solve your problem.


To say to open a bank account is possible is not certain because I tried when I had only a 6 month tourist visa and was refused three times by diferant banks.Also online banks are a bit limited and BNP are heading for problems and NSGB also are in the same bag,As for VISA cards are the best bet as for exchange rates they are always at the days rate which is less than the rate given in the Currency Exchange shops and the fee levied for the exchange is dominated by your bank in Canada. I always use HSBC atms as by experience I have found them to be the most reliable.


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## Whitedesert (Oct 9, 2011)

hhaddad said:


> To say to open a bank account is possible is not certain because I tried when I had only a 6 month tourist visa and was refused three times by diferant banks.Also online banks are a bit limited and BNP are heading for problems and NSGB also are in the same bag,As for VISA cards are the best bet as for exchange rates they are always at the days rate which is less than the rate given in the Currency Exchange shops and the fee levied for the exchange is dominated by your bank in Canada. I always use HSBC atms as by experience I have found them to be the most reliable.


Understood. Sorry, I came from a having work permit and residence visa departure point. Should have said so. I agree about HSBC as well. Having some serious problems with HSBC recently, they are not as good as they were 1 year ago, strangely enough? I am not sure why, they have grown well in the local marketplace. British banking systems still better than French ones. The Egyptian ones are dicey (private held ones), the government ones, well, no need to say anything about them, right?


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## hhaddad (Apr 14, 2010)

I agree the British banking system is better but unfortunately that doesn't go for Barclays Egypt that are in my point of view worse than Egyptian government banks. The problem of HSBC is financial and serious cutbacks are on the way.


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