How to Apply For Opening a New Bank Account in Egypt

Apply For Opening a New Bank Account in Egypt By Yourself

  • To open a bank account, the client has to approach the bank where they would like to open a bank account with at the Ministry of Finance: Link to Ministry of Finance: Link
  • How to Apply For Opening a New Bank Account in Egypt
    How to Apply For Opening a New Bank Account in Egypt
  • The applicant will be provided with an application form to fill in. Complete an application.
  • Check out this procedure’s “Required Details” part of the process to find out more.
  • The applicant is also required to submit the required documents for the procedure in addition to the necessary fee to complete the procedure.
  • Check out in the “Required documents” part of the guideline to find out more.
  • When the application is approved and approved, the bank account of the applicant will be open within the specified time. The applicant has to visit the office previously mentioned to obtain the license after they are an official notification about the same.

Required Documents For Opening a New Bank Account

  • resident permit
  • Passport-sized photo of your identity
  • Passport (original and a duplicate) with your visa
  • invoice receipt
  • the minimum amount of deposit (as determined by the selected bank)
  • ID document (driver’s License/ voter’s I.D card)
  • The form must be filled in and signed by the applicant. document (on on the spot).

Office Locations and Contacts

Ministry of Finance Arab Republic of Egypt
Ministry of Finance Towers,
Nasr City.
Extension of Ramsis Street,
Abbassiya, Cairo
Phone: 02/23428830
Fax: 02/23428830
Contact Link: Link

What are all the Eligibility

  • A candidate must have aged 18 or older.

Fees

  • An initial deposit of LE10,000 is required for Savings Account

A minimum deposit of LE 50000 for an account with a current balance.

Processing Time

It takes one month.

Instructions

  • For opening an account at a bank, the majority of Egyptian bank will ask the resident’s permit that has at least six months of validity. In addition, the minimum amount of amount you can deposit is usually different from one bank to the next.
  • It could go as high as to several thousand Egyptian pounds. Be sure to check at the bank of your choice prior to going ahead.
  • Be aware that every banks has their own rules concerning the opening of accounts at banks for foreign citizens.
  • Bank advisors will be able to provide more details about these on request.

The Information You Need

  • Name of the applicant
  • Age, Sex and marital status
  • Nationality
  • Background in education
  • Utility bill for residents.
  • A mandatory initial deposit of LE.1,000,
  • Risk assessment form
  • Additional KYC (Know the identity of your customer)
  • Residence permit for foreign nationals

Documentation is needed

  • Egyptian banks provide two primary kinds of bank accounts that include the savings account as well as an account for current transactions. They’re the same accounts that are available anywhere around the globe. However, in certain instances the savings account may be used to refer to a current account.
  • In addition to national and local banks, you can also find some international banks, such as HSBC as well as The Emirates NBD, BNP Paribas and others in Egypt.

Source

Link

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