Apply For Opening a New ian Bank Account in Egypt
- To create an account at a New Bank Account you will require
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- A current bill receipt that is less than 3 months old. This includes bills from Water co-operation, PHCN or LA.
- I.D Card
- Minimum 1000. That’s it!
- Step1
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- Get on the sidewalk and inquire into any Bank and inform them that you’d like to open an account. You will be provided with the form to fill in.
- Make sure you fill out the form in a precise manner without mistakes. Give your current address , as it appears on the bill , as any error on the address can prevent the opening of your account.
- If you’re confused by anything, ask questions and they will help you even if you are unable to write correctly. They will take care of it for you, as you provide your information right.
- Step2
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- Fill out the form, and you’re done! that’s it. You must wait for up to a week to get them to verify your address and account is now open.
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Note
- If you suspect that your residence address isn’t readily accessible, or you have many adversaries in your neighborhood, they will make sure you have your work address as well as their bill receipt, as they won’t be able to allow you to open a bank account until the address is confirmed. The reason for this is to ensure that your bank should be able to contact you in the event of a problem and can also verify particular things. If you’re a foreigner and are looking to open an account, you just need to visit their website, this is all.
- Beware of visits to the bank on vacation days. You’ll see the waiting room crowded with those hoping to withdraw funds before the bank shuts down to celebrate the holidays.
- The normal hours of operation of Egyptian banks are from 9 AM until 2:00 pm, however there are some branches that are focused on the retail sector (such like individual savings accounts and current accounts) which are open until 5:00 pm.
- It is possible to find both current and savings accounts are offered by Egyptian banks. The major credit card companies, such as MasterCard and Visa are also present in Egypt.
- Telephone and online banking are becoming increasingly popular and the usage of debit, credit or cash-cards is common across Egypt. But cash remains the most popular method of payment for all transactions.
Required Documents For Opening a New ian Bank Account
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- A duly signed account Opening form.
- Two specimen signature card
- Two passport Photos
- Identification card i.e identification card, national ID or voters Card as well as a passport.
- Utility bill for residents.
- A mandatory initial deposit of LE 10,000,
- Risk assessment form
- Additional KYC (Know the identity of your customer)
- Resident permit for foreign nationals.
Office Locations and Contacts
- Ministry of Finance
“Mr. Hany Kadryimg
Nasr City Address Nasr City
Phone number. 23428886 – 23428010 – 23428830
Fax 26861680 – – 2686181
E-mail: finance@mof.gov.eg
Website:http://www.mof.gov.eg
What are all the Eligibility
You must be aged 18 or older, however at times the rules may differ from one bank to the next and even between branches.
Fees
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- an amount of LE10,000 as a deposit for an account for saving
- A deposit of LE 50.000 for an account with a current balance.
Validity
The offer is valid for a longer duration of time as long you make your minimum deposit on the account.
Processing Time
The process can take 30 days to complete.
Instructions
The only method of being 100% certain of the location you will need to create your account is to walk the road and ask questions in person. If you know any expats with bank accounts, seek their advice on branches that are open to foreigners.
Requirements Information
- 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 who your customer is)
- Residence permit for foreign nationals
Documentation is needed
- A brand new Egyptian Bank account is easy provided you’re an Egyptian and have an original Egyptian document.If it is a foreigner , you’ll require an identity card that is a resident permi
- Despite the many banks with branches in the cities, a lot of poor Egyptians won’t be able to open a bank account during their lives.
- There are times when people head into banks to open new accounts however the vast majority have the issue of verification of address at the request of the banks. They may provide adequate information but they do that.
- If you’re a foreigner is difficult to open accounts with banks in Egypt although it’s definitely possible. banks require an address that is valid for at minimum six months prior to opening an account. They also require an minimum deposit of a few thousands of Egyptian pounds.
External Links
https://www.justlanded.com/english/Egypt/Egypt-Guide/Money/Banking
http://www.expatforum.com/banking/banking-in-egypt.html