In 2019 Egypt was reported to be the fifth-highest in terms of international money transfers received worldwide, following India, China, Mexico and the Philippines, the four biggest remittance-receiving nations in the world. Due to the country’s status as one of the most popular destinations for cross-border remittances, it has never been easier to send GBP to EGP money transfers.
The official legal tender used across Egypt is the Egyptian Pound and the symbol used to distinguish the currency is E£. As a multicultural nation, EGP banknotes feature English and Hindu-Arabic numbers on one side and Arabic text with Eastern Arabic numbers on the other.
When considering how to send money Egypt from United Kingdom there are some key aspects of the transfer to consider.
The cheapest provider we found is Wise at % Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using WorldRemit when transferring GBP to EGP.
This means that by using WorldRemit for online money transfers to Egypt from United Kingdom, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access WorldRemit for any reason, our comparison engine has found Wise and Barclays also to be very good options when sending GBP – EGP.
This recommendation was updated one minute ago.
In order to avoid high fees, you should consider the cheapest way to send from United Kingdom to Egypt.
Wise has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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When sending money from United Kingdom to Egypt, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, WorldRemit is the fastest way to send GBP – EGP.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to Egypt.
With WorldRemit you can send money online to Egypt using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Egypt as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use WorldRemit to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Egypt. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Egypt.
When sending money to Egypt from United Kingdom using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as WorldRemit, Wise and Barclays.
Before sending money to Egypt from United Kingdom, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send GBP to EGP.
After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Egypt. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Egypt, then they will usually need the following:
The amount of EGP you can receive from United Kingdom will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
As well as limits set by the money transfer provider you opt for, regulations are also set by the Central Bank of Egypt impose limits on international currency transfers. This means anyone sending or receiving money to or from Egypt cannot exceed an annual limit of $100,000 on individual transfers.
In addition to this, Egypt employs specific regulations for funds transferred to mobile airtime top up and e-wallets. These regulations include a maximum daily transfer limit of EGP 6,000 and a maximum monthly transfer of EGP 50,000.
April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.