Make Payments in EGP - Egyptian Pound
Pay in Egyptian Pounds (EGP)
Mondial Change allows you to make international payments in EGP (Egyptian Pound) with ease. Manage your Egyptian Pound beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your EGP operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Egyptian Pound (EGP)
It is currently not possible to receive payments in EGP.
Do you want to hedge your exchange rate risk on the Egyptian Pound (EGP)? Check our dedicated page on EGP exchange rate hedging.
Mondial Change Answers All Your Questions About Payments in Egyptian Pounds (EGP)
What is the timeframe for an EGP payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for an Egyptian Pound transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if EGP payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can have a significant impact on payment receipt times.
What are the fees for a payment in Egyptian Pound (EGP)?
The fees applied to transfers in Egyptian Pound (EGP) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual EGP exchange volume and the number of Egyptian Pound payments made during the year.
Are there minimum or maximum amounts for payments in Egyptian Pound (EGP)?
Mondial Change and its partners verify that your Egyptian Pound flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Egyptian Pound (EGP)?
For EGP payments via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Full address of the beneficiary
• IBAN (or local account number depending on the bank)
• SWIFT code of the beneficiary's bank
• Reason for payment
Is it possible to modify a payment in Egyptian Pound (EGP) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Egyptian Pound (EGP) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Egyptian Pound (EGP) cannot be executed?
January 7: Coptic Christmas
January 25: 2011 Revolution Day (Police Day / Revolution Day)
Variable date: Sham El-Nessim (Spring Festival – day after Coptic Easter)
Variable date: Eid al-Fitr (end of Ramadan)
April 25: Sinai Liberation Day
May 1: Labor Day
Variable date: Eid al-Adha (Feast of Sacrifice)
June 30: June 30 Revolution Day
July 23: 1952 Revolution Day
Variable date: Islamic New Year (Hijri New Year)
Variable date: Mawlid (Birth of Prophet Mohammed)
October 6: Armed Forces Day (1973 Victory)
History of the Egyptian Pound
The Egyptian Pound (EGP) has been the official currency of Egypt since 1834, when it replaced the Ottoman piastre. It is subdivided into 100 piastres. Throughout its history, the EGP has experienced various exchange regimes, having been linked to the British pound, then to the US dollar, before becoming a floating currency. It plays an essential role in the country's domestic trade and financial transactions.
Monetary Policy of the Egyptian Pound
The Central Bank of Egypt is responsible for conducting monetary policy. Its main mission is to ensure price stability while supporting economic growth. Since 2016, Egypt has applied a controlled floating regime, allowing the central bank to regulate the exchange rate through instruments such as the key interest rate, mandatory reserves, and interventions in the foreign exchange market. In the face of inflationary challenges, particularly related to import dependency, the Central Bank regularly intervenes to preserve macroeconomic stability.
Characteristics of the Egyptian Pound
The Egyptian Pound (EGP) operates under a controlled floating regime, with close monitoring by the Central Bank. It is widely used for cash payments, in a context where banking inclusion remains limited. Egyptian Pound banknotes feature historical and cultural motifs and incorporate security features such as watermarks, special inks, and holographic strips. Due to the partial dollarization of the economy, the EGP coexists with the US dollar (USD) in many sectors, both formal and informal.