Send money to Egypt
See today's live rates — and exactly what your recipient receives, after every fee.
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Today's best rates to Egypt
As of 24 August 2026, sending £1,000 to Egypt, your recipient gets the most with TransferGo: 69,020.02 EGP, the best of 5 providers compared.
| Provider | Rate | Fee | Recipient gets | Speed | |
|---|---|---|---|---|---|
TransferGo | 69.020 0.68% worse | £0 | 69,020.02 EGP | 1–2 days | Send |
68.902 0.85% worse | £0 | 68,901.91 EGP | Within 2 days | Send | |
69.382 0.15% worse | £14.42 | 68,381.81 EGP | Within 2 days | Send | |
66.398 4.45% worse | £0 | 66,397.60 EGP | 1–2 days | Send | |
64.320 7.44% worse | £4.99 | 63,999.09 EGP | Minutes to days | Send |
When you send money home to Egypt, the cheapest route is almost always a specialist money-transfer app or company rather than your bank. The cost that matters most is hidden in the exchange rate: a bank typically keeps 2% to 5% in the rate, on top of any fee — so always judge a provider by the amount that actually arrives, not by a "no fee" claim. And Egypt uses the IBAN, so paying into a Egyptian account is straightforward.
Money sent home by Egyptians abroad is now the country's single biggest source of foreign currency — well ahead of tourism, and well ahead of the Suez Canal, whose takings have slumped while Red Sea shipping is disrupted.
Inflows jumped roughly 40% in 2025 to record levels as families moved money back through banks and licensed firms after the pound was floated.
So these transfers are a lifeline for households and the wider economy alike — which is exactly why squeezing the most pounds out of every send genuinely matters.
How the money reaches Egypt
What account details you need
Egypt DOES use an IBAN. Every Egyptian bank account has one: a 29-character number that begins with the country code EG, standardised and mandated by the Central Bank of Egypt for all transfers in and out of the country.
Give your recipient's full 29-character EG IBAN and you have what you need.
How the money is delivered
Once your pounds are converted, the money is delivered locally inside Egypt. You don't choose the network — the provider does — but here is what is used.
Ways your recipient can receive it
Most providers can pay into a bank account, wallet (Instapay, Vodafone Cash) or cash pickup. The right choice is usually whichever is cheapest and fastest for your recipient. Cash pickup is the fallback where a bank account or wallet isn't available.
What you actually pay to send money to Egypt
The price of a transfer is not really the upfront fee — it is mostly hidden in the exchange rate. None of it is obvious, so each is worth knowing before you send.
The exchange-rate mark-up
The big one. Banks and some apps quote a rate a little worse than the real mid-market rate and keep the difference — often 2% to 5%. Because it is a slice of the whole amount, it usually dwarfs any upfront fee.
Correspondent-bank fees
An ordinary bank wire can pass through one or two intermediary banks, each able to take a small cut before the money arrives. Specialists using local payment networks usually avoid this entirely.
"No fee" hiding a poor rate
A headline "zero fee" means little if the rate is weak. Judge an offer by the money that actually arrives, not by whether a fee is shown — the comparison above ranks providers exactly that way.
Devaluations mean the channel and the timing shape what arrives
The Egyptian pound has been devalued again and again, most sharply when it was floated in March 2024. For years an official bank rate sat well below the rate on the parallel (black) market, and that gap is where a lot of value used to leak away.
The 2024 float largely closed that gap by letting the rate move freely — but it also means the market now swings more day to day. So which regulated channel you use, and when you send, both feed directly into the pounds your family actually receives. Compare on the pounds delivered.
Egypt uses an IBAN — and after the 2024 float, the rate is where the cost sits
Egypt uses an IBAN — and after the 2024 float, the rate is where the cost sits
Two things are worth understanding before you send. First, Egypt does use an IBAN: a 29-character number starting with EG, mandated by the Central Bank of Egypt, so a form that asks for an IBAN is correct for Egypt — give the full 29 characters.
Second, after the Egyptian pound was floated and sharply devalued in March 2024, the rate is market-driven and moves a lot. That means the real cost of a transfer now sits almost entirely in the exchange-rate spread a provider adds — often 2% to 5% with a bank — not in the visible fee.
Always compare on the pounds actually delivered, not the headline rate.
How to avoid fraud when sending money to Egypt
On any large transfer the biggest risk is rarely the exchange rate — it is criminals getting between you and the money. These simple rules are worth knowing before you send.
Fake transfer-confirmation scam
Rule: do not act on a 'money received' text or screenshot alone. Confirm the funds have actually cleared in your own bank app or InstaPay before releasing goods or sending anything back — forged confirmations are the most common trick.
OTP / PIN scam
Rule: never share an InstaPay PIN, card PIN or a one-time passcode to RECEIVE money. No legitimate transfer ever needs your PIN or OTP to pay you in — those codes only authorise money leaving your account.
"Wrong transfer, please refund" scam
Rule: if you must return money, make a fresh transfer yourself to an IBAN you trust — never use a reversal link, refund button or payment request the other person sends you.
Advance-fee / "release fee" scam
Rule: no bank or operator charges a fee to 'release' an incoming remittance. The payout is automatic. Anyone demanding an upfront fee to free your money is a fraudster.
If you are a victim of fraud, if you send from the UK and think you've been scammed, report it to Action Fraud on 0300 123 2040 or actionfraud.police.uk; in Egypt, the recipient can raise a complaint through their bank and the Central Bank of Egypt (CBE) consumer-protection channels.
Is money sent to Egypt taxed?
What the rules say
inward remittances are not taxed for the recipient; this is general information, not tax advice
Keep your paperwork
On a large transfer the UK firm must run a source-of-funds check — that is a compliance step, not a tax. Keep evidence of where the money came from (a sale statement, pension or investment paperwork, or bank statements) and a big transfer moves through far more smoothly.
When is the best time to send money to Egypt?
For a one-off transfer the rate on the day is what counts — and it moves constantly. The aim is less about guessing the perfect moment and more about removing risk on payments you already know are coming. As a guide, once the money is sent often minutes — many providers now pay straight to the recipient's account over the Instant Payment Network (InstaPay), which runs 24/7.
Demand climbs around Ramadan and the two Eids — Eid al-Fitr and Eid al-Adha — when families spend more and operators can quietly widen their margins into the rush, so line a big send up a week or two early.
But Egypt runs on a second clock: since the pound was floated in March 2024 the rate moves freely and can drift over weeks, so the trend can matter as much as the holiday calendar. Watch the live rate, not just the date.
Lock the rate for a known date. If a payment is weeks away, many specialists let you fix today's rate now (a forward contract), so a sudden market move can't blow a hole in your budget before the money is due.
Set a target with a rate alert. For flexible transfers, you can set the rate you want and be notified (or trade automatically) when the market reaches it — useful when you have time on your side and no fixed deadline.
The costliest mistakes when sending to Egypt
A handful of avoidable slips account for most of the money people lose. Each is easy to sidestep once you know to look.
Defaulting to your bank without comparing. The bank's rate mark-up usually costs far more than any fee, and it is easy to miss because it is built into the rate rather than shown separately.
Judging by the fee, not the amount delivered. A "no fee" offer can still be the worst deal if the rate is poor. Always compare on what actually arrives.
Mistyping the account number (IBAN). If the account details are wrong the transfer can bounce back after a delay, or reach the wrong account. Always check them against details your recipient sent in writing.
Trusting bank details that arrived by email. Payment-diversion fraud is a real risk — always confirm the receiving account by phone on a trusted number first.
Using an unregulated or cold-calling firm. Check the company on the FCA Register before you move any money, and never act on an out-of-the-blue offer.
Chasing a black-market rate instead of a regulated channel. After years of a parallel-market premium, it is tempting to hand cash to an informal dealer promising a better rate. Since the 2024 float the official and street rates have largely converged, so that edge has mostly gone — and an unlicensed dealer leaves you with no trace, no refund and no protection if it goes wrong. Use a regulated provider that pays into your recipient's bank account or InstaPay wallet, and judge it on the pounds delivered.
Expecting US dollars when the payout lands in pounds. You send in sterling, but unless your recipient holds a foreign-currency account the money is converted and paid out in Egyptian pounds — to a bank account, an InstaPay or Vodafone Cash wallet, or as cash. Plan around pounds, not dollars. And copy the recipient's 29-character EG IBAN exactly: one mistyped character can fail the transfer or send it to the wrong account, which is slow and painful to claw back.
How do most people send money to Egypt?
For most people sending money home, the simplest and cheapest route is a specialist money-transfer app or company paying straight into the recipient's bank account. Judge every provider by the amount that actually arrives — and confirm the receiving details before you send.
Frequently asked questions about sending money to Egypt
Yes. Unlike many remittance destinations, Egypt does use an IBAN.
Every Egyptian bank account has one — a 29-character number that starts with the country code EG, mandated by the Central Bank of Egypt. Give your recipient's full EG IBAN and you have what the transfer needs.
For the international leg, the receiving bank's SWIFT/BIC code may be used behind the scenes.
Often minutes. Egypt's Instant Payment Network (InstaPay) settles transfers 24/7, and since late 2024 banks can credit incoming remittances to a customer's account instantly over it.
The slower part is normally the checks on the sending side before the money leaves the UK.
Almost always a specialist money-transfer company rather than your bank. Compare providers by the amount that actually arrives in Egyptian pounds, counting both the exchange rate and any fee.
Since the pound was floated in 2024 the rate is market-driven, so the provider's spread is where most of the cost sits — see the live comparison above.
Often yes. Money can land in a recipient's bank account, in a mobile wallet such as InstaPay or Vodafone Cash, or be collected as cash pickup.
Wallets receiving over the Instant Payment Network typically clear in minutes, day or night.
It already has. The Egyptian pound was floated and sharply devalued in March 2024, so each pound sterling now buys far more Egyptian pounds than before — but the rate also swings more day to day.
Because the cost now sits in the exchange-rate spread, compare providers on the Egyptian pounds actually delivered, and check the live rate above before you send.
No. Inward remittances are not taxed for the person receiving them in Egypt. This is general information, not tax advice.
The recipient's full name as it appears on their account and their 29-character Egyptian IBAN (starting EG). For some bank-to-bank routes the receiving bank's SWIFT/BIC code is also used.
If you're paying into a wallet such as InstaPay or Vodafone Cash, you usually just need the linked mobile number or InstaPay address.
Our sources & how we keep this current
Last updated: June 2026. The live rates above refresh automatically, and we review the rest of this guide every month — updating it whenever the rules on payments, tax or regulation change.
Sending to Egypt from another country?
Our live comparison can't always quote transfers that start outside the UK yet. These verified provider shortlists cover popular routes into Egypt: