Send money to Egypt securely

With growing numbers of Egyptian nationals immigrating to Canada, there is a need for affordable and cost effective money transfers between the two nations.

Due to its exotic nature, it can be difficult to find an agency or bank that can convert Canadian dollars into the local currency of Egyptian Pounds. However, the US dollar and other major currencies are widely accepted in Egypt, giving you the opportunity to send transfers to Egypt from Canada quickly and easily.

While some Canadian banks will allow you to send money to Egypt, they tend to charge high transfer fees and give low exchange rates. Dedicated money transfer companies, who specialize in sending large sums of money around the world, can send funds to Egypt, charging much lower fees than the banks and providing more competitive exchange rates and faster transfer speeds.

Read our guide to find out how to send funds cheaply and quickly from Canada to Egypt.

Rates last updated July 24th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TransferWise International Money Transfers
CAD 2.50
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Exclusive: World First International Money Transfers
CAD 250
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
WorldRemit International Money Transfers
CAD 0.51
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
XE International Money Transfers
$0
1 day
Online, Phone, Bank Account to Bank Account
Send money in more than 60 currencies. Fee-free international money transfers with a global brand.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Case study: Money transfer companies versus banks

In Egypt, Ahmed’s family owns a well known carpet company that exports a large volume of its products to Canada. His father would like Ahmed to relocate to Vancouver and open a store in the city.

One concern the family has is transferring the profits back to Egypt to continue supporting the original family business. To find a solution, Ahmed decides to compare a couple of options using a base amount of $1,000 Canadian dollars (CAD). He has discovered two companies that can send money between Canada and Egypt using the local currency of Egyptian pounds. You can see the results of his comparison between specialist money transfer companies below, using the exchange rates in the spring of 2018. Check current rates before making your decision.

Specialist company 1Specialist company 2
Rate of exchangeCAD$1.00 = 13.55 EGPCAD$1.00 = 13.70 EGP
Fees$19.99$15
Amount receivedEGP13,551.05EGP13,704.75
Turnaround timeTwo daysOne to two days
Options for the transferBank transferBank transfer
Difference in value+ EGP153.70

As you can see, Ahmed’s family will receive more money with the second transfer service and Ahmed will save himself $5 in fees every time he transfers money back.

Learn how to compare transfer companies when sending money to Egypt

There are a few factors which are incredibly important to compare when determining how to send money overseas. These factors include:

  • Rate of exchange. The difference between two companies offered exchange rates may only be a few numbers off, but this is something that can make a huge difference when you are sending a large sum of money.
  • Fees. These will vary depending on how much money you are sending. Some companies will hide high fees inside competitive exchange rates, so be sure to read the fine print and understand all of the fees associated with the transfer. Some companies will completely waive fees if you send over a certain amount of money.
  • Transfer methods. Some transfer companies will allow you to use a credit card and complete the transaction online, while others will require that you go to an agency in order to send money to Egypt from Canada. Banks typically allow you to lodge transfers online, on the phone or in person at a branch.
  • Pick-up methods. Pick-up methods will vary between companies, but generally include cash pick-up or direct deposit into a bank account.
  • Turnaround time. Pick-up times for transfers typically range from anywhere between just a few minutes to three or four business days. Banks can generally have the funds sent to your recipient within three to five days.

How to send money to Egypt from Canada

It might be difficult to find a Canadian bank that will transfer money to Egypt, or convert it to the local currency of EGP. The following companies offer services between Canada and Egypt:

  • MoneyGram. They offer a cash pick-up service of USD or EUR when sending money to Egypt from Canada. You must visit a branch location in Canada to send money via MoneyGram.
  • Western Union. The transaction can be completed online, using a credit or debit card as payment. Cash pick-up is the only option for your recipient and it can be received in USD or EGP.
  • PayPal. An online account can be used to transfer money from Canada to Egypt, with a percentage of the transaction amount charged as a fee. Both you and your recipient will need to have PayPal accounts to use the online service.
  • WorldRemit. After creating an online account, you can send money to your recipient that can be available for cash pick-up or sent directly to their bank account. Furthermore, this company allows you to directly send EGP.
  • OFX. Much like WorldRemit, OFX allow you to send EGP. You can send funds using OFX that will be transferred directly to your recipient’s bank account.

Emergency cash transfers in Egypt

If you’re in Egypt on vacation and have had your wallet stolen or lost your cash, there are a few options for you to receive emergency money. These options include:

  • Travel insurance. It’s recommended that you always purchase insurance when travelling overseas. In many cases, your insurance policy will cover a replacement for lost or stolen cash. Just be prepared to file a claim by holding on to any police reports or other official documentation.
  • Cash transfer company. As long as you still have your photo identification, you’ll be able to have money wired to you from Canada to an agent location in Egypt. Have a friend or family member use a service like Western Union or MoneyGram to send the funds.
  • Credit card insurance. Many credit card companies will offer insurance for lost or stolen cash. Contact your bank or credit card provider to find out more, including how much money you can receive and how to pick it up.

Cash pick-up locations in Egypt, branches for Western Union and MoneyGram

Listed below are the addresses and phone numbers for pick-up agents in Egypt for Western Union and MoneyGram. Note that these types of businesses close on Fridays and Saturdays in Egypt. Call ahead to confirm the location and to see if the branch has enough cash on hand, especially if you’re picking up a large sum of money.

Western Union

  • Cairo

    AAIB Maadi BranchRoad No 9 Maadi Palace Building Station Square

    Cairo, Cairo

    +002-16430

    Open 8:30am to 5pm Sunday through Thursday, closed on Fridays and Saturdays.

  • AAIB Maadi Laselky

    4/1 Laselki St.- new Maadi-cairo Near to Palestine SquareCairo

    +002-16430

    Open 8:30am to 5pm Sunday through Thursday, closed on Fridays and Saturdays.

  • Ismalia

    Bank of Alexandria Ismailia25 Khaled Ibn El Waleed St.

    Ismailia, Ismailia

    +20-64-3912461

    Open Sunday through Thursday 8:30am to 6pm, closed on Friday and Saturday.

  • 3 Abdelmonem Omara St. Elbalaj

    Belagat Road beside Roudy RestIsmailia, Ismailia

    +20-64-3920410

    Open 7am to 11:30pm Saturday through Thursday, 1am to 11:30pm Fridays

MoneyGram

  • Cairo

    BDC – El Korba

    16 Baghad St. El Korba Masr El Gedida

    Cairo

    +224-178645

    Open Sunday through Thursday 8:30am to 2pm, Friday and Saturday closed.

  • Banque Du Caire – El Sherouq

    2 A El Sheouq City El Hai Thanimegawra

    Abdel Kadar Helmy Street From El Mashtal Street in front of Cairo

    +226-878011

    Open Sunday through Thursday 8:30am to 2pm, Friday and Saturday closed.

  • Banque Du Caire – Ismailia

    7 Farid Nada St.

    Ismailia

    +239-14613

    Open Sunday through Thursday 8:30am to 3pm, Friday and Saturday closed.

  • Banque Du Caire – Suez

    1 Tahrie & Nahda Street

    Suez

    +233-39106

    Open Sunday through Thursday 8:30am to 3pm, Friday and Saturday closed.

Tips for picking up cash in Egypt

As of February 2018, the Government of Canada does not recommend that Canadians travel to Egypt. It’s suggested that you avoid all non-essential travel to the country. If you do need to travel to Egypt, practise a high level of caution when picking up cash and secure a reliable and trustworthy means of transportation to get you to and from the agency or ATM safely. Avoid using public transportation with large amounts of cash and store the money in a safe place as soon as possible.

How to send money to Egypt

Keeping in mind that cash pick-up will not be easy on a Friday or Saturday, choose when you are going to send money to Egypt around that schedule. You’ll also likely need to provide the following information when using a service like Western Union or MoneyGram:

  • Recipient’s name. Make sure that it’s an exact match to how their name appears on their valid identification.
  • Address. The physical address of the person who is to receive the money.
  • Phone number. A number where the recipient can be reached.
  • Identifying question. In some cases, you may be able to supply a question that the recipient must be able to respond to correctly before they can pick up the cash.

For cash pick-up options, you will be given a special tracking number that needs to be shared with the person you are sending the money to in Egypt. You will also have to let them know the exact amount and the specific branch location where they can pick up the funds.

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