Take advantage of low fees and competitive exchange rates when sending money to Egypt.
Compare international money transfers to Egypt
Our interactive table lets you compare current fees, exchange rates, transfer speeds and other details about sending your money overseas. Enter the amount you’re transferring, and see how much will arrive at your destination.
Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.
With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
- If the provider quotes a different rate to the one above please let us know
How do international money transfers work?
If you don’t already have an account with the company you choose for your transfer, you’ll need to open one either in person or online. The money you send can be in cash or from a bank account, a debit card or even a credit card. Simply put, once you’ve signed over your funds and designated a recipient, the bank or transfer agency whisks it through electronic money networks to its destination, where your recipient either picks it up in person or finds it deposited into their bank account.Back to top
Case study: Ahmed sends money to Egypt
In Egypt, Ahmed’s family owns a well-known carpet company that exports a large volume of its products to the US. His father wants Ahmed to relocate to New York and open a second store in the city.
One concern the family has is transferring the profits back to Egypt to continue supporting the family business. To find the solution, Ahmed compares a few options when sending $1,000 to see how that translates to Egyptian pounds.
|Money Transfer Company A||Money Transfer Company B|
|Exchange rate||1 USD = 18.378 EGP||1 USD = 18.79 EGP|
|Amount received||$18,378 EGP||$18,777 EGP|
|Turnaround time||1 day||10 minutes|
|Options for the transfer||Online, phone, agent||online|
Ahmed discovers that although Money Transfer Company A doesn’t charge a transfer fee, Money Transfer Company B’s superior exchange rate allows Ahmed to send his father more money.Back to top
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Most countries’ exchange rates are flexible, which means they can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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How to compare providers when transferring money to Egypt
You’ll want to consider costs, of course. But other factors can also affect your choice.
- Exchange rate. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
- Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
- 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 the US.
- Pickup method. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
- Turnaround time. Will the funds be available for your beneficiary in minutes, or it take several working days to arrive?
Ways to send money to Egypt from the US
- Bank transfers. Many major US banks will allow you to wire money to banks in Egypt.
- Money transfer providers. It’s simple and convenient to send an online money transfer to Egypt from the comfort of your home.
- Providers with cash pickup. MoneyGram and Ria have offices in Egypt where your recipient can pick up money, but they make only euros or US dollars available for your recipient.
- M-Pesa. M-Pesa is a safe, secure way to send, receive and store money through your mobile phone or an app. Top up your account at one of more than 287,000 agent locations and then send money to loved ones, who can visit an agent to withdraw their funds.
- PayPal. Use this digital payment giant to transfer money from the US to Egypt, with a percentage of the transaction amount charged as a fee.
How safe is a money transfer?
When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
Follow the money to Egypt
Whichever method you use, keep a record of the transaction reference number and other details so you can track the transfer and follow up if your recipient has any issues.
For a more comprehensive look at sending money overseas, see our guide to sending money overseas.Back to top