Take advantage of low fees and competitive exchange rates when sending money to Egypt.
Compare international money transfers
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 U.S. His father would like 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 decides to compare a few options using a base amount of $1,000 to see how that translates to Egyptian pounds.
Money transfer company
|Company 1||Company 2|
|Rate of exchange||$1.00 USD = $18.378 EGP||$1.00 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|
As you can see, although Company 1 doesn’t charge a transfer fee, Company 2′s superior exchange rate allows Ahmed to send his father more money.Back to top
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How to compare transfer companies when transferring money to Egypt
You’ll want to consider costs, of course. But other factors can also affect your choice.
- Rate of exchange. U.S. dollars are converted to pounds at an exchange rate that’s set by the transfer provider. These rates vary day to day, even moment to moment, and among providers.
- Fees. These will vary depending on how much is sent. For example, with the second money transfer company in the case study above, the fee increased to $28 when sending $2,000.
- 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 U.S.
- Pick up 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 will they take several working days to arrive?
Ways to send money to Egypt from the U.S.
- Bank transfers. Some major U.S. banks offer wire transfers to Egypt.
- Money transfer providers. Online providers can help you transfer money quickly and easily, but only a few will transfer Egyptian pounds; the others transfer euros or U.S. dollars.
- Transfer companies with cash pickup. Providers like MoneyGram and Ria have offices in Egypt where your recipient can pick up the money, but they only make euros or U.S. dollars available for your recipient.
- PayPal. An online account can be used to transfer money from the U.S. 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