What is the local currency?
The currency in Egypt is the pound (EGP), abbreviated E£. In Arabic, the pound is called a guineh. The pound is divided into 100 piastres, and each piastre into 10 millims.
What denominations does it come in?
- Bills are available in denominations of E£ 1, 5, 10, 20, 50 and 100, and 25 and 50 piastres.
- Coins are available in denominations of 5, 10 and 25 piastres.
What is the best way to exchange currency?
The best way to exchange currency is at most banks or hotels. Also, for convenience, private exchange agencies are located at several areas downtown and in the suburbs.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash is the preferred method of payment, but credit cards are slowly becoming a popular way to pay for items in hotels, restaurants and tourist-type shops. You may also use traveler's checks, which can be exchanged at most banks and are accepted as a form of payment at many tourist shops, hotels and restaurants.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
Credit cards are acceptable forms of payment in most hotels, restaurants, tourist-type shops and some supermarkets. It is recommended that you always carry a small amount of cash on you, but be aware of pickpockets in public places.
By what method are bills (such as rent and utilities) paid?
Most people pay their bills by check or cash.
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
Every bank has different requirements so it is best to find a bank that you are most comfortable with and then set up an appointment to meet with a bank consultant. They should be able to let you know everything you will need in order to open up an account with their bank. For further assistance or if you need help finding a bank, contact Crown Cairo.
Will foreign residents be able to find banking services in their native languages?
As mentioned above, all banks are different, but most banks offer services in English, Arabic and French. You should not have a problem finding the services you need in your native language. However, if you need additional assistance, contact Crown Cairo.
Are there any restrictions on services for those who are new to your country?
This depends on the bank, but you should not have any restrictions on any services.
What are typical banking hours?
Working days for banks in Cairo are from Sunday to Thursday. Banks are closed on Friday and Saturday.
Typical banking hours for governmental banks are from 8:30 a.m. to 2:00 p.m.
Typical banking hours for private/international banks are from 8:30 a.m. to 5:00 p.m.
Are automatic teller machines (ATMs) available around the clock?
Yes, you can find automated-teller machines (ATMs) in various locations throughout Cairo.
Is there any other money information that might help me?
Keep in mind that there is a shortage of small change in Egypt. When exchanging money, make sure to ask for plenty of small denominations.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.