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Egypt Independent
10-04-2025
- Business
- Egypt Independent
E-transfer fee hike: Banque Misr & Bank of Alexandria follow InstaPay's lead
Banque Misr and Bank of Alexandria have decided to implement a new increase in the fees for money transfers through their electronic applications, as part of the ongoing changes in digital banking policies. At the same time, the National Bank of Egypt announced the continued full exemption from transfer fees through its digital channels (AlAhly Net and AlAhly Mobile) indefinitely, as part of its policy to support financial inclusion. This step comes after InstaPay imposed a transfer fee of 0.1 percent of the transaction amount, with a minimum of 50 piasters and a maximum of LE20. The fee was set at a maximum per transaction of LE 70,000, a daily maximum of LE 120,000, and a monthly maximum of LE 400,000. National Bank of Egypt The National Bank of Egypt is exempting transfers between NBE accounts, transfers from NBE to other banks, and all transactions via digital channels. This comes despite the fact that the basic tariff sets a fee of one per thousand (five LE to LE 75) + three LE per transaction. Banque Misr Following the official announcement of the new InstaPay instant transfer application fees at the beginning of April, Banque Misr surprised its customers in an official post by announcing new fees for electronic transfers conducted via its electronic application 'BM Online.' Banque Misr said in a post on its official Facebook page that the decision to impose new fees comes within its updated terms of service for the app, which aims to achieve greater streamlining of the electronic payment process and make it similar to the fees charged by the InstaPay app. Regarding the new fees, Banque Misr indicated that a fee of 0.1 percent of the transaction value will be applied, with a minimum of 50 piasters and a maximum of LE 20 per transaction, similar to the InstaPay app. For example – to transfer LE 500, the fee is 50 piasters. To transfer LE 1,000, the fee is LE 1. To transfer LE 5,000, the cost is five LE. The user incurs a maximum fee of LE20 when transferring from LE20,000 to LE70,000. Bank of Alexandria Bank of Alexandria has decided to impose 0.15 percent fee on instant transfers made through its electronic application, with a minimum fee of LE10 and a maximum of LE50. This coincides with the new update launched by InstaPay regarding fees and tariffs for its services, which took effect on April 1. Edited translation from Al-Masry Al-Youm
Egypt Independent
07-04-2025
- Business
- Egypt Independent
After InstaPay, fees for money transfers through Applications of 3 Banks
Banque Misr and Bank of Alexandria have decided to implement a new increase in the fees for money transfers through their electronic applications, as part of the ongoing changes in digital banking policies. At the same time, the National Bank of Egypt announced the continued full exemption from transfer fees through its digital channels (AlAhly Net and AlAhly Mobile) indefinitely, as part of its policy to support financial inclusion. This step comes after InstaPay imposed a transfer fee of 0.1 percent of the transaction amount, with a minimum of 50 piasters and a maximum of LE20. The fee was set at a maximum per transaction of LE 70,000, a daily maximum of LE 120,000, and a monthly maximum of LE 400,000. National Bank of Egypt The National Bank of Egypt is exempting transfers between NBE accounts, transfers from NBE to other banks, and all transactions via digital channels. This comes despite the fact that the basic tariff sets a fee of one per thousand (five LE to LE 75) + three LE per transaction. Banque Misr Following the official announcement of the new InstaPay instant transfer application fees at the beginning of April, Banque Misr surprised its customers in an official post by announcing new fees for electronic transfers conducted via its electronic application 'BM Online.' Banque Misr said in a post on its official Facebook page that the decision to impose new fees comes within its updated terms of service for the app, which aims to achieve greater streamlining of the electronic payment process and make it similar to the fees charged by the InstaPay app. Regarding the new fees, Banque Misr indicated that a fee of 0.1 percent of the transaction value will be applied, with a minimum of 50 piasters and a maximum of LE 20 per transaction, similar to the InstaPay app. For example – to transfer LE 500, the fee is 50 piasters. To transfer LE 1,000, the fee is LE 1. To transfer LE 5,000, the cost is five LE. The user incurs a maximum fee of LE20 when transferring from LE20,000 to LE70,000. Bank of Alexandria Bank of Alexandria has decided to impose 0.15 percent fee on instant transfers made through its electronic application, with a minimum fee of LE10 and a maximum of LE50. This coincides with the new update launched by InstaPay regarding fees and tariffs for its services, which took effect on April 1. Edited translation from Al-Masry Al-Youm
CairoScene
13-02-2025
- Business
- CairoScene
Orange Corners to Assist Startups in Seven Egyptian Governorates
The programme, which aims to empower young entrepreneurs, will cover Luxor, Assiut, Alexandria, Menoufia, Dakaklia, Kafr El-Sheik and Beheira. Feb 13, 2025 The Ministry of Planning and Economic Development, and the Ministry of International Cooperation announced the expansion of the Orange Corners programme to support startups in seven governorates. The programme will now cover Luxor, Assiut, Alexandria, Menoufia, Dakaklia, Kafr El-Sheik and Beheira. A programme aiming to empower and assist young entrepreneurs, Orange Corners is a partnership between Egypt and the Netherlands, as well as private sector institutions such as the Bank of Alexandria and City Edge Developments. The programme has supported over 115 startups, 58% of which are female-led, across key sectors, including agriculture, waste management, health, education, e-commerce and financial technology. The ministry stated that the programme will aim to support 130 companies across a range of industries in 2025.
Zawya
12-02-2025
- Business
- Zawya
Egypt expands Orange Corners Program to support startups in 7 governorates
Egypt - Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat announced the expansion of the Orange Corners program to support startups in seven governorates, as per a statement. The program will now cover Luxor, Assiut, Alexandria, Menoufia, Dakahlia, Kafr El-Sheikh, and Beheira. Orange Corners is a partnership between Egypt and the Netherlands, in collaboration with private sector institutions such as the Bank of Alexandria and City Edge Developments. The program aims to empower young entrepreneurs by providing resources, tools, and networks to help turn innovative ideas into successful businesses. Since its launch in 2021, the program has supported more than 115 startups, 58% of which were led by women, across key sectors such as agriculture, waste management, health, education, e-commerce, and financial technology. Al-Mashat emphasized the importance of these sectors in addressing development challenges and fostering economic growth. She noted that the program is expected to support 130 companies in various industries this year, contributing to Egypt's entrepreneurship ecosystem. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
