Taking funds out of Egypt to the UK

Member since 29 August 2016

Egypto303Member29 August 2016 10:09:22

Having sold an appt. in El Gouna - we wish to bring money back to the UK.聽 Transaction is in USD - what can we bring out in cash and how do we transfer the rest.
No problem receiving it here, details easy but how to release it from Egypt.聽 Agent says he has it all in
cash !聽 Putting it through their company account will incur a charge of 22%.聽
Can we open an account while there and wire money to the UK.聽 Have been told the banks want to keep the money for 6 months before transferring - is this on a certain amount?

lynneroy2002 Contributor

Member since 06 December 2012

lynneroy2002Contributor29 August 2016 15:26:41

175

Hi this is my personal experience. I have a bank account with Hali United bank at city stars. I have two account one normal Egyptian savings account and one account I use for transferring monies. The transfer account does not incur any interest and can only transfer in US$. 100000US$ can only be transferred in a year. However, the bank will help you. If you are married. You open two accounts and do the same.