How to pay suppliers in Egypt from the US: IBAN, USD wires and export rules
To pay a supplier in Egypt, collect its 29-character IBAN starting EG and its bank's SWIFT code, then send US dollars by SWIFT wire to the supplier's dollar account, with OUR charges. For goods on Egypt's export-proceeds list, the full value must reach a bank in Egypt in foreign currency before shipment, by advance transfer or letter of credit. This guide covers the rules, details to collect, rails, bank days, holidays, published fees and why payments are delayed.
- Article 212 of Law No. 194 of 2020 lets Egyptian companies retain foreign currency and make inward and outward transfers through banks or licensed entities.
- Decision No. 273 of 2025 added 65 commodities to the list of exports whose full value must be paid in convertible foreign currency through a bank in Egypt before shipment.
- An Egyptian IBAN has 29 characters, starting with EG, and Egyptian banks have required IBANs for transfers since 30 June 2020.
- Egyptian banks work Sunday to Thursday, so they share only four business days a week with Fedwire, which closes on Saturday and Sunday.
- Mashreq Egypt charges 0.1%, minimum $2 and maximum $10, to credit an inward foreign currency transfer to a foreign currency account.
- Article 206 of Law No. 194 of 2020 prohibits crypto activity without a CBE license, so stablecoins are not a way to pay an Egyptian supplier.
USD or EGP: what the supplier sells decides how you pay
Start with what the supplier sells. Egypt lets companies hold and move foreign currency, but it fixes how payment must arrive for a list of export goods, and that list decides the route for many buyers.
The general rule is open. Article 212 of Law No. 194 of 2020, the law of the Central Bank of Egypt (CBE) and the banking sector, lets any natural or legal person retain any amount of foreign currency and make inward and outward transfers through banks or licensed entities. The same article requires domestic transactions in Egypt to be conducted in Egyptian pounds (EGP) unless an exception applies (Law No. 194 of 2020, English translation by Andersen Egypt). A sale from an Egyptian supplier to a US buyer is an export, so it can be invoiced and paid in US dollars.
The listed goods are stricter. Ministerial Decree No. 235 of 2013 lists exports whose full value must be paid in convertible foreign currency, and Decision No. 273 of 2025 added 65 commodities to it, including flour, polypropylene, polyethylene, methanol, phosphate and ammonium nitrate fertilizers, aluminum sheets, kerosene and soybean oil (Decision No. 273 of 2025). For those goods, the payment must reach a bank in Egypt before shipment.
| What the supplier sells | Currency to pay | How and when | What the supplier needs |
|---|---|---|---|
| Goods on the export-proceeds list | Full value in convertible foreign currency, such as USD | Through a CBE-accredited bank in Egypt: documentary credit, full transfer before shipment, or a bank-guaranteed method | A bank certificate for customs before the goods leave |
| Other goods | USD, EUR or as invoiced | SWIFT wire to the supplier's bank, on the agreed term | Invoice and customs export papers for its bank |
| Services, such as software or design | USD or as invoiced; some providers pay out in EGP | SWIFT wire, or a local EGP payout where the provider offers it | Contract and invoice for its bank |
Sources: Law No. 194 of 2020, Articles 212 and 215; Decision No. 273 of 2025; as published on 29 October 2026. Check the customs codes on the list with the supplier's bank.
A documentary credit, also called a letter of credit, is a bank's promise to pay the exporter when the shipping documents match the agreed terms. Since 6 March 2024, when the CBE's Monetary Policy Committee announced that the exchange rate would be determined by market forces (CBE press release), the pound has moved with the market. A supplier paid in dollars can keep them under Article 212 and decide when to convert.
Paying in pounds from abroad is possible for some payments: Wise lists EGP as a currency it can send to, within Egypt, by local transfer (Wise). A pound payout does not meet the foreign currency rule for listed goods.
Details to collect from an Egyptian supplier
Collect the payment details once, in writing, on the supplier's letterhead or commercial invoice. Egyptian banks adopted the IBAN standard in 2020. IBAN, the International Bank Account Number, identifies an account across borders. As reported by Daily News Egypt, an Egyptian IBAN has 29 characters: the country code EG, two check digits that catch typing errors, and the domestic bank account code; from 30 June 2020, transfers would not be accepted without an IBAN (Daily News Egypt, 4 July 2020).
| Detail | Example or format | Why it matters |
|---|---|---|
| Beneficiary name | The supplier's registered name, exactly as on its bank account | Arabic names are transliterated in different ways; use the bank's spelling |
| Beneficiary address | Full street address in Egypt | Required on SWIFT wires |
| IBAN of the account in the invoice currency | 29 characters starting EG, written without spaces | A dollar wire to a pound account is converted at the bank's rate |
| Bank name, branch and SWIFT/BIC code | 8 or 11 characters | Routes the wire to the right bank |
| Intermediary (correspondent) bank | The US bank the supplier's bank uses for dollars, with its SWIFT code | Leaving it out can slow routing |
| Payment reference | Invoice number and a short description of the goods or service | The supplier's bank reports each foreign exchange operation to the CBE |
Sources: Daily News Egypt on the IBAN standard; Law No. 194 of 2020, Article 215; as published on 29 October 2026. Field list compiled by the Helm Editorial Team.
A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. Article 215 of Law No. 194 requires banks to report all foreign exchange operations to the CBE, which is why the supplier's bank asks for the purpose of each receipt and why a clear reference speeds up crediting. Treat any change of bank details as a fraud risk, and confirm new details by calling a contact you already know. Our SWIFT code lookup helps confirm the bank code.
How the money moves: SWIFT, letters of credit and EGP payouts
A payment from a US account reaches an Egyptian bank as an international wire. Your bank sends it over SWIFT, the global messaging network banks use for cross-border payments, and the dollars settle in the United States on Fedwire, the Federal Reserve's system for large-value transfers, through the Egyptian bank's correspondent. Every SWIFT wire carries a charges instruction: OUR means you pay all bank charges, SHA means each side pays its own bank, and BEN means all charges come out of the amount sent.
| Route | Currency the supplier receives | Who it suits | Notes |
|---|---|---|---|
| SWIFT wire before shipment | USD | Listed goods; advance payment for any goods | The supplier's bank issues the certificate for customs |
| Letter of credit for the full value | USD | Listed goods; larger or first orders | One of the methods named for listed goods |
| SWIFT wire on open account | USD or as invoiced | Goods outside the list, and services | Pay after shipment on the agreed term |
| Documentary collection | USD | Goods outside the list | Banks release documents against payment |
| Local EGP payout through a provider | EGP | Services and goods outside the list | Wise sends EGP within Egypt by local transfer |
Sources: Decision No. 273 of 2025; Wise, currencies you can send to; as published on 29 October 2026.
Documentary collection sends the shipping documents through the banks, and the buyer receives them only after paying. Do not offer to pay in stablecoins such as USDT or USDC: Article 206 of Law No. 194 prohibits the issuance, trading, promotion or operation of platforms involving cryptocurrencies without a license from the CBE Board.
Helm sends international payments to suppliers by SWIFT from the buyer's own account, and by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send. Egyptian suppliers that sell services to US buyers can also look at USD account options in Egypt, including account details in their own name.
Cut-offs, bank days and holidays
On the US side, the Fedwire Funds Service day opens at 9:00 p.m. Eastern Time (ET) on the previous calendar day and closes at 7:00 p.m. ET, with a 6:45 p.m. ET cut-off for customer transfers (Federal Reserve Financial Services). Your bank's own cut-off for international wires is earlier.
On the Egyptian side, banks work Sunday to Thursday, with customer service hours of 8:30 a.m. to 2:00 p.m. on regular working days and 9:30 a.m. to 1:30 p.m. in Ramadan, under the CBE's regulation on working hours (CBE Regulation Book 1.7). Because Egyptian banks close on Friday and Saturday and Fedwire closes on Saturday and Sunday, the two systems share only four business days a week. A wire sent from the US on a Thursday afternoon may not be credited until Sunday.
| Date | Closed | Plan for |
|---|---|---|
| Every Friday and Saturday | Egyptian banks | Send by Wednesday for crediting before the Egyptian weekend |
| Wednesday 11 November 2026 | US Fedwire (Veterans Day) | Send US wires by 10 November |
| Thursday 26 November 2026 | US Fedwire (Thanksgiving) | Send US wires by 25 November |
| Friday 25 December 2026 | US Fedwire (Christmas Day) | Send US wires by 24 December |
| Friday 1 January 2027 | US Fedwire (New Year's Day) | Send US wires by 31 December |
| Thursday 7 January 2027 | Egypt (Coptic Christmas) | Credited on Sunday 10 January |
| Monday 25 January 2027 | Egypt (Revolution Day) | Credited the next Egyptian business day |
Sources: CBE Regulation Book 1.7, working hours; Office Holidays, Egypt 2027; Federal Reserve holiday schedule K.8; as published on 29 October 2026. Islamic holidays follow the moon and move each year.
For listed goods, the money has to be in the supplier's bank before shipment, so build these days into the shipping schedule, not only the invoice due date.
Fees as published
A payment to Egypt can carry four costs: your provider's sending fee, the exchange rate if you convert, intermediary bank deductions on a SWIFT wire, and the supplier's bank charges. Each Egyptian bank publishes its own. The table shows one bank's published corporate charges as an example.
| Item | Published charge | Who pays it |
|---|---|---|
| Inward foreign currency transfer credited to a foreign currency account (Mashreq Egypt) | 0.1%, minimum $2, maximum $10 | Supplier |
| Inward remittance credited to a pound account (Mashreq Egypt) | 0.1%, minimum EGP 5, maximum EGP 50 | Supplier |
| Export documentary collection, handling commission (Mashreq Egypt) | 0.25%, minimum $50 | Supplier |
| Export letter of credit, advising (Mashreq Egypt) | $50 for a Mashreq client | Supplier |
| Export letter of credit, payment or negotiation (Mashreq Egypt) | 0.3%, minimum $75 | Supplier |
| Intermediary banks | Deducted in transit on SHA and BEN wires | Whoever the charges code assigns |
| Helm | Agreed in writing before the account opens | Buyer |
Source: Mashreq Egypt, corporate service charges, as published on 29 October 2026. Other banks set their own charges.
At these rates, a $20,000 wire credited to the supplier's dollar account costs it $10, because the cap applies. The larger costs are often the intermediary deductions on SHA terms and, if the supplier converts, its bank's buying rate. Send with OUR charges when the supplier must receive the full amount. Helm agrees pricing with each business before the account opens; speak to the team.
Common reasons payments are delayed or returned
| Problem | What happens | How to prevent it |
|---|---|---|
| Listed goods paid after shipment | The supplier cannot get the bank certificate customs needs, and the goods cannot leave | Check the list, then pay before shipment or by letter of credit |
| Old account number instead of the IBAN | Payment rejected or held | Use the 29-character IBAN starting EG |
| Dollars sent to a pound account | Converted on arrival at the bank's buying rate | Ask for the IBAN of the dollar account |
| Name spelled differently from the bank record | The bank queries the payment | Copy the name exactly from the supplier's bank letter |
| No purpose or invoice reference | The bank asks the supplier for documents | Quote the invoice number and the goods or service |
| Payment sent on a Thursday or before a holiday | Credited days later | Send by Wednesday and check both calendars |
Sources: Decision No. 273 of 2025; Daily News Egypt; CBE Regulation Book 1.7; as published on 29 October 2026.
If a wire has left but not arrived, ask your bank for the UETR (Unique End-to-end Transaction Reference), the tracking code that stays the same along the whole SWIFT chain, and send it to the supplier with your payment confirmation so its bank can trace the funds.
Step by step: paying a supplier in Egypt
- Check the goods. Ask the supplier whether its customs codes are on the export-proceeds list.
- Agree the currency and terms. Set USD, the payment term and OUR charges in the contract; for listed goods, payment before shipment or a letter of credit.
- Collect details once. Get the registered name, address, dollar account IBAN, SWIFT code and correspondent details in writing.
- Verify by phone. Confirm the details with a known contact before the first payment and after any change.
- Check the quote. Compare the rate, fee and expected arrival before you confirm.
- Time it. Allow for the Friday and Saturday weekend and holidays in both countries.
- Send proof. Share the UETR and SWIFT confirmation with the invoice number.
- Reconcile. Match the payment to the invoice and keep both for your records.
For how Egyptian companies receive the same payment, see how to receive USD in Egypt. If you also buy from Türkiye, read how to pay suppliers in Türkiye.
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What is the best way to pay a supplier in Egypt from the US?
Send US dollars by SWIFT wire to the IBAN of the supplier's dollar account in Egypt, with OUR charges and the invoice number in the reference. For goods on Egypt's export-proceeds list, pay before shipment or by letter of credit.
What bank details do I need to pay an Egyptian supplier?
You need the supplier's registered name and address, the 29-character IBAN of its account starting with EG, the bank's name, branch and SWIFT code, and the bank's US correspondent if your bank asks for it. Egyptian banks do not accept transfers without an IBAN.
Which Egyptian exports must be paid before shipment?
Goods on the list set by Ministerial Decree No. 235 of 2013, extended by Decision No. 273 of 2025 with 65 commodities such as flour, methanol, fertilizers and soybean oil. Their full value must be paid in convertible foreign currency through a bank in Egypt, by documentary credit, transfer before shipment or a bank-guaranteed method.
Can I pay an Egyptian supplier in Egyptian pounds?
Some providers pay out in pounds within Egypt, and Wise lists EGP as a currency it can send to. A pound payment does not satisfy the foreign currency requirement for listed export goods, so check the goods first.
Can an Egyptian company keep the dollars I pay it?
Yes. Article 212 of Law No. 194 of 2020 lets any natural or legal person retain any amount of foreign currency, so the supplier can keep the dollars in its foreign currency account rather than sell them.
How long does a wire to Egypt take?
The wire settles in the US on Fedwire and is credited on an Egyptian banking day, Sunday to Thursday. Because the two weekends differ, a wire sent on a Thursday afternoon in New York may not be credited until Sunday in Egypt.
Why did my Egyptian supplier receive less than I sent?
Intermediary banks can deduct fees from a wire sent with SHA or BEN charges, and the supplier's bank charges for crediting it. Sending with OUR charges makes you responsible for the transfer fees, so the invoice amount arrives.
Can I pay an Egyptian supplier in USDT?
No. Article 206 of Law No. 194 of 2020 prohibits the issuance, trading, promotion or operation of platforms involving cryptocurrencies without a license from the CBE Board. Pay by bank wire.
How do I trace a wire to Egypt that has not arrived?
Ask your bank for the UETR, the unique tracking reference that stays with a SWIFT payment from end to end, and send it to the supplier with your payment confirmation. The supplier's bank can use it to locate the funds.
References
- Law No. 194 of 2020 Concerning the Central Bank and the Banking Sector (English translation, Andersen Egypt)
- RegAlert: Decision No. 273 of 2025 adding commodities to the export proceeds list
- Daily News Egypt: Banks in Egypt switch to IBAN standard (4 July 2020)
- RegAlert: CBE Regulation Book 1.7, working hours
- Mashreq Egypt: Corporate service charges
- Wise: What currencies can I send to and from?
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Office Holidays: National holidays in Egypt in 2027
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.