Sending business payments from the US to Egypt
A US company pays an Egyptian supplier by SWIFT wire in US dollars to the 29-character IBAN of the supplier's dollar account. For goods on Egypt's export proceeds list, the full value must reach a bank in Egypt in convertible foreign currency before the goods ship, so check the goods before agreeing terms. This guide covers the details to collect, the rules, the bank week, documents and fees.
- 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.
- Mashreq Egypt charges 0.1%, minimum $2 and maximum $10, to credit an inward foreign currency transfer to a foreign currency account.
Details to collect from your recipient in Egypt
Egyptian banks adopted the IBAN standard in 2020, and, as reported by Daily News Egypt, transfers are not accepted without one. Collect the IBAN of the account in the invoice currency, in writing, together with the bank's SWIFT code.
| Detail | What to ask for | 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 |
| IBAN | 29 characters starting EG, for the account in the invoice currency | A dollar wire to a pound account is converted at the bank's rate |
| Bank name, branch and SWIFT code | 8 or 11 characters | Routes the wire |
| Intermediary bank | The US bank the supplier's bank uses for dollars | Leaving it out can slow routing |
| Reference | Invoice number and a short description of the goods or service | The 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.
USD or pounds: what the supplier sells decides how you pay
The general rule is open: Article 212 of Law No. 194 of 2020, the law of the Central Bank of Egypt (CBE), lets any person retain foreign currency and transfer it through banks, while domestic transactions are in Egyptian pounds. A sale to a US buyer is an export, so it can be invoiced in dollars. The listed export goods are stricter. The US dollar to Egyptian pound page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Holding foreign currency | Any person may retain any amount of foreign currency (Article 212) | The supplier can keep your dollars |
| Export proceeds list | Full value paid in convertible foreign currency through a CBE-accredited bank before shipment, by documentary credit, transfer or a bank-guaranteed method | For listed goods, pay before shipment or open a letter of credit |
| Listed goods | Decision No. 273 of 2025 added 65 commodities, including flour, methanol, fertilizers, aluminum sheets and soybean oil | Ask the supplier whether its customs codes are on the list |
| Reporting | Banks report all foreign exchange operations to the CBE (Article 215) | Quote a clear purpose |
| Cryptocurrencies | Issuing, trading or operating platforms without a CBE license is prohibited (Article 206) | Do not pay in USDT or USDC |
Sources: Law No. 194 of 2020, Articles 206, 212 and 215 (Andersen Egypt translation); Decision No. 273 of 2025 (RegAlert). As published on 29 October 2026.
Paying in pounds from abroad is possible for services and unlisted goods: Wise lists EGP as a currency it sends to within Egypt by local transfer. Pounds do not satisfy the foreign currency rule for listed goods. The supplier-side guide is how to pay suppliers in Egypt.
Rails, the bank week and arrival times to Egypt
A dollar wire settles in the United States on Fedwire, whose business day runs from 9:00 p.m. ET the previous evening to 7:00 p.m. ET on weekdays, with a 6:45 p.m. ET cut-off for customer transfers. Under the CBE's regulation on working hours, Egyptian banks work Sunday to Thursday, with customer service from 8:30 a.m. to 2:00 p.m. on regular days and 9:30 a.m. to 1:30 p.m. in Ramadan.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD before shipment | US dollars | Credited on an Egyptian banking day, Sunday to Thursday | Listed goods and advance payments; the bank issues the certificate customs needs |
| Letter of credit for the full value | US dollars against documents | On presentation of complying documents | Named for listed goods |
| SWIFT wire on open account | US dollars or as invoiced | Credited on an Egyptian banking day | Unlisted goods and services |
| Pound payout through a provider | Egyptian pounds | Set by the provider | Services and unlisted goods only |
Sources: CBE Regulation Book 1.7, working hours; Decision No. 273 of 2025; Wise; Federal Reserve Financial Services, Fedwire operating hours. As published on 29 October 2026.
Because Egyptian banks close on Friday and Saturday and Fedwire closes on Saturday and Sunday, a wire sent from the US on a Thursday afternoon may not be credited until Sunday. For listed goods, build these days into the shipping schedule, because the money must be in the supplier's bank before the goods leave.
Documents, screening and why payments to Egypt are held
For listed goods, the supplier's bank issues a certificate for customs once the full value has arrived, and the goods cannot leave without it. For other goods and services, the bank asks for the invoice and, for exports, the customs papers. Put the invoice number and the goods or service in every payment.
One more check sits on your side: OFAC states that all US persons, including US-incorporated companies and their foreign branches, must comply with its sanctions, so screen the recipient, its owners and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| Listed goods paid after shipment | The supplier cannot get the certificate customs needs | Pay before shipment or by letter of credit |
| Old account number instead of the IBAN | Rejected or held | Use the 29-character IBAN starting EG |
| Dollars sent to a pound account | Converted at the bank's buying rate | Ask for the dollar account's IBAN |
| Sent on a Thursday afternoon | Credited on Sunday | Send by Wednesday |
| No purpose or invoice reference | The bank asks the supplier for documents | Quote the invoice number and the goods |
Sources: Decision No. 273 of 2025; Daily News Egypt; CBE Regulation Book 1.7. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Egypt
At Mashreq Egypt's published rates, a $20,000 wire credited to the supplier's dollar account costs it $10, because the cap applies; a letter of credit payment costs 0.3% with a $75 minimum. Intermediary deductions on SHA terms are often larger. Send with OUR when the supplier must receive the full amount, which matters most for listed goods paid before shipment. For the supplier's account options, see USD business accounts in Egypt.
Helm, a financial technology company and not a bank, sends international supplier payments from your company's account by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager. The rate, fee and expected arrival are shown before you confirm. Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with funds held at Lead Bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
How do I send a business payment from the US to Egypt?
Send US dollars by SWIFT wire to the 29-character IBAN of the supplier's dollar account, with OUR charges and the invoice number. For goods on Egypt's export proceeds list, pay before shipment or by letter of credit.
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.
What is an Egyptian IBAN?
An Egyptian IBAN has 29 characters: EG, two check digits and the domestic bank account code. Egyptian banks have required IBANs for transfers since 30 June 2020.
Are Egyptian banks open on Friday?
No. Egyptian banks work Sunday to Thursday under the CBE's regulation on working hours, so a wire sent from the US on a Thursday afternoon may not be credited until Sunday.
Can I pay an Egyptian supplier in USDT?
No. Article 206 of Law No. 194 of 2020 prohibits cryptocurrency issuance, trading or platforms without a CBE license. Pay by bank wire.
What does Helm charge to send money to Egypt?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
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 of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
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.