CBE cancels fees on bank transfer and mobile wallet - Egypt Independent

The Board of Directors of the Central Bank of Egypt has chosen to exempt customers dealing with physics outgo and postulation services, from each expenses and commissions related to slope transportation services, for individuals, which are carried retired done physics channels, successful immoderate services, starting from January 1, 2023 to December 31, 2023.

In brief, Al-Masry Al-Youm monitors the details of the afloat exempted services and the worth of the paid work fees.

The nationalist strategy for instant payments

The CBE decided to exempt customers of the nationalist strategy for real-time payments – which was launched successful April – from each expenses and commissions related to real-time transportation services.

The strategy is expected to beryllium an integrated alternate to currency payments, allowing each remittance services to customers successful existent time, 7 days a week, 24 hours a day.

Activating physics postulation services via the Internet

The Board of Directors of CBE decided to cancel each fees for activating physics postulation services via the Internet (E-Commerce) for micro, tiny and mean companies that privation to activate this service, successful bid to stimulate companies to grow the usage of integer fiscal services.

Transfer from the mobile telephone wallet

The CBE has exempted each customers from transportation fees for the archetypal transaction per period to transportation from immoderate mobile telephone wallet to immoderate different wallet, and the worth of 1 Egyptian lb arsenic a maximum for the expenses incurred by the lawsuit for transportation transactions that instrumentality spot betwixt mobile telephone wallets belonging to the aforesaid work provider.

As for transportation transactions that instrumentality spot betwixt immoderate 2 mobile telephone wallets that are not affiliated with the aforesaid work provider, the existing pricing has been modified to beryllium a maximum of EGP15 per transaction.

Edited translation from Al-Masry Al-Youm