After a 15 day pause, Egypt’s banks resume fees on issuing cards and opening accounts

Banks operating in Egypt on Sunday resumed collecting fees on opening accounts (current or savings), adhering to the minimum account balance, for new customers after the end of the “People of Determination” event, one of the Central Bank of Egypt’s activities within the financial inclusion initiative.

What are the documents required to create a bank account?

New customers will need a copy of the national ID card to open a bank account, alongside signing the application to open an account and deposit the minimum balance – which varies from one bank to another and according to the type of account according to the policy of each bank.

Previously, the CBE announced a set of proposed activities to be implemented during financial inclusion activities including offering appropriate banking products, in addition to opening accounts for new customers without expenses and without a minimum deposit.