Transfering money from Egypt, cheapest way?

Transfering money from Egypt, cheapest way?

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Discussion

Du1point8

Original Poster:

21,914 posts

205 months

Monday 23rd May 2011
quotequote all
The OH is having fun in Egypt but now she is a little wary about the economic situation across there and wants to start shifting money around but doesnt want to get hit on massive charges to move her money.

At the moment she is in Egypt and has an account in Finland and UK, she wants to shift some of the money to Finland.

The Egyptian account is in $ and she now needs to move it to a Euro account, but if she uses HSBC Egypt she has to use their money transfer service and their shocking conversion rates and so needs some other way to do it without losing a large amount.

The amount that we are talking about is between $5k and $9k depending on the ruling of HSBC Egypt as she cant remember if she needs to keep $5k minimum in the account or 5000 EGP ($900) which she is finding out today.

Another alternative is to carry that money on the plane with her in July when she goes over to Finland, then change it there when she finds the rate she wants, so she is finding out how much personal money she can carry on a plane exiting Egypt to Europe.

Does anyone else have any better ideas or knows of any safe money transfer services that she can use?

DBSV8

5,958 posts

251 months

Monday 23rd May 2011
quotequote all
Du1point8 said:
The OH is having fun in Egypt but now she is a little wary about the economic situation across there and wants to start shifting money around but doesnt want to get hit on massive charges to move her money.

At the moment she is in Egypt and has an account in Finland and UK, she wants to shift some of the money to Finland.

The Egyptian account is in $ and she now needs to move it to a Euro account, but if she uses HSBC Egypt she has to use their money transfer service and their shocking conversion rates and so needs some other way to do it without losing a large amount.

The amount that we are talking about is between $5k and $9k depending on the ruling of HSBC Egypt as she cant remember if she needs to keep $5k minimum in the account or 5000 EGP ($900) which she is finding out today.

Another alternative is to carry that money on the plane with her in July when she goes over to Finland, then change it there when she finds the rate she wants, so she is finding out how much personal money she can carry on a plane exiting Egypt to Europe.

Does anyone else have any better ideas or knows of any safe money transfer services that she can use?
http://www.cibeg.com/en/Pages/default.aspx


Yes if she is in Egypt ,close HSBC account walk out with the cash in dollars

open a CIB account and transfer from this account it is normally 5000 LE to keep the account open, better exchange rate .
and you can use internet banking to transfer

I was offered a savings account at 8% as well as regular debit account.

other option is to simply close account and take money out by hand you can legally import up to 8K sterling in cash with out declaring .


Du1point8

Original Poster:

21,914 posts

205 months

Monday 23rd May 2011
quotequote all
DBSV8 said:
Du1point8 said:
The OH is having fun in Egypt but now she is a little wary about the economic situation across there and wants to start shifting money around but doesnt want to get hit on massive charges to move her money.

At the moment she is in Egypt and has an account in Finland and UK, she wants to shift some of the money to Finland.

The Egyptian account is in $ and she now needs to move it to a Euro account, but if she uses HSBC Egypt she has to use their money transfer service and their shocking conversion rates and so needs some other way to do it without losing a large amount.

The amount that we are talking about is between $5k and $9k depending on the ruling of HSBC Egypt as she cant remember if she needs to keep $5k minimum in the account or 5000 EGP ($900) which she is finding out today.

Another alternative is to carry that money on the plane with her in July when she goes over to Finland, then change it there when she finds the rate she wants, so she is finding out how much personal money she can carry on a plane exiting Egypt to Europe.

Does anyone else have any better ideas or knows of any safe money transfer services that she can use?
http://www.cibeg.com/en/Pages/default.aspx


Yes if she is in Egypt ,close HSBC account walk out with the cash in dollars

open a CIB account and transfer from this account it is normally 5000 LE to keep the account open, better exchange rate .
and you can use internet banking to transfer

I was offered a savings account at 8% as well as regular debit account.

other option is to simply close account and take money out by hand you can legally import up to 8K sterling in cash with out declaring .
Will have a look at that, was wondering if there is an issue taking that kind of money out of Egypt, not getting it anywhere in Europe.

DBSV8

5,958 posts

251 months

Monday 23rd May 2011
quotequote all
you can bring

10,000euros in cash without declaring to HMRC

http://www.direct.gov.uk/en/TravelAndTransport/For...

this site may help

http://www.propertycommunity.com/forum/egypt-prope...

cheers

Du1point8

Original Poster:

21,914 posts

205 months

Monday 23rd May 2011
quotequote all
DBSV8 said:
you can bring

10,000euros in cash without declaring to HMRC

http://www.direct.gov.uk/en/TravelAndTransport/For...

this site may help

http://www.propertycommunity.com/forum/egypt-prope...

cheers
Ok will look at that... the money is going to Finland not the UK though.

XJSJohn

16,062 posts

232 months

Monday 23rd May 2011
quotequote all
since no Egyptian whatevers involved

http://www.pay2home.com/

dit - Scratch that - forgot its limited in destination currencies, as you were!

Vixpy1

42,686 posts

277 months

Monday 23rd May 2011
quotequote all
Camel ?

XJSJohn

16,062 posts

232 months

Tuesday 24th May 2011
quotequote all
Vixpy1 said:
Camel ?
think it will get a bit cold if its walking all the way to Finland