The National Bank of Egypt (NBE) announced on Thursday the launch of a new service for the instant reception of international remittances to customer accounts in the Egyptian banking system 24/7 – including official holidays.

What is the Instant Incoming Remittances Service?

The Instant Incoming Remittances Service allows NBE customers to receive international remittances instantly, without having to wait for the traditional clearance process.

This service is available through the bank’s network of agents and correspondents around the world, providing customers with a convenient and secure way to receive their money.

Benefits

This new service offers a number of benefits to customers, including:

• Instant receipt of remittances: Customers can receive their remittances instantly, without having to wait for the traditional clearance process.
• Reduced fees: The service offers competitive fees, lower than many other options available in the market.
• Convenience: Customers can receive their remittances through a variety of channels, including ATMs, bank branches, and mobile wallets.
• Security: The service is secure and reliable, backed by the NBE’s reputation for quality and integrity.

How to use

To use the Instant Incoming Remittances Service, customers simply need to provide their bank account details to the sender of the remittance.

The sender can then initiate the remittance through their bank or money transfer service provider.

Once the remittance has been initiated, it will be processed by the NBE and credited to the customer’s account instantly.