Egypt adopts IBAN

An important change is coming to Egypt! From 3 December 2020, we’ll be requiring all transfers to EGP to be sent to an account identified by an International Bank Account Number (IBAN), rather than a bank code & account number.

This is in line with a decision by the Central Bank of Egypt made earlier this year to move all Egyptian accounts to the IBAN standard. Every bank account in Egypt will now have its own IBAN. Egyptian IBANs are 29 characters long, and start with ‘EG’.

Accordingly, the details of all current EGP recipients with no IBAN will be invalid from that date, and when you next send to Egypt, you’ll need to know the IBAN of your recipient and create it again. Aside from this, nothing else will change.

Thanks,
The TransferWise team