How and Where to Get Egyptian Pounds

The Egyptian Pound (EGP) serves as the official currency for all transactions within Egypt. Understanding how to acquire this local currency is important for visitors, as it facilitates daily purchases and services throughout the country. While some larger establishments may accept foreign currency, particularly in tourist areas, using Egyptian Pounds is generally recommended for convenience and to ensure fair pricing.

Obtaining Egyptian Pounds Before Travel

Acquiring Egyptian Pounds before departing from the United States is an option, though it often comes with less favorable terms. Major US banks, such as Chase, Bank of America, and Wells Fargo, typically offer currency exchange services where you can order foreign currency. This process usually requires ordering the currency in advance, and it may take several days for the EGP to become available.

Specialized currency exchange services like Travelex or Currency Exchange International also provide this option. Online platforms such as Xoom and OFX can further facilitate these transactions. Financial experts advise against exchanging large sums before arrival, as rates are often less advantageous. It is prudent to obtain only a small amount, perhaps $100-$200 USD, for immediate needs upon arrival, such as taxi fares.

ATMs in Egypt

Upon arrival in Egypt, Automated Teller Machines (ATMs) offer a widely accessible method for obtaining Egyptian Pounds. These machines are readily found in major urban centers like Cairo and Alexandria, as well as in tourist hubs such as Luxor, Aswan, Sharm El-Sheikh, and Hurghada. You will encounter ATMs in various convenient locations, including airports, shopping malls, and within bank branches.

Most ATMs in Egypt accept international debit and credit cards. However, American Express and Discover cards are generally not accepted, so carry alternatives. When withdrawing, select your language, enter your Personal Identification Number (PIN), and choose the amount. Decline any dynamic currency conversion (DCC) offered by the ATM. Opting to be charged in Egyptian Pounds allows your bank to handle the conversion for a more favorable rate.

While many bank-owned ATMs in Egypt do not charge a direct ATM fee, non-bank ATMs or those located in hotels might impose a fee, ranging from EGP 5 to EGP 200 per transaction. Your home bank may also levy foreign transaction fees, so checking with them before travel is recommended. Daily withdrawal limits imposed by Egyptian ATMs typically range from EGP 2,000 to EGP 8,000 per transaction, with some ATMs allowing up to EGP 30,000 daily. For security, it is always best to use ATMs located inside bank branches or reputable hotels and to cover the keypad when entering your PIN.

Local Currency Exchange in Egypt

Exchanging foreign currency for Egyptian Pounds at physical exchange locations within Egypt is a common practice. These services are available at various points of entry and within cities, including airport exchange counters, licensed currency exchange offices, and major bank branches. Some hotels also offer currency exchange services, though their rates may be less competitive compared to banks or dedicated exchange offices.

The process generally involves presenting your foreign currency along with your passport, a mandatory identification requirement. Official exchange rates are often government-set. Still, compare rates between different licensed exchange offices or bank branches to ensure you receive the best value.

When exchanging larger amounts, request smaller denominations (e.g., EGP 10, 20, 50 notes) for everyday purchases, tipping, and transportation. Airport exchange counters offer immediate convenience upon arrival, but may not always provide the most advantageous rates. Banks typically operate during standard business hours, usually Sunday through Thursday, while exchange offices and airport services may have extended hours or operate 24/7.