How to get a bank account

No Way to open aany account now without a visa.

so if you just need an account to save money, you can go to The Arab African International Bank branch inside Rehab city, or in New Cairo Branch and ask for a service named, 4u Card.

Obtaining this card will allow you to save money and withdraw from any A.T.M.......... without having any visa! just by your passport plus 20 EGP fees for the card issuance.

Hi,

In general western nationals have no problem in opening bank accounts in Egypt with a 6 months tourist visa. But if you an American citizen , things are different.

It is because of USA regulations that you are not able to open a bank account, and not Egyptian Law.
It is called Foreign Account Tax Compliance ACT:

http://www.irs.gov/Businesses/Corporati … iance-Act-(FATCA)

The law demands that virtually every financial firm outside the United States and any foreign company in which Americans are beneficial owners must register with the Internal Revenue Service, check existing accounts in search of Americans and annually declare their compliance.

Please read these articles about the law applying to US citizens opening accounts abroad.

http://aaro.org/denied-bank-accounts

Basically, unless you have a valid working permit and residence, you will be denied a bank account wherever you go. As soon as a US citizen opens an account abroad, even with a regular work permit, the US Tax Depart will be immediately notified. If you do not pay your US taxes while abroad, your bank will withhold 30% of your earnings and send them to IRS.

As a consequence of this law, together with people being denied they travel documents, many US citizens are seeking another nationality.

Thank you America.

Hi
no the rules have changed here in Egypt - no you need a valid work visa to open an account - I can add the names of at least another 2 banks to the list above.

Also if you wish to withdraw over the counter - you have to show your visa with the valid permit or else they won't give you the money!

It does not just apply to US citizens at all - but to all nationalities

The information you provided is somehow contradictory, as I have people currently opening bank accounts with no problems at all. This is the case for instance, of people purchasing properties or guaranteeing to the bank an influx of money on regular basis.

For security reasons, due to current circumstances, banks might have been order to temporary alt non-residents bank accounts, or might make it more difficult, but it is not an absolute rule that one has to have a residence permit to open an account.

The rule for US citizen is standing independently from the current situation in Egypt.

Rules and practices don't always coincide in Egypt. A branch might accept, while another can refuse. This is also valid for long-term tourist visa. An immigration office might give you 3 months, another 1 year.

By the way i am a banker for more than 10 years, and rules apply to all and without exceptions..

sorry - it is a rule - you need a residence permit / work visa to open a bank account!!

biffy wrote:

sorry - it is a rule - you need a residence permit / work visa to open a bank account!!

that's what i am saying

you MUST have a VALID visa to open any kind of account without any exception BUT, only one case needs no visa is opening a save card account in one bank ONLY (AAIB).

https://www.expat.com/forum/viewtopic.php?id=145564

There are banks regularly opening accounts to westerner nationals. You have to be introduced.
It is a fact, regardless of regulations. All you need is a 6 months visa.

6 months visa. No residence/ work permit.

Additionally, foreign nationals are allowed to register a business LLC and buying properties in the A.R.E. They do NOT need to be resident to do that, but these procedures require an account.

Being employed is NOT the only way to open an account in Egypt.

I appreciate all the helpful responses.  Though it is quite confusing.

We have a registered business here in Egypt, so I went to get the work permit.  The General Authority of Freezones and Investments tells me I have all the documents/stamps needed, just need to open a bank account and I'll get the work permit.  At the bank, they say bring the work permit and you can have the bank account.

I do not have a work permit or property and I am living on three month visas (for the last 3 years) and I have a bank account.  In fact, I have two.  One with QNB and one with HSBC.  I was asked no questions and it was done instantly.

HI,

Note that you had no problem setting up an account in Egypt, I have an apartment there and need to set up an account next time I'm over. What documents does the bank expect you to have?