Egypt's state bank, with published SME minimums
SME banking from Egypt's largest state-owned bank, covering current accounts and the Fayda Plus SMEs Account, with minimum balances published per product.
Use when
You need an Egyptian pound account at a bank every local counterparty recognises.
Skip when
Your balances will sit below the minimums, or you need to open without visiting a branch.
Unusually for this market it publishes the numbers that decide whether you can bank here at all. The SME current account opens at a minimum of EGP 5,000, and Fayda Plus opens at EGP 10,000 but only accrues interest above a balance of EGP 50,000, so if you will sit below that the interest is not a reason to pick it. Weigh the minimums against your runway before the feature list, since on a small balance they are the whole cost. Being the state bank cuts both ways: the branch network and counterparty comfort are unmatched in Egypt, and the account opening is a branch and documents process rather than anything you will finish online.
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