Opening an account in the US dollar is a service that government and private banks provide to enable their customers to deposit foreign transfers into their account, purchase certificates of deposits, or make deposits in foreign currency.
Banks across Egypt are competing to provide the highest returns for opening a US dollar account to attract customers.
Here’s what you need to know about opening a US dollar account in three government banks:
- The minimum amount to open a US dollar account is US$ 100.
- The periodicity of interest disbursement on the account varies between monthly – quarterly – semi-annual – annual, and the interest rate ranges between 2.138 percent – 3.133 percent annually.
To open an account in US dollars, the client is required to bring a copy of their ID card, passport, or birth certificate for minors.
The National Bank of Egypt
- The minimum amount to open a US dollar account is $100.
- Disbursing the interest on the account in US dollar annually.
- The bank allows opening a joint account in US dollars.
- You can inquire about banking services on an online account.
- The bank requires that you bring a copy of your ID card or passport.
Banque du Caire
- The minimum amount to open a dollar account at the bank is $100.
- The minimum amount for calculating the return is $20.
Edited translation from Al-Masry Al-Youm