Sending money around the world is an easy and affordable process. Money transfer companies like Western Union and MoneyGram allow for money to be sent quickly to anyone who can access a money transfer location or has a bank account. In Egypt, these companies provide the means to send money abroad and within the country.
- Skill level:
- Moderately Easy
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Things you need
- Proof of identity
Decide how much money you will send. The amount of money sent will determine the fees charged at most money transfer locations. If you're sending money to the United States or many other countries, there may be restrictions on sending amounts larger than £6,500 or its equivalent in another currency.
Find the location of a money transfer service. MoneyGram partnered with Sphinx Trading Company which allows customers to send money. A visit to the company website (see Resources) will help you find the location nearest to you.
Western Union services are available at select International Business Associates (IBA) offices and the Arab African International Bank (AAIB). You do not have to be an AAIB customer in order to use its Western Union services; if you opt to send a wire transfer from your bank instead of using MoneyGram or Western Union, simply visit your bank to complete the transaction.
Fill out the necessary forms at a money transfer office. At MoneyGram, complete the "Send Form" and include a 10-word message for the recipient. The message is necessary to ensure that only the person you are sending the money to will be able to collect it.
At Western Union, complete the appropriate send form. Western Union is closed on Friday in observance of the Muslim holy day. Western Union locations are also closed on Saturdays. However, offices are open from Sunday to Thursday between 11a.m. in the morning and 7p.m. in the evening.
Submit the completed form to the teller. The teller will ask for identification. Both MoneyGram and Western Union require some form of valid personal identification.
Receive a reference number. At MoneyGram, the teller will give you a reference number while at Western Union, you will receive a Money Transfer Control Number (MTCN). These numbers will help you track your transfer and will be used by the recipient to collect their money.
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