Arab Finance: The Export Development Bank of Egypt (EBank) has upgraded its mobile banking application, allowing customers to make instant transfers of up to EGP 30 million per month as part of its broader digital transformation strategy, as per an emailed press release.
The updated app offers individual customers instant transfers through the Instant Payment Network (IPN), with a maximum of EGP 3 million per transaction, EGP 5 million per day, and EGP 30 million per month.
Customers can transfer funds around the clock to bank accounts, cards, and electronic wallets using a mobile number, instant payment address, account number, or International Bank Account Number (IBAN).
The app also supports transfers between customers’ own accounts and foreign currency transfers from eligible accounts. Users can add and manage beneficiaries, schedule future transfers, establish standing instructions for recurring transactions, and review their transaction history.
Beyond transfers, the platform allows customers to view account balances and statements, open subaccounts, and manage certificates of deposit and savings products. Users can issue, link, renew, and redeem certificates, monitor their accounts, loans, and deposits, and subscribe to electronic statements.
The upgraded interface also expands card management services. Customers can view debit and credit card details, monitor transactions, activate cards, deactivate lost or stolen cards, pay credit card balances, and subscribe to card-related electronic statements.
The application additionally enables users to pay various bills, make donations to charitable organizations, and review financial statistics and payment histories.
EBank said the update is intended to reduce customers’ reliance on branch visits by enabling them to manage their accounts and conduct transactions securely around the clock. The move supports the Central Bank of Egypt’s efforts to expand financial inclusion and promote a less cash-dependent economy.
Customers can register for the mobile banking service by visiting their nearest EBank branch to complete the enrollment and activation process.
