itself Egyptian banks move to dealing with digital transactions | the instapay application

Egyptian banks move to dealing with digital transactions

what is instapay ?

InstaPay is a real-time electronic fund transfer (EFT) service that allows users to instantly transfer money between accounts in different banks in Egypt. It is a service provided by the Egyptian Banks Company (EBC), which is a subsidiary of the Central Bank of Egypt (CBE).

To make a transfer, users need to enter the recipient's bank account information and the amount they want to transfer. The transfer is then processed instantly, allowing users to send and receive money in real-time. InstaPay can be used to make payments, transfer money to other accounts, or pay bills. It is a convenient and secure way to transfer money in Egypt.

Instapay haw work ?

To use InstaPay, users must have a bank account at a participating bank in Egypt and access to internet banking or mobile banking. To make a transfer, users need to enter the recipient's bank account information and the amount they want to transfer. The transfer is then processed instantly, allowing users to send and receive money in real-time. InstaPay can be used to make payments, transfer money to other accounts, or pay bills. It is a convenient and secure way to transfer money in Egypt
To use InstaPay, you will need to have a bank account at a participating bank in Egypt and access to internet banking or mobile banking. Here's a general outline of the steps you can follow to use InstaPay:

1. Log in to your internet banking or mobile banking account.
2. Select the InstaPay option or feature.
3. Enter the recipient's bank account information, including their account number and the name of their bank.
4. Enter the amount you want to transfer.
5. Review the details of the transfer to ensure everything is correct.
6. Confirm the transfer.

Once you have confirmed the transfer, the funds will be transferred instantly to the recipient's account. You should receive a confirmation of the transfer, either through your internet banking or mobile banking app or by email. It's important to note that InstaPay is only available for transfers between bank accounts in Egypt, and you may need to pay a fee for the service, depending on your bank.