InstaPay to apply charges starting 1 April

Under the new structure, transfer fees via InstaPay will be set at 0.1 percent of the transaction value, with a minimum charge of 50 piasters and a maximum of EGP 20 per transaction.

Additionally, customers will be able to perform up to 10 free balance inquiries or mini-statements per month, following which a fee of 50 piasters per inquiry will apply.

Since its launch in April 2022, the Central Bank of Egypt’s national IPN has become a key component of the country’s payment systems infrastructure.

IPN offers a convenient and efficient alternative to cash payments, providing 24/7 instant transfer services to all bank customers.

In 2024, the volume of transactions processed through IPN grew significantly, reaching nearly 1.5 billion transactions valued at approximately EGP 2.9 trillion.

By the end of 2024, InstaPay app users had reached 12 million.

According to the Ministry of Communications and Information Technology, Egypt’s active mobile subscriptions reached 84.2 million in 2024, up from 83.8 million in 2023.