If you’re visiting Egypt, figuring out the best way to exchange money can save you from losing cash to bad rates and unnecessary fees. Should you exchange at the airport? Are ATMs safe? Do you need cash, or can you survive with just a card? Here’s everything you need to know.
1. Should You Exchange Money at the Airport?
Short answer: NO.
Airport exchange kiosks often have some of the worst rates and high commission fees. If you land and need Egyptian Pounds (EGP) right away, exchange only a small amount (like $20-50) to cover your immediate expenses (SIM card, taxi, snacks). For better rates, wait until you’re in the city.
2. Where to Exchange Money in Egypt?
A. Cairo
B. Alexandria
C. Sharm El-Sheikh:
D. Hurghada:
E. Luxor:
F. Aswan:
G. Banks
- Major banks such as the National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB) offer currency exchange services. Banks generally provide good exchange rates and are located throughout cities and airports.
H. ATMs
- Using ATMs to withdraw Egyptian pounds with your debit or credit card is another convenient option. ATMs are widely available in cities and tourist areas, though fees and exchange rates can vary.
3. Cash or Card? What’s the Best Way to Pay in Egypt?
- Cash is king in Egypt, especially for taxis, street vendors, and small restaurants. While many hotels, upscale restaurants, and large stores accept credit cards, you’ll need cash for most day-to-day expenses. Always keep small denominations (e.g., 10, 20, 50 EGP) for tipping and transportation.
- ATMs are a good backup option, but check the withdrawal fees from both your home bank and the Egyptian bank. Some banks, like CIB, Banque Misr, and QNB, have lower fees for foreign cards.
- Credit cards are widely accepted in malls, hotels, and large restaurants. Visa and Mastercard are the most commonly accepted, while American Express may not work everywhere.
4. Avoid These Common Currency Exchange Mistakes
🚫 Don’t exchange all your money at once. Rates fluctuate, and you might get a better deal later.
🚫 Don’t rely on airport kiosks for large amounts. Their rates are significantly worse.
🚫 Avoid exchanging money with individuals on the street. This is illegal and risky.
🚫 Be cautious of hidden ATM fees. Some ATMs charge an extra fee for foreign cards.
🚫 Always check the exchange rate before exchanging. Use Google or a currency conversion app.
5. Currency Exchange Pro Tips
✅ Download a currency conversion app (e.g., XE Currency) to track real-time exchange rates.
✅ Ask for small bills when exchanging money, as many places struggle with change.
✅ Keep some USD or Euros as backup cash in case you run out of Egyptian Pounds.
✅ Use bank ATMs inside malls or hotels for added security.
✅ Plan ahead and exchange in the city rather than at the airport.
Exchanging money in Egypt doesn’t have to be stressful if you know where to go and what to avoid. By skipping airport kiosks, using reputable exchange offices, and having a mix of cash and cards, you’ll ensure a hassle-free experience while getting the best value for your money.
Now that you’re ready to navigate Cairo like a pro, go enjoy Egypt!