What are the fees for transferring money from one wallet to another? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What are the fees for transferring money from one wallet to another?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Transfers between wallets of the same bank or the same telecom company are free or carry very small fees. Transfers to another wallet (a different bank or a different network) are subject to a commission set by the Central Bank (it is often waived under initiatives, and normally ranges between 0.5% and 1%, with a monetary cap per transaction).

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