When are POS sales proceeds transferred to the merchant's account? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

When are POS sales proceeds transferred to the merchant's account?

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

Settlement and the deposit of the funds into the merchant's bank account take place within one business day at most Egyptian banks (technically known as T+1). Some banks offer instant settlement or settlement twice a day for an additional fee.

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