I received a gift from my father... what does the bank need?

If your father sends you money as a gift, the bank may ask you about the source of the funds, especially if the amount is large or different from your usual account activity.

Key points

• Keep proof of the transfer and its source, and the bank may request additional documentation or a declaration depending on the circumstances.

• It's best to ask the bank before making a large transfer to avoid being surprised by paperwork requests afterward.

Source

• Central Bank of Egypt — Financial Inclusion Rates