The Automatic Clearing House (EG – ACH) Multi-Currency

ACH transfer is an electronic transfer of funds from one bank account to another over the ACH (Automated Clearing House) network.

EG-ACH processes batches of interbank Credit and Debit transactions in Egyptian pounds, US dollars and Euro between banks governed by the Egyptian Banks Company under the supervision of the Central Bank of Egypt (CBE).

EG - ACH facilitates all payment transfers such as: Salary Distribution, Supplier Payment, Pension Distribution, and it is an easy technique for crediting beneficiaries’ accounts.

EG - ACH is processed through an application submitted by the customer requesting the transfer issuance. The application specifies the requested amount, the beneficiary's name and address or bank account number (IBAN), and the name of the bank and branch, in addition to the purpose of the transfer afterwards, the bank allows executing periodic ACH in specified amounts and dates upon fixed instructions from its customers.

AIB applies inward payment orders in Egyptian pounds, US dollars and Euro from local banks participants in Automated Clearing House (ACH) for its customers.

Commission and charges are levied by the bank for its ACH transfers, in accordance with the applicable laws and regulations applied.

*Terms and Conditions apply*