Are you an Egyptian national? Do you have a bank card for your egyptian bank account? Then you should be able to withdraw the money directly in an EU ATM up to the monthly limit. Just a quick google search says the withdrawal limit abroad is 5k, which means you could get the whole amount in 2 visits. It also depends on your bank account fees …
I would stay away from Crypto if I were you - unless you’re willing to lose a lot of money.
If wise/revolut/crypto are not an option and you are afraid of carrying gold/euro through customs, then your best bet is buying a watch and reselling it in Europe. If you buy the right watch and wait a few years, you will earn on the investment. Just make sure to keep the watch pristine (box, papers, etc.)
Convert to euro in egypt and carry them as cash. Thats the cheapest.
You could try sending yourself via western union or similar. I think the limit is 5k and 3.99 fee. (at least when I use it for myself)
Due to the current bad economics of the country I cannot convert this to Euros or USDs (only through the black market which both illegal and the price is very high)
It is more expensive in the black market like 1.5 x the price
To do a swift the conversion rate gonna eat a big chunk of the money it is not the fees and I guess it is not allowed currently because the shortage of the foreign currency
It doesnt need to look expensive. You can buy a white gold chain, officer will only questin your taste of fashion. Or a wrist watch, you can buy a 2nd hand rolex with paper and box, it is quite liquid in the secondary market.
You may pay high conversion fees but less transfer fee. Transfers from outside SEPA are expensive. I once transfered a small amount (about 50) and paid 30 eu fees.
Shipping a car to Europe I wouldn’t assume that his is cheaper than wire transfer by bank.
Also buying electronics that are more expensive in Egypt to sell them here cheaper is not a good idea either
Are you an Egyptian national? Do you have a bank card for your egyptian bank account? Then you should be able to withdraw the money directly in an EU ATM up to the monthly limit. Just a quick google search says the withdrawal limit abroad is 5k, which means you could get the whole amount in 2 visits. It also depends on your bank account fees … I would stay away from Crypto if I were you - unless you’re willing to lose a lot of money.
This is would be an old info, the limit now is 500 to 1k and the fees is 10% for the conversion (was 3% last year)
Wow a 10% fee is pretty crazy.
If wise/revolut/crypto are not an option and you are afraid of carrying gold/euro through customs, then your best bet is buying a watch and reselling it in Europe. If you buy the right watch and wait a few years, you will earn on the investment. Just make sure to keep the watch pristine (box, papers, etc.)
Thanks for the advice
Convert to euro in egypt and carry them as cash. Thats the cheapest. You could try sending yourself via western union or similar. I think the limit is 5k and 3.99 fee. (at least when I use it for myself)
Due to the current bad economics of the country I cannot convert this to Euros or USDs (only through the black market which both illegal and the price is very high)
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It is more expensive in the black market like 1.5 x the price To do a swift the conversion rate gonna eat a big chunk of the money it is not the fees and I guess it is not allowed currently because the shortage of the foreign currency
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I didn’t know about it ofc also it is in a 3 year deposit certificate with 20% interest but the inflation skyrocketed 60% +
Buy physical gold (maybe even in form of jewelery) bring it with you.
I am thinking of this tbh, I am only worried about customs in Egypt and here as well
No need to declare under 10k
It really depends on the mood of the custom officer there, or this is what I hear
It doesnt need to look expensive. You can buy a white gold chain, officer will only questin your taste of fashion. Or a wrist watch, you can buy a 2nd hand rolex with paper and box, it is quite liquid in the secondary market.
They can be difficult and corrupt. But the law is the law.
TransferWise or Crypto
Is this true? It sounds like you would just sent up paying two conversion fees instead of one (regarding crypto)
You may pay high conversion fees but less transfer fee. Transfers from outside SEPA are expensive. I once transfered a small amount (about 50) and paid 30 eu fees.
Can vouch for this, non-EU to EU goes through SWIFT not SEPA and fees are insane from BOTH banks, can be up to 50eur
Crypto is illegal in Egypt and I am not sure if Wise is available in Egypt :/
The whole point of Bitcoin is that its use can't be governed by dictatorial or oppressive laws.
Transferwise or revolut. Both are just interbanks so you send it to this entité that couverts it . Otherwise as mentionned.. crypto
I just checked revolut. It‘s possible to transfer to egp, but other way round is not possible since the country is not supported
Yes revolut doesn’t operate in Egypt
Bitcoin
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Shipping a car to Europe I wouldn’t assume that his is cheaper than wire transfer by bank. Also buying electronics that are more expensive in Egypt to sell them here cheaper is not a good idea either
Bitcoin was made for this.
Bitcoin.
Bitcoin is expensive and slow now. I'd suggest a lot of other faster and cheap crypto better in that.
The on ramps for EGP are not that universal. If he could get USD, the problem would not exist to begin with.
Im not following you
I’ll trade 2k euro against egp if u want . I’m going To Egypt on vacation next month
Just take them as Cash on a plane when you are visiting egypt.
And then what? Where would I exchange egp after I leave Egypt with it
True that , then go buy gold
Thats Like 5 one ounce gold coins
Or silver
I only use crypto for that