Insurance / Egyptian bank accounts / transferring money

Originally Posted by egyptian

Many thanks for the info the best ratre i can get here at the moment is9.4 Weare going out on 22 august to start the legal paperwork should be interesting

Exchange your currency over there Egyptian, definately a better rate, as Alison said. Good luck with your legal stuff

[queenie40something]

It might be worth your while - to tide you over - to get some $1 bills from the UK to take with you. These will be handy for small tips eg bell boys etc until you get LE. They can change these no probs at the bank but they cannot change euro and sterling coins in Egyptian banks so it makes it difficult for the locals to change up the coins. They need to find a foreigner willing to change up the coins that they have saved.

[The Smart Money]

Originally Posted by queenie40something

It might be worth your while - to tide you over - to get some $1 bills from the UK to take with you. These will be handy for small tips eg bell boys etc until you get LE. They can change these no probs at the bank but they cannot change euro and sterling coins in Egyptian banks so it makes it difficult for the locals to change up the coins. They need to find a foreigner willing to change up the coins that they have saved.

Why $1 bills Alison?

My girlfriend and I are will be in el gouna on the 29th August, where is the best place to change/convert our english money?

regards

Steve

[queenie40something]

Hi - because you cannot get small le change in the UK ( smallest is normally 50le - dont want to tip bell boy a fiver!! ) . You will then have to tip airport staff / taxi / bell boy in euro or £1 coins. The locals cannot change coins in the bank so they have to save them up to say £10 worth of coins to change for le note. If you get a few $ bills these will tide you over ( if you have no small le ) for tipping until you can exchange into small le eg 5 / 10 le to tip etc.
they can change $ bills in the bank BUT NOT COINS. xx

Still change your moeny when in Egypt but have some change ( le or $ ) for tipping when you 1st arrive.

[Rivermead Global Property]

Yes you have to tip for everything!!!!

[iain]

Originally Posted by queenie40something

Hi all - as I now have my keys and the furniture maker is in thought Id better get the apartment insured.

I have now arranged this over the phone with Intasure as I found their policy to be one of the best for my needs ( I am an Insurance Underwriter ) and the policy covers for lets as well.

The staff are really helpful and the cost was £120 per annum for buildings and contents with AD cover as well. They also cover up to £1000 travel expenses if you need to fly out in case of emergency ad also if something has happened eg it has been flooded and you cannot honour the booking they will pay for loss of rental. Also if anything happens when the apartment is being used they will pay for alternative accom as well.

I have also just received a quote by filling in the online form and they called withing 5 mins. For our 3 bed appt inc £10,000 contents, re-build, £5,000,000 public liability and the other benefits that Aliosn mentions they quoted £160 I may have gone a bit high on contents but would expect a 3 bed to cost a bit more.

policy seems very good here is a link to a policy summary which give main cover.

http://www.intasure.com/docs/lloyds_policy_summary.pdf

Thanks to those who did the groundwork!

Iain

[Razzel]

I have a large amount of egyptian pounds to invest, while our new villa is being built, this will be finished in 18 months time, I was told yesterday that the banks have a really good rate at the moment (perhaps 10% +?) as I have only banked for 5 years with a current account, can anyone advise on the current banking rates and any pitfalls. I already own 3 properties in Hurghada but have always brought the cash over from UK investments.

[queenie40something]

Hi Razzel - I have merged your thread with this one where you will find links to HSBC and Central Bank of Egypt.

[distant dreamer]

Originally Posted by The Smart Money

Why $1 bills Alison?

My girlfriend and I are will be in el gouna on the 29th August, where is the best place to change/convert our english money?

regards

Steve

Hi Steve,

Plenty of banks in El Gouna to change up money. We use CIB at the Marina, where there is also now an HSBC branch. If you are staying nearer DownTown, there are also banks there, but can't remember the names. All very easy and definitely wait to change up when you arrive as much better rate.

Regards

Penny

[anokayperson]

Originally Posted by distant dreamer

Hi Steve,

Plenty of banks in El Gouna to change up money. We use CIB at the Marina, where there is also now an HSBC branch. If you are staying nearer DownTown, there are also banks there, but can't remember the names. All very easy and definitely wait to change up when you arrive as much better rate.

Regards

Penny

hi - will they change up our sterling into Egyptian Pounds for free and is there a maximum you can change at any one time? thanks